State National jumps 4.8% on fronting growth outlook

State National (SNC) shares climbed in New York trading today
after the fronting and programme specialist's earnings topped
Wall Street's expectations and management raised its earnings
outlook.
State National jumped as much as 8 percent early today before
cooling enthusiasm trimmed the gain to about 4.8 percent as the
shares closed at $13.99. Most other insurer and related stocks
fell.
The company, which fronts for ILS manager Nephila Capital,
posted fourth-quarter net income of $14.1mn, or 33