Baldwin & Lyons Operating Income Up 25 Percent
Indianapolis-based Baldwin & Lyons Inc. announced record first quarter operating income, defined as net income before capital gains or losses, of $6.1 million, or 42 cents per share, compared to the previous first quarter record of $4.9 million, or 33 cents per share, for the first quarter of 2002.
Capital losses of $1.6 million, or 11 cents per share, were realized during the current quarter compared to capital gains of $500,000, or 4 cents per share in the prior year quarter. Including these capital losses, first quarter net income was $4.5 million, or 31 cents per share, compared to $5.5 million, or 37 cents per share, for the first quarter of 2002.
Net premiums earned by the company’s insurance subsidiaries during the first quarter totaled $31.7 million, an increase of 46 percent from the $21.7 million reported for the first quarter of 2002.
- He Saved the Chocolates But Lost His Workers’ Compensation Insurance
- The End of the ‘Rust’ Criminal Case Against Alec Baldwin May Unlock a Civil Lawsuit
- For AUP in Claims, Objectivity and Training Expertise is Key
- Texas Snow Storm Threatens to Unleash Blackouts and Travel Chaos
- Colorado Adds Record Insurance Coverage for Sanders and Hunter With Both Playing in Alamo Bowl
- AccuWeather’s 2024 White Christmas Forecast Calls for Snow in More Areas
- Mississippi High Court Tells USAA to Pay up in Hurricane Katrina Bad-Faith Claim
- The Rising Insurance Costs of Electric Vehicles: A Specialized Challenge