Auto insurance underwriting loss narrows to 2.8 billion in 2017 The State Farm property-casualty (P-C) group of companies today reported a combined underwriting loss of $6.5 billion in 2017 on earned premium of $63.9 billion, compared to an underwriting loss of $5.5 billion on earned premium of $61.7 billion in 2016. The 2017 underwriting loss, […]
Fix Auto UK Adds Collision Repair Center to Network in Liverpool
Fix Auto UK announced its third new franchisee in less than six weeks with the addition of Crossleys Accident Repair Centre to its network. They will now operate as Fix Auto Liverpool. Owner Martin Cross, who has been repairing vehicles for the last 21 years, got the keys to the 22,000 sq ft repair center […]
Private Equity Firm Combines JN Phillips Auto Glass and TechnaGlass to Form TruRoad Holdings
CenterOak Partners LLC, a Dallas, Texas based private equity firm, announced the formation of TruRoad Holdings, Inc. through its investment in JN Phillips Auto Glass and subsequent combination with Techna Glass, Inc. According to the company together, the new firm is the second largest automotive glass and claims-management company in the United States. CenterOak’s investment […]
BASF Launches New Resource-Saving Refinish Product Line in Europe
BASF’s Coatings division announced it has launched new product lines in Europe for its Glasurit and R-M® refinish paint brands that make automotive refinishing more sustainable. According to the company they are the world’s first refinish products manufactured according to the certified biomass balance approach, therefore contributing to reduce CO2 emissions. For the biomass […]
California DMV Targets Unlicensed Vehicle Dismantlers in Los Angeles County
Strike team issues 29 citations in Sun Valley and Pacoima Investigators with the California Department of Motor Vehicles (DMV) conducted an enforcement operation in Los Angeles County on February 22, 2018, aimed at combating unlicensed vehicle dismantlers. DMV investigators targeted 40 locations in Sun Valley and Pacoima and issued 29 misdemeanor citations for offenses such […]
Fenix Parts Acquired by Stellex Capital Management
Private equity firm will pay over $8 million in cash for shares and assume $40 million in liabilities. Fenix Parts, Inc. (Pink Sheets:FENX), the auto recycler, today announced that it has entered into a merger agreement with the private equity firm Stellex Capital Management LP. Under the agreement, a Stellex-controlled affiliate will acquire the company […]
Erin Cambero Named VP Field Services at Repairify
Repairify, Inc., the parent company of asTech, announced it has named Erin Cambero Vice President of Field Services. As part of her role, Cambero will oversee the continued growth and efficiency of the company’s Field Services, a full-service mobile solution for in-shop repairs. Cambero has 20 years of experience in the automotive industry. She began […]
AMi Adds Continuing Education Requirement to Maintain Designations
The Automotive Management Institute (AMi) announced new continuing education (CE) requirements to maintain its professional designations. AMi will provide designation graduates holding one of its many professional designations until Dec. 31, 2018 to complete six credit hours of AMi-approved training to maintain a “current designation status.” After 2018, anyone holding an AMi professional designation must […]
Mike’s Auto Body Opens Aluminum Repair Annex in San Ramon, California
Mike’s Auto Body announced it recently added its second aluminum facility in San Ramon, Calif. in a 13,000 sq. ft. building that is located nearby its existing collision repair shop. In 2017, Ford sold nearly 900,000 F-Series trucks in the U.S. with bigger numbers forecasted for this year, so Mike’s is ready to deal with […]
GEICO Plans to Add 1,400 IT and Claims Positions in Indianapolis
GEICO announced plans to add more than 1,400 associates as the company grows its operations in the Indianapolis, Ind. market. The company’s office, at 101 W. 103rd St. in Carmel, Ind. will nearly double in size after an expansion that will add an additional 104,000 square-feet. With the larger space, GEICO Indianapolis will add IT […]
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