Our U.S. Surety Group has again been recognized by the U.S. Small Business Administration (SBA) as the largest participant in the SBA’s Surety Bond Guarantee Program. The SBA Surety Bond Program, with the assistance of sureties and agents and brokers, assists small, disadvantaged and minority companies obtain surety bonds in connection with public and private contracts. In fiscal year 2021, the SBA reports that it guaranteed bid and final bonds totaling more than $6.8 billion in overall contract value, with more than 1,600 small business that were assisted and over 34,000 jobs that were supported.
We have been the largest SBA Bond Guaranteed Program participant for over 20 years and are proud to continue to lead the nation when it comes to doing good for small contractors, including many minority-owned organizations, while building Tokio Marine HCC’s franchise value in the U.S. surety market. The SBA’s top-performing surety partners for FY 2021 are (our entities are bolded):
- American Contractors Indemnity Company, California
- United States Fire Insurance Company, Pennsylvania
- Travelers Casualty & Surety Company, Connecticut
- U. S. Specialty Insurance Company (USSIC), California
- Markel Insurance Company, Texas
- West Bend Mutual Insurance Company, Wisconsin
- United States Surety Company, Maryland
- The Ohio Casualty Insurance Company, Pennsylvania
- Contractors Bonding and Insurance Company, Washington
- Western National Mutual Insurance Company, Arizona
Congratulations to these teams for this outstanding recognition and for being a shining example of how we continue to operate in the benefit of customers, business partners and society.
For more information, please visit the U.S. Small Business Administration website.