Zurich's Fidelity and Deposit Completes Mountbatten Acquisition

The Fidelity and Deposit Company of Maryland (F&D) completed its acquisition of Mountbatten, Inc. having received regulatory approval from the Pennsylvania Insurance Department. F&D is a member of the Zurich Group and one of the nation's leading writers of surety bonds. F&D says it will operate Bala Cynwyd, PA-based Mountbatten autonomously and retain its management team.

Mountbatten is a specialty niche provider of surety services to small-to-mid-size contractors and sub-contractors engaged in construction. The company says the acquisition will allow Mountbatten to expand its market to all 50 states, using additional competitive tools. Plus, it says, the deal gives F&D a way to penetrate the small contract surety market and retain such accounts as successful contractors' bond requirements increase.

F&D has 32 offices throughout the U.S. and operates through 5,200 independent insurance agents and brokers.