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.
US Cyber Insurance Market Sees Flat Premium, More Third-Party Claims Hit Loss Ratio 
The Fidelis Partnership Launches US SME Casualty Reinsurance MGA 
Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling 
Tech and Finance Sectors Losing 28,000 Jobs Monthly Show AI Impact on Labor 
