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Ticker: April 2

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Lower catastrophe claims and improved investment returns helped Nationwide Mutual Insurance Co. post a $716 million profit in 2009, a dramatic swing from a $342 million loss in 2008, the privately held company reported late Thursday. Revenues for the insurer totaled $20.8 billion last year, up nearly 5 percent from $19.8 billion in 2008. Net operating income for its property and casualty business, which includes traditional insurance offerings, amounted to $534 million in 2009, compared with a loss of $311 million in 2008. The increased profitability reflected lower catastrophe claims in 2009 and a relatively low level of claims expenses carrying over from the previous year, the company said.

West Bancorporation Inc., parent company of West Bank, will report its results for the first quarter of 2010 on April 29 after U.S. markets close. The West Des Moines-based company will discuss its results in a conference call scheduled for 2 p.m. Central Time on April 30. The telephone number for the conference call is (800) 860-2442. A recording of the call will be available until May 31 by dialing (877) 344-7529. The replay passcode is 436691.

The U.S. Army Corps of Engineers announced it has awarded a contract for improvements and reconstruction of the Birdland Park levee in Des Moines. Minneapolis-based Ceres Environmental Services Inc. was the winning bidder for the nearly $7.3 million project, which calls for rebuilding approximately 1.7 miles of the levee and floodwall system from McHenry and Riverview parks downstream to Birdland Park. Approximately $5.3 million of the funding came from federal stimulus money.

The Des Moines Downtown Chamber of Commerce honored several downtown business leaders during its inaugural 2010 Des Moines Downtown Chamber Celebration. Marc Hollander, marketing director with the Davis Brown law firm, was named 2009 Ambassador of the Year for the commitment he has made to the downtown community in the past year. Scott Carlson, owner of Court Avenue Restaurant and Brewing Co., was named 2009 Citizen of the Year for his continued commitment to the growth and vibrancy of downtown. Business Publications LLC, publisher of the Business Daily and the Des Moines Business Record, received the Business of the Year Award for its role in promoting the Downtown Chamber’s Extreme Race and for its commitment to informing its readers about downtown events, developments, business deals and trends.

The Greater Des Moines Partnership has announced its Get Your Art On Photo Contest in conjunction with the 2010 Des Moines Arts Festival. This year, the contest will have three categories: professional, student and amateur, for photographs showing individual expressions of art and community in the metro area. Photos may be submitted through May 14; beginning May 17, photos will be posted online in a virtual gallery for public voting. Winning photographs will be displayed at the Des Moines Arts Festival June 25-27. For more information, visit www.desmoinesmetro.com.

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