Last $5.83 USD
Change Today +0.07 / 1.22%
Volume 108.9K
MIG On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

meadowbrook insurance group (MIG) Snapshot

Open
$5.74
Previous Close
$5.76
Day High
$5.83
Day Low
$5.74
52 Week High
07/23/13 - $8.90
52 Week Low
03/3/14 - $5.24
Market Cap
292.0M
Average Volume 10 Days
170.0K
EPS TTM
$-0.33
Shares Outstanding
50.1M
EX-Date
03/19/14
P/E TM
--
Dividend
$0.08
Dividend Yield
1.37%
Current Stock Chart for MEADOWBROOK INSURANCE GROUP (MIG)

meadowbrook insurance group (MIG) Related Businessweek News

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meadowbrook insurance group (MIG) Details

Meadowbrook Insurance Group, Inc. operates as a commercial insurance underwriter and insurance administration services company in the United States. The company markets and underwrites specialty property and casualty insurance programs and products on an admitted and non-admitted basis. It offers admitted programs that provide coverage for the food service industry, educators, physicians, agricultural businesses, and public entities; workers’ compensation insurance; and excess and surplus lines insurance for restaurants, bars/taverns, apartments, hotels/motels, and contractors’ liability. The company also provides non-admitted programs for pet-sitters, oil and gas contractors, and professional liability; and insurance programs for excess workers’ compensation, environmental, and marine markets. In addition, it offers program and product design, underwriting risk selection and policy issuance, claims administration and handling, and loss prevention and control services. Further, the company provides risk-bearing entities formation and administration services for clients and agents; and operates retail property and casualty insurance agencies that offer commercial, personal lines, life, and accident and health insurance. Meadowbrook Insurance Group, Inc. offers its products through a network of independent retail agents, wholesalers, program administrators, and general agents. The company was formerly known as Meadowbrook Insurance Agency. Meadowbrook Insurance Group, Inc. was founded in 1955 and is headquartered in Southfield, Michigan.

954 Employees
Last Reported Date: 03/5/14
Founded in 1955

meadowbrook insurance group (MIG) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $750.0K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $350.0K
Executive Vice President
Total Annual Compensation: $435.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $380.0K
Senior Vice President of Field Operations
Total Annual Compensation: $330.0K
Compensation as of Fiscal Year 2013.

meadowbrook insurance group (MIG) Key Developments

Meadowbrook Insurance Group Inc. Announces Director Nominations

Meadowbrook Insurance Group Inc. announced the director nominations of Winifred A. Baker, Robert H. Naftaly, Robert W. Sturgis, and Jeffrey A. Maffett for a three year term expiring in 2017, and the director nomination of Bruce E. Thal for a two-year term expiring in 2016. The company announced that the director nominations are included in Meadowbrook's 2013 Proxy Statement for election at its Annual Meeting scheduled for May 16, 2014.

Meadowbrook Insurance Group Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Reiterates Earnings Guidance for 2014

Meadowbrook Insurance Group Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net written premiums of $144,409,000 compared to $110,653,000 a year ago. Total revenues were $196,652,000 compared to $299,880,000 a year ago. Loss before income taxes and equity earnings of affiliates and unconsolidated subsidiaries was $27,323,000 compared to income before income taxes and equity earnings of affiliates and unconsolidated subsidiaries of $50,788,000 a year ago. Net loss was $11,850,000 or $0.24 per share compared to net income of $37,987,000 or $0.76 per share a year ago. Net operating loss was $14,772,000 compared to net operating income of $47,000 a year ago. Cash flows used in operating activities were $16.9 million, compared to cash flows used in operating activities of $5.8 million for the three months ended December 31, 2012. For the nine months, the company reported net written premiums of $691,637,000 compared to $797,503,000 a year ago. Total revenues were $791,171,000 compared to $996,763,000 a year ago. Loss before income taxes and equity earnings of affiliates and unconsolidated subsidiaries was $145,746,000 compared income before income taxes and equity earnings of affiliates and unconsolidated subsidiaries of $1,253,000 a year ago. Net loss was $112,310,000 or $2.25 per share compared to net income of $11,749,000 or $0.23 per share a year ago. Net operating loss was $117,908,000 compared to $28,401,000 a year ago. Book value per common share excluding unrealized gain/loss, net of deferred taxes was $7.96 against $10.24 a year ago. Operating cash flows decreased to $2.0 million as compared to $122.0 million for the twelve months ended December 31, 2012. The decrease in operating cash flows reflects a net cash outflow on the quota share surplus relief treaty and a decrease in cash from underwriting activities. The results for the year ended December 31, 2013 were impacted by an after-tax non-cash goodwill impairment charge of $101.6 million, or $2.04 per diluted share, that was recorded during the second quarter of 2013. The year to date 2013 results were also impacted by the increase in net ultimate loss estimates for 2012 and prior accident years, which added 9.1 percentage points to the GAAP combined ratio. The company reiterated earnings guidance for 2014. For the period, the company expects gross written premium for 2014 to be between $775 million and $800 million. Management also expects the company's net operating income to be between $25 million and $35 million or between $0.50 and $0.70 per share for 2014.

Meadowbrook Insurance Group, Inc. Names Roger S. Walleck as Chief Underwriting Officer

Meadowbrook Insurance Group Inc. announced that Roger S. Walleck, CPCU, AIS has been appointed Chief Underwriting Officer. In this capacity, Mr. Walleck will oversee all underwriting activities for the company and the company's insurance subsidiaries and will report directly to the company's President and Chief Executive Officer, Robert S. Cubbin. In addition, Mr. Walleck will manage the Corporate Loss Control, Regulatory Compliance, Premium Audit and Reinsurance Operations. Mr. Walleck joined the company in 2005 and has over 33 years of commercial underwriting and operations experience. During his tenure at the company, Mr. Walleck has served as Vice President for the company's Florida operation and most recently, as Regional Vice President in Overland Park, Kansas overseeing the commercial insurance business underwritten in the Company's program business. Prior to his tenure with the company, Mr. Walleck was Underwriting Manager, responsible for the New York business market division of Liberty Mutual Insurance Group.

 

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MIG

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Valuation MIG Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.4x
Price/Book 0.7x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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