Corporate Profile for American Bankers Insurance Group, dated Feb. 16, 1996.available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier A monospaced typeface originating from the typewriter that is commonly used for letters. It is still considered by many to be the "appropriate" typeface for business correspondence. , NewsBank, Information Access Company, Prodigy An online information service that provides access to the Internet, e-mail and a variety of databases. Launched in 1988, Prodigy was the first consumer-oriented online service in the U.S. , Comtex, and many others. -0- Published date: Feb. 16, 1996 Company name: American Bankers Insurance Group Inc.
Address: 11222 Quail Roost Drive
Miami, FL 33157
Telephone No.: 305/253-2244 Chief Executive Officer: Gerald N. Gaston Investor Relations Contact: Bruce Camacho Business number: 305/252-7060 Trading symbol: NASDAQ:ABIG Industry: Insurance
Company description: American Bankers Insurance Group (ABIG)
provides affordable, specialty insurance products and services to a
segment of the population which is underserved by the insurance
industry.
ABIG concentrates on marketing through financial institutions,
retailers and other entities offering consumer financing as a
regular part of their business.
ABIG focuses on the continuing development of new and proven
profitable products and on new distribution channels that will
sustain long-term profitability and steady growth.
ABIG, through its insurance subsidiaries, operates in the United
States, Canada, the Caribbean, Latin America and the United Kingdom.
Financial Highlights - 1995
1995 1994 %
Gross Collected Premiums $2,286,573 $1,761,100 29.8%
Net Premiums Earned $1,240,713 $1,094,300 13.4%
Net Investment Income $99,400 $74,400 33.6%
Realized Investment Gains $721 $2,700 -73.3%
Total Revenues $1,360,868 $1,186,800 14.7%
Benefits and Commissions $981,197 $878,600 11.7%
Operating and Interest Expense $264,009 $228,400 15.6%
Net Income $72,260 $56,500
Return on Equity 15.7% 14.1%
Assets $2,987,996 $2,432,500 22.8% Stockholders' Equity $512,997 $405,900 26.4% Gross Life Insurance in Force $32,129,000 Number of Shares Outstanding 20,200 20,200 Number of Employees 2,333 2,206 Net Income (fully diluted) $3.48 $2.74 27.0% Book Value at Year End $25.34 $20.15 25.8% Market Value at Year End $39.00 $24.00 62.5% Cash Dividends $0.75 $0.71 5.6% CONTACT: American Bankers American Banker is a daily newspaper covering the financial services industry. Founded in 1835 and based in New York, American Banker's 70 reporters and editors in six cities monitor developments and breaking news affecting banks. Insurance Group Inc., Miami Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Camacho, 305/252-7060 |
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