Icc Hldgs Inc - ICCH STOCK NEWS

ICC Holdings, Inc. (NASDAQ: ICCH) reported mixed financial results for Q3 and the first nine months of 2022. Net earnings for Q3 were $630,000 ($0.21/share), an increase from $424,000 ($0.14/share) in Q3 2021. However, for the nine months, a net loss of $(3,658,000) ($1.20/share) was noted, primarily due to unrealized investment losses totaling $18.5 million. Direct premiums written rose by 13.9% in Q3, while losses and expenses surged by 17.8% to $10.4 million. The company's book value per share decreased to $17.95 from $22.69. Optimistically, the management asserts profitability in core operations amidst market challenges.

ICC Holdings, Inc. (NASDAQ: ICCH) reported a net loss of $4,129,000, or $1.35 per share, for Q2 2022, a shift from net earnings of $563,000 in Q2 2021. For the first half of 2022, the net loss reached $4,289,000, down from earnings of $1,725,000 in 2021, primarily due to increased unrealized investment losses. Direct premiums written grew by 14.7% in Q2 and 21.1% YTD, driven by renewal premiums. Losses and settlement expenses rose by 59.4% in Q2 due to prior claims and higher earned premiums. Management remains focused on profitability and operational efficiency despite market volatility.

ICC Holdings, Inc. (NASDAQ: ICCH) reported its first-quarter 2022 financial results, revealing a 29% increase in direct premiums written, reaching $19.57 million. Net premiums earned grew by 32.9% to $16.02 million, supported by less reinsurance ceded. However, the company faced a net loss of $160,000 or $0.05 per share, down from earnings of $1.16 million in Q1 2021. Losses and settlement expenses rose by 30.7% to $10.2 million, while total assets slightly decreased by 0.7%. Management expressed optimism about growth and geographic expansion efforts amidst market pressures.

ICC Holdings, Inc. (NASDAQ: ICCH) reported strong financial results for 2021, with direct premiums written increasing by 20.5% to $71,092,000. The fourth quarter alone saw a 29.2% growth to $19,047,000. Net earnings rose to $4,290,000, or $1.41 per share, compared to $3,531,000, or $1.17 per share in 2020. Despite higher losses and acquisition costs, the company achieved a book value per share of $22.74. The acquisition of Katkin enhances its service offerings. Total assets grew by 8.8% to $200,149,000, reflecting strong operational performance.

ICC Holdings, Inc. (NASDAQ: ICCH) reported a net income of $424,000 ($0.14/share) for Q3 2021, slightly up from $404,000 ($0.13/share) in Q3 2020. For the nine months, net earnings reached $2,149,000 ($0.71/share), contrasting with a net loss of $787,000 in 2020. Direct premiums written increased by 26.3% to $18,357,000 in Q3, with a 17.6% rise to $52,045,000 for the nine months. Despite a decrease in net investment income, total assets grew by 6.2%. The company's combined ratio improved, indicating healthier underwriting performance. Management expresses optimism for future growth.

ICC Holdings, Inc. (NASDAQ: ICCH) reported a net earnings of $563,000 ($0.18 per share) for Q2 2021, down from $782,000 ($0.26 per share) in Q2 2020, largely due to decreased unrealized equity gains. Year-to-date, the company achieved net earnings of $1,725,000 ($0.57 per share), a notable improvement from a loss of $1,191,000 in 2020. Direct premiums written rose by 24.2% in Q2, reflecting recovery in the food and beverage sector. Despite a decline in net investment income, losses and settlement expenses decreased. The company’s book value per share increased to $22.31.

AM Best has upgraded the Financial Strength Rating of Illinois Casualty Company (ICC) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good). Concurrently, the Long-Term ICR for ICC Holdings, Inc. (ICCH) has been upgraded to “bbb-” (Good) from “bb+” (Good). These upgrades are attributed to ICC's strong balance sheet, risk-adjusted capitalization, and adequate operating performance. The outlook for both credit ratings is stable, reflecting ICC's solid performance despite pandemic impacts.

ICC Holdings, Inc. (NASDAQ: ICCH) reported a net income of $1.16 million, or $0.38 per share, for Q1 2021, reversing a $1.97 million loss in Q1 2020. This growth was attributed to strong equity market performance, despite a 7.4% decline in net premiums earned to $12.05 million. Direct premiums rose by 2.5% to $15.17 million. The company’s book value per share fell 1.4% to $21.76, influenced by decreasing fixed income security values. The loss ratio increased to 64.8%, and the combined ratio reached 101.8%. Management expressed cautious optimism for continued premium growth.

ICC Holdings, Inc. (NASDAQ: ICCH) reported unaudited financial results for Q4 and 2020. Net earnings for Q4 2020 reached $4.32 million ($1.43 per share), up from $3.58 million ($1.19 per share) in Q4 2019, aided by improved underwriting and a PPP loan forgiveness gain. However, 2020 net earnings declined to $3.53 million ($1.17 per share) from $4.29 million ($1.43 per share) in 2019. Direct premiums written rose 0.7% in Q4 but fell 6.4% for the year, reflecting COVID-19's impact. The book value per share increased by 9.7% to $22.08. Losses and settlement expenses rose 18.8% in Q4.