U-Haul Holding Co /NV/ (NYSE: UHAL-B)

U-Haul Holding Company is North America’s largest do it yourself moving and storage operator through its subsidiary U-Haul International. The company rents trucks and trailers sells moving supplies and self storage units and provides propane refilling and insurance services across the United States and Canada.

Revenue comes primarily from truck and trailer rentals moving supply sales self storage rentals propane sales and insurance premiums. Truck and trailer rentals are generated through a network of company operated stores and independent dealers who earn commissions on gross revenue. Moving supplies include boxes tape and packing materials sold at stores and online. Self storage revenue is derived from renting units at company owned facilities and managing properties for third parties. Insurance revenue is earned by the property and casualty and life insurance subsidiaries through underwriting policies and handling claims for customers.

The company operates through the following segments: Moving and Storage Property and Casualty Insurance and Life Insurance.

• Moving and Storage includes truck and trailer rentals moving supply sales self storage operations propane refilling and related services such as the U Box program and moving help marketplace.

• Property and Casualty Insurance provides loss adjusting and claims handling for U Haul and underwrites protection packages such as Safemove Safetow Safemove Plus Safehaul and Safestor for customers.

• Life Insurance offers life health and annuity policies primarily to the senior market through direct writing and reinsurance activities.

U-Haul Holding Company holds a leading position in the do it yourself moving and storage market in North America. Its truck and trailer rental business competes with national players such as Avis Budget Group Penske Truck Leasing and Enterprise Truck Rental. In the self storage sector it faces competition from Public Storage CubeSmart and Extra Space Storage. The company’s advantages include a vast network of company operated stores and independent dealers strong brand recognition and a broad suite of related products and services. Its insurance subsidiaries operate in niche markets offering tailored policies to U Haul customers and seniors.

The primary customers are do it yourself movers including individuals families college students and DIY enthusiasts who need to transport household goods. Self storage renters consist of households and businesses seeking secure space for personal or commercial items. Insurance products are sold to U Haul customers seeking damage waivers and to older adults looking for life medicare and annuity coverage.