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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Specialty Underwriters Allianc (MM) | NASDAQ:SUAI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.62 | 0 | 01:00:00 |
o | Preliminary Proxy Statement | |
o | Confidential, for Use of the Commission Only (as permitted by Rule 14a- 6(e)(2) ) | |
o | Definitive Proxy Statement | |
þ | Definitive Additional Materials | |
o | Soliciting Material Pursuant to §240.14a-12 |
þ | No fee required. | |
o | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
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o | Fee paid previously with preliminary materials. | |
o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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| SUAS BOARD DELIBERATED FULLY WITH ITS LEGAL AND FINANCIAL ADVISORS IN 2008 AND DETERMINED THE OFFER WAS WELL BELOW MARKET FOR INSURANCE ACQUISITIONS . | ||
| THIS SENTIMENT WAS UNANIMOUSLY SUPPORTED BY THE MANY STOCKHOLDERS WE VISITED AFTER THE DECISION IN 2008. | ||
| THE COMPANYS SENIOR MANAGEMENT HAS MET WITH HALLMARK DURING 2008 AND 2009 AT HALLMARKS REQUEST. | ||
| FOUR OF SUAS INDEPENDENT DIRECTORS HAVE MET WITH HALLMARKS CHAIRMAN, MARK SCHWARZ, AND CEO, MARK MORRISON, TO HEAR THEIR PERSPECTIVES AND POSITIONS. | ||
| OUR BOARD WILL CONTINUE TO CONSIDER WHETHER A SALE OR MERGER WILL BEST INCREASE VALUE FOR OUR STOCKHOLDERS AS COMPARED TO ORGANIC GROWTH. | ||
| WE BELIEVE ANY SALE OR MERGER TRANSACTION SHOULD RECOGNIZE THE LONG-TERM POTENTIAL OF THE SUA BUSINESS PLATFORM. |
Page 2 of 4 |
| RISKMETRICS GROUP RATES SUA AS HAVING A BETTER CORPORATE GOVERNANCE QUOTIENT (CGQ) THAN 83.1% OF RATED INSURANCE COMPANIES. | ||
| HALLMARKS CGQ IS BETTER THAN JUST 31.4% OF INSURANCE COMPANIES. | ||
| THE STRATEGIC REVIEW COMMITTEE OF SUA (COMPOSED SOLELY OF INDEPENDENT DIRECTORS) PROACTIVELY REVIEWS SUAS PROSPECTS AND STRATEGIC ALTERNATIVES WITH THE INTERESTS OF ALL SUA STOCKHOLDERS IN MIND NOT JUST THE INTERESTS OF HALLMARK FINANCIAL. |
| OUR COMPENSATION COMMITTEE (COMPRISED OF INDEPENDENT BOARD MEMBERS) CONDUCTED A COMPREHENSIVE REVIEW OF OUR OFFICER COMPENSATION DURING CALENDAR 2007 WITH THE ASSISTANCE OF F.W. COOK, A NATIONALLY RECOGNIZED COMPENSATION CONSULTANT. | ||
| OUR COMPENSATION COMMITTEE RE-NEGOTIATED EXISTING EMPLOYMENT AGREEMENTS DURING 2007 AND EARLY 2008 AND APPROVED THE REVISED AGREEMENTS MORE THAN TWO MONTHS PRIOR TO HALLMARKS WRITTEN OFFER (A MERE FOUR DAYS AFTER HALLMARK RAISED THE POSSIBILITY OF A BUSINESS COMBINATION). | ||
| POTENTIAL SEVERANCE PAYMENTS UNDER THE NEW AGREEMENTS ARE LESS THAN THOSE PROVIDED FOR IN THE INITIAL EMPLOYMENT AGREEMENTS THAT WERE IN PLACE WHEN THE COMPANY WENT PUBLIC . |
| SUA WENT PUBLIC IN LATE 2004 AND, DESPITE TOUGH ECONOMIC TIMES, HAS MADE CONSIDERABLE STRIDES TO GROW ITS BUSINESS. | ||
| IN FACT, OVER THE PAST THREE YEARS: |
| SUAS BOOK VALUE GROWTH HAS AVERAGED 9.2% ANNUALLY. | ||
| SUAS AVERAGE RETURN ON EQUITY HAS BEEN 7.6%. | ||
| SUAS STOCK PRICE HAS BEATEN THE S&P 500 P&C INSURANCE INDEX. |
Page 3 of 4 |
| OUR LOSS RATIOS ARE APPROXIMATELY 10% LOWER THAN THE INDUSTRY . 1 | ||
| A MORE APPROPRIATE MEASUREMENT IS OUR COMBINED RATIO (EXPENSE AND LOSS RATIO), WHICH HAS AVERAGED BETTER THAN THE INDUSTRY OVER THE LAST THREE YEARS . 1 |
1 | Based on SNL Financial, Inc. P&C Industry Data. |
Page 4 of 4 |
| Even if you have previously signed a gold proxy card, you should sign, date and return the enclosed WHITE PROXY CARD . You have the right to change your vote and only the latest dated proxy counts. | ||
| Please do not send back any gold proxy card you receive, even to vote against the Hallmark candidates . Doing so will cancel any prior vote you cast for your board. Please return only the WHITE PROXY CARD . |
1 Year Specialty Underwriters Alliance Chart |
1 Month Specialty Underwriters Alliance Chart |
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