On Nov. 1, General Casualty Insurance Companies assumed responsibility for Southern Guaranty Insurance Company’s insurance operations as part of Winterthur Insurance’s efforts to boost operational efficiencies within its U.S. companies, announced John Pollock, head of Winterthur North America.
Southern Guaranty, headquartered in Montgomery, Ala., writes property and casualty business in nine southeastern states. The company will retain its brand name and product portfolio and continue to write policies, process claims and manage its independent agency base out of its Montgomery and Greensboro, N.C., offices. General Casualty’s leadership team in Wisconsin will manage day-to-day insurance operations. Southern Guaranty Regional Vice President Roger Droste, formerly senior vice president of underwriting and marketing for the company, will report directly to Pete McPartland, president and chief operating officer of General Casualty.
“The partnership between Southern Guaranty and General Casualty provides a great opportunity for each organization to benefit from the other,” McPartland said. “General Casualty will lend its expertise in areas where Southern Guaranty lacked resources, and Southern Guaranty gives General Casualty a number of favorable markets with a successful and respected brand.”
Both General Casualty and Southern Guaranty are members of the Swiss-based Winterthur Insurance Group, which has made several other organizational changes as part of its efforts to become more efficient in its U.S. operations. The group also includes Unigard Insurance Company in Bellevue, Wash., and The Citadel in Toronto.
General Casualty expects to hit $1 billion in direct written premiums in December of this year. As a result of the addition of Southern Guaranty, the combined organization projects $1.225 billion in direct written premiums for year-end 2003. Together, the two companies market both personal and commercial insurance products in 26 states through more than 1,600 independent agencies.
General Casualty Insurance Companies, headquartered in Sun Prairie, has insured autos, homes and businesses since 1925. More than 10,000 independent insurance agents market General Casualty’s products in 17 states. General Casualty has built a reputation for exceptional claims service and financial strength, consistently earning high ratings from insurance analyst A.M. Best. General Casualty employs 1,650 people in six regional offices and reported direct written premiums exceeding $991 million in 2002.
Southern Guaranty, founded in 1952 and based in Montgomery, Ala., concentrates its operations on eight southern states and distributes its products through more than 600 insurance agents. Southern Guaranty is rated A- by A.M. Best. In addition to its headquarters, the company has another full-service office in Greensboro, N.C.
Both companies are members of the Swiss-based Winterthur Insurance, which is part of the Credit Suisse Group based in Zurich.
For more information please contact Anne M. Smith.