| | Business Summary | | Acceptance
Insurance
Companies
Inc.
underwrites
and
sells
crop
insurance
and
specialty
property
and
casualty
insurance
to
serve
niche
markets
or
programs.
The
principal
lines
of
the
Company's
crop
insurance
segment
are
MPCI,
supplemental
coverages
and
named
peril
insurance.
MPCI
is
a
federally
subsidized
insurance
program
designed
to
encourage
farmers
to
manage
their
risk
through
the
purchase
of
insurance
policies.
During
2000,
the
principle
lines
of
the
Company's
property
and
casualty
segment
were
property
and
casualty
coverages,
primarily
on
an
admitted
basis,
for
the
staffing
industry,
fine
art
and
personal
jewelry
exposures,
condominiums,
surety,
prize
indemnifications
and
non-crop
agricultural
risks.
In
March
2001,
the
Company
sold
the
majority
of
its
property
and
casualty
business
to
Insurance
Corporation
of
Hannover
(ICH),
a
member
of
the
Hannover
Re
group,
a
major
worldwide
reinsurer. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Acceptance
Insurance
Companies
Inc.
underwrites
and
sells
crop
insurance
and
specialty
property
and
casualty
insurance
that
serve
niche
markets
or
programs.
For
the
six
months
ended
6/30/01,
revenues
decreased
64%
to
$38.2
million.
Net
loss
increased
95%
to
$4.7
million.
Revenues
reflect
a
decrease
in
insurance
premiums
earned
due
to
the
sale
of
several
lines
of
business
and
lower
income
from
investments
and
capital
gains.
Higher
loss
reflects
reduced
operating
margins. | | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Michael McCarthy, 48
Chairman | -- | John Martin, 53
Pres,
CEO | $62K | Dwayne Hallman
CFO | -- | Kim Gibson, 42
Pres,
American Agrisurance | 261K | J. Michael Gottschalk, 55
CAO,
Gen. Counsel, Sec. | 212K | | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/a/aif.gif)