Surety Bonds Company Merger

Published by admin | Filed under Bonds

Surety Company of the Pacific was recently acquired by HCC Insurance Holdings with its approval coming with the receipt of approval by the California Department of Insurance. The Surety Company of the Pacific is a bond company for contractors in California and is a writer of license and permit bonds. They are headquartered in Encino, California.

At this time, Surety Company of the Pacific will be merging with American Contractors Indemnity Company which happens to be a subsidiary of HCC Insurance Holdings. The expections of this merger is the addition of roughly $20 million premium to the HCC Surety Group in 2009. The HCC Group includes ACIC, Pioner General Insurance Company, US Surety Company and the surety division of US Specialty Insurace Company.