NSEC - NSEC STOCK NEWS

The National Security Group (NASDAQ:NSEC) reported a significant reduction in net losses for Q2 2021, showing a net loss of $1,039,000 or $0.42 per share, compared to a loss of $4,726,000 or $1.87 per share in Q2 2020. Total revenues for the quarter stood at $16,243,000. The company benefitted from a $5,027,000 decrease in claims, largely due to fewer severe weather events. For YTD June 30, 2021, net losses improved to $317,000 from $5,586,000 last year, despite a modest decline in net premiums earned. The P&C segment had a combined ratio of 117.6%, down from 152.7% in the prior year.

On July 23, 2021, The National Security Group, Inc. (NASDAQ:NSEC) announced a quarterly dividend of $0.06 per share, payable on August 31, 2021, to shareholders of record on August 9, 2021. The firm, based in Elba, Alabama, offers a range of insurance products, including property, casualty, life, and accident insurance, across ten states. Founded in 1947, it primarily focuses on personal lines property coverage and specialty market insurance.

The National Security Group reported a net income of $722,000 for Q1 2021, translating to $0.29 per share, a significant turnaround from a net loss of $860,000 ($0.34 loss per share) in Q1 2020. This improvement stemmed from a $1,280,000 reduction in claims, particularly from weather-related incidents. Gross premiums written rose by 9.9% to $18,834,000. Investment gains amounted to $310,000, a notable improvement over Q1 2020's losses. Total revenues reached $16,312,000, up from $15,074,000 year-over-year.

AM Best has revised the outlooks to negative for National Security Fire and Casualty Company (NSFC) and its affiliated companies, including National Security Insurance Company (NSIC) and Omega One Insurance Company. The FSR for NSFC and NSIC remains B++, while Omega is rated B+. This revision reflects pressure on NSFC's balance sheet due to significant capital declines from catastrophic losses. Concerns arise over the company's ability to manage capital in future catastrophe events, especially given its geographic concentration in the southeastern U.S.

On April 9, 2021, The National Security Group declared a quarterly cash dividend of $0.06 per share, payable on May 28, 2021. Shareholders of record as of May 3, 2021 are eligible for this dividend. The company, founded in 1947 and based in Elba, Alabama, operates through its insurance subsidiaries across ten states, offering a range of policies including property, casualty, and life insurance. This announcement reinforces the company’s commitment to providing returns to shareholders.

The National Security Group, Inc. (NASDAQ:NSEC) reported its financial results for the year and three months ended December 31, 2020. Key figures include gross premiums written of $14,976,000 for Q4 2020, a slight increase from $14,895,000 in Q4 2019, and a total for the year at $68,782,000 compared to $67,529,000 in 2019. Net premiums written also showed growth, reaching $13,218,000 in Q4 2020 versus $12,996,000 in Q4 2019, while annual figures were $61,406,000 against $60,411,000 in 2019. Overall, the results reflect stable performance amidst competitive market conditions.

On January 22, 2021, The National Security Group, Inc. (NASDAQ:NSEC) declared a quarterly dividend of $0.06 per share. This dividend is scheduled for payment on February 26, 2021, to shareholders recorded as of February 8, 2021. The company specializes in property, casualty, and life insurance across ten states, providing personal lines, specialty market dwelling fire and windstorm insurance, as well as life and health insurance products. Founded in 1947 and based in Elba, Alabama, it continues to serve a diverse client base.

The National Security Group, Inc. (NASDAQ:NSEC) reported a net loss of $778,000 for Q3 2020, translating to a loss per share of $0.30, compared to a net income of $430,000 in Q3 2019. The P&C segment faced increased claims primarily due to Hurricane Laura and Hurricane Sally, resulting in a combined ratio of 118.7%. Year-to-date, the company reported a net loss of $6,364,000 versus a profit of $2,286,000 for the same period in 2019. Investment gains were lower at $988,000, significantly impacted by elevated weather-related losses, impacting future profitability and financial stability.

The National Security Group, Inc. (NASDAQ:NSEC) announced a quarterly dividend of $0.06 per share on October 16, 2020. The dividend is set to be paid on November 30, 2020, to shareholders of record by November 2, 2020. This reflects the company’s commitment to providing returns to its shareholders while operating through its diverse insurance services across ten states, including property, casualty, and life insurance.