GMAC Insurance Holdings, Inc. · Maryland Heights, MO United States
Company Description
Phone: 314-493-8000
Fax: 314-493-8114
View GMAC Insurance Holdings, Inc. Locations On A US Map
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This link will open in a new window GMAC Insurance Holdings is there for the careful as well as the accident prone. A subsidiary of General Motors Acceptance Corporation
(GMAC), the financial services unit ofGeneral Motors , GMAC Insurance is an underwriter of preferred and nonstandard automobile insurance. The company focuses on its consumer insurance products for cars, recreational vehicles, and motorcycles, but also offers homeowners insurance. Its commercial products cover a range of industries, starting with car dealerships. The company also sells automobile extended service contracts through GM car dealers. GMAC Insurance operates primarily in the US, but has operations in Canada, Mexico, the UK, and other countries. To read the full description, subscribe now.
(GMAC), the financial services unit of
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Key GMAC Insurance Holdings, Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 3,700 |
GMAC Insurance Holdings, Inc. Executives
7 executives listed for GMAC Insurance Holdings, Inc.'s Maryland Heights, MO location.
| Title | Name & Bio | Contact |
| President. GMAC Financial Services | William Muir | Network |
| Chief Human Resources Officer | John Beattie | Network |
| EVP GMAC Insurance, Dealer Products and Services | Thomas Callahan | Network |
Competition
Competitive Landscape for GMAC Insurance Holdings, Inc.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top GMAC Insurance Holdings, Inc. Competitors
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