Wilmington Insurance Company, the only wholly owned minority property and casualty insurer in the U.S., announced it has entered into an agreement with Zurich U.S.
The agreement will provide rail insurance buyers, including rail contractors, suppliers, and service companies, the opportunity to allocate a portion of their property and casualty premium towards satisfying federal, state and/or local government mandated requirements for conducting business with minority owned firms. The agreement will also assist rail insurance buyers in meeting their own internal requirements.
Wilmington’s CEO, Jose del Valle said the agreement is in direct response to government and industry initiatives to foster private sector business-to-business relationships that enhance the economic vitality and competitiveness of small, disadvantaged businesses.
“By partnering with Zurich U.S. we are able to provide another vehicle for the railroads to fulfill their federal and state minority-owned business obligations, as well as offering customers significant risk transfer, risk financing and innovative risk management services that Zurich U.S. has traditionally brought to the rail marketplace,” he said.
Topics USA Mergers & Acquisitions
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