GAINSCO (OTC Pink: 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 were derived from the abbreviated version of the name of the Company’s its primary insurance subsidiary at that time, General Agents Insurance Company of America, Inc. This commercial insurance company was sold in 2007.

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  • GAINSCO (OTC Pink: 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 were derived from the abbreviated version of the name of the Company’s its primary insurance subsidiary at that time, General Agents Insurance Company of America, Inc. This commercial insurance company was sold in 2007. An acquisition in the late 1990s of 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. The Company, through its insurance brand, GAINSCO Auto Insurance®, specializes in minimum-limits personal auto coverage and actively distributes its nonstandard personal auto products through independent retail agents in Southwest and Sunbelt states. Its insurance company subsidiary (domiciled in Texas) is MGA Insurance Company, Inc., and sponsors the No. 99 Red Dragon™ McLaren 650s GT3 GAINSCO/Bob Stallings™ racecar. In addition, the Company owns and operates a franchised Hyundai automobile dealership in Dallas, Texas. Beginning in 2005, a newly created GAINSCO logo mark incorporated a rising arrow in its name to inspire a progressively upward company. It was at this time that GAINSCO’s logo mark was first placed on a racecar owned by our Chairman of the Board, Robert Stallings. Registered marks include GAINSCO Auto Insurance® and Are You Driven®. The Company’s insurance business has grown from a gross premiums written level of $112 million in 2005 to $227 million in 2015. Total shareholders’ equity (on a GAAP basis) increased from $57 million to $96 million over the same period. In addition, during this time period the A.M. Best rating of the insurance subsidiary has increased three times moving from a “Vulnerable” financial strength rating of “B-” to the current “Secure” financial strength rating of “B++” with a stable outlook. The entry into the automobile dealership business in late 2013 provided another avenue for expansion opportunities. 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. Robert Stallings, GAINSCO’s Chairman, has a successful track record of building and managing financial services companies and is actively involved in the strategic leadership and organizational management. 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 400 employees with about 250 employees in its Dallas home office. A separate Miami office has approximately 80 employees; the balance of the employee population is field based across the multiple states of operation. The automobile dealership operation, located in South Dallas, has approximately 45 employees. (en)
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  • 1978-01-01 (xsd:date)
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  • 400 (xsd:integer)
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  • Financial
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  • Glenn W Anderson
  • Jim R. Reis
  • Robert W. Stallings
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  • 2016 (xsd:integer)
dbp:slogan
  • Are You Driven
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http://purl.org/linguistics/gold/hypernym
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  • GAINSCO (OTC Pink: 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 were derived from the abbreviated version of the name of the Company’s its primary insurance subsidiary at that time, General Agents Insurance Company of America, Inc. This commercial insurance company was sold in 2007. (en)
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  • GAINSCO (en)
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  • GAINSCO, Inc. (en)
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