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
-- 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
-- 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
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
|SOURCE Specialty Underwriters' Alliance, Inc.|
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