Guarantee Insurance Company Borrows $8 Million - Acquisitions Likely

Guarantee Insurance Company Borrows $8 Million - Acquisitions Likely-Image by IceNineJon via Flickr

Guarantee Insurance Company, a workers’ compensation insurance specialist, announced today that it has closed on an $8.0 million equity infusion.

Steven M. Mariano, Chairman and Chief Executive Officer, said:  “This capital will be used to support our growth, expand into new geographic markets, and improve operations.  It is a testament to our management team and our operating strategy that we have received a capital infusion in this very difficult economic environment.”

Guarantee Insurance Company reported net premium written of $54.4 million for the nine months ended September 30, 2010, an increase of 36.8% compared to the same period in 2009.

Guarantee Insurance Company’s workers’ compensation combined ratio for the nine months ended September 30, 2010 was 84.8%, compared to 93.6% for the nine months ended September 30, 2009, a decrease of 8.8% percentage points.

Guarantee Insurance Company

Guarantee Insurance Company specializes in traditional and alternative market workers’ compensation insurance products.  Guarantee Insurance Company is licensed to write workers’ compensation insurance in 26 states and has affiliate relationships with other insurance companies to provide nationwide coverage.  For further information, please visit www.guaranteeins.com

Media Contact:
Diana Cruz
Guarantee Insurance Company
954-670-2900
dcruz@guaranteeins.com

CONTACT: Diana Cruz, Guarantee Insurance Company, +1-954-670-2900, dcruz@guaranteeins.com

Web Site: http://www.guaranteeins.com

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Filed under: Business

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