Transamerica Insurance Profits Dip in Quarter

Transamerica Insurance Group in Woodland Hills said its third-quarter profits slipped 1% from a year earlier, to $13.9 million from $14 million.

The earnings dip came on a 4% decline in Transamerica’s revenue, to $512.9 million from $534.9 million. In the quarter ended Sept. 30, the property-casualty insurer lost $52 million underwriting its basic insurance business, but the loss was offset by $61.9 million in net investment income and other revenue.

For the first nine months of 1991, Transamerica Insurance’s profits fell 10% from a year earlier, to $42.9 million from $47.6 million, while its revenue inched up 1%, to $1.60 billion from $1.59 billion.

The company is a unit of Transamerica Corp., a financial services concern based in San Francisco.