|[December 27, 2012]
CNA Announces Sale of Surety Company & Agency to California Contractors Insurance Services
CHICAGO --(Business Wire)--
CNA Financial Corporation (NYSE: CNA) today announced that it has
completed the sale of SUR Insurance Agency, Inc. (SUR) and The Bond
Exchange (TBE) to California Contractors Insurance Services (CCIS)
effective December 14, 2012.
"The Bond Exchange has been a successful operation of CNA for many
years, and their unique approach, reputation, and success in the surety
marketplace compliments CCIS's excellent reputation," said John Welch,
President - CNA Surety. "TBE remains a key producer for CNA, and we
expect to continue our long-standing relationship for years to come."
Western Surety, a wholly owned subsidiary of CNA and seller of SUR
Insurance Agency, will retain certain of the business lines that were
previously sourced from SUR. This business will be seamlessly
transitioned to CNA Solutions, an insurance agency and wholly owned
subsidiary of CNA. CNA will continue to offer CNA Solutions as an
alternative for placing business for agents and brokers who lack
specific state licenses.
Based in Sacramento, California Contractors (www.ccisbonds.com)
has been assisting licensed contractors with their bond and insurance
requirements since 1968.
Serving businesses and professionals since 1897, CNA is the country's
seventh largest commercial insurance writer and the 13th
largest property and casualty company. CNA's insurance products include
standard commercial lines, specialty lines, surety, marine and other
property and casualty coverages. CNA's services include risk management,
information services, underwriting, risk control and claims
administration. For more information, please visit CNA at www.cna.com.
"CNA" is a service mark registered by CNA Financial Corporation with
the United States Patent and Trademark Office. Certain CNA Financial
Corporation subsidiaries use the "CNA" service mark in connection with
insurance underwriting and claims activities.
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