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Surety Bonding, the Ever Changing Players
Last updated on Wednesday, May 15th, 2013 2 Comments
I recently celebrated (or cursed depending on the day) my 26th year as a surety bond professional. While taking a little walk down memory lane, (meaning looking through some old boxes) I came across some old Surety Association of America surety results In 199o the top 10 writers of surety bonds in the U.S. were:
F&D Group (now part of Zurich)
USF&G (Purchased by St. Paul)
Reliance (Purchased by Travelers)
Aetna (Now part of Travelers)
Fireman’s Fund (Out of the Surety Business)
Seaboard Surety (Purchased by St. Paul)
Continental (Purchased by CNA)
CNA
Safeco (Purchased by Liberty)
Hartford
Out of the top 10 surety bond companies of 1990, Only 2 are still in business, CNA and Hartford (All though Zurich basically kept the F&D operation in tact)
By 2000, the top 10 players were:
Travelers
St Paul (purchased by Travelers)
CNA
Zurich
AIG
Liberty
Ace
Safeco (now part of Liberty)
Chubb
Fireman’s Fund (now out of surety)
Not many changes on the surface, however #11 &12, Amwest and Kemper, both went out of business.
By 2010, the Top 10 players were:
Travelers
Liberty
Zurich
CNA
Chubb
Hartford
HCC
IFIC
NAS
ACE
I can’t wait to see who will be on the top 10 list by 2020; I know sure it will be different surety companies than 2010.
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I joined the F&D in 1959. The last surety company I worked for was Amwest. What difference! If I have an afterlife, it won’t be in surety.
Thanks for Reading our Blog. Its an ever changing surety world out there.