logo
Share SHARE
FONT-SIZE Plus   Neg

Meadowbrook Insurance Posts Loss

Meadowbrook Insurance Group Inc. (MIG) Tuesday reported fourth-quarter net loss of $12 million or $0.24 per share, compared with net income of $38 million or $0.76 per share last year.

Results for the recent quarter results included $0.06 per share of after-tax realized gains, compared with $0.76 per share last year.

Excluding items, operating loss for the quarter was $15 million or $0.30 per share, compared to with earnings of $47,000 or less than $0.01 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.12 per share. Analysts' estimates typically exclude special items.

Total revenue for the quarter fell to $196.6 million from $300 million last year. Analysts expected revenue of $189.05 million.

The combined ratio was 124.6% for the quarter, compared with 104.5% in the prior year.

For 2014, the company still expects gross written premium to be between $775 million and $800 million and operating earnings to be between $25 million and $35 million or between $0.50 and $0.70 per share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT