CARMEL, Ind. (AP) _ Protective Insurance Corporation-B (PTVCB) on Thursday reported first-quarter net income of $12.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Carmel, Indiana-based company said it had net income of 90 cents.

The property and casualty insurance underwriter posted revenue of $140.5 million in the period.

Protective Insurance shares have risen 68% since the beginning of the year. The stock has increased 63% in the last 12 months.

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