Baldwin & Lyons, Inc. (NASDAQ:BWINA) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
8-K, is being furnished to Item 2.02 – Results of Operations and
Financial Condition of Form 8-K. This information is not deemed
to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and is
not incorporated by reference into any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such a
filing.
press release announcing the results of its operations for the
first quarter ended March 31, 2017. The Company also posted the
press release, with additional financial and operating
information for the quarter ended March 31, 2017, to its website.
A copy of the press release, including such additional financial
and operating information, is attached as Exhibit 99.1 to this
Form 8-K and incorporated by reference into this Item 2.02 as if
fully set forth herein.
discuss the results of its operations for the first quarter of
2017, the Company presents and will present its results and
operations in the manner it believes will be the most meaningful,
which includes some measures that are not based on accounting
principles generally accepted in the United States (GAAP).
non-GAAP financial measure, which is defined as income excluding
pre-tax investment gains and losses. This financial measure is
used to evaluate the Company’s performance because the
recognition of investment gains and losses in any given period is
largely discretionary as to timing and could distort the analysis
of trends. The Company believes that the defined term is used
commonly in the property/casualty insurance industry and that
equity analysts and the Company’s significant shareholders
exclude gains and losses on investments in their analysis of the
Company’s results for the same reason.
herein, are commonly used in the property/casualty insurance
industry and are applied to the Company’s GAAP underwriting
results.
| (d) |
Exhibits.
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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. Baldwin & Lyons, Inc. (NASDAQ:BWINA) Recent Trading Information
Baldwin & Lyons, Inc. (NASDAQ:BWINA) closed its last trading session down -0.38 at 23.60 with 2,851 shares trading hands.