Worldwide Insurance Company
Worldwide Insurance Company
11975 Westline Industrial Drive
Saint Louis, MO 63146
Worldwide Insurance Company is a property and casualty insurer based in Missouri. In 1979, it was incorporated in the state of Wisconsin as Wausau Insurance Company B, and by 1980, its name was changed to Providian Auto and Home Insurance Company. It was in 1998 when it once again changed to its present name. In April 1999, this insurance company was acquired by Great American Insurance Group. Capitol Holding Corporation, which is now known as the Commonwealth General Corporation. This was the company responsible for buying all of the related physical assets as well as shares of Worldwide Insurance Company from Wausau Service Corporation. It has been a wholly-owned subsidiary of Commonwealth General.
Worldwide Insurance owns 100% of Worldwide Direct Auto Insurance Company, which, on the other hand, also owns 100% of Worldwide Casualty Insurance Company. Both of these companies were provided by Commonwealth General on December 1986. On 1991, The Missouri Department of Insurance also issued Worldwide Insurance Company’s Certificate of Authority as a Missouri Insurance Corporation. This completed the re-domestication of Worldwide Insurance Company from Wisconsin to Missouri
Worldwide Insurance Company bought 100% of the common stock of the Academy Insurance Group and its subsidiaries (this included the Academy Life Insurance Company and Pension Life Insurance Company of America) on January 1993. A certificate of Authority was issued for Worldwide Insurance Company in the state of North Carolina on November 1994. Immediately at the break of dawn of January 1995, Worldwide Underwriters Insurance Company of North Carolina was incorporated into Worldwide Insurance Company.
Since December of 1997, this insurance company is licensed to create different lines of property and casualty types of insurance in forty states, including the District of Columbia. However it is not permitted to do business on states such as New Hampshire, Connecticut, Illinois, Hawaii, Massachusetts, Maine, Rhode Island, Texas, New Jersey, and Wyoming.
In the Colorado state, Worldwide Insurance Company sells insurance for private passenger automobile. According to the National Association of Insurance Commissioners (NAIC), this insurance company reported $4, 254,000 in total written premiums. This represented a market share of 0.21% out of all the insurance for private passenger automobiles within the said state.
Presently, Worldwide Insurance Company is part of the Great American s Insurance Group, which enables people and businesses to handle risks in terms of finances. It also offers insurance products and service created to the meet the specific needs, and constantly-changing financial risk exposures that its customers face. It establishes values for its investors through the strength of the satisfaction of its customers, and through regularly producing top-of-the-line operating results.
This mother company has acquired Worldwide Insurance Company has maintained a financial strength rating of A, according to A.M Best. This means the Great American Insurance Group has the excellent capability to meet its financial obligation to its clients.
To date, this insurance company isn’t afraid of branching out in various areas. It is now the largest writer of horse farm insurance, the third largest insurer for crops, and also one of the largest writers of insurance for office equipment.