Meadowbrook Insurance Group, Inc. Reports Third Quarter EPS of $.28

Meadowbrook Insurance Group, Inc. MIG reported that third quarter 2010 net operating income, a non-GAAP measure, grew by 25.0% or $2.9 million to $14.6 million, or $0.27 per diluted share, compared to $11.7 million, or $0.20 per diluted share, in the third quarter of 2009. Net income increased 36.5% to $15.0 million, or $0.28 per diluted share, compared to $11.0 million, or $0.19 per diluted share, in the prior year quarter. Third quarter gross written premium increased 8.0% to $204.2 million, compared to $189.0 million in the third quarter of 2009. The increase in premium is primarily due to new business initiated in the second half of 2009. For the three months ended September 30, 2010, net earned premium increased 25.1% to $171.9 million, compared to $137.4 million in the third quarter of 2009.