Unico American Corporation (UNAM) |
|
Price: $0.0100
$0.01
203.030%
|
Day's High:
| $0.01
| Week Perf:
| 212.5 %
|
Day's Low: |
$ 0.01 |
30 Day Perf: |
-43.5 % |
Volume (M): |
0 |
52 Wk High: |
$ 1.37 |
Volume (M$): |
$ 0 |
52 Wk Avg: |
$0.75 |
Open: |
$0.01 |
52 Wk Low: |
$0.00 |
|
|
Market Capitalization (Millions $) |
0 |
Shares
Outstanding (Millions) |
5 |
Employees |
86 |
Revenues (TTM) (Millions $) |
- |
Net Income (TTM) (Millions $) |
-13 |
Cash Flow (TTM) (Millions $) |
-2 |
Capital Exp. (TTM) (Millions $) |
0 |
Unico American Corporation
Unico American Corporation 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
provides insurance premium financing and membership association services through
its other subsidiaries. Unico American Corporation is referred to herein as
the "Company" or "Unico" and such references include both
the corporation and its subsidiaries, all of which are wholly owned unless otherwise
indicated. Unico was incorporated under the laws of Nevada in 1969.
The insurance company operation is conducted through Crusader. Crusader is
a multiple line property and casualty insurance company that began transacting
business on January 1, 1985. Since 2004, all Crusader business has been written
in the state of California until June 2014 when Crusader also began writing
business in the state of Arizona. Commercial multiple peril policies provide
a combination of property and liability coverages for businesses. Commercial
property coverage insures against loss or damage to buildings, inventory and
equipment from natural disasters, including hurricanes, windstorms, hail, water,
explosions, severe winter weather, and other events such as theft and vandalism,
fires, storms, and financial loss due to business interruption resulting from
covered property damage. However, Crusader does not write earthquake coverage.
Commercial liability coverage insures against third party liability from accidents
occurring on the insured’s premises or arising out of its operation. In
addition to commercial multiple peril policies, Crusader also writes separate
policies to insure commercial property and commercial liability risks on a mono-line
basis. Crusader is domiciled in California; and, Crusader is licensed as an
admitted insurance carrier in the states of Arizona, California, Nevada, Oregon,
and Washington.
Crusader sells its insurance policies through Unifax Insurance Systems, Inc.
(Unifax), Crusader’s sister corporation and exclusive general agent. All
policies are produced by a network of independent brokers and agents.
Crusader implemented product changes such as revised rates, eligibility guidelines,
rules and coverage forms. On October 9, 2015, the Company concluded that a charge
for impairment of the Company’s capitalized computer software costs, related
to a policy administration system contract entered into on November 1, 2012,
was required under U.S. generally accepted accounting principles (GAAP). The
decision to impair the asset was based on the Company’s beliefs that the
software had not achieved and would not be able to achieve the Company’s
expected implementation targets and that the Company was unable to renegotiate
the terms of its agreement with the software vendor. The Company believes that
it will need to make future cash expenditures to replace or upgrade its policy
administration system but it is unable to estimate the amount at this time.
While the Company’s policy administration system continues to support
the Company’s existing operations, the Company believes it would realize
more competitive parity with respect to product and service by switching or
upgrading to a more contemporary platform. The Company is currently evaluating
its alternatives. Crusader does not intend to substantially increase its number
of appointed retail agents until the Company replaces or upgrades its policy
administration system.
The property casualty insurance marketplace continues to be intensely competitive.
While Crusader attempts to meet such competition with competitive prices, its
emphasis is on service, promotion, and distribution. Crusader believes that
rate adequacy is more important than premium growth and that underwriting profit
(net earned premium less losses and loss adjustment expenses and policy acquisition
costs) is its primary goal. Nonetheless, Crusader believes that it can grow
its sales and profitability by continuing to focus upon three areas of its operations:
(1) product development, (2) improved service to retail brokers, (3) appointment
of captive and independent retail agents, and (4) geographical expansion..
Crusader maintains reserves for losses and loss adjustment expenses with respect
to both reported and unreported losses. When a claim for loss is reported to
Crusader, a reserve is established for the expected cost to settle the claim,
including estimates of any related legal expense and other costs associated
with resolving the claim. These reserves are called “case based”
reserves. In addition, Crusader also sets up reserves at the end of each reporting
period for losses that have occurred but have not yet been reported to Crusader.
These incurred but not reported losses are referred to as “IBNR”
reserves.
Company Address: 5230 Las Virgenes Road, #100 Calabasas 91302 CA
Company Phone Number: 591?9800 Stock Exchange / Ticker: NASDAQ UNAM
|
|
Customers Net Income grew by |
UNAM's Customers Net Profit Margin grew to |
99.08 % |
14.01 %
|
|
|
|
|
|
Stock Performances by Major Competitors |
|
|
Maiden Holdings Ltd
Maiden Holdings Ltd, a Property and Casualty Insurance company, has recently released its financial results for the most recent fiscal period, and the numbers are quite interesting. The company has reported a significant elevation in revenue, with a staggering 159.615% year-on-year increase to $25.21 million. This performance far outpaces its sector peers, as the rest of the Property and Casualty Insurance sector only saw an 11.11% top-line elevation during the same period. However, despite the impressive revenue growth, Maiden Holdings Ltd recorded a deficit per stock at $-0.18. This represents a growth in deficit compared to the prior financial reporting period, which had a deficit of only $-0.03 per share. Despite the growing deficit, the company was able to improve its revenue by 15.863% from $21.76 million.
|
Donegal Group Inc
As we analyze Donegal Group Inc's financial performance for the fourth quarter of 2023, it is essential to highlight the key factors that contributed to the shortfall in earnings per share compared to the previous year. Despite the decrease in earnings, it is crucial to note that the revenue has shown significant growth, which indicates the company's ability to generate income and sustain its operations. The 7.171% increase in revenue to $239.47 million showcases Donegal Group Inc's resilience and capability to navigate through challenging market conditions. This growth in revenue not only reflects the company's strategic initiatives but also signifies its strong market position and potential for future expansion.
|
Hippo Holdings Inc
/>Hippo Holdings Inc., a dominant player in the Property and Casualty Insurance industry, has released its financial results for the October to December 31, 2023 period. The company reported an expansion of losses per share compared to the previous year, but also showcased improved income per share. Moreover, Hippo Holdings experienced a robust increase in revenue, outpacing its industry peers. Let's delve into the details and examine the performance of this stock market player. Revenue Growth: One of the standout aspects of Hippo Holdings' financial report is the significant growth in revenue. In comparison to the same period in the previous year, the company witnessed an impressive 80.168% surge in revenue, from $35.80 million to $64.50 million. Notably, this sequential quarterly increase from $57.70 million showcases consistent growth.
|
Old Republic International Corporation
The stock market has always been a roller coaster ride, with ups and downs that can be both thrilling and nerve-wracking. However, despite the recent challenges faced by the Property and Casualty Insurance industry, there are still promising signs that indicate a potential rebound and growth in the future. In the fourth quarter of 2023, the financial report of the Property and Casualty Insurance company disclosed a soft top and bottom line, with a significant decline in net profit per share of -59.53% and revenue by -17.248% year on year. Revenue dropped to $1.94 billion compared to $2.35 billion in the same period the year before, and earnings per share decreased from $1.70 to $0.69.
|
Universal Insurance Holdings Inc
Universal Insurance Holdings Inc has reported a tumultuous period for its earnings per share (EPS), with a significant decline despite a substantial increase in revenue. In the October to December 2023 period, income fell by 16.6% to $0.69 per share, while revenue saw a remarkable growth of 13.651% to $375.46 million compared to the same quarter the previous year. Despite the decline in EPS, it is encouraging to see the impressive growth in revenue. This suggests that Universal Insurance Holdings Inc has been successful in generating higher sales. Furthermore, when compared to the previous quarter, the company experienced a positive turnaround in earnings per share, improving from $-0.20 per share. Additionally, revenue increased by 4.279% from $360.05 million. These figures indicate that Universal Insurance Holdings Inc has managed to stabilize its financial performance and regain profitability. However, one area of concern in the financial interval closing December 31 2023 is the decline in net profits. The company reported a decrease of 20.36% to $19.999 million compared to the previous year's corresponding period. This decline may be attributed to various factors, such as increased operating expenses or lower investment income. Universal Insurance Holdings Inc needs to address this issue in order to sustain profitability and drive long-term growth.
|
Per Share |
Current |
Earnings (TTM) |
-2.78 $ |
Revenues (TTM) |
2.92 $
|
Cash Flow (TTM) |
- |
Cash |
8.9 $
|
Book Value |
3.38 $
|
Dividend (TTM) |
0 $ |
|
Per Share |
|
Earnings (TTM) |
-2.78 $
|
Revenues (TTM) |
2.92 $ |
Cash Flow (TTM) |
- |
Cash |
8.9 $
|
Book Value |
3.38 $ |
Dividend (TTM) |
0 $ |
|
|
|
|