1 E. Wacker Drive, Chicago 60601; 312-661-4600
Web site: www.unitrin.com
Founded: 1990
Employees: 6,866; 861 in Illinois
Year-end: Dec. 31
Foreign sales: None of $1.53 billion
Chief executive: Richard C. Vie, 60, since 1992
Cash compensation: $882,605, up 16 percent
Options granted: $595,850, up 11 percent
Options, stock appreciation rights exercised: $5,623,388
Shares owned: 192,296 of 37.6 million
Largest shareholder: Henry E. Singleton, 19.1 percent
Stock: 365-day close as of April 15
High: $71.44
Low: $49.62
April 15: $68.62
April 17, 1998, value of $1,000 in company stock:
Purchased 1997: $1,439
Purchased 1993: $1,813
The company provides property and casualty insurance, life and health insurance, and consumer-finance services. Unitrin has more than 5 million policies in force.
Improved property and casualty business helped 1997 income from operations, but the company was disappointed when the Missouri Department of Insurance in December disapproved its acquisition of Reliable Life Insurance Co.. Unitrin has sued to overturn the order.
Operating results early in 1998 have pointed to a tougher environment as the company reported a lower volume of auto, life and health insurance, offset somewhat by lower loan losses in consumer finance.
———-
A guide to the Top 100 profiles
The Tribune’s business staff profiles the Chicago area’s Top 100 companies, based on market capitalization as of April 15. Here’s a quick primer on the information you’ll find:
– The CEO’s cash compensation, including bonus and other compensation paid in 1997, along with the change from the prior year.
– The figure for the CEO’s stock holdings includes shares the CEO had the right to acquire within 60 days of the proxy statement’s issuance.
– The company’s largest shareholder.
– Estimated current values of stock options granted the CEO, and the change from the prior year, as well as options and stock appreciation rights exercised during the year. In most cases, the value of options granted is based on an assumption of a 5 percent annual rate of stock price growth, or is determined using the Black-Scholes option pricing model.
– Theoretical total-return investment results for shares purchased for $1,000 a year ago and five years ago. The date on which these calculations are based is April 17. The results assume reinvestment of dividends on a quarterly basis.
The information in the profiles was obtained from the following sources:
– Company reports, including annual reports, public stock offering prospectuses and proxy statements.
– Interviews with company officials.
– Reports by securities analysts.
– News reports.
– Bloomberg News, New York.
– “Hoover’s Handbook,” The Reference Press Inc., Austin, Texas.
