Superior National Earns $721,000 in 3rd Quarter

Superior National Insurance Group Inc., a Calabasas workers’ compensation insurer, said its profit for the third quarter that ended Sept. 30 was $721,000 compared to a loss of $240,000 in the same period last year.

For the first nine months of 1996, Superior’s profit was $1.9 million, more than six times the $300,000 profit it earned for the same period the year before.

Earnings increased chiefly because of an extraordinary after-tax loss of $9.84 million in 1995 related to discontinued operations.

In September of this year, the company agreed to acquire Pac Rim Holding Corp., another California workers’ compensation insurer, for $54 million in cash.