Login


Notice: Passwords are now case-sensitive

Remember Me
Register a new account
Forgot your password?

Meadowbrook Incurs $115.4M Impairment from Downgrade

Monday, August 19, 2013 | 0

Beleaguered insurer Meadowbrook expects to incur a provisional impairment of $115.4 million related to its Aug. 2 ratings downgrade.The $115.4 million noncash goodwill impairment caused Meadowbrook to revise its second-quarter results to reflect a net operating loss of $115.1 million.Meadowbrook said gross written premium dropped to $234.1 million in the second quarter ended June 30, 2013, compared to $256.1 million in the comparable period of 2012. The insurer said the anticipated decrease primarily reflects the impact of business that was discontinued last year. This decrease was largely off...

Purchase this story for only $7.99!


For access to all of our articles, check out our subscription options.

Comments

Related Articles