|Earnings Per Diluted Share||2014||2013|
|Operating earnings (1)||$0.57||$0.52|
|(1) See discussion below of non-GAAP financial measures.|
- Combined ratio of 86.0, resulting in underwriting income of $22.5 million.
- 2% growth in gross premiums written and 6% growth in net premiums written.
- $13.3 million net increase in underwriting income resulting from favorable development in prior years’ loss reserves.
- Investment income of $13.6 million, up 5% from the same period last year.
- Book value per share of $20.23, an increase of 5% from year end 2013.