United America Indemnity, Ltd. · George Town, Grand Cayman Cayman Islands ·(NASDAQ (GM): INDM)
Company Description
Phone: +1-345-949-0100
Fax: 610-660-8882
View United America Indemnity, Ltd. Locations On A US Map
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This link will open in a new window Doing business through its United National Group and Penn-America Group subsidiaries, United America Indemnity provides specialty and surplus property/casualty insurance, including insurance for social service agencies and vacant properties. The group, one of the larger excess and surplus lines insurers in the US, operates through agents and program managers throughout the nation. United America Indemnity also has operations in Bermuda through its Wind River Reinsurance unit, which offers treaty (group risk) and facultative (individual risk) reinsurance. Investment firm Fox Paine owns a controlling interest in the company. To read the full description, subscribe now.
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Key United America Indemnity, Ltd. Financials
| Company Type | Public - NASDAQ (GM): INDM Single Location |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $400.1 |
| 2008 Employees | 360 |
United America Indemnity, Ltd. Executives
17 executives listed for United America Indemnity, Ltd.'s George Town, Grand Cayman location.
| Title | Name & Bio | Contact |
| Chairman | Saul Fox | Network |
| President, CEO, and Director | Larry Frakes | Network |
| VP, Corporate Controller, and Interim CFO | Thomas McGeehan | Network |
Competition
Competitive Landscape for United America Indemnity, Ltd.
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 United America Indemnity, Ltd. Competitors
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