Co-operators General Insurance Co. is reporting a return to profit for the third quarter ended September 30.

The P&C insurer says consolidated after-tax net income was $10.9 million, compared to the $3.4 million loss for the same period in 2002.

Gross written premiums in the third quarter increased 10% to $528 million, compared to $480 million in the third quarter of 2002. The claims ratio for the quarter was 74.3%, compared to 80.9% during the comparable period last year. The combined ratio of claims and operating expenses was 102.5%, compared to 109% for the third quarter of 2002.

Earnings per common share were 48¢ for the third quarter compared to a loss of 23¢ for the same period last year.

“Profitability of the auto insurance product remains a serious concern in all provinces except Quebec; however we remain hopeful that solid reforms will soon benefit both consumers and the industry,” said Kathy Bardswick, president and CEO.