On Dec. 9 General Casualty Insurance Companies reached $1 billion in direct written premiums. The company is currently ranked among the top 70 U.S. property and casualty insurers, according to A.M. Best’s Key Rating Guide.
"We are pleased to have achieved this industry milestone, as it demonstrates our ability to provide our policyholders with the insurance coverages they need,” said Pete McPartland, president and chief operating officer. “I am also proud that General Casualty has not strayed from what we do best. We remain an agency-focused company with broad underwriting capabilities and a regional office structure that allows underwriters and claims adjusters to locally serve our agents and policyholders."
From a historical perspective, the milestone represents premium volume seven times greater than when the company moved to its current headquarters in 1982. At that time it employed 540 people and wrote $141 million in direct written premiums. Since then the company has added two buildings to its headquarters, tripled its employees, expanded its operating territory, and introduced many new products and services.
With the integration of Southern Guaranty Insurance Companies (based in Montgomery, Ala.), which was announced last month, General Casualty projects total written premiums of $1.225 billion for both companies in 2003.
For more information please contact Anne M. Smith.