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ICC Holdings, Inc. (NASDAQ: ICCH) reported mixed financial results for Q3 and nine months ending September 30, 2020. Net earnings were $404,000, reversing losses from the previous year, while nine-month net loss reached $787,000. Direct premium written fell 10.9% to $14.5 million in Q3 due to COVID-19 impacts, with total assets rising 10.4% to $179.98 million. Investment income rose 11.1%, but net realized investment losses totaled $59,000. The loss ratio improved slightly, and the company expanded its footprint into Arizona, aiding revenue during challenging conditions.
ICC Holdings, Inc. (NASDAQ: ICCH) reported its preliminary financial results for Q2 2020, showing net earnings of $782,000 ($0.26 per share) compared to $442,000 ($0.15 per share) in Q2 2019. However, for the first half of 2020, the company faced a net loss of $1,191,000 ($0.39 per share), down from earnings of $731,000 in 2019. Direct premiums written dropped by 11.2% to $14.9 million in Q2, while net premiums earned fell by 13.1%. The combined ratio increased to 118.3% in Q2, reflecting elevated losses due to COVID-19 and civil unrest. Book value per share rose 8.1% to $20.35.