Pacifico Property and Casualty reported earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net income of $7,713,000 against $16,890,000 a year ago. Net earnings were due to a decrease in its underwriting result ($2.0 million quarter-on-quarter), which was associated with lower premiums (AFP and Annuities), and a drop in financial income ($3.6 million quarter-on-quarter). million) Financial income in the fourth quarter of 2013 was lower than that reported in fourth quarter of 2012 ($20.7 million against $21.9 million) due to lower results for fixed income and equity sales ($1.8 million against -$81,000) due to transactions in the last quarter of 2012, primarily in the share portfolio.

For the full year, the company reported net income of $50,302,000 against $59,645,000 a year ago. A year-on-year analysis indicates that net earnings fell 54.4% due to a decline in the underwriting result ($7.5 million) due to lower premiums, primarily relative to the AFP, and higher acquisition costs.