The U.S. Department of the Treasury has raised The Main Street America Group's NGMInsurance Co.'s single surety bond capacity threshold with limitsavailable up to $73.3 million. The Jacksonville, Fla.-based companyhas provided surety bond products to businesses and individualssince 1961 through its network of independent insurance agents.
|The Treasury Department's expansion of Main Street America'ssurety bond capacity reflects the super regional property &casualty insurance carrier's 2010 surplus growth of $78 million,increasing its total surplus to $770 million. Additionally, A.M.Best affirmed Main Street America's “A” (Excellent) financialstrength rating earlier this year and upgraded the company'sfinancial size category as a result of its surplus growth. A.M.Best also upgraded Main Street America's issuer credit ratings to“a+” from “a”.
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