FOR IMMEDIATE RELEASE
First Guard Insurance Company Reaffirmed “A” Rating by A.M. Best
First Guard Insurance Company Reaffirmed “A” Rating by A.M. Best
Venice, Florida (September 17, 2015) - 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 truck 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. The outlook for the issuer credit rating (ICR) is positive due to expectations that strong underwriting results will continue for the near term.
First Guard Insurance Company entered the direct writing market
focusing solely on underwriting truck physical damage insurance in 2003 after
being a reinsurer for many years. . In 2010, First Guard added non-trucking
liability insurance to their portfolio of underwriting expertise. As a direct writer, First Guard does not use
agents to place business but rather goes direct to the trucker. “It's more than a re-affirmation of our A rating. It's a
reaffirmation of our low cost structure, direct writing business model and
technology,” stated Edmund B. Campbell II, CEO of First Guard
Insurance Company. “More and more insurance
consumers are asking, why do I need an insurance agent?”
While First Guard is limited to a specific niche within commercial
automobile insurance, their dedication and focus on this niche have generated
positive results over the years. This year’s A (Excellent) rating marks First
Guard’s eleventh (11th) consecutive year for maintaining this
rating. For the latest ratings, visit www.ambest.com.
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