Business Briefs

Dec. 26, 2013 @ 06:55 PM

N.C. Mutual operating loss widens in 3Q

DURHAM – Durham-based N.C. Mutual Life Insurance Co. reported a net operating loss of more than $2.29 million in the year so far through the third quarter, according to the financial data from the National Association of Insurance Commissioners.

The company’s revenue from life, accident and health premiums and annuities was down about 1.7 percent to approximately $14.07 million compared with the same period last year, and it also saw a decline in its net income from investments and in its miscellaneous income sources.

The insurer’s net operating loss widened in the third quarter compared to the second quarter, when the insurer reported a net operating loss of $1.125 million.