Premiums written and assumed for the twelve months of 2012 totaled a record $341.3 million, as the planned reductions in volume from private passenger automobile, commercial multi-peril and property reinsurance businesses were more than offset with higher premium from fleet transportation, primary professional liability and casualty reinsurance products.Net premium earned of $61.4 million for the fourth quarter of 2012 was 4% lower than the record premium earned in the fourth quarter of 2011. The majority of this decline was related to the planned reductions in the products lines mentioned above, most notably the property products within the reinsurance segment. For the twelve months, earned premium decreased 3% to $237.5 million, as planned product reductions and reinsurance treaty changes were largely offset by increased premium written in fleet transportation and other product groups.
Baldwin & Lyons Announces Results For Quarter And Twelve Months
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