Demand for surety bonds in the United States continues to rise, especially for performance bonds, which has led to consistent top-line premium growth for this high-performing segment of the insurance industry, according to a new AM Best report.
Tag: surety bonds
AmTrust Acquires Surety MGA CMGIA
AmTrust Financial Services, Inc. has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA).
Old Republic Surety Says Surety Business ‘Must Lead in Recovery, Infrastructure and Expansion’
Surety carriers and professional bond producers must step up to lead as growing employment fuels economic expansion and the federal government increases spending, says Alan P. Pavlic, president and chief operating officer of Old Republic Surety Co., the nationwide surety carrier that is part of Old Republic International Corp. “The right underwriting, the right product,… Continue reading Old Republic Surety Says Surety Business ‘Must Lead in Recovery, Infrastructure and Expansion’
Liberty Mutual Surety Approved to Participate In Surety Bond Guarantee Preferred Program
Liberty Mutual Surety, the second largest surety in the U.S. and a leading writer globally, has been approved by the U.S. Small Business Administration to participate in the Surety Bond Guarantee (SBG) Preferred Program through two entities: Liberty Mutual Insurance Company and The Ohio Casualty Insurance Company. The SBG Preferred Program provides surety bond guarantees… Continue reading Liberty Mutual Surety Approved to Participate In Surety Bond Guarantee Preferred Program
Tokio Marine HCC Expands International Surety Operations with Newly-Formed Mexican Subsidiary
Tokio Marine HCC announced the formation of Tokio Marine HCC Mexico Compania Afianzadora, S.A. de C.V. (“TMHCC Mexico”). The newly-formed entity provides surety bonds to Mexican-domiciled organizations and enables Tokio Marine HCC – Surety Group to produce business for customers in the United States, Japan, Europe and other countries worldwide with surety needs in Mexico.… Continue reading Tokio Marine HCC Expands International Surety Operations with Newly-Formed Mexican Subsidiary
Liberty Mutual Completes Acquisition of the U.S. Surety Operations of AmTrust Financial Services
Liberty Mutual Insurance announced the completion of the acquisition of the business and operations of AmTrust Surety, the U.S. surety operations of AmTrust Financial Services, Inc., following satisfaction of customary closing conditions. The AmTrust Insurance Spain, Nationale Borg, and Nationale Borg Reinsurance portion of the acquisition is expected to close in the second half of… Continue reading Liberty Mutual Completes Acquisition of the U.S. Surety Operations of AmTrust Financial Services
Arthur J. Gallagher & Co. Acquires Surety Solutions
Arthur J. Gallagher & Co. announced the acquisition of Salem, Oregon-based Surety Solutions LLC and Agency Multiplied Inc. Terms of the transaction were not disclosed. Surety Solutions is a surety-focused agency that specializes in offering surety bonds for mortgage brokers, artisan contractors and other industries across the United States. Agency Multiplied developed the bond processing… Continue reading Arthur J. Gallagher & Co. Acquires Surety Solutions
AAU Announces Launch of Surety Bonds Division and Hire of Bredow
AAU, a division of USG Insurance Services, Inc., is pleased to announce the launch of its Surety Bonds Division and the hire of Rick Bredow as Producer/Broker: Commercial Surety in USG’s Philadelphia, PA satellite office. The goal of the Surety Bonds Division is to be a full service bond provider, initially servicing License & Permit… Continue reading AAU Announces Launch of Surety Bonds Division and Hire of Bredow
Insurance Costs Could Cut Ben Affleck as Batman
Ben Affleck’s brief tenure as Batman could come to an end because of high post-rehab insurance costs, TheWrap reports, citing industry experts. The Justice League star re-entered rehab earlier this week at the urging of ex-wife Jennifer Garner after Affleck was pictured receiving a box full of beer and liquor. According to TMZ, insiders say… Continue reading Insurance Costs Could Cut Ben Affleck as Batman