Venice, Florida (September 19, 2013) – 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.
The “A” (Excellent) rating of First
Guard reflect its solid risk-adjusted capitalization and balance sheet
liquidity as well as history of excellent underwriting and operating
profitability. First Guard’s expertise in the trucking physical damage and
non-trucking liability market for leased owner-operators coupled with prudent
underwriting standards, immediate attention to operational issues and a conservative
operating strategy continues to play a strong role in long-term profitability and
stability.
In 1997, First Guard Insurance Company
initially wrote business as a reinsurer but by 2003, it entered the direct
writing market focusing solely on underwriting truck physical damage insurance.
Recently in 2010, First Guard added non-trucking liability insurance to their
portfolio of underwriting expertise.
“Having our A rating affirmed by AM Best
further validates our direct writing approach to the truck insurance business,”
stated Edmund B. Campbell III, Chairman of First Guard Insurance Company. “As
we see it, First Guard's ability to gain profitable market share faces few
hurdles as long as our fellow truck underwriters remain beholdened to their
expensive and increasingly irrelevant agent forces. No one's wising up, so the
future looks very bright for us,” added Campbell.
Since 2004, First Guard Insurance
Company has maintained the rating of A (Excellent). For the latest ratings,
visit www.ambest.com.
