WASHINGTON, D.C. — Ullico Inc. announced today that its subsidiary Ullico Casualty Group, Inc. (UCG), has entered into long-term agreements with Alterra America Insurance Company (Alterra America), a subsidiary of Alterra Capital Holdings Limited, that will allow UCG to continue to provide competitive multiemployer and government fiduciary liability and union liability insurance at affordable premiums.
“The new partnership with Alterra America is the fulfillment of a promise made to our stakeholders to return Ullico to its core mission of serving the union market place,” said Edward M. Smith, president and CEO of Ullico Inc. “We are grateful for the loyalty of our policyholders and brokers, and for the hard work and dedication of our employees.”
Beginning January 1, 2013, UCG will offer new and renewal fiduciary and union liability insurance policies with Alterra America, which has a financial strength rating (FSR) of A XV (Excellent) by A.M. Best Company (rating as of Sept. 30, 2012). UCG claims professionals and underwriters will work with its producers to ensure a seamless transition to Alterra.
Alterra Capital Holdings Limited is a global enterprise dedicated to providing diversified specialty insurance and reinsurance products to corporations, public entities and property and casualty insurers.
For over 25 years, Ullico has provided a comprehensive portfolio of property and casualty insurance products designed to protect and grow the labor movement. Ullico Casualty Group, Inc. is a member of the Ullico family of companies, which includes The Union Labor Life Insurance Company; Ullico Casualty Company; Ullico Investment Company, Inc.; and Ullico Investment Advisors, Inc.
For 85 years, Ullico has been a proud partner of the labor movement, keeping union families safe and secure. From insurance products that protect union members and leaders, to investments in building projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees, businesses and investments. For additional information, visit www.ullico.com.
For more information, contact:
Ben C. Hardaway
Senior Media Relations Manager