RICHFIELD, Ohio, -- National Interstate Corporation, parent company of leading motorcoach industry insurer, National Interstate, has reported a big jump in net income for the second quarter and first half of this year.

The company said it earned $11.9 million, or 61 cents per diluted share, during the second quarter of 07, up more than 32 percent from the $9 million, or 47 cents per diluted share, earned in the second quarter of 2006.

Net income for the first half of this year was $22.3 million, or $1.15 per share diluted, an increase of 25.9 percent over the $17.7 million, or 92 cents per share diluted, earned during the six months ended June 30, 2006.

Total revenues were up 22 percent for the quarter and 21.3 percent for the year to date.

The company reported it continues to experience strong underwriting results; favorable loss and loss-adjustment expense reserves; healthy net investment income growth (up more than 30 percent in the second quarter); stable or improving benchmark ratios, including underwriting expense ratio, and great cash flow.

Plus, said company President and Chief Operating Officer Dave Michelson, it has been able to sustain its prices despite a "soft" insurance market.

"We have remained disciplined and maintained relatively flat pricing levels in spite of the continued soft commercial market cycle," said Michelson.

"Our overall double-digit top-line growth and the fact that all of our product components are ahead of last year demonstrates our ability to identify growth opportunities regardless of market conditions. We continue to identify new product opportunities and expanded offerings for our existing programs," said Michelson.

Company Chairman and CEO Alan Spachman predicted more of the same.

"We are confident in our business plan and continue to realize the benefits of effective execution. Profitability is ahead of our expectations for the first six months of 2007 and we remain optimistic about our prospects for the future."

Directors of National Interstate approved a nickel per share dividend, payable Sept. 14, to stockholders of record Aug. 31.