Nonstandard property and casualty insurance holding company, GAINSCO, INC., reported a $1.2 million net loss for the first quarter 2001, compared to a first quarter 2000 net loss of $0.1 million. Fort Worth-based GAINSCO said that a number of 2001 transitional issues being addressed by the company had affected the loss. Along with a net loss, GAINSCO reported lower levels of gross premiums for the first quarter of 2001, compared with the first quarter 2000. A recent reduction in GAINSCO’s rating by A.M. Best has spurred the company to develop plans for narrowing its business focus.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents 
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
Axios Software Tool Used by Millions Compromised in Hack 
Tennessee Approves Smallest Drop in Workers’ Compensation Costs in Years From This Issue
