baldwin & lyons inc -cl b (BWINB) Key Developments
Baldwin & Lyons Inc., Board Meeting, Feb 05, 2015
Feb 10 15
Baldwin & Lyons Inc., Board Meeting, Feb 05, 2015. Agenda: To approve executive elections.
Baldwin & Lyons Elects Arshad R. Zakaria to its Board
Feb 9 15
Baldwin & Lyons Inc. announced that Mr. Arshad R. Zakaria was elected to the board of directors during the company’s regular quarterly board meeting held on February 5, 2015. Mr. Zakaria is the Chief Executive and Co-Founder of New Vernon Capital LLC. New Vernon Capital was founded in 2004 and has a focus on emerging markets, particularly India. Prior to forming New Vernon Capital, Mr. Zakaria was an Executive Vice President of Merrill Lynch & Co. Inc. and President of the Global Markets and Investment Banking Group (GMI) from October 2001 to August 2003 and Chairman of that group from August 2003 to December 2003. As President of GMI, he was responsible for investment banking, debt and equity markets, and private equity on a global basis.
Baldwin & Lyons, Inc. Announces Quarterly Dividend, Payable on March 5, 2015
Feb 5 15
Baldwin & Lyons Inc. announced that at its regular quarterly meeting, the Board of Directors declared a regular quarterly dividend of $0.25 per share on the company's class A and class B common stock. The dividend per share will be payable March 5, 2015 to shareholders of record on February 19, 2015.
Baldwin & Lyons, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Jan 29 15
Baldwin & Lyons Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. The company announced after tax operating income, defined as net income before investment gains and losses, of $6.9 million, or $0.46 per share, for the fourth quarter of 2014 compared to $4.4 million, or $0.30 per share, during the fourth quarter of 2013. Net investment gains for the fourth quarter of 2014, which include both realized and unrealized gains in the company's limited partnership investments, were $1.4 million after tax, or $0.09 per share, compared to gains of $4.6 million, or $0.30 per share, in the same quarter of 2013. In total, net income for the quarter was $8.2 million, or $0.55 per share, which compares to $9.0 million, or $0.60 per share, for the prior year's fourth quarter. Book value per share increased $0.09 per share during the fourth quarter, after the payment of $0.25 per share in regular cash dividends. Total revenues were $75.188 million against $76.127 million a year ago. Operating income was $6.873 million against $4.405 million a year ago. Net income was $8.246 million or $0.55 diluted per share against $8.967 million or $0.60 diluted per share a year ago. Operating cash flow during the fourth quarter was negative by $1 million.
For the year, after tax operating income totaled $20.0 million or $1.34 per share compared to $21.3 million or $1.43 per share for the prior year period. Net investment gains for the full year 2014 were $9.7 million after tax, or $0.64 per share, compared to net investment gains of $15.3 million, or $1.02 per share, during the same period of 2013. In total, net income of $29.7 million, or $1.98 per share, compares to $36.6 million, or $2.45 per share, for the prior year period. For the twelve months ended December 31, 2014, book value per share has increased $1.10 after the payment of cash dividends to shareholders totaling $1.00 per share. The combination of the increase in book value and dividends represents an 8.2% total return on beginning book value for the twelve months. Total revenues were $292.042 million against $290.972 million a year ago. Operating income was $20.012 million against $21.303 million a year ago. Net income was $29.717 million or $1.98 diluted per share against $36.588 million or $2.45 diluted per share a year ago. Operating cash flow was positive amounted to $30.2 million, which compares with last year's $35.9 million. The lower cash flow for the year was a result of claim settlements relating to catastrophe losses occurring in the second quarter of this year.
Baldwin & Lyons Inc. to Report Q4, 2014 Results on Jan 29, 2015
Dec 5 14
Baldwin & Lyons Inc. announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Jan 29, 2015