Venice, FL – October 6, 2008 – First Guard Insurance Company, a specialty truck physical damage insurer for long haul truckers, announced record results for the third quarter ending September 30, 2008. Earnings exceeded last year’s record 3rd quarter by over 10%.
Ed Campbell, III, First Guard’s chairman said, “We continue to refine our underwriting and data mining techniques to good effect. We’re now achieving these outstanding underwriting results while concurrently leading the way in offering competitive insurance rates to truckers. Our direct writing formula has given us a tremendous cost and logistical advantage.”
“The trucking industry of course continues to face very challenging times as does the entire economy,” Campbell added. ‘While we have always emphasized underwriting profitability over growth, our investments in marketing and brand development have positioned us for expansion as well, particularly when the freight environment for truckers improves.”
On a related note, Campbell mentioned that First Guard Insurance Company has never owned any mortgaged backed securities and that its investment portfolio consists entirely of AAA and AA rated bonds.
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