Results for the three months ended March 31, 2011 and 2010, based on accounting principles generally accepted in the United States of America, were reported today as follows:
|Three Months Ended March 31|
|Realized Investment Gains||770,000||669,000|
|Net Income Per Share||$||0.40||$||0.77|
Consolidated premium revenue was $14,870,000 as of March 2011 compared to $15,038,000 as of March 2010; a decrease of $168,000 or 1.1%. We continue to limit new business production in our dwelling lines of business in areas with high concentrations of coastal exposure along the Alabama, Mississippi and Louisiana coast. These efforts have reduced the rate of new business production which has led to short term stagnation in revenue growth.As of March 31, 2011, shareholders’ equity totaled $44,203,000 compared to $43,710,000 as of December 31, 2010; an increase of 1.1%. The National Security Group, Inc. (NASDAQ Symbol: NSEC), through its property & casualty and life insurance subsidiaries, offers property, casualty, life, accident and health insurance in twelve states. The Company writes primarily personal lines property coverage including dwelling fire and windstorm, homeowners, mobile homeowners and personal non-standard automobile lines of insurance. The Company also offers life, accident and health, supplemental hospital and cancer insurance products. The Company was founded in 1947 and is based in Elba, Alabama.