baldwin & lyons inc -cl b (BWINB) Key Developments
Baldwin & Lyons Announces Regular Quarterly Dividend, Payable on June 9, 2015
May 12 15
Baldwin & Lyons Inc. announced that at its regular quarterly meeting, the Board of Directors of Baldwin & Lyons Inc. 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 on June 9, 2015 to shareholders of record on May 26, 2015.
Baldwin & Lyons Inc. Promotes Michael Case as Senior Vice President (Claims & Legal), General Counsel & Secretary
May 7 15
Baldwin & Lyons Inc. announced the promotion of Mr. Michael Case, age 46, to the position of Senior Vice President (Claims & Legal), General Counsel & Secretary. Mr. Case was previously Vice President of Claims, General Counsel and Secretary, and has been employed by the company since July 2003. Prior to joining the company, Mr. Case served as Associate General Counsel for the Union Acceptance Corporation and Deputy Attorney General for the State of Indiana Office of the Attorney General. Mr. Case's education includes a Bachelor's degree from Ball State University and a Juris Doctor degree from William Mitchell College of Law.
Baldwin & Lyons Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 7 15
Baldwin & Lyons Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating revenue of $70,558,000 against $67,491,000 a year ago. Operating income was $3,810,000 or $0.26 per share against $3,715,000 or $0.25 per share a year ago. Net income per share was $0.42 against $0.42 per share a year ago. Net income was $6,243,000 against $6,361,000 a year ago. Net premium earned for the first quarter of 2015 was $66.4 million, 4% higher than last year’s first quarter total of $63.8 million. Pre-tax investment income increased 23% compared to the first quarter of 2014 and 8% over the fourth quarter of 2014 as reallocations among fixed maturity securities during 2014 produced higher average bond yields. Pre-tax realized gains for the quarter totaled $3.7 million consistent with gains of $4.1 million in the first quarter last year. Book value per share increased $0.18 per share during the first quarter, after the payment of $0.25 per share in regular cash dividends. The combination of the increase in book value and dividends represents a 1.6% total return on beginning book value for the quarter.
Baldwin & Lyons Inc. Announces Resignation of Craig C. Morfas as Executive Vice President of Claims
Apr 24 15
Baldwin & Lyons Inc. announced that Mr. Craig C. Morfas, Executive Vice President of Claims, provided the company with notice of his resignation on April 20, 2015.
Baldwin & Lyons Inc., Annual General Meeting, May 12, 2015
Apr 6 15
Baldwin & Lyons Inc., Annual General Meeting, May 12, 2015., at 10:00 US Eastern Standard Time. Location: 111 Congressional Boulevard. Agenda: To elect thirteen directors; to ratify the appointment of Ernst & Young LLP as independent auditors for the Corporation for 2015; to provide an advisory vote to approve executive officer compensation; and to transact such other business as may properly come before the meeting and any adjournment thereof.