State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm’s 98-year history that it has acquired an insurance company, the company said. …
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” of MGA Insurance Co. Inc. (MGA), …
Dallas-based GAINSCO Inc. announced that it has expanded its business offerings beyond that of strictly a non-standard personal automobile insurance writer and servicer, and entered the business of owning and operating a franchised automobile dealership. Effective Nov.13, 2013, GAINSCO, through …
