Latest GAINSCO Headlines
All the headlines from our GAINSCO Topic Page, ordered by recency.
Declarations
Oct 5 2020 // Utah Fires “I guess the only positive thing is next year there won’t be anything left to burn.” — Rep. Brad Last, R-Hurricane, commenting on Utah’s wildfire season, which has broken records...
Business Moves
Oct 5 2020 // National OneBeacon, International Bond & Marine Brokerage OneBeacon Insurance Group said it has acquired International Bond & Marine Brokerage Ltd. (IB&M), a privately held brokerage and risk management firm...
In a First, State Farm to Acquire Texas Nonstandard Auto Insurer GAINSCO
Sep 17 2020 // State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm’s 98-year history that it has...
Nonstandard Auto Insurance Market Is Not For Everybody
Apr 13 2015 // The nonstandard auto market is not for every carrier or agency. Since 2007, carriers writing nonstandard auto policies have reported deteriorating operating performance and many have struggled to maintain market share. But...
What’s Driving Nonstandard Auto – Technology, Consolidation, Population Changes, Fuel Specialty, Opportunity
Mar 9 2015 // The nonstandard auto market is characterized by substandard operating performance. Since 2007, carriers writing nonstandard auto policies have reported deteriorating operating performance and many are struggling to...
Expanding Beyond Insurance, GAINSCO Buys Automobile Dealership
Dec 11 2013 // Dallas-based GAINSCO Inc. announced that it has expanded its business offerings beyond that of strictly a non-standard personal automobile insurance writer and servicer, and entered the business of owning and operating a...
Texas-Based Insurer GAINSCO to De-list Its Common Stock
Jan 10 2011 // GAINSCO Inc. (NYSE Amex: GAN), an insurance holding company headquartered in Dallas, has announced it will voluntarily suspend trading of its common stock. The company reports there are fewer than 300 holders of its common...
Nebraksa Rules Insurance Exclusion Applies to Liquidator
Apr 6 2009 // A regulatory exclusion in a directors and officers liability insurance policy applies to an insurance regulator acting as liquidator, according to the Nebraska Supreme Court. The ruling is believed to be the first by any...
GAINSCO Reports Net Loss for 2008
Mar 27 2009 // Dallas-based insurer, Gainsco Inc., announced net losses for the fourth quarter and the year for 2008, but the losses are less than those the company reported in 2007. The company said its net loss for the fourth quarter...
Insurance Exclusion Applies to Liquidator, Nebraska Court Rules
Mar 24 2009 // A regulatory exclusion in a directors and officers liability insurance policy applies to an insurance regulator acting as liquidator, according to the Nebraska Supreme Court. The ruling is believed to be the first by any...
GAINSCO Rolls Out Monthly Auto Policy in Texas
Nov 15 2007 // GAINSCO Auto Insurance, which specializes in minimum-limits personal auto policies, announced it has introduced a new monthly auto policy for Texas customers. The new product, which provides a single month of personal auto...
GAINSCO Closes Sale of Subsidiary to Montpelier Re
Nov 2 2007 // Dallas-based GAINSCO Inc. and subsidiary MGA Insurance Company Inc. completed a previously announced sale of an affiliated insurance subsidiary, General Agents Insurance Company of America Inc., the company...
New GAINSCO Marketing Unit to Focus on Motorsports Insurance
Oct 24 2007 // Dallas-based GAINSCO Inc. has formed GAINSCO Motorsports Insurance (GMI) to market third-party insurance products to customers in the motorsports industry, the company announced. The new unit will operate from Atlanta,...
GAINSCO Sells E&S Writer General Agents Insurance Co. to Montpelier Re
Aug 14 2007 // Dallas-based GAINSCO, Inc. and its insurance subsidiary MGA Insurance Co. Inc. have agreed to sell their affiliate General Agents Insurance Co. of America, Inc. to Montpelier Re U.S. Holdings Ltd. for $4.75 million. The...
GAINSCO Reports 2005 Q4 and Year End Results
Mar 30 2006 // Dallas-based GAINSCO Inc. reported net income for the fourth quarter 2005 of $5.5 million. Net income available to common shareholders for the same period, after the accretion of the discount and the dividend on redeemable...
GAINSCO Reports $25M Capital Securities Issue
Jan 16 2006 // GAINSCO Inc. (announced that its newly formed and wholly owned subsidiary, GAINSCO Capital Trust I, issued $25 million of 30-year capital securities. GAINSCO is a Dallas, Texas-based holding company. Its nonstandard...
GAINSCO Shareholders Approve Directors, Reverse Stock Split
Nov 10 2005 // Dallas-based GAINSCO Inc. announced that shareholders at its annual meeting approved all the matters put before them, including the following: * Elected eight directors each to serve until the next annual meeting of...
GAINSCO Subsidiaries Upgraded
Oct 13 2005 // GAINSCO Inc., headquartered in Dallas, announced that A.M. Best Company has upgraded the financial strength rating of General Agents Insurance Company of America Inc. and MGA Insurance Company Inc., both members of the...
GAINSCO Completes Rights Offering
Aug 24 2005 // Dallas-based GAINSCO Inc. reported that it has raised approximately $14.8 million in gross proceeds from the completion of its previously announced common stock rights offering. The offering expired on Aug. 19, 2005. The...
GAINSCO Rights Offering Declared Effective by SEC
Jun 16 2005 // Dallas-based Gainsco Inc. announced that the registration statement for its previously announced common stock rights offering was declared effective on June 15, 2005, by the Securities and Exchange Commission. Under the...
