CALIBER ONE EXITING E&S SURPLUS LINES MARKETPLACE

PMA Capital has decided to withdraw from the excess and surplus (E&S) lines marketplace served by its Caliber One business segment, even though PMA Capital shows strong growth and operating income for PMA Re and the PMA Insurance Group. Caliber One’s decision to withdraw will impact approximately 110 employees, according to a PMA spokesman; about 10 percent of PMA Capital’s total employment base. Employees will continue with Caliber One while the company seeks options, including the possible sale of Caliber One to another buyer. In California, Caliber One wrote premium amounts on a gross written premium basis for full-year 2001 in the amount of $36,618,793, while on a gross premium written basis for Texas, the figures were approximately $13,257,637.

Topics Excess Surplus