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Enterprising Investor

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Friday, 07/20/2018 1:29:40 AM

Friday, July 20, 2018 1:29:40 AM

Post# of 467
The Acceptance Insurance Company, Inc subsidiary had surplus of $2.4 million at 3/31/18, down from $3.0 million at 12/31/17.

It reported negative surplus from 2002 through 2014.

The company has been in runoff for many years. It had received claims for damages due to silicosis on three of its policies, according the Statement of Actuarial Opinion produced by PWC at 12/31/17.

In addition, $106.4 million in unused operating loss carryforwards is available to offset future taxable income.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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