  News & InfoDelos Insurance Company Signs Agreement With FirstComp; Delos Expands into Workers' Compensation NEW YORK--(BUSINESS WIRE)--Sept. 12, 2006--Program business insurer Delos Insurance Company announced today that it has entered into a program management agreement with FirstComp Underwriters Group, Inc. ("FirstComp"), making the Omaha-based monoline workers' compensation group the first addition to Delos's program portfolio after the completion of their acquisition by Lightyear Capital. "This agreement represents a strong pairing of mutual objectives, and we are thrilled to be working with Delos in the workers' compensation market," FirstComp CEO Luke Yeransian said. "We anticipate our partnership producing a long-term, prosperous relationship for both parties." Under the strategic partnership agreement, FirstComp will produce and administer a book of business written on Delos Insurance Company's paper estimated at $75 million in the 2006/2007 underwriting year. These risks are written through FirstComp's network of independent insurance agencies for small- to medium-size businesses primarily in rural and suburban towns of several states nationwide. "Our MGAs are true partners and we will continue to strengthen and expand our relationships with them," said Bill Davis, CEO of Delos Insurance. "FirstComp's expertise in workers' compensation has allowed them to experience a history of high growth and exceptional results under experienced management." "We are excited about adding workers' compensation to Delos's portfolio of program business," said Detlef Steiner, Chairman of Delos Insurance. "FirstComp's strategy of targeting a specific segment of workers' compensation business complements Delos's strategic business objectives. The addition of FirstComp enhances our mix of exposures and provides an opportunity for our company to enter into the worker's compensation sector," Steiner added. About FirstComp FirstComp Underwriters Group administers workers' compensation insurance coverage for more than 50,000 "main street" businesses through more than 5,200 independent insurance agencies nationwide. With headquarters in Omaha, NE and an East region office in Providence, RI, the company currently operates in 25 states. Visit www.firstcomp.com for more information. About Delos Insurance Delos Insurance Company is rated A-(Excellent) by A.M. Best Company with a stable outlook. Visit www.delosinsurance.com for more information. Contacts: Delos Insurance Company   |
