CII Financial Posts Rise in Quarter, 9-Month Profits

CII Financial Inc. of Burbank, an insurance holding company whose largest subsidiary is California Indemnity Insurance Co., reported that its profit more than doubled in both the latest quarter and nine-month period.

In the third quarter that ended Sept. 30, CII earned $1.76 million, compared with $750,000 a year earlier. Revenues rose 61% to $22.9 million from $14.2 million.

Net income in the first nine months of this year was $4.32 million, up from $1.81 million in the same period a year earlier. Revenues totaled $58.6 million, a 61% increase from $36.5 million.

CII said the gains in revenues and earnings reflected its increased focus on the California workers’ compensation market.