Content analysis
?Positive | ||
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Uncertain | ||
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Legalese | ||
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New words:
announcing, Baker, closure, delist, delisting, fairly, firm, Georgia, Krause, listing, LLP, modestly, Nasdaq, OTCQX, registered, symbol, Tilly, unclear, uncollectible, Virchow, voluntarily
Removed:
expensed, insurer, PIGA
Financial report summary
?Management Discussion
- Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
- Positive Physicians Holdings, Inc. is a Pennsylvania domiciled holding company, which was incorporated on May 1, 2018 for the purpose of acquiring three Pennsylvania based reciprocal insurance exchanges: Positive Physicians Insurance Exchange (“PPIX”), Professional Casualty Association (“PCA”), and Physicians’ Insurance Program Exchange (“PIPE”). In connection with the completion of PPHI’s initial public offering, PPIX, PCA, and PIPE converted from reciprocal insurance exchanges into stock insurance companies.
- As part of the conversions, on March 27, 2019, PPIX merged with and into PPIX Conversion Corp., PCA merged with and into PCA Conversion Corp., and PIPE merged with and into PIPE Conversion Corp. Accordingly, PPIX, PCA, and PIPE no longer exist. Immediately thereafter, PCA Conversion Corp. and PIPE Conversion Corp. merged with and into PPIX Conversion Corp., which then changed its name to Positive Physicians Insurance Company (“Positive Insurance Company”) and became our single insurance company subsidiary and successor to PPIX, PCA, and PIPE. PPHI had minimal assets and liabilities and had not engaged in any operations prior to March 27, 2019.