Current Report Filing (8-k)
November 03 2020 - 4:34PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE C
OMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 3, 2020
Protective Insurance Corporation
(Exact Name of Registrant as Specified in Charter)
Registrant’s Telephone Number, Including Area Code: 317-452-7426
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):
Securities registered pursuant to Section 12(b) of the Act:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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 November 3, 2020, Protective Insurance Corporation (the “Company”) issued a press release announcing the results of its operations for the quarter and nine months ended September 30, 2020. The Company also posted the press release, with additional financial and operating information for the quarter and nine months ended September 30, 2020, 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 third quarter of 2020, 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 uses 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 and losses, 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.
99.1 Protective Insurance Corporation press release dated November 3, 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
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