This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

National Interstate Earnings Rise

National Interstate (NATL - Get Report) said earnings rose 21.9% from a year-ago period for the first quarter, thanks to an increase in premiums earned.

The Richfield, Ohio-based insurance company earned $8.73 million, or 45 cents a share, in the quarter, compared with $7.16 million, or 39 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 40 cents a share in the most recent quarter.

First-quarter revenue rose 18.5% from a year ago to $55.1 million. Total premium earned increased 16.5% to $50.32 million and net investment income increased to $3.9 million from $2.67 million.

Loss and loss adjustment expenses increased 14.7% to $29.9 million while loss and loss adjustment expense ratio decreased 100 basis points to 59.4%. Underwriting expense ratio increased 180 basis points to 22% and combined ratio stood at 81.4%.

Gross premium written increased 5.8% to $109.54 million and net premium written increased 7.9% to $79.41. This lower growth rate is due to a portion of a large group captive program that renews in the first quarter of each year was moved to a new program that will renew in the fourth quarter.

"Our continued strong profitability reflects our focus on risk selection, disciplined underwriting and our growing investment portfolio," the company said. "We are also pleased with our rate of premium growth given current market conditions."

This story was created through a joint venture between TheStreet.com and IRIS.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
NATL $27.93 0.87%
AAPL $126.00 -0.35%
FB $87.55 0.30%
GOOG $522.86 -0.10%
TSLA $279.72 -0.11%

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs