Tokio Marine HCC (TMHCC) remains the leading partner in the US Small Business Administration (SBA) Surety Bond Guarantee (SBG) Program, following a record-setting year for the program in 2024.
The surety bonds underwritten by TMHCC are issued through its subsidiaries: American Contractors Indemnity Company, domiciled in California; United States Surety Company, domiciled in Maryland; and U.S. Specialty Insurance Company, domiciled in Texas.
Collectively, these entities form the Tokio Marine HCC – Surety Group.
In 2024, the Surety Group contributed to the SBA’s bond guarantee program, which supports small businesses by enabling their participation in federal, state, local, and private construction projects.
TMHCC has been the largest participant in the SBA SBG Program for over 20 years. This program is central to the company’s mission of supporting small businesses, a segment it views as vital to the U.S. economy. Through its participation, the Surety Group has facilitated growth for thousands of small businesses nationwide.
Adam Pessin, president and CEO of the TMHCC– Surety Group, stated that small businesses embody the entrepreneurial spirit of the US and are integral to the company’s strategy.
"The SBA’s SBG Program, in partnership with our valued agents and brokers, is one of our many surety bond products we offer, from Commercial (License & Permit) to Contract, Court (Judicial and Probate), Large Commercial, Oil & Gas and Customs. We are proud of our leading position in the SBA SBG Program and our position as the leading partner on the Program for over two decades,” said Pessing.
According to Frank Mester, the executive vice president of Underwriting for the Surety Group, the role of small businesses in the US economy account for neary 50% of private-sector jobs.
"We appreciate the SBA SBG staff and our agency partners for their continued dedication to the development and expansion of small businesses throughout the US," said Mester.
TMHCC is part of Tokio Marine Group, a global company that operates offices in the US, Mexico, the UK, and Europe.
How do you think this partnership impacts small businesses? Share your thoughts in the comments.
