Amwest Insurance Group has agreed with its reinsurers to provide multi-year quota share reinsurance covering all inforce surety bonds at Dec. 31, 2000, and for prospective surety business.
The agreement is subject to approval by the Nebraska Department of Insurance. Charles L. Schultz, interim chief executive officer, said the company believes the reinsurance program will more properly reflect the operations of the restructured company.
“We will immediately seek regulatory approval from the Nebraska Department of Insurance and, while no assurances can be given, we believe this reinsurance program will be viewed favorably by the regulators and other important constituencies such as A.M. Best Company,” he said.
Topics Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
Experian Launches Insurance Marketplace App on ChatGPT 
‘Structural Shift’ Occurring in California Surplus Lines 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
The $10 Trillion Fight: Modeling a US-China War Over Taiwan 
