Unico American Corporation
UNAM
NASDAQ Global Market0.07
USD
- -
- -
CIK
0000100716
ISIN
US9046071083
CUSIP
904607108
Return %
Stock
S&P500
1Y
2,087.50
18.21
3Y
-97.92
64.38
5Y
-98.90
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Steven Latus Shea
- Full Time Employees
- 38
- Sector
- Financial Services
- Industry
- Insurance - Property & Casualty
- Address
- 5230 Las Virgenes Road Calabasas CA United States of America 91302
- IPO Date
- Mar 27, 1987
- CIK
- 0000100716
- Website
- unicoamerican.com
- Similar Companies
- Business
- Unico American Corporation operates in the insurance industry as a specialty insurance holding company, primarily providing workers' compensation insurance products and services. Its core business is conducted through its principal subsidiary, Crusader Insurance Company, which underwrites and administers various insurance contracts including workers' compensation policies, primarily focused on the California market. The company offers tailored insurance products targeting small to medium-sized businesses with a strategic concentration on risk management solutions in the property and casualty insurance sectors. Founded in 1920 and headquartered in San Francisco, California, Unico American has historically specialized in the California workers' compensation insurance market, with operations primarily concentrated in that state. Over the recent years, the company has faced significant operational and regulatory challenges, including a shift into runoff mode where it ceased writing new business and focused on winding down existing operations. This strategic shift reflects industry and regulatory pressures specific to the California market. In 2023, the company's principal subsidiary, Crusader Insurance Company, was placed into conservation, and the firm received a delisting notice from Nasdaq due to continued financial and compliance challenges, including non-compliance with periodic filing requirements. These developments signal a significant operational contraction and financial distress within the last one to two years. Despite its longstanding presence in the insurance sector, Unico American has faced substantial financial losses, including a net loss of approximately $14.8 million for the fiscal year ended 2023, with stockholders' equity declining to around $6.1 million by year-end 2023. These financial challenges have underscored the company's need to restructure and reconsider its business model amidst intense market and regulatory headwinds in California. Unico American's strategic focus remains on managing and resolving its existing insurance portfolio while navigating the constraints imposed by regulatory authorities and capital markets.
Why Is Unico American (UNAM) Stock Down 24% Today?
Unico American Corporation Announces Review of Strategic Alternatives
Unico American Corporation Reports Second Quarter 2021 Financial Results
Unico American Corporation Reports First Quarter 2021 Financial Results
Unico American Corporation Reports Fourth Quarter and Full Year 2020 Financial Results