This Day On The Street
Continue to site
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

Baldwin & Lyons Announces Results For Quarter And Nine Months

INDIANAPOLIS, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Baldwin & Lyons, Inc. (Nasdaq:BWINA) (Nasdaq:BWINB) today announced net income for the quarter of $9.2 million, or $.62 per share, compared to net income of $.97 per share for the third quarter of 2009. Operating income, defined as net income before investment gains and losses, of $2.6 million or $.17 per share and compares to $.29 per share for the third quarter of 2009. Net investment gains for the third quarter of 2010 were $6.7 million after tax, or $.45 per share, compared to net investment gains of $10.0 million, or $.68 per share, in the same quarter of 2009. 

Operating income for the year to date is $7.9 million, or $.53 per share, compared to $16.5 million, $1.12 per share, for the prior year period. Net investment gains for the year to date were $6.9 million after tax, or $.47 per share, compared to net investment gains of $17.4 million, or $1.18 per share, for the prior year period. For the first nine months of 2010, net income of $14.8 million or $1.00 per share, compares to $33.9 million or $2.30 per share, in the 2009 period. The reduction is attributable to the first and third quarters' catastrophe losses and lower investment gains compared to 2009's extraordinary recovery year.  

Premium written by the Company's insurance subsidiaries for the current quarter increased 11% when compared to the prior year and has increased 23% for the nine months. The nine month increase includes higher premium volume from traditional products, including fleet transportation, which increased 18%, as well as the impact of new products, including commercial multi-peri and casualty reinsurance.

Net premium earned also increased 17%, to $52.6 million, for the third quarter of 2010 with both existing and new products up significantly. For the nine months, earned premium has increased 21% to $157.3 million. The changes in net premium earned, relative to premium written, reflect the time lag between premium written and earned and, to a lesser degree, changes in reinsurance arrangements.

1 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs