Transamerica Insurance Quarterly Profit Up 16%

Transamerica Insurance Group in Woodland Hills said its first-quarter profit climbed 16% from a year earlier, to $13.6 million from $11.7 million.

The property-casualty insurance unit of Transamerica Corp. said the improved earnings in the quarter that ended March 31 came on a 13% increase in its earned premiums--a measure of total revenue--to $460.5 million from $407.7 million.

Transamerica Insurance’s results were aided by a 20% increase in its investment income, to $60.9 million from $50.7 million, and by improved results from its basic insurance operations.