State National Companies announced the formation of a new affiliate, United Specialty Insurance Company (USIC). The company will exclusively service the surplus lines market.
The company began operation in March following admission to the state of Delaware.
United Specialty said it will carry the ‘A’ (Excellent) A.M. Best rating of the group once regulators approve a pooling agreement with State National Insurance Company and National Specialty Insurance Company.
State National Companies is a privately held group of insurance companies and agencies. Affiliates include two companies rated ‘A’ (Excellent) by A.M. Best. A third affiliate is Texas-based State & County Mutual Fire Insurance Company. The company has its headquarters in Fort Worth, Texas.
Source: State National
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