Los Angeles-based Farmers Group Inc. posted a...

Los Angeles-based Farmers Group Inc. posted a 19.7% rise in third-quarter earnings, which it attributed to revenue growth generated by higher average premium-rate levels and more policies in force. The benefit, however, was offset in part by agents’ new business commissions and increased operating expenses, the company said. For the nine months, the company’s net income increased to $157.9 million from $135.9 million a year earlier. The firm added that earnings for both the quarter and nine months were restated to reflect a 100% common stock dividend paid during the second quarter of 1986.