Atlantic Specialty Insurance Company
Company Type: Property & Casualty
Insurance Carriers and Related Activities. Finance and Insurance Property damage insurance. Fire, marine and casualty insurance and carriers
About Atlantic Specialty Insurance Company
Atlantic Specialty Insurance Company is located in Plymouth, MN, United States and is part of the Insurance Carriers Industry. There are 212 companies in the ASIC corporate family.
History of Atlantic Specialty Insurance Company
The Company was originally formed in 1986 as Atlantic Reinsurance Company. This was under the laws of the State of New York.
Atlantic Mutual Insurance Company organized the company as a subsidiary. Atlantic Reinsurance Company ceased operations in 1993. It changed its name to Atlantic Specialty Insurance Company in 1995. This effectively ended the original reinsurance business. ASIC is a subsidiary to One Beacon Insurance Group since 2004.
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Main Lines of Business
The Company’s insurance underwriting follows the following four lines of business:
- commercial multi-peril (the maritime line), 56.7%
- commercial auto liability, 13%
- auto-physical damage, 13.7%
- Private passenger auto liability, 10%
Data are representative of historical operations for one year.
The company also offers fire and other casualty coverage as part of the rest of its services.
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Operation of Asic Insurance via Regional Offices
Each line of business is divided into several territories by the company. Each of the regional office and its branch offices underwrite policies and settle claims within its territory. It has a total of about 1,000 agents and 200 brokers. Licenses are held in 38 states and District of Columbia.
ASIC, a fire & casualty insurer company, has assets of 66.158.315, capital $9,000,000, and net surplus $40,986,747.
T Michael miller is the C.E.O & the president of ASIC. The insurance plans offered by the Company include
Airplane, auto, boat and prepaid legal.
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