Baldwin & Lyons, Inc. (NASDAQ:BWINA) Files An 8-K Other EventsItem 8.01. Other Events
On September 21, 2017, Baldwin & Lyons, Inc. (the "Company")entered into a stockrepurchase plan (the "Plan") for the purpose of repurchasing shares of itscommon stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. This Plan has been established to, and as part of, the Company's share repurchase programfor up to 2,464,209 shares of the Company's Class A or Class B common stock,which was previously announced on September 5, 2017.
The Company's designated broker under the Planhas the authority to repurchase up to $17.5 million, at various pricing thresholds, of the Company's Class A or Class B common stock through March 5, 2018, unless terminated earlier in accordance with the terms of the Plan. Because repurchases under thePlan will be subject to price, market volume and timing constraints specified in the Plan, there is no assurance as to theexact number of shares that will be purchased under the Plan, if any,or the timing ofany repurchases. The Company may terminate the Plan at any time.
About Baldwin & Lyons, Inc. (NASDAQ:BWINA)
Baldwin & Lyons, Inc. (B&L) through its divisions and subsidiaries, is engaged in marketing and underwriting property and casualty insurance, including limited assumption of risks as a reinsurer of other companies. The Company operates in two segments: property and casualty insurance, and reinsurance. The property and casualty insurance segment provides multiple line insurance coverage primarily to fleet transportation companies, as well as to independent contractors who contract with fleet transportation companies. In addition, the Company provides private passenger automobile products to individuals, workers’ compensation coverage to small businesses and professional liability products on a selective basis. The reinsurance segment accepts professional liability cessions from other insurance companies. Its subsidiaries are Protective Insurance Company, Protective Specialty Insurance Company, Sagamore Insurance Company, B&L Brokerage Services, Inc. and B&L Insurance, Ltd.