SeaBright Insurance Holdings Authorized to Begin Trading on New York Stock Exchange (“NYSE”)
October 24 2008 - 4:00PM
Business Wire
SeaBright Insurance Holdings, Inc. (Nasdaq:SEAB) today announced
that the Company has been authorized by the NYSE to trade on the
NYSE under the ticker symbol �SBX.� The Company will move from the
NASDAQ Global Select Market (�NASDAQ�) to the NYSE and expects to
begin trading on the NYSE on November 6, 2008. The Company will
continue to trade on the NASDAQ until that time. �SeaBright remains
committed to providing its shareholders with an efficient trading
platform and is honored to partner with the New York Stock
Exchange,� said John G. Pasqualetto, SeaBright�s Chairman,
President and Chief Executive Officer. �Its worldwide prestige and
reputation for listing the world�s best companies is a great match
for SeaBright, and helps us promote investor awareness of our
strong historic financial performance and proven business model.�
�We are pleased to welcome SeaBright to our family of listed
companies,� said Catherine R. Kinney, Group EVP and Head of Global
Listings, NYSE. �We look forward to providing SeaBright with the
market quality, broad visibility and information services offered
to issuers on the NYSE.� About SeaBright Insurance Holdings, Inc.
SeaBright Insurance Holdings, Inc. is an insurance holding company
whose wholly owned subsidiary, SeaBright Insurance Company,
operates as a specialty underwriter of multi-jurisdictional
workers� compensation insurance. SeaBright Insurance Company
distributes its maritime, alternative dispute resolution and state
act products through selected independent insurance brokers and
through its in-house wholesale broker affiliate, PointSure
Insurance Services. SeaBright Insurance Company provides workers'
compensation coverage to employers in selected regions nationwide.
To learn more about SeaBright Insurance Company and SeaBright
Insurance Holdings, Inc., visit our website at www.sbic.com.
Cautionary Statement Some of the statements contained in this press
release are �forward-looking statements� within the meaning of the
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify forward-looking statements by terminology such as
�may,� �will,� �should,� �expect,� �plan,� �intend,� �anticipate,�
�believe,� �estimate,� �predict,� �potential� or �continue,� the
negative of these terms or other terminology. Forward-looking
statements are based on the opinions and estimates of management at
the time the statements are made and are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those anticipated in the forward-looking
statements. Factors that could affect the Company's actual results
include, among others, the fact that our loss reserves are based on
estimates and may be inadequate to cover our actual losses; the
uncertain effects of emerging claim and coverage issues on our
business; the geographic concentration of our business; an
inability to obtain or collect on our reinsurance protection; a
downgrade in the A.M Best rating of our insurance subsidiary; the
impact of extensive regulation of the insurance industry and
legislative and regulatory changes; a failure to realize our
investment objectives; the effects of intense competition; the loss
of one or more principal employees; the inability to acquire
additional capital on favorable terms; a failure of independent
insurance brokers to adequately market our products; the loss of
our rights to fee income and protective arrangements that were
established in connection with the acquisition of our business; and
the effects of acts of terrorism or war. More information about
these and other factors that potentially could affect our financial
results is included in our 2007 Annual Report on Form 10-K, filed
with the U.S. Securities and Exchange Commission on March 17, 2008,
and in our other public filings filed with the U.S. Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance upon these forward-looking statements, which speak only as
of the date of this release. The Company undertakes no obligation
to update any forward-looking statements.
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