CHICAGO--(BUSINESS WIRE)--
Unitrin, Inc. (NYSE: UTR) reported today net income of $48.2 million
($0.77 per unrestricted common share) for the first quarter of 2010,
compared to a net loss of $5.6 million ($0.09 per unrestricted common
share) for the first quarter of 2009, an improvement of $53.8 million.
Net income from continuing operations was $48.3 million ($0.77 per
unrestricted common share) for the first quarter of 2010, compared to a
net loss from continuing operations of $7.5 million ($0.12 per
unrestricted common share) for the first quarter of 2009.
Highlights
-- First quarter 2010 pre-tax segment operating profit of $72.4 million,
compared to $21.2 million for the first quarter of 2009.
-- Book value per share increases to $31.66 as debt-to-total capitalization
ratio declines to 22.1%.
-- Fireside Bank reports operating profit of $4.8 million for the quarter;
exit plan exceeding target and Tier 1 capital ratio increases to 23.7%.
-- Unitrin Direct reports break-even results.
Don Southwell, Unitrin's Chairman, President and Chief Executive
Officer, commented, "We are pleased with our strong first quarter
operating and bottom line results and with the continued strengthening
of our balance sheet. The substantial improvement in our results was
driven largely by higher investment returns and lower operating
expenses. In light of the current turbulence in the European Union, it
is worth noting that we do not have any investments in sovereign debt
issued by foreign governments. Operating results improved in each of our
business segments compared to the prior year. Unitrin Direct reported
positive bottom line results for the third consecutive quarter. Our
Career Agency, Kemper and Unitrin Specialty segments all continue to
report solid operating results. Earned premiums declined in line with
our expectations as a result of the actions we took in 2009 and also due
to the continuing soft property and casualty insurance market."
Mr. Southwell also commented, "Our plan to exit the automobile finance
business and fully return to Unitrin the $237 million of capital that we
have invested in Fireside Bank is going extremely well. We now expect
that Fireside Bank will report positive results over the remaining
course of the exit plan. We have also made the decision to substantially
exit the health insurance business and are seeking a buyer for Reserve
National. Reserve National has performed well for us over the years, but
we believe it would be better positioned within an organization for
which health insurance is a core business. We now report Reserve
National as a discontinued operation."
Total Revenues
Total revenues were $661.4 million for the first quarter of 2010,
compared to $655.8 million for the first quarter of 2009. Total revenues
increased due primarily to higher net investment income, lower net
impairment losses recognized in earnings and higher net realized gains
on sales of investments, partially offset by lower earned premiums and
lower automobile finance revenues.
Earned premiums were $549.7 million and $581.2 million for the first
quarters of 2010 and 2009, respectively, a decrease of $31.5 million.
Earned premiums decreased in each of the segments comprising the
Company's insurance operations due primarily to planned reductions.
Automobile finance revenues decreased by $22.3 million for the first
quarter of 2010, compared to the same period in 2009, as Fireside Bank
executes its plan to exit the automobile finance business.
Net investment income increased by $33.8 million for the first quarter
of 2010, compared to the same period in 2009, due primarily to higher
investment income from investments in equity method limited liability
investments. Net investment income from equity method limited liability
investments increased due primarily to higher investment returns.
Net realized gains on sales of investments were $4.5 million for the
first quarter of 2010, compared to $0.8 million for the same period in
2009. (See the "Net Realized Gains on Sales of Investments" table below
for additional information.) The Company cannot anticipate when or if
net realized gains or losses on sales of investments may occur in the
future.
Net impairment losses recognized in earnings were $3.2 million for the
first quarter of 2010, compared to $25.0 million for the same period in
2009. (See the "Net Impairment Losses Recognized in Earnings" table
below for additional information.) The Company cannot anticipate when or
if similar net impairment losses may occur in the future.
Quarterly Segment Results
Unitrin is engaged, through its subsidiaries, in the property and
casualty insurance, life insurance and automobile finance businesses.
The Company conducts its continuing operations through five operating
segments: Kemper, Unitrin Specialty, Unitrin Direct, Career Agency and
Fireside Bank. Reserve National, now classified and reported as a
discontinued operation, and Career Agency previously had comprised the
Company's Life and Health Insurance segment.
NOTE: The Company uses the registered trademark, "Kemper," under
license, for personal lines insurance only, from Lumbermens Mutual
Casualty Company ("Lumbermens"), which is not affiliated with the
Company. Lumbermens continues to use the name, "Kemper Insurance
Companies," in connection with its operations, which are distinct from,
and not to be confused with, Unitrin's Kemper business segment.
The increase in net investment income in each of the operating segments
described below is largely attributable to net investment gains from
investments in Equity Method Limited Liability Investments in the first
quarter of 2010, compared to losses from those same investments in the
first quarter of 2009.
Kemper
Operating profit in the Kemper segment increased by $6.3 million for the
first quarter of 2010, compared to the same period in 2009, due
primarily to higher net investment income and lower insurance expenses,
partially offset by lower favorable loss and loss adjustment expenses
("LAE") reserve development.
Earned premiums in the Kemper segment decreased by $8.5 million for the
first quarter of 2010, compared to the same period in 2009, due
primarily to lower volume, partially offset by higher average premium
rates. Volume decreased due, in part, to planned decreases related to
certain initiatives implemented in 2009 to improve profitability and the
return on required capital.
Unitrin Specialty
Operating profit in the Unitrin Specialty segment increased by $7.5
million for the first quarter of 2010, compared to the same period in
2009, due primarily to higher net investment income and lower personal
automobile losses and LAE as a percentage of earned premiums. Losses and
LAE as a percentage of earned premiums decreased on personal automobile
insurance due primarily to lower frequency, partially offset by higher
severity.
Earned premiums in the Unitrin Specialty segment decreased by $10.2
million for the first quarter of 2010, compared to the same period in
2009, due primarily to lower volume of personal automobile insurance and
commercial automobile insurance, partially offset by higher average
premium rates on personal automobile insurance.
Unitrin Direct
The Unitrin Direct segment reported an operating loss of $1.1 million
for the first quarter of 2010, compared to an operating loss of $8.5
million for the same period in 2009. Operating results for the Unitrin
Direct segment improved due primarily to higher net investment income,
lower insurance expenses and, to a lesser extent, lower incurred losses
and LAE as a percentage of earned premiums. Unitrin Direct reported net
income of $0.1 million for the first quarter of 2010, as the impact of
tax-exempt investment income swung the operating loss to slightly
positive net income.
Earned premiums in the Unitrin Direct segment decreased by $6.6 million
for the first quarter of 2010, compared to the same period in 2009, due
primarily to lower volume resulting, in part, from initiatives to
improve profitability and insurance risk selection, partially offset by
the impact of the Direct Response acquisition.
Career Agency
Operating profit in the Career Agency segment increased by $20.0 million
for the first quarter of 2010, compared to the same period in 2009, due
primarily to higher net investment income and lower losses and LAE on
property insurance, partially offset by the impact of lower volume of
insurance in force.
Earned premiums in the Career Agency segment decreased by $6.2 million
for the first quarter of 2010, compared to the same period in 2009, due
primarily to lower volume resulting from a strategy to reduce the
segment's catastrophe exposure through the non-renewal of dwelling
coverage in certain coastal areas and the continued run-off of dwelling
coverage in all other markets.
Fireside Bank
Near the end of the first quarter of 2009, Fireside Bank began executing
its plan to exit the automobile finance business and wind down its
operations in an orderly fashion over the next several years.
The first year of the exit plan has favorably exceeded the Company's
expectations. On a stand-alone basis, Fireside Bank had capital of
$236.7 million at March 31, 2010, all of which it expects to return to
Unitrin over the next several years. Since the Company announced the
plan to exit the automobile finance business at the end of the first
quarter of 2009, the Tier 1 capital to total average assets ratio at
Fireside Bank has increased from 15.6% to a strong 23.7% at the end of
the first quarter of 2010. Automobile loan receivables have declined
steadily to $630.8 million at March 31, 2010 from $1,125.2 million at
March 31, 2009, while certificates of deposits have declined to $596.1
million at March 31, 2010 from $1,054.4 million at March 31, 2009. The
reserve for loan losses remains strong at 11.8% of loans outstanding.
Cash and U.S. Treasury and Agency investments now represent 40.7% of
certificates of deposits outstanding. The Company expects that the
amount of automobile loan receivables and certificates of deposits
outstanding will decline substantially in 2010 while the Fireside Bank
segment reports slightly positive bottom line results. (See the
"Fireside Bank Exit Plan Key Metrics" table below for additional
information.)
Fireside Bank reported operating profit of $4.8 million for the first
quarter of 2010, compared to an operating loss of $5.2 million for the
same period in 2009. Automobile finance revenues decreased by $22.3
million for the first quarter of 2010, compared to the same period in
2009, due to the lower levels of loans outstanding as a result of the
exit plan.
Consolidated results for the three months ended March 31, 2010 and 2009
are as follows:
Three Months Ended
(Dollars in Millions, March 31, March 31,
Except Per Share Amounts) 2010 2009
Revenues:
Earned Premiums $ 549.7 $ 581.2
Automobile Finance Revenues 30.6 52.9
Net Investment Income 79.5 45.7
Other Income 0.3 0.2
Net Realized Gains on Sales of Investments 4.5 0.8
Other-than-temporary Impairment Losses:
Total Other-than-temporary Impairment Losses (6.2 ) (25.0 )
Portion of Losses Recognized in Other Comprehensive Income 3.0 -
Net Impairment Losses Recognized in Earnings (3.2 ) (25.0 )
Total Revenues 661.4 655.8
Expenses:
Policyholders' Benefits and Incurred
Losses and Loss Adjustment Expenses 393.3 417.7
Insurance Expenses 158.3 173.7
Automobile Finance Expenses 18.4 46.4
Interest Expense on Certificates of Deposits 7.9 12.6
Interest and Other Expenses 16.4 15.2
Total Expenses 594.3 665.6
Income (Loss) from Continuing Operations before
Income Taxes and Equity in Net Income of Investee 67.1 (9.8 )
Income Tax Benefit (Expense) (19.5 ) 1.1
Income (Loss) from Continuing Operations before
Equity in Net Income of Investee 47.6 (8.7 )
Equity in Net Income of Investee 0.7 1.2
Income (Loss) from Continuing Operations 48.3 (7.5 )
Discontinued Operations:
Income (Loss) from Discontinued
Operations before Income Taxes (0.1 ) 3.1
Income Tax Expense - (1.2 )
Income (Loss) from Discontinued Operations (0.1 ) 1.9
Net Income (Loss) $ 48.2 $ (5.6 )
Income (Loss) from Continuing Operations Per Unrestricted
Share:
Basic $ 0.77 $ (0.12 )
Diluted $ 0.77 $ (0.12 )
Net Income (Loss) Per Unrestricted Share:
Basic $ 0.77 $ (0.09 )
Diluted $ 0.77 $ (0.09 )
Dividends Paid to Shareholders (per share) $ 0.22 $ 0.47
Business segment revenues for the three months ended March 31, 2010 and
2009 are as follows:
Three Months Ended
March 31, March 31,
(Dollars in Millions) 2010 2009
Revenues:
Segment Revenues:
Kemper:
Earned Premiums $ 222.4 $ 230.9
Net Investment Income 12.4 2.3
Other Income 0.1 0.1
Total Kemper 234.9 233.3
Unitrin Specialty:
Earned Premiums 122.4 132.6
Net Investment Income 6.1 1.1
Other Income 0.2 -
Total Unitrin Specialty 128.7 133.7
Unitrin Direct:
Earned Premiums 76.0 82.6
Net Investment Income 5.3 0.8
Total Unitrin Direct 81.3 83.4
Career Agency:
Earned Premiums 128.9 135.1
Net Investment Income 52.0 39.9
Other Income - 0.1
Total Career Agency 180.9 175.1
Fireside Bank:
Interest, Loan Fees and Earned Discounts 30.2 51.8
Other Automobile Finance Revenues 0.4 1.1
Automobile Finance Revenues 30.6 52.9
Net Investment Income 0.5 0.9
Total Fireside Bank 31.1 53.8
Total Segment Revenues 656.9 679.3
Unallocated Dividend Income 0.1 0.3
Net Realized Gains on Sales of Investments 4.5 0.8
Net Impairment Losses Recognized in Earnings (3.2 ) (25.0 )
Other 3.1 0.4
Total Revenues $ 661.4 $ 655.8
Business segment operating profit (loss) for the three months ended March
31, 2010 and 2009 is as follows:
Three Months Ended
March 31, March 31,
(Dollars in Millions) 2010 2009
Segment Operating Profit (Loss):
Kemper $ 19.3 $ 13.0
Unitrin Specialty 7.5 -
Unitrin Direct (1.1 ) (8.5 )
Career Agency 41.9 21.9
Fireside Bank 4.8 (5.2 )
Total Segment Operating Profit 72.4 21.2
Unallocated Dividend Income 0.1 0.3
Net Realized Gains on Sales of Investments 4.5 0.8
Net Impairment Losses Recognized in Earnings (3.2 ) (25.0 )
Other Expense, Net (6.7 ) (7.1 )
Income (Loss) from Continuing Operations before Income
Taxes and Equity in Net Income of Investee $ 67.1 $ (9.8 )
Business segment net income (loss) for the three months ended March 31, 2010
and 2009 is as follows:
Three Months Ended
March 31, March 31,
(Dollars in Millions) 2010 2009
Segment Net Income (Loss):
Kemper $ 14.6 $ 10.4
Unitrin Specialty 5.8 1.0
Unitrin Direct 0.1 (4.9 )
Career Agency 27.3 14.1
Fireside Bank 3.0 (9.9 )
Total Segment Net Income 50.8 10.7
Net Income (Loss) From:
Unallocated Dividend Income 0.1 0.3
Net Realized Gains on Sales of Investments 2.9 0.5
Net Impairment Losses Recognized in Earnings (2.1 ) (16.2 )
Other Expense, Net (4.1 ) (4.0 )
Income (Loss) from Continuing Operations Before
Equity in Net Income of Investee 47.6 (8.7 )
Equity in Net Income of Investee 0.7 1.2
Income (Loss) from Continuing Operations $ 48.3 $ (7.5 )
The components of Net Realized Gains on Sales of Investments for the
three months
ended March 31, 2010 and 2009 are as follows:
Three Months Ended
March 31, March 31,
(Dollars in Millions) 2010 2009
Fixed Maturities:
Gains on Sales $ 2.5 $ 0.4
Equity Securities:
Gains on Sales 1.7 0.5
Other Investments:
Trading Securities Net Gains (Losses) 0.3 (0.1 )
Net Realized Gains on Sales of Investments $ 4.5 $ 0.8
The components of Net Impairment Losses Recognized in Earnings for the
three months
ended March 31, 2010 and 2009 are as follows:
Three Months Ended
March 31, March 31,
(Dollars in Millions) 2010 2009
Fixed Maturities $ (3.2 ) $ (21.6 )
Equity Securities - (3.4 )
Net Impairment Losses Recognized in Earnings $ (3.2 ) $ (25.0 )
Fireside Bank Exit Plan Key Metrics
Key metrics for the Fireside Bank exit plan are set forth in the table
below, which compares the status of the plan at the end of the first
quarter of 2010, with the end of 2009 and with the plan's approximate
inception date.
Mar. 31, Dec. 31, Mar. 31,
(Dollars in Millions) 2010 2009 2009
Net Automobile Loan Receivables Outstanding $ 630.8 $ 744.1 $ 1,125.2
Loans 30 or more days delinquent:
Dollars $ 33.8 $ 76.1 $ 103.4
As a percentage of Reserve for Loan Losses 45.2% 91.4% 91.0%
Reserve for Loan Losses:
Dollars $ 74.7 $ 83.3 $ 113.6
As a percentage of Net Automobile
Receivables Outstanding 11.8% 11.2% 10.1%
Cash and U.S. Treasury and Agency Investments $ 242.8 $ 214.0 $ 204.7
Certificates of Deposits:
Maturing in One Year or Less $ 244.0 $ 245.4 $ 425.3
Maturing in More than One Year 352.1 437.0 629.1
Total $ 596.1 $ 682.4 $ 1,054.4
Cash and U.S. Treasury and Agency Investments
as a percentage of Certificates of Deposits 40.7% 31.4% 19.4%
Total Capital $ 236.7 $ 233.4 $ 229.6
Tier 1 Capital $ 205.9 $ 201.2 $ 207.2
Tier 1 Capital to Total Average Assets 23.7% 21.3% 15.6%
Tier 1 Capital to Net Automobile Loan
Receivables Outstanding 32.6% 27.0% 18.4%
Unitrin, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Dollars in millions, except per share amounts)
March 31, Dec. 31,
2010 2009
Assets:
Investments:
Fixed Maturities at Fair Value (Amortized
Cost: 2010 - $4,358.3; 2009 - $4,413.2) $ 4,533.5 $ 4,561.4
Equity Securities at Fair Value
(Cost: 2010 - $184.3; 2009 - $184.4) 206.0 195.4
Investee (Intermec) at Cost Plus Cumulative Undistributed
Comprehensive Earnings (Fair Value: 2010 - $179.5; 2009 - 95.0 98.4
$162.8)
Short-term Investments at Cost which Approximates Fair 360.5 397.0
Value
Other Investments 779.6 771.6
Total Investments 5,974.6 6,023.8
Cash 149.9 143.7
Automobile Loan Receivables at Cost and Net of Reserve
for Loan Losses (Fair Value: 2010 - $560.3; 2009 - $666.2) 556.1 660.8
Other Receivables 626.6 642.0
Deferred Policy Acquisition Costs 515.2 521.1
Goodwill 317.0 331.8
Current and Deferred Income Taxes 84.8 107.6
Other Assets 146.0 142.7
Assets of Discontinued Operations 141.8 -
Total Assets $ 8,512.0 $ 8,573.5
Liabilities and Shareholders' Equity:
Insurance Reserves:
Life and Health $ 3,012.0 $ 3,028.0
Property and Casualty 1,170.7 1,211.3
Total Insurance Reserves 4,182.7 4,239.3
Certificates of Deposits at Cost
(Fair Value: 2010 - $626.6; 2009 - $717.9) 596.1 682.4
Unearned Premiums 692.2 724.9
Liabilities for Unrecognized Tax Benefits 11.1 11.7
Notes Payable at Amortized Cost (Fair Value: 2010 - 561.6 561.4
$560.4; 2009 - $534.2)
Accrued Expenses and Other Liabilities 425.6 436.2
Liabilities of Discontinued Operations 65.1 -
Total Liabilities 6,534.4 6,655.9
Shareholders' Equity:
Common Stock, $0.10 par value, 100 Million Shares
Authorized;
62,463,796 Shares Issued and Outstanding at March 31, 2010
and
62,357,016 Shares Issued and Outstanding at December 31, 6.3 6.2
2009
Paid-in Capital 766.9 765.9
Retained Earnings 1,121.2 1,086.7
Accumulated Other Comprehensive Income 83.2 58.8
Total Shareholders' Equity 1,977.6 1,917.6
Total Liabilities and Shareholders' Equity $ 8,512.0 $ 8,573.5
This press release may contain or incorporate by reference information
that includes or is based on forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements give
expectations or forecasts of future events. The reader can identify
these statements by the fact that they do not relate strictly to
historical or current facts. They use words such as "believe(s),"
"goal(s)," "target(s)," "estimate(s)," "anticipate(s)," "forecast(s),"
"project(s)," "plan(s)," "intend(s)," "expect(s)," "might," "may" and
other words and terms of similar meaning in connection with a discussion
of future operating financial performance or financial condition.
Forward-looking statements, in particular, include statements relating
to future actions, prospective services or products, future performance
or results of current and anticipated services or products, sales
efforts, expenses, the outcome of contingencies such as legal
proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong, and,
accordingly, readers are cautioned not to place undue reliance on such
statements, which speak only as of the date of this press release. These
statements are based on current expectations and the current economic
environment. They involve a number of risks and uncertainties that are
difficult to predict. These statements are not guarantees of future
performance; actual results could differ materially from those expressed
or implied in the forward-looking statements. Forward-looking statements
can be affected by inaccurate assumptions or by known or unknown risks
and uncertainties. Many such factors will be important in determining
the Company's actual future results and financial condition.
Among the general factors that could cause actual results and financial
condition to differ materially from estimated results and financial
condition are:
-- The incidence, frequency, and severity of catastrophes occurring in
any particular reporting period or geographic concentration, including
natural disasters, pandemics and terrorist attacks or other man-made
events;
-- The number and severity of insurance claims (including those
associated with catastrophe losses) and their impact on the adequacy of
loss reserves;
-- Changes in facts and circumstances affecting assumptions used in
determining loss and LAE reserves;
-- The impact of inflation on insurance claims, including, but not
limited to, the effects attributed to scarcity of resources available to
rebuild damaged structures, including labor and materials and the amount
of salvage value recovered for damaged property;
-- Changes in the pricing or availability of reinsurance, or in the
financial condition of reinsurers and amounts recoverable therefrom;
-- Orders, interpretations or other actions by regulators that impact the
reporting, adjustment and payment of claims;
-- The impact of residual market assessments and assessments for
insurance industry insolvencies;
-- Changes in industry trends and significant industry developments;
-- Uncertainties related to regulatory approval of insurance rates,
policy forms, license applications and similar matters;
-- Developments related to insurance policy claims and coverage issues
including, but not limited to, interpretations or decisions by courts or
regulators that may govern or influence insurance policy coverage issues
arising with respect to losses incurred in connection with hurricanes
and other catastrophes;
-- Changes in ratings by credit rating agencies including A.M. Best Co.,
Inc.;
-- Adverse outcomes in litigation or other legal or regulatory
proceedings involving Unitrin or its subsidiaries or affiliates;
-- Regulatory, accounting or tax changes that may affect the cost of, or
demand for, the Company's products or services;
-- Governmental actions, including, but not limited to, implementation of
the provisions of the Patient Protection and Affordable Care Act and the
Health Care and Education Reconciliation Act of 2010, financial services
regulatory reform, new laws or regulations or court decisions
interpreting existing laws and regulations or policy provisions;
-- Changes in distribution channels, methods or costs resulting from
changes in laws or regulations, lawsuits or market forces;
-- Changes in laws or regulations governing or affecting the regulatory
status of industrial banks, such as Fireside Bank, and their parent
companies, including minimum capital requirements and restrictions on
the non-financial activities and equity investments of companies that
acquire control of industrial banks;
-- Changes in the estimated rates of automobile loan receivables net
charge-off used to estimate Fireside Bank's reserve for loan losses,
including, but not limited to, changes in general economic conditions,
unemployment rates and the impact of changes in the value of collateral
held;
-- The degree of success in effecting an orderly wind-down of the
operations of Fireside Bank and the recovery of Unitrin's investment in
Fireside Bank;
-- The degree of success in identifying a buyer for Reserve National and
effecting a sale that results in a complete recovery of goodwill
associated with Reserve National;
-- Changes in general economic conditions, including performance of
financial markets, interest rates, unemployment rates and fluctuating
values of particular investments held by the Company;
-- The level of success and costs expended in realizing economies of
scale and implementing significant business consolidations and
technology initiatives;
-- Heightened competition, including, with respect to pricing, entry of
new competitors and the development of new products by new and existing
competitors;
-- Increased costs and risks related to data security;
-- Absolute and relative performance of the Company's products or
services; and
-- Other risks and uncertainties described from time to time in Unitrin's
filings with the U.S. Securities and Exchange Commission ("SEC").
No assurances can be given that the results contemplated in any
forward-looking statements will be achieved or will be achieved in any
particular timetable. The Company assumes no obligation to publicly
correct or update any forward-looking statements as a result of events
or developments subsequent to the date of this press release. The reader
is advised, however, to consult any further disclosures Unitrin makes on
related subjects in its filings made with the SEC.
Unitrin is a diversified insurance holding company, with subsidiaries
that principally provide life, auto, homeowners and other insurance
products for individuals and small businesses.
Unitrin's principal businesses are:
-- Kemper, which provides auto, homeowners and other insurance products to
individuals through a network of independent agents,
-- Unitrin Direct, which markets auto and homeowners insurance to consumers
via direct mail, the Internet and employer-sponsored employee benefit
programs and other affinity relationships,
-- Unitrin Specialty, which provides auto insurance through a network of
independent agents and brokers to individuals and small businesses which
have had difficulty procuring insurance through traditional channels,
usually due to adverse driving records or claim or credit histories, and
-- Career Agency, which specializes in the sale of life insurance products
to persons of modest incomes through a network of employee agents.
Additional information about Unitrin, including a copy of its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2010, is available
by visiting its website (www.unitrin.com).
Unitrin's 2010 annual meeting of shareholders will be held on May 5,
2010 at 10:00 (CDT) at the Chase Auditorium, Chase Tower, 10 S. Dearborn
Street in Chicago, IL. A link to the live webcast is posted on Unitrin's
website.
Unitrin plans to issue a news release discussing its second quarter
results and file its quarterly report on Form 10-Q after the market
closes on Monday, August 2, 2010.
Source: Unitrin, Inc.
Contact: Unitrin, Inc.
Frank J. Sodaro, (312) 661-4930
investor.relations@unitrin.com