Prime Authorized to Write Surplus Lines in La., Texas

Prime Holdings Insurance Services Inc. announced that its subsidiary, Prime Insurance Company has received approval to write surplus lines business in Louisiana as of Jan. 24, 2007, and Texas effective Feb. 1.

Prime, organized and funded with a cash infusion of $16 million in May 2006, recently acquired The Prime Insurance Syndicate Inc. as a subsidiary bringing its total capital and surplus to over $34 million. Together Prime and The Prime Insurance Syndicate received an A. M. Best pooled rating of “B+.”

Prime provides excess and surplus lines property and casualty insurance options for general liability, multi-peril, commercial auto, garage services, health care services, professional liability insurance, and more. Prime provides solutions for non-standard, hard-to-place markets for commercial and selected personal lines providing multiple and mono-line options.

Prime Holdings is an insurance holding company for an integrated group of excess and surplus lines service organizations. These organizations offer underwriting, risk management and claims services to agents, brokers and insureds in 50 U. S. States, Canada, and the U.S. Virgin Islands and other territories worldwide. Founded in 1992, Prime Holdings maintains offices in Chicago and Salt Lake City.

Source: Prime Holdings