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New York Liquidation Bureau
Maria T. Vullo
Superintendent as Receiver
 
Court Orders:


Contact Person(s):

Panso Satnarine

Phone  (212) 341-6863

Email   psatnarine@nylb.org

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U.S. Capital Insurance Company

Estate Profile:
Date of Rehabilitation: 08/22/1997
Date of Liquidation: 11/20/1997
Termination of Policies:  
          Out of State: 09/22/1997
          New York: 10/20/1997
Proof of Claim Filing Deadline: 03/20/1998
Dividend Distribution: 07/2012 45.00%
06/2013 04.86%
09/2013 01.12%
TOTAL 50.98%
Bar Date: 05/31/2013


Historical Information:

U. S. Capital Insurance Company was incorporated on January 11, 1985, as the Multiplus Insurance Company and began business in March, 1987. Effective May 25, 1989 the name was changed to United Capital Insurance Company. On June 14, 1989, the current name was adopted.

Outstanding capital stock was held by U. S. Capital Group Inc. (formerly Pan Atlantic, Inc.) a publicly traded Delaware corporation. The holding company group was comprised of 12 companies fully integrated into the international insurance markets and operated through five subsidiary insurance and reinsurance companies.

The company wrote mainly private passenger and commercial automobile policies and some commercial multi-peril, other liability, surety and miscellaneous lines. Most of the business was produced in New York, California and Louisiana. It ceased underwriting in April 1996.