Woodland Hills, Calif.-based Unico American Corp. announced its revenue for the three months ended March 31, 2011, was $8.6 million and net income was $1.1 million, compared with revenue of $9.9 million and net income of $0.5 million for the three months ended March 31, 2010.
As of March 31, 2011, the company had cash and investments (at amortized cost) of $128.3 million. $122.4 million, or 95 percent of these investments were fixed maturity investments, and 78 percent of those fixed maturity investments were U.S. treasury securities.
Stockholders’ equity was $74.1 million as of March 31, 2011, or $13.89 per common share including unrealized after-tax investment gains of $1.9 million, compared to stockholders’ equity of $73.4 million as of December 31, 2010, or $13.75 per common share including unrealized after-tax investment gains of $2.3 million.
Unico is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty, and health insurance through its agency subsidiaries; and through its other subsidiaries provides insurance premium financing and membership association services. Unico has conducted the majority of its operations through its subsidiary Crusader Insurance Co. since 1985.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
More Americans Are Moving Away From Flood Risk Than Toward It 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
