| | Business Summary | | Penn-America
Group,
Inc.
is
a
specialty
property
and
casualty
insurance
holding
company
which,
through
its
subsidiary,
Penn-America
Insurance
Company
and
its
subsidiary
Penn-Star
Insurance
Company
(collectively
Penn-America),
markets
and
underwrites
commercial
property,
general
liability
and
multi-peril
insurance
for
small
businesses
located
primarily
in
small
towns
and
suburban
and
rural
areas.
The
Company
provides
commercial
property
and
casualty
insurance
both
on
an
excess
and
surplus
lines
basis
and
on
an
admitted
basis.
During
1999,
the
Company
announced
that
it
would
exit
the
non-standard
personal
automobile
business
entirely,
a
business
it
entered
in
1988.
In
late
2000,
the
Company
announced
that
it
also
was
exiting
the
commercial
automobile
business. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | PNG,
through
its
subsidiaries,
Penn-America
Insurance
Company
and
Penn-Star
Insurance
Company,
is
a
specialty
property
and
casualty
insurance
holding
company.
For
the
six
months
ended
6/01,
total
revenues
rose
4%
to
$50.7
million.
Net
income
totalled
$2
million,
up
from
$921
thousand.
Revenues
reflect
increased
commercial
lines
net
earned
premium.
Earnings
reflect
a
decrease
in
the
loss
ratio
and
a
lower
expense
ratio
due
to
commission
reductions. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Irvin Saltzman, 78
Chairman | -- | Jon Saltzman, 43
Pres
and CEO | $340K | Joseph Morris, 46
CFO,
Sr. VP | -- | Garland Pezzuolo, 36
Sec.
and Gen. Counsel | -- | | Dollar amounts are as of 31-Dec-2000 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/p/png.gif)