Transamerica Insurance Shows 28% Profit Gain

Transamerica Insurance Group in Woodland Hills said its profit for the second-quarter that ended June 30 climbed 28% from a year earlier, to $27.5 million from $21.5 million. The gain came on a 3% increase in the company’s revenue, to $465.4 million from $451.7 million.

Transamerica Insurance is a property-casualty insurance subsidiary of Transamerica Corp., a financial services giant based in San Francisco.

Transamerica Insurance’s earnings for the first half of 1989 fell 56%, to $39.2 million from $89.2 million, but the year-earlier results included a $44-million gain from an accounting change. Its six-month revenue rose 5% to $931.5 million from $889.2 million.