Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last €7.77 EUR
Change Today +0.052 / 0.67%
Volume 0.0
As of 2:09 AM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

meadowbrook insurance group (MI6) Snapshot

Open
€7.83
Previous Close
€7.71
Day High
€7.83
Day Low
€7.77
52 Week High
03/16/15 - €8.03
52 Week Low
05/7/14 - €3.78
Market Cap
390.6M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
50.3M
EX-Date
03/12/15
P/E TM
--
Dividend
€0.08
Dividend Yield
0.82%
Current Stock Chart for MEADOWBROOK INSURANCE GROUP (MI6)

meadowbrook insurance group (MI6) Related Businessweek News

No Related Businessweek News Found

meadowbrook insurance group (MI6) Details

Meadowbrook Insurance Group, Inc. operates as a commercial insurance underwriter and insurance administration services company in the United States. The company markets and underwrites specialty property and casualty insurance programs and products on an admitted and non-admitted basis. It offers admitted programs that provide coverage for the food service industry, educators, physicians, agricultural businesses, and public entities; workers’ compensation insurance; and excess and surplus lines insurance for restaurants, bars/taverns, apartments, hotels/motels, and contractors’ liability. The company also provides non-admitted programs for pet-sitters, oil and gas contractors, and professional liability; and insurance programs for excess workers’ compensation, environmental, and marine markets. In addition, it offers program and product design, underwriting risk selection and policy issuance, claims administration and handling, and loss prevention and control services. Further, the company provides risk-bearing entities formation and administration services for clients and agents; and operates retail property and casualty insurance agencies that offer commercial, personal lines, life, and accident and health insurance, as well as reinsurance services to other insurers. Meadowbrook Insurance Group, Inc. offers its products through a network of independent retail agents, wholesalers, program administrators, and general agents. The company was formerly known as Meadowbrook Insurance Agency. Meadowbrook Insurance Group, Inc. was founded in 1955 and is headquartered in Southfield, Michigan.

904 Employees
Last Reported Date: 03/2/15
Founded in 1955

meadowbrook insurance group (MI6) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.1M
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $445.0K
Executive Vice President and President of Cen...
Total Annual Compensation: $490.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $475.0K
Senior Vice President of Field Operations
Total Annual Compensation: $425.0K
Compensation as of Fiscal Year 2014.

meadowbrook insurance group (MI6) Key Developments

Meadowbrook Insurance Group Inc. Declares Quarterly Dividend, Payable on March 30, 2015; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

On February 27, 2015, the Board of Directors of Meadowbrook Insurance Group Inc. declared a quarterly dividend of $0.02 per share payable on March 30, 2015 to shareholders of record as of March 16, 2015. The company reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net written premiums of $135,336,000 compared to $144,409,000 a year ago. Gross written premiums were $163,986,000 compared to $185,232,000 a year ago. Total revenues were $177,956,000 compared to $196,652,000 a year ago. Income before income taxes and equity earnings of affiliates and unconsolidated subsidiaries was $6,460,000 compared to loss before income taxes and equity earnings of affiliates and unconsolidated subsidiaries of $27,323,000 a year ago. Net income was $7,569,000 or $0.15 per share diluted compared to net loss of $11,850,000 or $0.24 per share diluted a year ago. Net operating income was $6,473,000 or $0.13 per share diluted compared to net operating loss of $14,772,000 or $0.30 per share diluted a year ago. For the year, the company reported net written premiums of $601,237,000 compared to $691,637,000 a year ago. Gross written premiums were $742,464,000 compared to $944,011,000 a year ago. Total revenues were $742,525,000 compared to $791,171,000 a year ago. Income before income taxes and equity earnings of affiliates and unconsolidated subsidiaries was $29,133,000 compared to loss before income taxes and equity earnings of affiliates and unconsolidated subsidiaries of $145,746,000 a year ago. Net income was $28,657,000 or $0.57 per share diluted compared to net loss of $112,310,000 or $2.25 per share diluted a year ago. Net operating income was $21,547,000 or $0.43 per share diluted compared to net operating loss of $117,908,000 or $2.36 per share diluted a year ago. Book value per common share was $9.14 against $8.29 a year ago. Tangible book value per common share was $8.56 against $7.68 a year ago.

Investor Sues Meadowbrook Insurance Group Inc. and Fosun International Limited over 'Unfair' Deal with Fosun

Meadowbrook Insurance Group Inc. shareholder is suing the company over its planned sale to Fosun International Ltd., arguing that the $433 million deal undervalues the insurer and discourages competing bids. Chaile Steinberg filed the lawsuit seeking class-action status on January 7, 2014 against a slew of defendants, including Meadowbrook, Fosun, and Meadowbrook President and CEO Robert Cubbin. The complaint accuses Cubbin and Meadowbrook's board of breaching their fiduciary duties and blames the companies for aiding and abetting those breaches. Meadowbrook's $8.65-per-share sale price is below the company's third-quarter 2014 book value, an "unfair" amount that means the company would better serve its shareholders by shutting down than by selling to Fosun.

Meadowbrook Insurance Group Inc. Declares Quarterly Dividend, Payable on December 3, 2014; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fiscal Year of 2014 and 2015

On October 31, 2014, the board of directors of Meadowbrook Insurance Group Inc. declared a quarterly dividend of $0.02 per share payable on December 3, 2014 to shareholders of record as of November 20, 2014. The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net written premiums of $157,308,000 compared to $185,858,000 a year ago. Gross written premiums were $198,039,000 compared to $257,028,000 a year ago. Total revenues were $187,769,000 compared to $203,884,000 a year ago. Income before income taxes and equity earnings of affiliates and unconsolidated subsidiaries was $4,457,000 compared to $4,740,000 a year ago. Net income was $4,967,000 compared to $5,516,000 a year ago. Net operating income was $3,034,000 compared to $5,077,000 a year ago. Diluted net income per share was $0.09 compared to $0.11 a year ago. Diluted net operating income per share of $0.06 compared to $0.10 a year ago. Cash flows generated from operating activities were $9.7 million compared to $20.4 million for the three months ended September 30, 2013. The decrease in operating cash flows primarily reflects the lower premium volumes in the current year. For the nine months, the company reported net written premiums of $465,901,000 compared to $547,228,000 a year ago. Gross written premiums were $578,477,000 compared to $758,779,000 a year ago. Total revenues were $564,569,000 compared to $594,519,000 a year ago. Income before income taxes and equity earnings of affiliates and unconsolidated subsidiaries was $22,673,000 compared to loss of $118,423,000 a year ago. Net income was $21,087,000 compared to net loss of $100,460,000 a year ago. Net operating income was $15,073,000 compared to net operating loss of $103,136,000 a year ago. Diluted net income per share was $0.42 compared to diluted net loss per share of $2.01 a year ago. Diluted net operating income per share of $0.30 compared to diluted net operating loss per share of $2.07 a year ago. Cash flows used in operating activities were $3.2 million compared to $18.9 million for the nine months ended September 30, 2013. The decrease in operating cash flows primarily reflects the lower premium volumes in the current year. Book value per common share as at September 30, 2014 was $8.94. Tangible book value per common share as at September 30, 2014 was $8.35. The company provided earnings guidance for the fiscal year 2014 and 2015. For 2014, management expects gross written premium to be between $715 million and $725 million. Management also expects to generate net operating income between $20.0 million and $22.5 million, or net operating income per share between $0.40 and $0.45 per share for the year ended December 31, 2014. For 2015, management expects gross written premium to grow to be between $750 million and $775 million. Management also expects to generate net operating income between $25.0 million and $30.0 million, or net operating income per share between $0.50 and $0.60 during this period.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
MI6:GR €7.77 EUR +0.052

MI6 Competitors

Market data is delayed at least 15 minutes.

Company Last Change
EMC Insurance Group Inc $32.59 USD +0.24
Horace Mann Educators Corp $34.29 USD +0.97
Navigators Group Inc/The $78.69 USD +0.76
State Auto Financial Corp $24.29 USD +0.32
United Fire Group Inc $31.74 USD +0.70
View Industry Companies
 

Industry Analysis

MI6

Industry Average

Valuation MI6 Industry Range
Price/Earnings 14.9x
Price/Sales 0.6x
Price/Book 0.9x
Price/Cash Flow 13.1x
TEV/Sales 0.1x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact MEADOWBROOK INSURANCE GROUP, please visit www.meadowbrook.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.