| Business Summary | | Gainsco,
Inc.
is
a
property
and
casualty
insurance
holding
company
concentrating
its
efforts
on
three
major
nonstandard
markets:
commercial
lines,
personal
lines
and
specialty
lines.
The
commercial
lines
division
includes
commercial
auto,
garage,
general
liability
and
commercial
property
products.
The
personal
lines
division
includes
personal
auto,
umbrella
and
personal
property
products.
The
specialty
lines
division
is
focused
on
developing
growth
in
professional
liability
products.
The
Company's
insurance
operations
are
conducted
through
four
insurance
companies:
General
Agents
Insurance
Company
of
America,
Inc.,
MGA
Insurance
Company,
Inc.,
GAINSCO
County
Mutual
Insurance
Company,
and
Midwest
Casualty
Insurance
Company. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Gainsco,
Inc.
is
a
property
and
casualty
insurance
holding
company
that
underwrites
specialty
commercial
automobile,
auto
garage,
general
liability
and
property
coverages.
For
the
three
months
ended
3/31/01,
revenues
decreased
48%
to
$20.3
million.
Net
loss
applicable
to
Common
totaled
$1.3
million,
up
from
$329
thousand.
Results
reflect
a
decrease
in
premiums
earned
from
the
commercial
lines
and
lower
net
investment
income. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
19,346;
after
tax
earnings
were
-7,390. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Joel Puckett, 57 Chairman | -- | -- | Glenn Anderson, 48 Pres,
CEO | $352K | -- | McRae Johnston, 50 Pres,
National Specialty Lines, Inc. | 293K | -- | Daniel Coots, 49 Sr.
VP, CFO | 234K | $108K | Richard Buxton, 52 Sr.
VP | 172K | -- | 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|