arrow_down.jpg









SUBMIT arrow_up.jpg
arrow_down.jpg




SUBMIT arrow_up.jpg

Reinsurance Placed for First Surety

U.S. RE recently placed reinsurance for First Surety Corporation of Charleston, West Virginia, Paul Dzielisnki, U.S. RE Senior Vice President, reported. First Surety Corporation specializes in providing reclamation surety bonds to regulated energy companies in the coal, natural gas, and oil industries. The reinsurance provides First Surety with Per-Bond protection as opposed to the Per-Principal protection that most other sureties buy. In order to obtain permits, coal mining companies are required by federal and/or state governments to provide surety bonds, letters of credit, or cash to cover reclamation of land from closed mines. The coverage was placed with Lloyd’s syndicates and Bermudian reinsurers. Dzielinski worked on the project with John Jacobs, Chairman of Jacobs Financial Group, Inc., parent of First Surety, and Keith Hodgett of London broker Besso Re, Ltd.