Fremont General Corp: The Santa Monica-based insurance...

Fremont General Corp: The Santa Monica-based insurance and financial services company said its 1989 income rose 16% from 1988 to $17.6 million on revenue of $466.5 million, up 18%. Fourth-quarter net income soared to $9.49 million from $465,000 a year ago, as revenue climbed 30% to $127.2 million. The firm singled out a strong performance by its workers’ compensation insurance companies and its $1-billion investment portfolio. 1989 earnings would have been significantly higher except for a second-quarter provision of $11.3 million to cover potential losses on loans in the Fremont Financial Corp. subsidiary.