Lansing-based health care-risk management and insurance provider, FinCor Holdings Inc., saw its net income increase by 7.4 percent in 2007, and its revenues increase by 5.7 percent.
The company’s 2007 revenues hit $97.2 million, compared to its 2006 revenues of $91.9 million.
FinCor Holdings' president and CEO, Thomas Dickinson, attributes the growth to the 2006 acquisition of its Washington Casualty Company (WCC).
“Positive cash flow from operations has resulted in a significant increase in the amount of investment income we are able to generate, which is an important component of our overall earnings, due to the long-tailed nature of the premiums we write,” he says.
In September 2007, FinCor made Inc. magazine’s 5,000 list for being one of the fastest-growing private companies in the country. From 2003 to 2006, the company’s revenues increased 74 percent.
Source: Rebecca Howe, Lambert, Edwards & Associates
Ivy Hughes, development news editor, can be reached here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.