July 11, 2014 8:58 AM ET

Insurance

Company Overview of SeaBright Holdings, Inc.

Company Overview

SeaBright Holdings, Inc., through its subsidiaries, underwrites multi-jurisdictional workers’ compensation insurance for maritime customers, state act customers, and employers in the construction industry in the United States. The company provides workers’ compensation insurance coverage for prescribed benefits that employers are required to provide to their employees who may be injured in the course of their employment. It also offers related wholesale brokerage services, and distributes state act, maritime, and alternative dispute resolution products; and provides integrated managed medical care services, including medical bill review, utilization review, physician case management, and rel...

1501 4th Avenue

Suite 2600

Seattle, WA 98101

United States

Founded in 1986

324 Employees

Phone:

206-269-8500

Fax:

206-269-8912

Key Executives for SeaBright Holdings, Inc.

Chief Executive Officer
Chief Financial Officer
Age: 52
President of PointSure Insurance Services Inc
Age: 54
Principal Accounting Officer
Age: 59
Senior Vice President of Underwriting
Age: 47
Compensation as of Fiscal Year 2014.

SeaBright Holdings, Inc. Key Developments

SeaBright Holdings, Inc. Announces Management Changes; Announces Amendments to Articles of Incorporation

On February 7, 2013, pursuant to the Agreement and Plan of Merger, dated as of August 27, 2012, by and among SeaBright Holdings, Inc., Enstar Group Limited and AML Acquisition Corp. merged with and into the company with the company surviving the Merger as a wholly-owned subsidiary of Enstar. Pursuant to the Merger Agreement, the directors of Merger Sub became the directors of the company and the company’s existing directors ceased to be the directors of the company as of the effective time of the Merger. As a result, the following individuals became directors of the company upon consummation of the Merger: Karl J. Wall; Thomas Nichols; Steven Given; and Robert Redpath. Pursuant to the Merger Agreement, the officers of Merger Sub became the officers of the company as of the effective time of the Merger. As a result, the following individuals became the officers of the Company upon consummation of the Merger: Karl Wall, President; Robert Redpath, Vice President; Thomas Nichols, Treasurer; Steven Given, Executive Vice President; and Thomas J. Balkan, Secretary. Pursuant to the Merger Agreement, at the effective time of the Merger, the company’s Certificate of Incorporation was amended and restated in its entirety to be identical to the Certificate of Incorporation of Merger Sub as in effect immediately prior to the effective time of the Merger except that the name of the surviving corporation therein is 'SeaBright Holdings, Inc.', and such amended and restated Certificate of Incorporation became the Certificate of Incorporation of the company. Pursuant to the Merger Agreement, at the effective time of the Merger, the Bylaws of the Company were amended and restated in their entirety to be identical to the Bylaws of Merger Sub, as in effect immediately prior to the effective time of the Merger, and such amended and restated Bylaws became the Bylaws of the company.

SeaBright Holdings, Inc. Announces Resignation of Richard J. Gergasko as Chief Operating Officer

SeaBright Holdings, Inc. announced the resignation of Richard J. Gergasko as Chief Operating Officer of the company effective January 31, 2013. Mr. Gergasko is leaving to accept a senior level position with another company.

SeaBright Holdings, Inc. Enters into Memorandum of Understanding Regarding Settlement of Two Class Action Lawsuits

SeaBright Holdings, Inc. entered into a memorandum of understanding regarding the settlement of two class action lawsuits that were filed on behalf of the company's stockholders following the announcement of the merger agreement, dated as of August 27, 2012, among Enstar Group Limited, AML Acquisition Corp. (Merger Sub) and the company. As previously disclosed in the definitive proxy statement filed with the Securities and Exchange Commission on October 16, 2012, on September 13, 2012, a purported stockholder in the company, Mitchell Daks, filed a lawsuit in the Superior Court of the State of Washington in and for the County of King against the company, the members of the company's board of directors, and Merger Sub. On October 5, 2012, the plaintiff filed an amended complaint, along with a motion to expedite discovery and for a briefing and hearing schedule on the plaintiff's anticipated motion for a temporary injunction.

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