| Business Summary | | Accel
International
Corporation
is
an
insurance
holding
company.
The
Company,
through
its
subsidiary,
Acceleration
National
Insurance
Company,
is
engaged
in
the
underwriting
and
sale
of
property/casualty
insurance
products.
Management
is
restructuring
the
Company
so
that
it
can
re-enter
other
areas
of
insurance
market,
especially
the
non-standard
automobile
line,
in
which
the
Company's
new
subsidiary,
as
of
January
14,
2000,
Allegiance
Insurance
Managers
Ltd.
(AIM),
has
a
recognized
expertise.
AIM
operates
as
an
underwriting
manager,
managing
general
agency,
and
claims
administrator
for
various
programs,
companies
and
clients.
In
addition
to
property
and
casualty
insurance
products,
the
Company
historically
sold,
principally
through
automobile
dealers,
credit
life
and
credit
accident
and
health
insurance
and
extended
service
contracts. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Accel
International
Corp.,
an
insurance
holding
company,
sells
and
underwrites
property/casualty
insurance
products
to
commercial
lines
of
businesses.
For
the
nine
months
ended
9/30/00,
revenues
totaled
$8.7
million,
up
from
$554
thousand.
Net
loss
from
continuing
operations
fell
34%
to
$2.6
million.
Revenues
reflect
the
inclusion
of
Accel's
results
and
the
acquistions
of
AAG
and
AIM,
partially
offset
by
increased
general
and
administrative
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Raymond Deck, 77 Chairman | -- | Gerald Pastor, 48 Pres,
CEO, Director | $58K | Thomas Renwick, 51 Sr.
VP, Director | -- | Richard Lawrence, 50 VP,
CFO, Treasurer | -- | Kathleen Wilson, 48 VP,
Sec. | -- | 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
|
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