SUA Insurance Company Contracts with New Partner Agent Writing Trucking in the Southeastern Region
October 01 2007 - 2:03PM
PR Newswire (US)
CHICAGO, Oct. 1 /PRNewswire-FirstCall/ -- Specialty Underwriters'
Alliance, Inc. (NASDAQ:SUAI) today announced that the company has
entered into a new Partner Agent contract with First Light Program
Managers, Inc. ("First Light") to provide commercial general
liability and commercial automobile liability to selected classes
of the trucking industry in the southeastern region, mainly
Florida. First Light is headquartered in Dania, Florida, and its
management team has over fifteen years experience writing insurance
within the transportation industry. Courtney Smith, president and
chief executive officer of SUA stated, "First Light, our eighth
Partner Agent, represents a great opportunity to further expand our
transportation book of business. We look forward to a long-term
partnership with this very experienced agent." Anthony Johnson,
president of First Light stated, "We are excited to be working with
SUA Insurance Company as we believe that their business model fits
nicely with our philosophy on how to underwrite and grow profitable
specialty business. First Light's management team is comprised of
seasoned transportation specialists and our partnership with SUA
allows us to gain a greater presence in markets where we have
operated for many years." In conjunction with the Partner Agent
contract, First Light will purchase $1 million of Specialty
Underwriters' Alliance, Inc.'s Class B common stock. About
Specialty Underwriters' Alliance, Inc. Specialty Underwriters'
Alliance, Inc., through its subsidiary SUA Insurance Company, is a
specialty property and casualty insurance company providing
commercial insurance products through exclusive wholesale Partner
Agents that serve niche groups of insureds. These targeted
customers require highly specialized knowledge due to their unique
risk characteristics. Examples include tow trucks, professional
employer organizations, public entities, and contractors. SUA's
innovative approach provides products and claims handling, allowing
the Partner Agent to focus on distribution and customer
relationships. Safe Harbor Statement The Private Securities
Litigation Reform Act of 1995 provides a "safe harbor" for
forward-looking statements. This release or any other written or
oral statements made by or on behalf of the company may include
forward-looking statements that reflect the company's current views
with respect to future events and financial performance. All
statements other than statements of historical fact included in
this release are forward-looking statements. Forward-looking
statements can generally be identified by the use of
forward-looking terminology such as "may," "will," "plan,"
"expect," "intend," "estimate," "anticipate," "believe" or
"continue" or their negative or variations or similar terminology.
All forward-looking statements address matters that involve risks
and uncertainties. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements. We believe that these
factors include but are not limited to ineffectiveness or
obsolescence of our business strategy due to changes in current or
future market conditions; increased competition on the basis of
pricing, capacity, coverage terms or other factors; greater
frequency or severity of claims and loss activity, including as a
result of natural or man-made catastrophic events, than our
underwriting, reserving or investment practices anticipate based on
historical experience or industry data; the effects of acts of
terrorism or war; developments in the world's financial and capital
markets that adversely affect the performance of our investments;
changes in regulations or laws applicable to us, our subsidiaries,
brokers or customers; acceptance of our products and services,
including new products and services; changes in the availability,
cost or quality of reinsurance and failure of our reinsurers to pay
claims timely or at all; decreased demand for our insurance or
reinsurance products; loss of the services of any of our executive
officers or other key personnel; the effects of mergers,
acquisitions and divestitures; changes in rating agency policies or
practices; changes in legal theories of liability under our
insurance policies; changes in accounting policies or practices;
and changes in general economic conditions, including inflation and
other factors. Forward-looking statements speak only as of the date
on which they are made, and the company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise. To
learn more about Specialty Underwriters' Alliance Inc., please
visit http://www.suainsurance.com/. DATASOURCE: Specialty
Underwriters' Alliance, Inc. CONTACT: Leslie Loyet of Financial
Relations Board, +1-312-640-6672, , for Specialty Underwriters'
Alliance, Inc.; or Scott Goodreau of Specialty Underwriters'
Alliance, Inc., 1-888-782-4672, Web site:
http://www.suainsurance.com/
Copyright
Specialty Underwriters Alliance (NASDAQ:SUAI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Specialty Underwriters Alliance (NASDAQ:SUAI)
Historical Stock Chart
From Jul 2023 to Jul 2024