Press Release:
Press Release
News Article March 2005
DAVIE, Fla., March 14 /PRNewswire-FirstCall/ -- Bristol West Holdings, Inc. (NYSE:BRW) today announced that its Board of Directors has authorized the repurchase of up to $30 million of the Company's outstanding common stock. Under this program, share purchases may be made from time to time in the open market depending on share price, market conditions and other factors. The Company has engaged Bear, Stearns & Co. Inc. to administer the stock repurchase program.
James R. Fisher, Chairman and CEO, said, "We are focused on maintaining our strategy of controlled and profitable growth and currently have sufficient capital to support our operations. We have repeatedly stated that we are willing to operate with a reasonable amount of operating leverage given our discipline and the strength of our pricing and underwriting controls. We also have put in place standby facilities to support our growth in the form of our variable quota share reinsurance agreement and our undrawn revolving credit facility. At recent trading levels we believe our stock is attractively priced and we can repurchase shares with existing organically generated funds. We believe our strategy will continue to produce attractive returns on equity and that repurchasing shares is in the best interests of our shareholders."
This press release is provided in good-faith by Chiltern Magazine Services Ltd ("CMS") as a service to users of www.telecomsinfo.com. Whilst all care is taken in sourcing and preparing material includede here, any error or incorrect content cannot form the basis for any legal action against the site-owner. Users are advised to check the accuracy of any statements before relying upon them. Likewise, any forward-looking statements made by the author of the press release should be treated as such.
CMS, P&A House, Alma Road, Chesham, Bucks. HP5 3HB, UKTel: +44 (0)1494 771734
Fax: +44 (0)1494 778994
e-mail: Editor, CMS Businessinfo
copyright © 2008 all rights reserved
For more information about us, visit CMS Businessinfo.
