ST. PAUL FORMS NEW GROUP

The St. Paul Companies announced the formation of the Global Surety and Construction Group. According to the group’s newly appointed President Robert J. Lamendola, the formation of the Global Surety and Construction Group reflects strong growth in The St. Paul’s construction insurance business and the continuing global expansion of the company’s surety operations. The St. Paul’s Surety business now includes operations in 10 countries and affiliations with numerous insurance partners worldwide. The St. Paul’s surety business totaled $426 million in annual net written premiums in 2000, accounting for 7 percent of the company’s total net written premiums, up 8 percent over 1999. The St. Paul’s construction business totaled $488 million in annual net written premiums in 2000, up 10 percent over 1999.

Topics Construction