INDIANAPOLIS, Oct. 17, 2008 (GLOBE NEWSWIRE) -- Baldwin & Lyons, Inc. (Nasdaq:BWINA) (Nasdaq:BWINB) today announced that, based on information received to date from its ceding reinsurers, the estimated after tax loss associated with third quarter hurricanes, including Hurricanes Dolly, Gustav and Ike, is $3.0 million, net of retrocessions and provisions for associated reinstatement premiums.
Management cautions that the Company's preliminary loss estimate is based on losses reported to-date, portfolio modeling and discussions with ceding reinsurers and brokers. Consequently, the actual net impact on the Company's results arising from these hurricanes could differ from the current estimate.
About the company:
Baldwin & Lyons, Inc., based in Indianapolis, Indiana, is a specialty property-casualty insurer with a leading position in providing liability coverage for large and medium-sized fleets in the transportation industry. Additionally, the company's product offerings include coverage for private passenger automobile and small fleet trucking as well as a limited program of reinsurance assumed.
Cautionary Note Regarding Forward-Looking Statements
Forward-looking statements in this report are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve inherent risks and uncertainties. Readers are encouraged to review the Company's annual report for its full statement regarding forward-looking information.