AssuranceAmerica Corporation, an Atlanta based insurance holding company with operations in the Southeastern & Southwestern United States, announced that AssuranceAmerica Insurance Company wrote its first auto insurance policy in the state of Arizona. While its insurance company or managing general agency (MGA) is licensed to write in 14 states, Arizona becomes the eighth state in which AssuranceAmerica actually conducts business. In announcing its newly initiated sales effort in Arizona, Lawrence (Bud) Stumbaugh, president and CEO of AssuranceAmerica Corporation, the parent holding company of its insurance carrier and MGA, said "Arizona is attractive because it is the seventh fastest growing state in the nation and a top market for nonstandard auto insurance. According to National Auto Insurance Report, Arizona has a history of ten consecutive years of generating profits in personal lines auto insurance with average underwriting profits exceeding 10% the past 3 reported years. It is the 15th largest auto insurance market with over $3.4 billion in annual gross written premium. And, obviously, it also adds to our geographic diversity. We are happy to announce our first policy, and even more pleased that we actually added several policyholders in our first week of business in Arizona." AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Alabama, Florida, Georgia, South Carolina, Texas, Louisiana, Mississippi, and Arizona. Its principal operating subsidiaries are TrustWay Insurance Agencies, LLC ("Agency"), which sells personal automobile insurance policies through its 50 retail agencies, AssuranceAmerica Managing General Agency LLC ("MGA"), which markets the company's insurance products through over 1,800 participating independent agencies, and AssuranceAmerica Insurance Company.Tuesday, March 18, 2008
AssuranceAmerica Now Writes Auto in Arizona
AssuranceAmerica Corporation, an Atlanta based insurance holding company with operations in the Southeastern & Southwestern United States, announced that AssuranceAmerica Insurance Company wrote its first auto insurance policy in the state of Arizona. While its insurance company or managing general agency (MGA) is licensed to write in 14 states, Arizona becomes the eighth state in which AssuranceAmerica actually conducts business. In announcing its newly initiated sales effort in Arizona, Lawrence (Bud) Stumbaugh, president and CEO of AssuranceAmerica Corporation, the parent holding company of its insurance carrier and MGA, said "Arizona is attractive because it is the seventh fastest growing state in the nation and a top market for nonstandard auto insurance. According to National Auto Insurance Report, Arizona has a history of ten consecutive years of generating profits in personal lines auto insurance with average underwriting profits exceeding 10% the past 3 reported years. It is the 15th largest auto insurance market with over $3.4 billion in annual gross written premium. And, obviously, it also adds to our geographic diversity. We are happy to announce our first policy, and even more pleased that we actually added several policyholders in our first week of business in Arizona." AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Alabama, Florida, Georgia, South Carolina, Texas, Louisiana, Mississippi, and Arizona. Its principal operating subsidiaries are TrustWay Insurance Agencies, LLC ("Agency"), which sells personal automobile insurance policies through its 50 retail agencies, AssuranceAmerica Managing General Agency LLC ("MGA"), which markets the company's insurance products through over 1,800 participating independent agencies, and AssuranceAmerica Insurance Company.
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