Meadowbrook Announces Shareholders' Dividends of $0.02 per Share

Meadowbrook Insurance Group Inc. reported net income of $8.3 million during the first quarter, down 20% from the $10.4 million reported in the prior-year quarter. The company attributed the reduced profits to a reduction in underwriting income. Gross written premiums declined to $190.1 million in the first quarter from $201.7 million in the first quarter of 2014. "The decline in premium, as expected, is attributable to the termination of, or the reduction of premium in certain programs for which pricing and/or underwriting risk did not meet the Company's targets," said the comp...