AM Best Upgrades the Financial Strength Rating of GAINSCO Auto Insurance®

We’ve officially made the grade! AM Best, the insurance industry’s leading rating agency, recently upgraded its financial strength rating of GAINSCO’s principal insurance subsidiary, MGA Insurance Company, Inc. (GAINSCO Auto Insurance®), from a B++ to an A-. The new rating puts our company in the “Excellent” category for financial strength, further solidifying the impact of…

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State Farm® Closes Purchase of GAINSCO

BLOOMINGTON, Ill., December 31, 2020 – In September, State Farm Mutual Automobile Insurance Company announced an agreement to acquire non-standard auto insurer GAINSCO for approximately $400 million in cash. The transaction closed on Dec. 31. The closing finalizes the first acquisition of an insurance company by State Farm in the company’s 98-year history. In the…

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State Farm® to Acquire GAINSCO

BLOOMINGTON, Ill., September 17, 2020 – State Farm Mutual Automobile Insurance Company, America’s largest property and casualty insurance provider, and GAINSCO, Inc. announced today that they have entered into an agreement pursuant to which State Farm will acquire GAINSCO for approximately $400 million in cash. The transaction is expected to close in early 2021, subject…

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GAINSCO Announces Special Cash Dividend

DALLAS, Texas, June 19, 2018 – GAINSCO, INC. (the “Company”) (Pink Sheets: GANS) today announced that its board of directors approved a special cash dividend of $2.00 per share. The special dividend will be payable on July 11, 2018 to shareholders of record on June 29, 2018. The Company believes that, at its current size,…

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GAINSCO Named Company of the Year by Texas PIA

Dallas, TX, May 22, 2018 – GAINSCO Auto Insurance® was recently named the Company of the Year by the Texas Professional Insurance Agents. Founded in 1995, Texas Professional Insurance Agents (PIA) is dedicated to providing meaningful assistance to insurance agents and consumers with insurance-related affairs. Their mission is to promote professionalism, knowledge, integrity, value, collaboration, and…

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GAINSCO Announces Special Cash Dividend

DALLAS, Texas, August 8, 2017 – GAINSCO, INC. (the “Company”) (Pink Sheets: GANS) today announced that its board of directors approved a special cash dividend of $1.50 per share. The special dividend will be payable on August 30, 2017 to shareholders of record on August 18, 2017. The Company believes that, at its current size,…

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ITC Launches GAINSCO Buy Now in TurboRater for Websites in Texas

Insurance Technologies Corporation (ITC), a provider of websites, marketing, rating and management software and services, announced today it has launched GAINSCO Auto Insurance® (https://www.gainsco.com) Buy Now in Texas in its online consumer rater TurboRater for Websites. When a consumer visits an insurance website that has TurboRater for Websites and gets a comparison quote for multiple…

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GAINSCO wins Best Booth at IIAT

Posted on June 29, 2016 by Matt Smith, Communications IIAT: The Results Are In! Congrats to the Trade Show Award Winners Thank you to all the exhibitors who participated in IIAT’s 119th Annual Conference & Trade Show. More than 140 companies were on hand to promote their products and services and meet with IIAT members.…

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GAINSCO Announces Special Cash Dividend

DALLAS, Texas, June 29, 2016 – GAINSCO, INC. (the “Company”) (Pink Sheets: GANS) today announced that its board of directors approved a special cash dividend of $2.50 per share. The special dividend will be payable on July 20, 2016 to shareholders of record on July 11, 2016. The Company believes that, at its current size,…

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