GAINSCO, INC. engages in the property and casualty insurance business, focusing on the nonstandard personal auto market. The Company writes minimum and slightly higher coverage limits, nonstandard auto insurance in Arizona, Florida, Nevada, New Mexico, South Carolina, Texas and California. Its insurance operations, which include its ongoing nonstandard personal auto insurance and the runoff of its commercial lines business, are conducted through one insurance company: MGA Insurance Company, Inc. (MGA), and two non-risk bearing managing general agency subsidiaries and a claims adjustment company. Another insurance company previously owned by the Company, General Agents Insurance Company of America. Inc. (General Agents) was sold in 2007. The Company’s principal products served certain nonstandard markets within the commercial lines and personal lines.
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