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12. Subsequent Event
3 Months Ended
Mar. 31, 2014
Notes to Financial Statements  
12. Subsequent Event

Note 12 – Subsequent Event

 

The Company has evaluated events that occurred subsequent to March 31, 2014 through the date these financial statements were issued for matters that required disclosure or adjustment in these condensed consolidated financial statements.

 

Dividends Declared and Paid

 

On May 13, 2014, the Company’s board of directors approved a dividend of $.04 per share payable in cash on June 13, 2014 to stockholders of record as of May 30, 2014.

 

Election to Reduce Personal Lines Quota Share

 

On May 12, 2014, the Company notified the personal lines reinsurers of its election to reduce the ceding percentage in the personal lines quota share treaty from 75% to 55% effective July 1, 2014.