CARMEL, Ind. (AP) _ Protective Insurance Corporation-B (PTVCB) on Tuesday reported a first-quarter loss of $22.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Carmel, Indiana-based company said it had a loss of $1.56. Losses, adjusted for investment costs, came to 2 cents per share.
The property and casualty insurance underwriter posted revenue of $90.8 million in the period.
Protective Insurance shares have dropped 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.21, a decrease of 14% in the last 12 months.