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CNA Surety Announces Investment in De Montfort Insurance CHICAGO, December 18, 2000 -- CNA Surety Corporation (NYSE:SUR) today announced that it has purchased an equity interest in De Montfort Insurance Company PLC, a United Kingdom-based insurance company, which specializes in providing surety bonds and credit insurance. Specific terms and details of the investment were not disclosed. The investment in De Montfort further supports CNA Surety’s international growth strategy by enhancing the company’s international distribution capabilities in the European surety marketplace. De Montfort Insurance is a market leader in the United Kingdom construction performance bond market with a strong customer base of small to mid-sized contractors and an underwriting philosophy closely aligned with CNA Surety’s. De Montfort’s gross written premiums for the year ended December 31, 1999 were the U. S. equivalent of approximately $12 million. "Our investment in De Montfort is consistent with our long-term strategic goal to develop surety business in the European marketplace," said Mark C. Vonnahme, CNA Surety’s president and chief executive officer. "De Montfort Insurance will enhance our ability to offer surety facilities to our multinational customers doing business in the United Kingdom and Ireland." CNA Surety Corporation is the largest publicly traded surety company in the country. Through its principal subsidiaries, Western Surety Company and Universal Surety of America, CNA Surety provides surety and fidelity bonds in all 50 states through a combined network of approximately 37,000 independent agencies. CNA is a registered service mark, trade name and domain name of CNA Financial Corporation (NYSE:CNA).
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