Amwest Surety Insolvent

Lancaster District Court Judge John A. Colborn entered an order for the liquidation of Amwest Surety Insurance Company, a Nebraska-domiciled insurer based in Calabasas, Calif. The order was entered June 7 after Nebraska Director of Insurance, L. Tim Wagner, found Amwest to be insolvent. Amwest specialized in underwriting various types of bonds, including bail and contracting. Approximately 40,000 bonds, exclusive of bail bonds, are in the process of being terminated in accordance with Nebraska statutes. Amwest’s remaining bail bonds business will likely be transferred to Amwest subsidiary, Far West Insurance Company. Wagner, as liquidator, expects to offer Far West for sale.