Co-operators General Insurance Co. today reported lower earnings for the second quarter ended June 30.

Consolidated after-tax net income for the quarter was $32.4 million, compared to $38.0 million income for the same period in 2004.

Gross written premium in the second quarter increased 0.9% to $578 million, compared to $573 million in the second quarter of 2004. The claims ratio for the quarter was 65.5%, compared to 63.7% during the comparable period last year. The combined ratio of claims and operating expenses was 97.9%, compared to 92.8% for the second quarter of 2004.

Investment income at $39.9 million increased by $12.6 million from the $27.3 million reported for the second quarter of 2004.

Earnings per common share were $1.47 for the second quarter compared to $1.74 for the same period last year.

“Summer storm activity came earlier than normal this year, but our results remain strong. Rate decreases are being implemented across the country on our auto product, but government reforms are having the desired effect, allowing for a reasonable profit level. The strong results allowed for another recent rating upgrade by Standard & Poor’s,” said Kathy Bardswick, president and CEO of The Co-operators, in a release.