| Business Summary | | Cumberland
Technologies,
Inc.
is
a
holding
company
engaged,
through
its
subsidiaries,
Cumberland
Casualty
&
Surety
Company,
Surety
Specialists,
Inc.,
The
Surety
Group,
Inc.,
Associates
Acquisition
Corp.
(d/b/a
Surety
Associates)
and
Qualex
Consulting
Group,
Inc.,
in
the
delivery
of
specialty
surety
and
insurance
services.
Surety
services
include
underwriting
surety
bonds
on
a
direct
and
assumed
basis,
surety
consulting
and
the
development
of
surety
software.
Insurance
services
include
the
underwriting
of
specialty
and
other
liability
insurance
products.
In
addition,
the
Company
conducts
its
business
through
a
number
of
independent
agencies
that
focus
on
selling
and
delivering
surety
insurance
products
to
consumers.
The
Company
developed
a
software
product
called
Bond-Pro
that
increases
the
speed
with
which
surety
agents
deliver
their
products
to
the
customer
and
financially
report
those
transactions
to
the
carrier,
while
reducing
operating
costs. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CUMB
through
its
subsidiaries
provides
underwriting
for
specialty
surety
and
performance
and
payment
bonds
for
contractors.
The
Company
also
provides
claim
and
contracting
consulting
services.
For
the
six
months
ended
6/30/01,
revenues
increased
10%
to
$7.6
million.
Net
income
decreased
69%
to
$249
thousand.
Results
reflect
an
increase
in
earned
premiums
resulting
from
a
continued
growth
in
the
surety
bond
market,
offset
by
increased
salary
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Francis Williams, 58 Chairman
of the Company and CCS | -- | Joseph Williams, 43 Pres
of the Company, Treasurer and Sec. of the Company and CCS | $155K | Edward Edenfield, IV, 42 Pres
of CCS | 150K | 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
|
|