Transamerica Insurance’s 4th-Quarter Profit Up 16%

Transamerica Insurance Group in Woodland Hills said its fourth-quarter profit climbed 16% from a year earlier on a 7% increase in revenue.

The property-casualty insurance arm of Transamerica Corp. said its net income in the quarter that ended Dec. 31 rose to $18.1 million from $15.6 million, while its revenue rose to $506.9 million from $474.9 million.

For all of 1989, however, Transamerica Insurance’s earnings dropped 38% to $74.9 million from $120.0 million the previous year. Its annual revenue edged up 5% to $1.92 billion from $1.83 billion.