Specialty Underwriters' Alliance, Inc. Reports 2007 Fourth Quarter and Full Ye...( CHICAGO March 6 /- Specialty Unde...),Health

CHICAGO, March 6 /PRNewswire-FirstCall/ -- Specialty Underwriters' Alliance, Inc. (Nasdaq: SUAI) today announced financial results for the quarter and year ended December 31, 2007.

2007 Annual Highlights

-- Earnings per share of $0.82 for the year ended 2007, up approximately

50% versus $0.55 for the prior year;

-- Total 2007 revenues of $162.0 million compared to $117.3 million in

2006;

-- Gross written premiums of $160.4 million in 2007 compared to

$153.2 million in 2006;

-- Net income of $12.6 million in 2007 versus $8.4 million in 2006.

Fourth Quarter Highlights

-- Earnings per share of $0.20 compared to $0.18 for the fourth quarter

2006;

-- Fourth quarter 2007 revenues of $42.0 million versus $32.6 million for

the comparable quarter 2006;

-- Gross written premiums of $43.3 million versus $46.0 million for the

comparable quarter 2006;

-- Net income of $3.2 million versus $2.9 million for the comparable

quarter 2006.

Courtney Smith, president and chief executive officer, stated "Our workers' compensation and commercial auto lines production were in line with expectations. While the effects of a softening market can be seen in the contraction in our general liability business in the fourth quarter, we have made great strides in continuing to improve our top line, including the signing of three additional Partner Agents, adding two customer programs, partnering with an 'A' rated company for our public entity customers and expanding our geographic coverage. We are pleased to announce that today we have signed Northern Star Management, Inc., our ninth Partner Agent, to write commercial general liabil
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