Wells Fargo purchases California Surety Company

Published by admin | Filed under Surety News

Wells Fargo’s insurance department, Wells Fargo Insurance Services, recently acquired Surety Bonds companies in the San Francisco Bay area, North Coast Surety Insurance Services and North Coast Surety Technologies which were both owned by Dixon Wright.

Wright’s company was in the business of helping contractors, public contractors, in obtaining surety bonds. These surety bonds are underwritten by insurance companies to guarantee that the project will be completed. These Surety Bonds are there as secruity for the contractor and for the individuals he hires.

The other portion of the acquisition was North Coast Surety Technologies which was started to take advantage of the Internet bid system, by accessing the bid information more quickly.