HOUSTON, TEXAS.—September 23, 2002—SureTec Insurance Company today announced
that A.M. Best Company, the number one ranked insurance rating agency, has
assigned SureTec an A- (Excellent) rating.
In support of its rating rationale, A.M. Best reported, "The rating is based
on the company’s modest underwriting leverage and the future benefits to be
derived from management’s proven track record, established producer/agency
relationships and local underwriting expertise within the Texas contract surety
market."
Best's Ratings are derived from a detailed analysis of a company's financial
strength, operating performance and market profile.
John Knox, Jr., CEO stated, "We are proud of the success of SureTec. This
rating is a reflection of the superior team that we are building. Our producers
and contractors now have confirmation that our financial strength, performance,
and future prospects have been recognized by the industry’s premier rating
agency."
SureTec Insurance Company, a Texas domiciled insurance company, is a
subsidiary of SureTec Financial Corp. SureTec underwrites performance and
payment bonds which assure the performance of contractors and subcontractors on
construction projects. SureTec delivers its products and services through
independent agents and professional surety bond producers. Please visit our
website: www.suretec.com for information
on the Company.
For more information, please contact:
John Knox, Jr.
SureTec Insurance Company
(713) 812-0800
jknox@suretec.com
