We lost money. So was born Reliant Insurance Co., based in Cleveland. If we make a mistake, a substantive mistake, we change and move on. The company started on a limited basis, involving itself principally in excess and surplus lines and directors and officers liability. We know it's very cyclical.
Nonstandard auto includes coverage for higher-risk drivers and unusual vehicles.
Today, Reliance National writes the gamut in commercial business insurance. While the company still offers excess and surplus, and directors and officers coverage, it is less aggressive in these categories because of fiercer competition. Instead, it has become more active in large risk-management business, notably ocean marine, construction, international construction, transportation and aviation, for Fortune 1,000 companies. Since then, the U.K. operation has grown, with a half dozen satellite offices on the European continent and expansion into South Africa. Reliance National also has established a company in Singapore, is negotiating a deal on a joint venture in Hong Kong, and plans another joint venture with a Chinese insurance company owned by 65 of the largest industrial organizations in China.