Farmers Group’s income rose 25.7% to $268.3...

Farmers Group’s income rose 25.7% to $268.3 million in 1987. The Los Angeles company said the income figure includes a fresh-start tax adjustment of $21.6 million. The company said the improved results reflect continued revenue growth generated principally from higher average premium levels. It noted that the increase in revenue was partly offset by growth in operating expenses due to higher salaries and employee benefits.