Results for the three months ended March 31, 2012 and 2011, 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||206,000||770,000|
|Net Income Per Share||$||0.22||$||0.40|
Consolidated premium revenue was $13,496,000 for the quarter-ended March 31, 2012 compared to $14,870,000 for the same period last year; a decrease of $1,374,000 or 9.2%. In late 2011, we made the decision to exit all automobile lines of business due to a lack of underwriting profitability in these programs. Also impacting premium revenue were tightened underwriting guidelines in several states in the homeowners line of business.Shareholders’ equity as of March 31, 2012 was $38,661,000, up $646,000 compared to $38,015,000 as of December 31, 2011. Book value per share increased $0.26 per share for the period ended March 31, 2012 to $15.67 per share compared to $15.41 per share at December 31, 2011. 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.