June 23, 2009 (FinancialWire) — American Physicians Capital, Inc. (NASDAQ: ACAP) said that its board has declared a four-for-three stock split of the company’s common shares to shareholders of record as of the close of business on July 10. S

The move marks the company’s second stock split since going public in December 2000. The latest stock split will increase APCapital’s common shares outstanding from around 8.1 million to around 10.8 million.

APCapital also said that it has completed a $20 million buyback authorization approved on December 11, 2008 under the company’s 10b5-1 stock repurchase plan, and the company’s board approved another $20 million authorization under the 10b5-1 plan.

Since the inception of APC’s share repurchase program in 2001, the company has repurchased 10.1 million shares at an average price of $25.23 per share.

East Lansing, Michigan-based American Physicians Capital is a regional provider of medical professional liability insurance focused primarily in the Midwest and New Mexico markets.

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