Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Charter Communications Inc    CHTR

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Charter Communications : Gov. Malloy Announces Charter Communications Relocating Captive Insurer Division to Connecticut

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/05/2017 | 01:12pm CET

HARTFORD, Conn., Oct. 4 -- Gov. Dannel P. Malloy, D-Conn., issued the following news release:

Governor Dannel P. Malloy today announced that Stamford-based Charter Communications, the second-largest cable company in the nation, continues to expand its business footprint in Connecticut by basing its entire captive insurance operations in the state.

"This is a clear example of a Connecticut company that understands that Connecticut is a great place to do business - they are growing their corporate headquarters and adding hundreds of new, good paying jobs here," Governor Malloy said. "And now, by establishing their entire captive insurance operations in Connecticut, they are further committing their company to our state. We value Charter's confidence and look forward to their continued success."

The captive, Spectrum Communications Indemnity, Inc., is the largest of 15 captives licensed in Connecticut and will provide coverage for Charter's workers compensation, auto liability, general liability and employment practices liability.

"We are delighted that Charter has chosen Connecticut to grow its captive insurance operations," Connecticut Insurance Department Commissioner Katharine L. Wade said. "This gives the corporation the critical tools it needs to manage its costs and reinvest in its employees and overall operations. Connecticut provides companies of all sizes with a collaborative, prudent regulatory environment aimed at creating sustainable captives to insure and manage their risks for the long term."

"As a Stamford-headquartered business, Charter is pleased to bring our insurance captives to the state of Connecticut," Catherine Bohigian, Executive Vice President of Government Affairs for Charter Communications, said. "As Charter continues to grow in Connecticut, we look forward to furthering economic opportunities in the state."

A captive insurance company is wholly owned and controlled by a parent company or association, and operates to insure the parent's own risks. Captives are licensed and closely monitored by the state Insurance Department and provide innovative and unique solutions to problems with no other readily available market option and provide all types of business with creative financial management tools.

The Insurance Department initially licensed the captive insurer in December 2016 and Charter subsequently merged all its captive insurance operations as of May 31, 2017. As a result, the combined assets were approximately $400 million following the merger. Annual premiums are anticipated to be approximately $157 million for the current fiscal year.

Targeted News Service, source News Service

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CHARTER COMMUNICATIONS INC
01/14 CHARTER COMMUNICATIONS : Urban League wins grant for mobile computer lab
01/11 CHARTER COMMUNICATIONS : Brandon Sherer Named Central North Carolina News Direct..
01/11 CHARTER COMMUNICATIONS : Vanessa Green Sinders Named SVP, Government Affairs
01/11 S&P 500 ANALYST MOVES : Chtr
01/09 PATRICK DRAHI : Drahi hits Altice reset button to court wary investors
01/08 CHARTER COMMUNICATIONS : Bringing a New, True Broadband Choice to Over 42,000 Ne..
01/02 CHARTER COMMUNICATIONS : Vanessa Green Sinders Named SVP, Government Affairs
2017 CHARTER COMMUNICATIONS : Spectrum to increase Georgetown cable rates after Jan. ..
2017 CHARTER COMMUNICATIONS, INC. /MO/ : Entry into a Material Definitive Agreement, ..
2017 CHARTER COMMUNICATIONS : Company introduces low-cost broadband service to city
More news
News from SeekingAlpha
01/12 EVERCORE : Lions Gate offers strategic value in consolidating sector
01/08 Charter +1.7% as Moffett boosts to Buy, citing tax benefits
01/05 Charter names Pope to newly created head of content role
01/05 PAY TV ROUNDUP : The price hikes of 2018
2017 DISRUPTION : Cord Cutting, OTT, And Streaming
Financials ($)
Sales 2017 41 578 M
EBIT 2017 4 242 M
Net income 2017 582 M
Debt 2017 66 824 M
Yield 2017 -
P/E ratio 2017 138,71
P/E ratio 2018 62,77
EV / Sales 2017 3,96x
EV / Sales 2018 3,84x
Capitalization 98 029 M
Chart CHARTER COMMUNICATIONS INC
Duration : Period :
Charter Communications Inc Technical Analysis Chart | CHTR | US16119P1084 | 4-Traders
Technical analysis trends CHARTER COMMUNICATIONS INC
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 396 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer & Executive VP
James A. Blackley EVP-Engineering & Information Technology
W. Lance Conn Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CHARTER COMMUNICATIONS INC5.37%98 029
LIBERTY GLOBAL PLC2.87%29 079
DISH NETWORK3.62%23 075
LIBERTY BROADBAND CORP6.17%16 472
CYFROWY POLSAT SA-3.85%4 508
CABLE ONE INC1.54%4 092