February 8, 2018 / 11:51 AM / 2 months ago

BRIEF-EMC Insurance Group Posts Q4 Loss Per Share $0.06

Feb 8 (Reuters) - EMC Insurance Group Inc:

* EMC INSURANCE GROUP INC REPORTS 2017 FOURTH QUARTER AND YEAR-END RESULTS AND ANNOUNCES 2018 NON-GAAP OPERATING INCOME* GUIDANCE

* SEES FY 2018 NON-GAAP OPERATING EARNINGS PER SHARE $1.40 TO $1.60

* QTRLY CATASTROPHE AND STORM LOSSES PER SHARE $0.06

* ‍PROJECTED GAAP COMBINED RATIO OF 100.7 PERCENT FOR YEAR​

* ‍PROJECTED GAAP COMBINED RATIO FOR YEAR HAS A LOAD OF 9.0 POINTS FOR CATASTROPHE AND STORM LOSSES​

* 2018 ‍GUIDANCE ALSO ASSUMES A LOW-SINGLE DIGIT INCREASE IN INVESTMENT INCOME AND AN EFFECTIVE TAX RATE IN MID-TEENS​

* ‍RECORDED ONE-TIME $9.1 MILLION DEFERRED INCOME TAX BENEFIT RESULTING FROM ENACTMENT OF TAX CUTS AND JOBS ACT OF 2017 (TCJA) IN Q4​

* FY2018 EARNINGS PER SHARE VIEW $1.67 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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