Biglari Holdings Inc. has acquired First Guard Insurance and its affiliate, 1st Guard Corporation.
First Guard Insurance Company is a direct underwriter of commercial trucking insurance, selling physical damage and nontrucking liability insurance to truckers. First Guard will continue to be operated by its current management team, led by Chief Executive Officer Edmund B. Campbell, III. The ownership change will not have an impact on day-to-day operations, and First Guard will remain headquartered in Venice, Florida, the company said.
Sardar Biglari, the chairman and CEO of Biglari Holdings, said, “The Campbell family has an extraordinary reputation with a remarkable record. Ed Campbell III is responsible for building a gem of a company, one with unparalleled operational efficiency, a low-cost operation that has benefited truckers as well as produced a profitable underwriting operation. I am thrilled to work with Ed, a key to our decision to purchase First Guard. Ed will continue to run the company in the future as he has in the past. First Guard is an ideal fit within Biglari Holdings' collection of businesses.”
Ed Campbell said, “I couldn't imagine a better, more fitting owner of First Guard. Sardar Biglari recognizes and appreciates our established, disciplined commitment to a profitable underwriting business. As part of Biglari Holdings, First Guard will have a strong parent company, enabling us to pursue our potential for growth. We are excited about joining Biglari Holdings' group of companies. This is great news for truckers.”
Learn more: http://www.1stguard.com/; http://www.biglariholdings.com/.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].