About: GAINSCO

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GAINSCO (OTC Pink No Information: GANS) is a Dallas, Texas-based holding company established in 1978 in Fort Worth, Texas by Joseph Macchia, who resigned from the enterprise in 1998 to pursue other interests. In the late 1990s a Florida-based managing general agency and claims operation specializing in the non-standard personal automobile business established the cornerstone for GAINSCO's insurance marketing focus today. The Company completed a capital restructuring in 2005 which set the base for developing its business model. It consolidated its headquarters in Dallas,Texas in 2005.

Attributes	Values
rdf:type	Thing company schema:BankOrCreditUnion schema:Organization dul:Agent dul:SocialPerson agent wikidata:Q24229398 Organization Business enterprise yago:WikicatCompaniesBasedInDallas,Texas yago:WikicatCompaniesListedOnThePinkSheets yago:Abstraction100002137 yago:Company108058098 yago:FinancialInstitution108054721 yago:Group100031264 yago:Institution108053576 yago:InsuranceCompany108070465 yago:NondepositoryFinancialInstitution108419984 yago:Organization108008335 yago:WikicatInsuranceCompaniesOfTheUnitedStates yago:YagoLegalActor yago:YagoLegalActorGeo yago:YagoPermanentlyLocatedEntity bank organisation yago:SocialGroup107950920
rdfs:label	GAINSCO (en)
rdfs:comment	GAINSCO (OTC Pink No Information: GANS) is a Dallas, Texas-based holding company established in 1978 in Fort Worth, Texas by Joseph Macchia, who resigned from the enterprise in 1998 to pursue other interests. In the late 1990s a Florida-based managing general agency and claims operation specializing in the non-standard personal automobile business established the cornerstone for GAINSCO's insurance marketing focus today. The Company completed a capital restructuring in 2005 which set the base for developing its business model. It consolidated its headquarters in Dallas,Texas in 2005. (en)
foaf:name	GAINSCO, Inc. (en)
foaf:homepage	http://www.gainsco.com/
name	GAINSCO, Inc. (en)
dcterms:subject	1978 establishments in Texas American companies established in 1978 Companies based in Dallas Insurance companies of the United States Financial services companies established in 1978 Companies traded over-the-counter in the United States
Wikipage page ID	9915569 (xsd:integer)
Wikipage revision ID	1086377419 (xsd:integer)
Link from a Wikipage to another Wikipage	United States 1978 establishments in Texas American companies established in 1978 Companies based in Dallas Dallas, Texas Fort Worth, Texas Texas Insurance companies of the United States Financial services companies established in 1978 Companies traded over-the-counter in the United States Financial services State Farm Insurance
Link from a Wikipage to an external page	http://www.gainsco.com/ http://www.gainscoagency.com/ https://www.oneincsystems.com/ http://www.gainsco.com
sameAs	GAINSCO GAINSCO GAINSCO GAINSCO
dbp:wikiPageUsesTemplate	dbt:Advert dbt:Infobox_company dbt:Reflist dbt:Short_description dbt:Small dbt:Start_date_and_age dbt:Ubl dbt:OTC_Pink
foundation	United States Fort Worth, Texas Texas
genre	Financial (en)
homepage	http://www.gainsco.com/
industry	Financial services
key people	Glenn W Anderson (en)
location city	Dallas, Texas
location country	United States
num employees	600 (xsd:integer)
num employees year	2021 (xsd:integer)
has abstract	GAINSCO (OTC Pink No Information: GANS) is a Dallas, Texas-based holding company established in 1978 in Fort Worth, Texas by Joseph Macchia, who resigned from the enterprise in 1998 to pursue other interests. GAINSCO's insurance operation was originally chartered as an underwriter of Commercial risks; operations that were discontinued and placed in a run-off in 2002. The Company marketed its commercial insurance through managing general agents, using “GAINSCO” and the block super-scribed letters “GA” as its primary logo identifiers. These letters were derived from the abbreviated version of the name of the company's primary insurance subsidiary at that time, General Agents Insurance Company of America, Inc. This commercial insurance company was sold in 2007. In the late 1990s a Florida-based managing general agency and claims operation specializing in the non-standard personal automobile business established the cornerstone for GAINSCO's insurance marketing focus today. The Company completed a capital restructuring in 2005 which set the base for developing its business model. It consolidated its headquarters in Dallas,Texas in 2005. Through its insurance brand, GAINSCO Auto Insurance®, the company specializes in minimum-limits personal auto coverage and actively distributes its nonstandard personal auto products through independent retail agents across the United States. Its insurance company subsidiary (domiciled in Texas) is MGA Insurance Company, Inc. Beginning in 2005, a newly created GAINSCO logo mark incorporated a rising arrow in its name to inspire a progressively upward company. Registered marks include GAINSCO Auto Insurance® and Are You Driven®. GAINSCO’s insurance company subsidiary, MGA Insurance Company, Inc. (MGA), reported Net Premiums Written for 2020 of $320 million and had Policyholders’ Surplus of $139.4 million on December 31, 2020. MGA’s Policyholders’ Surplus grew approximately 12% in 2020 over 2019, aided by its almost $29 million in Net Income for the 2020 annual period. In addition to the strong earnings result for 2020, MGA has reported double-digit Net Income results for the past five years and positive income results for the past 13 straight years. MGA’s 5-year Compounded Annual Growth Rate of Net Income, through 2020, is over 32%. Source: NAIC Statutory Annual Statements. The Company in early 2011 approved the voluntary suspension of its duty to file reports with the SEC and the voluntary deregistration of its common stock. The company was eligible to suspend its reporting obligations and deregister its common stock because there were fewer than 300 holders of record of the company's common stock. This decision resulted in expense savings and reduced reporting burdens. The GAINSCO leadership team is deep in industry talent and expertise. Glenn Anderson, CEO, and President has enjoyed significant success over his thirty-year career in the insurance industry. A former Executive Vice President and Divisional President with USF&G, Mr. Anderson joined GAINSCO in 1998. The company's Board of Directors and named Executive Officers own a significant majority of the outstanding common stock. GAINSCO's insurance operations consist of about 600 employees with about 350 employees in its Dallas home office. A separate Miami office has approximately 100 employees. The balance of the employee population is field-based across the multiple states of operation. In 2019, GAINSCO chose One Inc., for modernization of the outbound payment capacities of the company. The A.M. Best rating of the insurance subsidiary has increased multiple times moving from a “Vulnerable” financial strength rating of “B-” to the current “Excellent” financial strength rating of “A-”. On December 31 2020, State Farm Insurance announced its acquisition of GAINSCO as an owned subsidiary for $400 million. (en)
gold:hypernym	Company
prov:wasDerivedFrom	wikipedia-en:GAINSCO?oldid=1086377419&ns=0
page length (characters) of wiki page	7074 (xsd:nonNegativeInteger)
founding year	1978-01-01 (xsd:gYear)
number of employees	600 (xsd:nonNegativeInteger)
industry	Financial services
foaf:isPrimaryTopicOf	wikipedia-en:GAINSCO
is Link from a Wikipage to another Wikipage of	List of United States insurance companies List of companies in Dallas List of companies in the Dallas–Fort Worth metroplex Gainsco GAINSCO/Bob Stallings Racing 2010 Rolex Sports Car Series 2013 Rolex Sports Car Series 2007 24 Hours of Daytona 2007 Mexico City 400k 2008 Rolex Sports Car Series Grand Prix of Miami (open wheel racing) Joseph D. Macchia List of Texas companies

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