Republic cuts its Texas operations after losses in '89. (Republic Insurance Group)

Republic cuts its Texas operations after losses in '89

Republic Insurance Group of Dallas will cut nearly half of its agents statewide in a move designed to regain profitability, officials said.

Republic Insurance is a nationwide company with assets of $752.9 million and a net surplus of $740.9 million, according to the Texas State Board of Insurance. Having sustained multimillion-dollar claims in Texas last year, the property and casualty company has decided to concentrate on other areas of the country, an official at Republic said.

Jim Oliver, the company's senior vice president, said 250 agencies from its total of 580 will be …