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Baldwin & Lyons' profit falls on smaller investment gains

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Indianapolis-based Baldwin & Lyons Inc. on Thursday reported a 33-percent drop in profit in the third quarter despite writing a record number of premiums during the period.

The transportation industry insurer earned $7.8 million, or 52 cents per share, in the latest period, down from $11.7 million, or 78 cents per share, in the third quarter of 2012.

Premiums written by the firm’s insurance subsidiaries hit $96.6 million, an increase of nearly 19 percent over the third quarter a year ago and 4 percent over the second quarter.

The decline in profit was attributable to smaller investment gains. Baldwin & Lyons realized investment gains of $900,000 during the third quarter, compared with $5.7 million in the year-ago period.

Baldwin & Lyons’ Class B shares rose 40 cents Thursday morning, to $27.40 each. It’s Class A shares fell 47 cents, to $26.16 each.   


 

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

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