Twin City Fire Insurance Company
Twin City Fire Insurance Company
One Hartford Plaza T 16 85
Hartford CT 06155
Twin City Fire is a property and casualty insurance type of company that is a part of the Hartford Insurance Group. Originally, it is an insurance company that succeeded a company formed in 1910 in Minnesota, and began business in 1913. It provides a wide range of property and casualty insurance policies in the United States. About half of 2005 premiums that are direct where obtained from the compensation of workers, and 38% obtained from commercial automobile liability as well as other liability lines. 12.5% of direct 2005 premiums were obtained from New York, then California at 8.4%, Florida with 7.2%, and Texas at 6.0%.
It has assets up to $647,947,671, a capital of $4,200,000 as well as net surplus of $297,016, 621. It offers insurance policies such as those for automobiles, health, home, boat, airplane, and for business. Its president is Juan Carlos Andrade, John Nicholas Giamalis as its treasurer, and Donald Christian Hunt as its secretary.
Its parent company, Hartford Financial Services Group was part of the ITT Corporation, which is a global and diversified manufacturing corporate involved in global markets such as management of water and fluids, security and defense, and flow and motion control.
Its beginnings can be traced to a fire insurance company which is local, and that was established in 1810. Presently it is one of the largest insurance and investment companies which also has its offices in other parts of the globe such as United Kingdom, Japan, Brazil, Canada, and Ireland. It is a leading provider of life insurance, employee and group benefits, homeowners and automobile, as well as business insurance. Aside from that, it also delves on investment products such as mutual funds, annuities, and college savings or educational funds.
This parent company also serves millions of customers, and this includes individuals, establishments, and businesses through independent representatives and brokers, financial institutions, and through its online market.
Standard & Poor’s, which is a source of dredit rating, indices, data and risk evaluation, and investment research, has viewed the earnings of Hartford as very strong, and an upward trend. This is due to its leadership positions in different variable annuity, life insurance, and group disability segments of the market. Aside from that, it has a market position that is solid, and can be found in both personal and commercial lines businesses.
Its operating performance is also strong, and although the company’s development has been in thin-margin products that are variable, the insurer sustains a strong position. The reason for this is that it has an industry low annuity expense ratio, and managed overall level of assets.
AM Best, an organization which rates the financial strength of those involved in providing insurance for the people as well as companies has rated Twin City Fire Insurance with A+. This means that it has the superior capability to meet its financial obligations with its policyholders.
This rating is due to the announcement of Hartford Financial Services Group that it has filed a statement of registration with the Security and Exchange Commission for its first public offering of up to 20% of its life and health operations.