Investments propel Baldwin & Lyons profit

Back to TopCommentsE-mailPrintBookmark and Share
Baldwin & Lyons Inc. said today that its profit last quarter was the second-highest in company history, as investment gains from recovering equity markets helped boost performance.

The Indianapolis-based trucking-fleet insurer earned $14.1 million, or 96 cents per share, compared with $6.3 million, or 41 cents per share, in the prior-year period.

The earnings far exceeded analyst expectations of 39 cents per share.

Investment gains added 55 cents per share to second-quarter profit, compared with a loss of 13 cents per share the same time a year ago.

Quarterly revenue rose from $49.3 million to $58.6 million.

Premiums written by Baldwin's insurance companies were flat compared with the second quarter of 2008.

Company shares increased nearly 2 percent, to $21.49 cents each, in mid-morning trading.

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
thisissue1-092914.jpg 092914

Subscribe to IBJ