Transamerica Corp.: The San Francisco-based insurance and...

Transamerica Corp.: The San Francisco-based insurance and financial services company said first-quarter net income rose to $70.8 million from $30.7 million a year ago. Results for 1988 included a $36.9-million one-time reduction for the cumulative effect of a change in accounting for income taxes. Revenue advanced to $1.59 billion from $1.53 billion. The results were “generally in line with our expectations and were consistent with our earlier statement that we expect 1989 to be a good year for Transamerica,” the firm said.

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