International Fidelity Insurance Company Revenue and Competitors

IFIC is the largest independent, privately owned surety company in the industry. We are headquartered in Newark, NJ and hold the first surety license issued by the State of New Jersey. Founded in 1904 by the Singer Sewing Company, IFIC provided captive fidelity coverage for its international subsidiaries. Then, In 1964 IFIC became an independent writer of surety when a group of private investors made up of bail agents purchased the company. At that time the company's Treasury Listing was only $45,000 vs. today's $8.6 million. Over the years, the company has evolved from exclusively writing bail to becoming one of the most diversified surety operations in the business. In the late 1990's our Chairman, President and CEO, Fred Mitterhoff, made the strategic decision to write contract, commercial and subdivision as a traditional, field driven surety. Today, we operate in over 22 locations throughout the USA. Over half of our 175 employees work in our regional offices. In 2008, the company recorded revenues of $118 million. As a "generalist surety", our major lines of business are: contract, commercial, bail, customs and subdivision. Writings in each of these areas are spread throughout the USA. Dedicated to independent agencies specializing in surety, IFIC is both a field and underwriting driven organization. Our regional offices are empowered to make quick, informed decisions, supported by a strong staff of surety professionals. Our Home Office Underwriting Officers are deeply invested in growing long-term, profitable agency relationships.