No major cats through the end of the year?! We'll see soon enough if 3rd qtr showed improvement due to rate increases, lower cat activity. 4th quarter '12 impacted $20M by Sandy via Mercer. No Sandy, hopefully +$20M over last year.
They beat Q3 estimates:
The Cedar Rapids insurer posted net income of $11.7 million, or 45 cents per share, for the quarter that ended on Sept. 30, compared with net income of $8.7 million, or 34 cents per share, for the same period of 2012. Analysts on average had expected earnings of 37 cents per share, according to Thomson Reuters. -