Corporate Profile for SABLE Insurance Company, dated Sept. 12, 1997.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Sept. 12, 1997
Company Name: SABLE Insurance Company
Address: 433 California St., 11th Floor
San Francisco, CA 94104
Main Telephone
Number: 415/228-4000
Chief Executive
Officer: Aaron Richardson
Chief Financial
Officer: Joseph Robinson
Investor Relations
Contact: Susan Spencer
Business number: 415/228-4002
Home number: 415/775-3334
Public Relations
Contact: Susan Spencer
Business number: 415/228-4002
Home number: 415/775-3334
Industry: Insurance
Company description: Sable sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or black, sometimes with white underparts and sometimes flecked with silver. Insurance Company (Sable), a new property/casualty insurance company, was formed by Aaron Richardson and Reliance National, a principal unit of Reliance Group Holdings, Inc. The company commenced operations Sept. 2, 1997, upon receipt of its license by the California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state . Sable Insurance Company was capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. with $6.1 million paid-in capital Paid-in capital Capital received from investors in exchange for stock, but not stock from capital generated from earnings or donated. This account includes capital stock and contributions of stockholders credited to accounts other than capital stock. and surplus. California-domiciled, Sable is California's first African American-owned property/casualty insurance company and the only one of its kind in existence. The company underwrites selected lines of insurance where it enjoys a specific market advantage -- specifically with public utilities, public entities, Fortune 1000 companies, and other organizations of similar size and complexity. While Sable is now authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting property and casualty insurance in California, the company plans to eventually conduct business in all 50 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , and selectively on an international basis. The company sells its products and services through independent insurance agents and brokers. CONTACT: SABLE Insurance Company |
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