Baldwin & Lyons, Inc. Completes Name Change to Protective Insurance Corporation
August 01 2018 - 8:30AM
Baldwin & Lyons, Inc., a property-casualty insurance holding
company in the commercial transportation and workers’ compensation
industries, announces it will begin operating under a new name,
Protective Insurance Corporation, effective today
.
Protective Insurance Corporation will retire the BWINA and BWINB
ticker symbols and will immediately begin trading under new NASDAQ
ticker symbols, PTVCA and PTVCB.
In May 2017, the Corporation’s underwriting subsidiaries
Protective Insurance Company, Sagamore Insurance Company, and
Protective Specialty Insurance Company rebranded under the
Protective Insurance name. The Corporation then decided to move
forward with its own name change to better align its operational
and market identities to reflect its position as a market leader in
its chosen niches within the transportation and workers’
compensation insurance industry.
“Harry Baldwin and Voris Lyons will forever be an instrumental
part of our Corporation’s legacy and a key component in our storied
history,” said Randy Birchfield, President & Chief Executive
Officer, Protective Insurance Corporation. “However, as we move
forward, it is important for our name to reflect our future. We are
forging a path that is innovative and progressive, expanding
rapidly in our core competencies of transportation and workers’
compensation. The Protective name continues to hold meaning, as it
is the first subsidiary that Harry and Voris founded in 1954. We
believe it is a wonderful reminder of the past that still paves the
way for an incredibly promising future.”
Protective Insurance Corporation’s story begins in 1930, when
Harry Baldwin founded an insurance brokerage, H.C. Baldwin Agency
in Indianapolis, Indiana. He was later joined by Voris Lyons in
1944, who was key in directing the Corporation’s move into a market
niche of self-insured retention coverage for trucking fleets. In
1954, they created Protective Insurance Company as a subsidiary to
write property & casualty coverage for their rapidly growing
commercial motor carrier business. The holding company name then
changed to Baldwin & Lyons, Inc. in 1966. Over the next several
decades, Baldwin & Lyons grew through organic growth, serviced
by new subsidiaries and expanding into other lines of business.
Today, the Corporation’s subsidiaries provide high-quality,
customized insurance products and services for commercial motor
carriers and workers’ compensation through their retail and program
channels. Protective Insurance Corporation operates out of its
Carmel, Indiana headquarters, where it employs over 530 employees
and is one of the largest public companies in the state.
For more information, visit the company’s new website at
www.protectiveinsurancecorporation.com.
About Protective Insurance Corporation
Founded in 1930, Protective Insurance Corporation serves as the
publicly-traded holding company for several property-casualty
insurance subsidiaries including Protective Insurance Company,
Sagamore Insurance Company and Protective Specialty Insurance
Company. Through its subsidiaries, the Corporation provides
liability and workers’ compensation coverage for trucking and
public transportation fleets, along with trucking industry
independent contractors. Additionally, the Corporation’s
subsidiaries offer workers’ compensation coverage for a variety of
classes outside the transportation industry. Protective Insurance
Corporation is based in Carmel, Indiana. For more information,
visit www.protectiveinsurancecorporation.com.
Investor Contact:William Vens
wvens@protectiveinsurance.com(317) 429-2554
Media ContactJim Shertzer (317) 806-1900, ext.
4742 jshertzer@protectiveinsurance.com
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