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
|Guarantee Insurance Company|
CONTACT: Diana Cruz, Guarantee Insurance Company, +1-954-670-2900, firstname.lastname@example.org
Web Site: http://www.guaranteeins.com
Tagged with: Affordable Care Act • Business • Financial Services • Guarantee Insurance Company Borrows $8 Million - Acquisitions Likely • Health care • Health insurance • Insurance • United States • Workers' compensation
Filed under: Business