– 1 E. Wacker Drive, Chicago 60601, 312-661-4600
– Founded: 1990
– Fiscal year-end: Dec. 31
– Chief executive
Chief executive: Richard C. Vie, 55, since 1992.
1992 cash compensation: $365,000, percent change from 1991 not applicable.
Shares owned: 30,100 of 51.8 million common shares.
– Employees: 8,000; 770 in Illinois
– Foreign sales: None of $1.36 billion total in 1992
– May 1, 1993, value of $1,000 in company stock:
Purchased May 1, 1992: $1,319
Purchased May 1, 1988: Not applicable
– Property and casualty insurers were hit hard by catastrophes in 1992. Insurance companies are expected to pay out $21.5 billion in claims, including at least $16 billion for Hurricane Andrew. Unitrin said it minimized the impact of losses on its operating units-United Casualty, Union National Fire and Trinity Universal-through reinsurance.
– Operating profits for the property and casualty segment declined to $48.5 million from $60.2 million in 1991; life and health insurance edged up to $71.6 million from $70.7 million; and consumer finance rose to $18.7 million from $11.4 million.
– Unitrin was spun off from Teledyne Inc. in 1990. Three individuals, including two directors, together hold more than a quarter of the common stock. The company owns 31.3 percent of Litton Industries Inc. and 43.3 percent of Curtiss-Wright Corp., so their results can significantly affect Unitrin earnings. Some analysts expect Unitrin earnings per share to rise to about $3.30 this year from $3.15 before an accounting change in 1991.
