Richard Amoroso, president and CEO of Phoenix-based Republic Western Insurance Company (RepWest), announced that the Company achieved profitability for the second straight quarter in calendar year 2002. In addition to reporting a profit for the quarter that ended June 30, 2002, the Company is pleased to announce that it will report profitable results for the quarter that ended Sept. 30, 2002.
“Our strategy for returning Republic Western to profitability is working,” declared Amoroso. “Our results for June and September quarters show that we are ahead of plan and achieving our goals of eliminating under-performing business lines while maximizing the profit potential on lines that we continue to write.” Republic Western is in the process of completing a turn-around of its financial results.
Phoenix-based Republic Western Insurance Company is a wholly-owned subsidiary of Nevada-based AMERCO. RepWest is a property and casualty insurance company that offers specialty insurance for personal, commercial and reinsurance markets.
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