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.
Hurricane Isaias Reaches Cat 3 Status as Insurers, Adjusters, Property Owners Prepare 
Harbor Emerges From Stealth with $10M Funding to Handle AI-Agent Risk 
A Timeline of Developments in AI Safety Since the Attack on Hugging Face 
India Insurance Regulator Eyes 2027 Start for Commission Caps From This Issue
