INDM United America Indemnity, Ltd. featured news, full reports, and detailed charts
United America Indemnity, Ltd. (INDM) Wrap Up:
Some of the information contained in this Item 1 or set forth elsewhere in this report, including information with respect to our plans and strategy, constitutes forward-looking statements that involve risks and uncertainties. Please see “Cautionary Note Regarding Forward-Looking Statements” at the end of Item 7 of Part II and “Risk Factors” in Item 1A of Part I for more information. You should review “Risk Factors” in Item 1A of Part I for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained herein. Recent Developments On January 28, 2008, our shareholders approved an amendment to the United America Indemnity, Ltd. Share Incentive Plan (the “Share Incentive Plan”) that allows for the repricing, without shareholder approval, of stock options and other stock-based awards granted under the Share Incentive Plan. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f11%2f0000893220-08-000674.html#FIS_BUSINESS"www.uai.ky
360 Employees
Founded in 1970
United America Indemnity, Ltd (INDM:NASDAQ)
LAST $7.01 USD
CHANGE TODAY +0.21 3.09%
VOLUME 56.9K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of United America Indemnity, Ltd (INDM)
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OPEN
$6.76
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PREVIOUS CLOSE
$6.80
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DAY HIGH
$7.07
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DAY LOW
$6.76
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52 WEEK HIGH
01/9/09 - $13.48
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52 WEEK LOW
03/27/09 - $3.70
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MARKET CAP
424.5M
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AVERAGE VOLUME 3 mo
57.9K
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DILUTED EPS TTM
$-2.84
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SHARES OUTSTANDING
60.6M
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INDM Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
INDM Top Compensated Officers
Mr. Larry A. Frakes
Chief Executive Officer, President, Executive...
Age: 57
Total Annual Compensation: $600.0K
Mr. Thomas M. McGeehan
Interim Chief Financial Officer and Principal...
Total Annual Compensation: $380.7K
Mr. J. Scott Reynolds
President of United National Group
Age: 45
Total Annual Compensation: $393.3K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for United America Indemnity, Ltd (INDM)
United America Indemnity, Ltd expected to Report Fiscal Year 2009 Results on February 15, 2010. This event was calculated by Capital IQ (Created on October 23, 2009).
10/23/2009
United America Indemnity, Ltd expected to Report Fiscal Year 2009 Results on February 15, 2010. This event was calculated by Capital IQ (Created on October 23, 2009).
United America Indemnity Ltd. Reports Consolidated and Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
10/22/2009
United America Indemnity Ltd. reported consolidated and unaudited net income of $27.4 million or $0.45 per basic and diluted share on total revenue of $94.77 million for the third quarter ended September 30, 2009 compared to net loss of $19.6 million or $0.56 per basic and diluted share on total revenue of $85.63 million for the same period of 2008. Gross premiums written for the quarter was at $75.81 million down from $99.03 million reported for the same period last year. Net premiums written for the quarter was at $62.93 million down from $79.71 million reported for the same period last year. Operating income for the quarter was at $22.6 million, or $0.37 per share, against an operating loss of $5.8 million or $0.17 per share. For the nine months ended September 30, 2009, the company reported net income of $50.8 million or $1.04 per basic and diluted share on total revenue of $283.63 million compared to net loss of $21.1 million or $0.57 per basic and diluted share on total revenue of $330.67 million for the same period of 2008. Gross premiums written for the period was at $266.47 million down from $302.41 million reported for the same period last year. Net premiums written for the period was at $227.02 million down from $246.88 million reported for the same period last year. Operating income for the nine month period was at $48.8 million, or $1.00 per share, against an operating loss of $5.1 million or $0.14 per share.
United America Indemnity, Ltd, Annual General Meeting, Oct 27, 2009
09/23/2009
United America Indemnity, Ltd, Annual General Meeting, Oct 27, 2009, at 09:00 Atlantic Daylight. Location: Purvis House, Victoria Plac, 29 Victoria Street, Hamilton,Bermuda. Agenda: To elect seven directors of the company to hold office as specified in the proxy statement; to ratify the appointment of PricewaterhouseCoopers LLP as the independent auditor for 2009 and to authorize board of directors acting through its audit committee to set the fees for PricewaterhouseCoopers LLP; to act on various matters concerning Wind River Reinsurance Company, Ltd; to approve the payment of an arrangement fee and a backstop fee, which the company refer to collectively as the 'Backstop Fees', to Fox Paine & Company, LLC in connection with the recently successfully completed rights offering; to transact such other business as may properly be brought before the annual general meeting or any adjournment or postponement thereof.
INDM Competitors
| Company | Last | Change |
| AMERISAFE Inc | $17.33 USD | -0.04 |
| Donegal Group Inc | $14.98 USD | +0.19 |
| EMC Insurance Group Inc | $21.52 USD | -0.09 |
| National Interstate Corp | $16.59 USD | +0.04 |
| SeaBright Insurance Holdings Inc | $10.98 USD | +0.10 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | INDM | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 1.2x |
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| Price/Book | 0.5x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 0.1x |
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INDM |
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INDM transactions
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Target | |
| No transactions in the last 6 months. | ||
More Recent News About United America Indemnity, Ltd.
More news for INDM
UNITED AMERICA INDEMNITY, LTD Files SEC form 8-K, Change in Directors or Principal Officers
Show all filings for UNITED AMERICA INDEMNITY, LTD | Request a Trial to NEW EDGAR Online Pro Form 8-K for UNITED AMERICA INDEMNITY, LTD 9-Jun-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for infor...Click here to read the whole Article (external link)
United America Indemnity, Ltd. Earnings Call scheduled for 8:30 am ET today
Call DetailsUnited America Indemnity, Ltd. Earnings Conference Call (Q2 2009)Wed, Aug 5, 2009, 8:30 am EasternAbout United America Indemnity, Ltd. (NasdaqGS:INDM)United America Indemnity, Ltd., through its subsidiaries, provides property and casualty insurance products in the excess and surplus lines marketplace. The company also offers third party treaty and facultative reinsurance for the writers of excess, surplus, and specialty lines of property and casualty insurance. It distributes various insurance products, including property, general liability, and professional lines to the small commercial businesses and targeted insured segments through wholesale brokers, program administrators, and a network of wholesale general agents. The company distributes insurance products through a group of professional general agencies, and wholesale insurance brokers who in turn sell its insurance products to insureds through retail insurance brokers. It has operations in the United States, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The company was formerly known as United National Group, Ltd. and changed its name to United America Indemnity, Ltd. in January 2005. United America Indemnity, Ltd. was founded in 1970 and is based in George Town, the Cayman Islands.More Info:Quote |Chart |Profile |Reports |Research |Msgs |Insider |Financials |...Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements
Show all filings for UNITED AMERICA INDEMNITY, LTD | Request a Trial to NEW EDGAR Online Pro Form 8-K for UNITED AMERICA INDEMNITY, LTD 4-Aug-2009Results of Operations and Financial Condition, Financial Statements Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informa...Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Files SEC form 8-K/A, Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 12, 2009, we filed a Form 8-K announcing the appointment of Matthew B. Scott to the position of President of Penn-America Group effective June 8, 2009. At the time of the filing, the terms of Mr. Scott's employment had not yet been finalized. The purpose of this filing is to disclose the terms, which have been agreed upon. In connection with Mr. Scott' appointment, Mr. Scott entered into an employment agreement with Penn-America Insurance Company (the "Company"), an indirect wholly-owned subsidiary of the Registrant. The term of the agreement begins on June 8, 2009 and ends on December 31, 2012 and thereafter is subject to an automatic renewal on a year to year basis in the absence of notice by either party to terminate the agreement. Under the agreement, Mr. Scott is to receive an annual base salary of not less than $250,000. In respect of 2009, Mr. Scott is entitled to a pro-rata bonus for the time spent as Senior Vice President of Diamond State Group, an affiliated group of the Company, and for time spent as President of the Company. The potential award with respect to time spent as President of the Company is $200,000 based on the achievement of the Company achieving milestones and operational goals for the remainder of 2009. In respect of each full calendar year during the term, commencing with 2010, Mr. Scott will be provided with an annual bonus opportunity of $400,000 (the "Annual Bonus"). One-third of the Annual Bonus shall be paid in restricted shares of Class A common stock of the Registrant ("Class A Shares"), valued at the closing price of the Class A Shares on the last trading day of the relevant bonus year. The remaining two-thirds of the Annual Bonus shall be paid in the form of a cash payment. The Annual Bonus, if any, shall be paid on or before March 15 of the applicable...Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and
Show all filings for UNITED AMERICA INDEMNITY, LTD | Request a Trial to NEW EDGAR Online Pro Form 8-K for UNITED AMERICA INDEMNITY, LTD 12-Jun-2009Change in Directors or Principal Officers, Financial Statements and Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informa...Click here to read the whole Article (external link)
United America Indemnity, Ltd. Reports Third Quarter 2009 Financial Results
GEORGE TOWN, Cayman Islands, Oct. 22 /PRNewswire-FirstCall/ -- United America Indemnity, Ltd. (Nasdaq: INDM - News) today reported net income of $27.4 million or $0.45 per share for the three months ended September 30, 2009 compared to net loss of $(19.6) million or $(0.56) per share for the same period of 2008. Results for the nine months ended September 30, 2009 include net income of $50.8 million or $1.04 per share compared to net loss of $(21.1) million or $(0.57) per share for the same period of 2008. (LOGO: http://www.newscom.com/cgi-bin/prnh/20060706/MXTH001LOGO ) Selected Operating and Balance Sheet Data (Dollars in millions, For the Three Months For the Nine Months except per share data) Ended September 30, Ended September 30, 2009 2008 2009 2008 Net income / (loss) $27.4 $(19.6) $50.8 $(21.1) Net income / (loss) per share $0.45 $(0.56) $1.04 $(0.57) Operating income / (loss) $22.6 $(5.8) $48.8 $(5.1) Operating income / (loss) per share $0.37 $(0.17) $1.00 $(0.14) Operating income, a non-GAAP financial measure, is equal to net income excluding ...Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. First Amendment to the Amended and Restated Employment Agreement with Larry A. Frakes On August 14, 2009, United America Indemnity, Ltd. (the "Registrant") and Larry A. Frakes, President and Chief Executive Officer of the Registrant, entered into an amendment (the "Amendment") to Mr. Frakes' amended and restated employment agreement (the "Employment Agreement"), into which Mr. Frakes entered with the Registrant on February 5, 2008. The Employment Agreement was filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K dated February 8, 2008. The principal terms of the Amendment are as follows: 1. Under the Employment Agreement, the Registrant granted Mr. Frakes options to purchase (a) 249,419 time vesting options with an exercise price of $20.05 per share and (b) 249,419 performance vesting options with an exercise price of $20.05 per share. The Amendment modifies the exercise price so that Mr. Frakes now has options to purchase (a) 249,419 time vesting options with an exercise price of $11.90 per share and (b) 249,419 performance vesting options with an exercise price of $11.90. 2. Under the Employment Agreement, 25% of the time vesting options vested on each of December 31, 2008, December 31, 2009, December 31, 2010 and December 31, 2011. The Amendment modifies the vesting schedule as follows: 25% on each of December 31, 2008, December 31, 2010, December 31, 2011 and December 31, 2012. The other terms related to the time vesting options remain unchanged. 3. Under the Employment Agreement, 25% of the performance vesting options provisionally vested on each of December 31, 2008, December 31, 2009, December 31, 2010 and December 31, 2011. The Amendment modifies the vesting schedule as follows: 25% on each of December 31, 2008, December 31, 2010, December 31, 2011 and ...Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Files SEC form 10-Q, Quarterly Report
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and accompanying notes of United America Indemnity included elsewhere in this report. Some of the information contained in this discussion and analysis or set forth elsewhere in this report, including information with respect to our plans and strategy, constitutes forward-looking statements that involve risks and uncertainties. Please see "Cautionary Note Regarding Forward-Looking Statements" at the end of this Item 2 for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained herein. For more information regarding our business and operations, please see our Annual Report on Form 10-K for the year ended December 31, 2008. Recent Developments On May 5, 2009, we received $100.1 million related to the Rights Offering. See Note 8 to the consolidated financial statements in Item 1 of Part I of this report for details concerning the Rights Offering. We issued 17.2 million and 11.4 million of Class A and Class B common shares, respectively, in conjunction with this offering. Please see the specific filings with the SEC for the details regarding the Rights Offering. On June 8, 2009, we announced the appointment of Matthew B. Scott as President of Penn-America Group, effective as of that date. The appointment follows the resignation of Raymond H. (Scott) McDowell as President of Penn-America Group on June 8, 2009. On June 8, 2009, Robert S. Fleischer resigned from our Board of Directors as a result of his having joined Willis Capital Markets and Advisory Services as a Managing Director. On June 16, 2009, Charles F. Barr's tenure as Senior Vice President and General Counsel ended....Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue94,773 96,735 92,121 69,413 Cost of Revenue - - - - Gross Profit - 96,735 92,121 69,413 Operating ExpensesResearch Development - - - - Selling General and Administrative71,127 77,682 82,529 106,600 Non Recurring5,689 - - 96,449 Others - - - - Total Operating Expenses - - - - Operating Income or Loss17,957 19,053 9,592 (133,636)Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes23,646 19,053 9,592 (133,636)Interest Expense1,776 1,832 1,854 1,967 Income Before Tax21,870 17,221 7,738 (135,603)Income Tax Expense(2,673)2,758 723 (17,477)Minority Interest - - - - Net Income From Continuing Ops22,610 16,261 7,150 (120,459)Non-recurring EventsDiscontinued Operations - - - 28 Extraordinary Items - - ...Click here to read the whole Article (external link)
UNITED AMERICA INDEMNITY, LTD Files SEC form 10-Q, Quarterly Report
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and accompanying notes of United America Indemnity included elsewhere in this report. Some of the information contained in this discussion and analysis or set forth elsewhere in this report, including information with respect to our plans and strategy, constitutes forward-looking statements that involve risks and uncertainties. Please see "Cautionary Note Regarding Forward-Looking Statements" at the end of this Item 2 for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained herein. For more information regarding our business and operations, please see our Annual Report on Form 10-K for the year ended December 31, 2008. Recent Developments On May 5, 2009, we completed the Rights Offering in which a total of 17,178,421 Class A common shares and 11,435,244 Class B common shares were issued. The issuance of the Class A common shares included 41,588 Class A common shares issued to an affiliate of Fox Paine & Company in a private placement pursuant to Section 4(2) of the Securities Act, as amended. The affiliate of Fox Paine & Company purchased the 41,588 Class A common shares for $3.50 per share, which was the subscription price at which all Class A common shareholders and Class B common shareholders were entitled to purchase additional shares. At the Annual General Shareholders' meeting held on October 27, 2009, our shareholders voted to approve the payment to Fox Paine & Company of the arrangement fee of $2.0 million and backstop fee of $5.0 million related to the Rights Offering, in which a total of 17,178,421 Class A common shares and 11,435,244 Class B common shares were...Click here to read the whole Article (external link)
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