State National Companies Announces New Program Services Clients

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- - State National Companies, Inc. (NASDAQ: SNC), a leading specialty provider of property and casualty insurance services, announced the addition of two significant clients in its Program Services business segment. These clients both bring existing books of business to State National, and combined, they produce approximately $200 million in annual premiums.

State National's Program Services business segment provides insurance fronting services that leverage the company's "A" (Excellent) A.M. Best rating, expansive licenses and reputation to provide access to the U.S. property and casualty insurance market in exchange for ceding fees.

These large programs are written through a program manager of a large national broker and a specialty managing general agent, both of which are well-established organizations that provide specialty insurance solutions in the U.S. These two new clients began writing premium with State National in the second quarter of 2017.

"We are pleased to announce the addition of these two new fronting programs. These significant accounts demonstrate the success of our enhanced business development efforts which have also contributed to the steady growth in our Program Services business. The strong performance of our sales team, State National's proven experience and established reputation in this market and the increased interest for fronting relationships in the industry continues to drive our success. We welcome these new programs to State National and look forward to continuing the positive momentum that we have established as the preferred conduit between the distribution of insurance risk and capital," commented Terry Ledbetter, Chairman and Chief Executive Officer, State National Companies.

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