TITLE

Bond Firm Profits Are Rising Fast as Sureties Climb Out of the Hole

PUB. DATE
January 2007
SOURCE
ENR: Engineering News-Record;1/29/2007, Vol. 258 Issue 4, p33
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article deals with the economic recovery of surety bond underwriters in 2007. Through four years of industry losses--pinned on them by overstretched or incompetent contractors--sureties have observed an iron discipline in order to return to profitability. According to the Surety & Fidelity Association of America, Travelers Bond wrote surety premiums of all kinds totalling about $885 million in 2005, most of it contract surety. Contractors work more closely with sureties than with their banks.
ACCESSION #
23978310

 

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