Current Report Filing (8-k)
February 25 2020 - 5:14PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event
reported): February 25, 2020
Protective Insurance Corporation
(Exact Name of Registrant as Specified in Charter)
Registrant’s Telephone Number, Including Area Code 317-636-9800
Not Applicable
(Former Name or Former Address, if Changed Since Last
Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
Item 2.02 Results of Operations and Financial Condition
The following information, including the Exhibit to this Form 8-K, is being furnished pursuant to Item 2.02 - Results
of Operations and Financial Condition of Form 8-K. This information is not deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and is not incorporated by reference into any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On February 25, 2020, Protective Insurance Corporation (the “Company”) issued a press release announcing the results of its operations for the quarter and
full year ended December 31, 2019. The Company also posted the press release, with additional financial and operating information for the quarter and full year ended December 31, 2019, to its website. A copy of the press release, including such
additional financial and operating information, is attached as Exhibit 99.1 to this Form 8-K and incorporated by reference into this Item 2.02 as if fully set forth herein.
Throughout its press release and in the conference call to discuss the results of its operations for the fourth quarter of 2019, the
Company presents and will present its results and operations in the manner it believes will be the most meaningful, which includes some measures that are not based on accounting principles generally accepted in the United States (GAAP).
The Company’s management use
s the term
income (loss) from core business operations, a non-GAAP financial measure, which is defined as
income (loss) before federal
income tax expense (benefit) excluding pre-tax realized and unrealized investment gains and losses. This financial measure is used to
evaluate the Company’s operating performance. It separates out the recognition of realized investment gains and losses, and occurrence of unrealized gains, that are often driven by market changes in security valuations versus operating decisions.
The Company believes equity analysts exclude gains and losses on investments in their analysis of the Company’s results.
The combined ratios and the components thereof, as presented herein, are commonly used in the property/casualty insurance industry and are
applied to the Company’s GAAP underwriting results.
Item 9.01 Financial Statements and Exhibits
99.1 Protective Insurance Corporation press release dated February 25, 2020.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PROTECTIVE INSURANCE CORPORATION
February 25, 2020 By: /s/ Jeremy D. Edgecliffe-Johnson
Jeremy D. Edgecliffe-Johnson,
Chief Executive Officer
Protective Insurance (NASDAQ:PTVCB)
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