1347 Property (PIH) Reports Q3 Loss of $0.38 on Revenues of $9.35M

1347 Property (NASDAQ: PIH) reported Q3 EPS of ($0.38). Revenue for the quarter came in at $9.35 million, versus $0 reported last year.

Third Quarter 2017 Financial and Operating Highlights

• Net loss was approximately $(2.3) million, or $(0.38) per diluted share, compared to net loss of $(1.8) million, or $(0.30) per diluted share.
• Gross premiums written rose 22.9% to $17.2 million from $14.0 million.
• Net premiums earned grew 21.0% to $8.6 million from $7.1 million.
• Gross losses from Hurricane Harvey estimated to be $23.0 million. Company retention of $5.0 million before tax.
• Net combined ratio was 148.1%; compared with 144.1% in the prior year quarter.
• Book value per share increases to $7.62 at September 30, 2017 compared to $7.57 at September 30, 2016.
• Direct in-force policy count at September 30, 2017 increased 23.8% to 39,500 from 31,900 a year ago.

For earnings history and earnings-related data on 1347 Property (PIH) click here.

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