-- a downgrade in the financial strength rating of our insurance
subsidiaries could reduce the amount of business we are able to write;
-- changes in interest rates could adversely impact our results of
operation, cash flows and financial condition;
-- our status as an insurance holding company with no direct operations
could adversely affect our ability to meet our debt obligations and
fund future share repurchases;
-- the loss of one or more of our key employees could adversely affect our
-- unpredictable court decisions could have a material adverse financial
impact on our business operations if the amount of the award is
expanded beyond the intended insurance coverage;
-- applicable law and certain provisions in our articles and bylaws may
prevent and discourage unsolicited attempts to acquire our Company that
may be in the best interest of our shareholders;
-- any other factors listed or discussed in the reports filed by APCapital
with the Securities and Exchange Commission under the Securities
Exchange Act of 1934.
APCapital does not undertake, and expressly disclaims any obligation, to update or alter its statements whether as a result of new information, future events or otherwise, except as required by law.
Definition of Non-GAAP Financial Measures
APCapital uses operating income, a non-GAAP financial measure, to evaluate APCapital's underwriting performance. Operating income differs from net income by excluding the after-tax effect of realized capital gains and (losses).
Although the investment of premiums to generate investment income and
capital gains or (losses) is an integral part of an insurance company's
operations, APCapital's decisions to realize capital gains or (losses) are
independent of the insurance underwritin
|SOURCE American Physicians Capital, Inc.|
Copyright©2007 PR Newswire.
All rights reserved