| Business Summary | | Allcity
Insurance
Company
is
a
property
and
casualty
insurer.
Empire
Insurance
Company,
a
property
and
casualty
insurer,
owns
approximately
84.6%
of
the
outstanding
common
shares
of
the
Company.
The
Company
is
organized
into
three
divisions:
the
Small
Business
Division,
the
Personal
Lines
Division
and
the
Mid-Market
Division.
Each
of
these
divisions
has
separate
management
teams
responsible
for
all
underwriting
decisions
with
the
Small
Business
Division
focusing
on
commercial
package
products
for
small
businesses;
the
Personal
Lines
Division
focusing
on
personal
automobile
and
homeowners
insurance;
and
the
Mid-Market
Division
focusing
on
commercial
automobile,
commercial
package
and
workers'
compensation
insurance
for
larger
accounts.
Substantially
all
of
the
Company's
policies
are
written
in
New
York
for
a
one-year
period.
The
Company
is
licensed
in
New
York
to
write
most
lines
of
insurance
that
may
be
written
by
a
property
and
casualty
insurer. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | ALCI
provides
private
passenger
and
commercial
automobile
insurance,
commercial
multi-peril,
workers'
compensation
and
other
liability
insurance,
and
miscellaneous
fire,
allied
and
homeowners
insurance
coverages,
primarily
in
NY.
For
the
six
months
ended
6/30/01,
revenues
fell
18%
to
$18
million.
Net
loss
totaled
$15.1
million,
up
from
$277
thousand.
Results
reflect
a
decline
in
earned
premiums
in
all
business
lines
and
higher
losses
and
loss
adjustment
expenses. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Joseph Steinberg, 56 | Chairman | H. Scruggs, 43 | Pres,
CEO, Director | Francis Colalucci, 55 | CFO,
Exec. VP, Treasurer, Director | Rocco Nittoli, 42 | COO,
Director | Robert Boyle, 47 | Sr.
VP, Mid-Market Division |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|