EMC Insurance Group Inc. : Comments on Financial Information Released by Its Parent Company, Employers Mutual Casualty Company, and Announces 2011 Fourth Quarter and Year-End Earnings Call Access Information
01/31/2012 | 10:50am
Employers Mutual Casualty Company (Employers Mutual), the parent company
of EMC Insurance Group Inc. (NASDAQ:EMCI) (the "Company"), today
announced to its employees that the statutory combined trade ratio of
the EMC Insurance Companies for the year ended December 31, 2011 was
115.7 percent. This announcement was made in conjunction with a
company-wide disclosure of the results of Employers Mutual's 2011
contingent salary plan. This statutory combined trade ratio is not
prepared on the basis of generally accepted accounting principles (GAAP)
and reflects the operating results of all subsidiaries and affiliates of
Employers Mutual, including the subsidiaries of the Company.
Additional year-end 2011 statutory financial information released by
Employers Mutual included net written premium growth of 7.9 percent and
a decline in policyholders' surplus of 4.3 percent.
The Company's statutory combined trade ratio for the year ended December
31, 2011 was 115.5 percent. This statutory combined trade ratio should
not be considered indicative of the GAAP-basis combined ratio or any
other operating results that will be reported by the Company for the
year ended December 31, 2011.
The Company's 2011 fourth quarter and year-end earnings results will be
released before the market opens on February 21, 2012. An earnings call
will be held at 11:00 a.m. eastern standard time on that date to allow
securities analysts, stockholders and other interested parties the
opportunity to hear management discuss the Company's 2011 fourth quarter
and year-end earnings results, as well as its expectations for 2012.
TELECONFERENCE: Dial-in information
for the call is toll-free 1-877-407-9205 (International:
1-201-689-8054). The event will be archived and available for digital
replay through May 20, 2012. The replay access information is toll-free
1-877-660-6853 (International: 1-201-612-7415); passcodes (both required
for playback) are account no. 286 and conference ID no. 387600.
WEBCAST: A webcast of the
teleconference can be accessed at the Company's investor relations page
at www.emcins.com/ir.
The archived webcast will be available until May 20, 2012.
TRANSCRIPT: A transcript of the
teleconference will be available on the Company's website soon after the
completion of the teleconference.
ABOUT EMCI: EMC Insurance Group Inc.
is a publicly held insurance holding company with operations in property
and casualty insurance and reinsurance. The Company's common stock
trades on the Global Select Market tier of the NASDAQ OMX Stock Market
under the symbol EMCI. EMCI's parent company is Employers Mutual
Casualty Company (EMCC). EMCI and EMCC, together with their subsidiary
and affiliated companies, conduct operations under the trade name EMC
Insurance Companies.
EMC Insurance Group Inc.
Anita Novak (Investors)
515-345-2515
or
Lisa
Hamilton (Media)
515-345-7589
© Business Wire 2012
