Venice, Florida (October 21, 2011) – Specialty truck insurer First Guard Insurance Company announced today that A.M. Best Company (Oldwick, NJ) has affirmed its financial strength rating of A (Excellent) with a stable rating outlook. Since 2004, First Guard Insurance Company has maintained the rating of A (Excellent). For the latest ratings, visit http://www.ambest.com/.
The “A” (Excellent) rating of First Guard reflect its solid capitalization, balance sheet liquidity, history of excellent underwriting and operating profitability. First Guard’s expertise in the trucking physical damage market for leased owner operators coupled with prudent underwriting standards and conservative operating strategy continue to play a strong role in their long-term profitability and stability.
While the first half of 2011 proved challenging in regards to higher than expected claims losses due to storm/weather related activity the rigid underwriting and pricing discipline at First Guard continues to produce favorable results in comparison to competition.
“We are very pleased that AM Best has once again affirmed our "A" rating,” stated Ed Campbell III, Chairman of First Guard Insurance Company. “The significant investments that First Guard continues to make in underwriting, marketing and automation processes are clearly paying dividends. Notwithstanding the challenging economy our surplus stands at an all time high.”
