American Surety Company

What American Surety Company does

American Surety Company (ASC) is a privately held Property & Casualty insurance company founded in 1993 and headquartered in Indianapolis, Indiana. The company specializes in underwriting surety bail bonds and commercial surety bonds, operating exclusively through a network of more than 2,300 independent licensed bail bond agents appointed across all 50 states and the District of Columbia. Its sister company, Underwriters Surety, Inc. (USI), functions as a National General Agency that contracts larger bail agencies through Indiana Lumbermens Mutual Insurance Company; ASC and USI share staff and operations.

ASC's core technology consists of agent-facing portal infrastructure, including secure login accounts, monthly BUF (Build-Up Fund) statements, execution and transfer bond reporting, federal/rewrite report submission, and electronic data import capabilities. The company has embraced the e-bail (electronic bail bonds) trend in jurisdictions like Texas and Georgia. Revenue is generated primarily through bail bond premiums collected on surety guarantees written by appointed agents, with bonds potentially remaining in force for three years or more on a single premium that can be as low as $100 for longer-duration cases. ASC's go-to-market is agent-centric: agents apply via an onboarding portal, are vetted, and receive 24/7/365 underwriting support, direct bail contracts, competitive rates, and hassle-free large bond approvals.

In 2024, ASC was acquired by Core Specialty, providing strengthened financial backing while the company retained its brand, leadership, and operating model. CEO Bill Carmichael also serves as Chair of the American Bail Coalition, reflecting ASC's active role in industry advocacy against bail reform legislation. The company publishes blog content authored by EVP Michael J. Whitlock covering legislative and judicial developments across all 50 states.

Name

American Surety Company

Legal name

American Surety Company

Website

https://asc-usi.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

American Surety Company is a privately held Property & Casualty insurer specializing in surety bail bonds, underwriting exclusively through a network of 2,300+ independent licensed agents across all 50 states plus DC, with sister company Underwriters Surety, Inc. Since 2024, ASC has operated as a subsidiary of Core Specialty.

Ownership category

akta.pro rank

Product category

Bail Bond Insurance

NAICS

Finance and Insurance (52)

SIC

Surety Insurance (6351)

akta.pro primary industry

Notary / Bail / Miscellaneous Consumer Bonds (FSAJAIAK)

akta.pro secondary industry

Commercial Surety Bonds (FSAJAIAB)

Keywords

• Bail bond insurance
• Surety bond services
• Commercial surety bonds
• Property casualty insurance
• Bail surety underwriting

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Bail Bond Premiums: American Surety Company generates revenue through premiums collected on bail bonds written by independent licensed bail bond agents. The company acts as the surety (guarantor) and collects premium income from bail bond transactions. Bail bonds can remain in force for extended periods (three years or more) for a single premium, sometimes as low as $100 premium for longer-term cases.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

American Surety Company is a Property & Casualty insurance company that specializes in writing bail bonds through a network of independent licensed bail bond agents across all 50 states and the District of Columbia. The company acts as the surety (guarantor) for bail bonds, collecting premiums to guarantee defendant appearance in court. It also writes commercial surety bonds as part of its broader P&C insurance offerings.

Product overview

American Surety Company is a Property & Casualty insurance company specializing in the writing of bail bonds through independent licensed bail bond agents. The company operates alongside its sister company Underwriters Surety, Inc. (USI), which serves as a National General Agency managing bail agents across the country. Together with USI, the company provides bail bond insurance services and commercial surety bonds, with more than 2,300 appointed agents operating nationwide. The company was acquired by Core Specialty in 2024.

Differentiator

Problem solved

Functional benefit

Products and services

• Bail Bonds Surety bail bond insurance products that guarantee the appearance of defendants in court, written through a network of independent licensed bail bond agents across all 50 states. Designed for licensed bail bond agents who need surety capacity and 24/7 underwriting support.
• Commercial Surety Bonds Surety bond products for commercial purposes, offered alongside bail bonds as part of the company's Property & Casualty insurance offerings. Marketed to businesses requiring commercial surety backing.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and major.

• Indiana Lumbermens Mutual Insurance CompanycoreStrategic or Co-development Partner · 1 January 2004USI renewed its relationship with Lumbermens in 2004, which continues to this day. USI manages bail agents through Lumbermens for larger bail agencies and general agents seeking a surety company with a small presence in their respective markets.
• Underwriters Surety, Inc. (USI)coreStrategic or Co-development PartnerUSI is a National General Agency founded in 1986 by John T. 'Jack' Whitlock and William B. 'Bill' Carmichael. ASC and USI share an experienced, knowledgeable staff and work together to provide high quality service to appointed agents. USI manages and contracts bail agents through Lumbermens with focus on larger bail agencies and general agents.
• American Bail Coalition (ABC)majorGTM or Marketing PartnerASC actively participates in the American Bail Coalition, with CEO Bill Carmichael serving as ABC Chair. ABC advocates for commercial bail as part of the criminal justice system and lobbies against bail reform legislation at state and federal levels.
• Professional Bondsmen of Texas (PBT)majorGTM or Marketing PartnerAmerican Surety Company is a regular sponsor of PBT events and maintains active agent relationships through this state association.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• International Fidelity Insurance Company (IFIC): A specialty surety insurer that is one of the largest writers of bail bonds in the United States, contracting with independent bail agents across multiple states. Directly comparable to ASC in product focus (bail + commercial surety), agent-channel GTM, and geographic breadth.
• Allegheny Casualty Company: A specialty surety carrier with a long-standing focus on bail bond underwriting for independent agents nationwide. Highly comparable to ASC in target customer (licensed bail agents), bond products, and multi-state licensing approach.
• Lexington National Insurance Corporation: A niche surety carrier specializing in bail bonds written through a network of appointed agents across many U.S. states. Directly comparable to ASC on product mix, agent distribution model, and policy forms.
• Bankers Insurance Group: A specialty property/casualty insurer with a meaningful bail bond underwriting business distributed through independent agents. Comparable to ASC in product category and channel-based GTM, though broader in overall P&C scope.
• SureTec Insurance Company: A specialty surety carrier writing contract, commercial, and bail bonds through agent and broker channels. Comparable to ASC in surety product breadth and reliance on appointed agents, with overlap in bail specifically.
• Granite Re, Inc. A surety insurance company underwriting contract, commercial, and bail bonds across multiple states. Comparable to ASC in surety underwriting focus and multi-state agent distribution, with overlapping commercial surety business.
• Indiana Lumbermens Mutual Insurance Company: A mutual insurance company historically partnered with Underwriters Surety, Inc. (ASC's sister company) for bail bond underwriting since 1986. Directly comparable to ASC as a carrier on the Lumbermens/USI platform and a longtime participant in the bail surety market.

Broad incumbents

• CNA Surety: A large, established U.S. surety underwriter (part of CNA Financial) offering contract, commercial, and miscellaneous surety products. Comparable to ASC in core product category (surety bonds), though much broader in scale and not specialized in bail.
• Travelers (Surety): A major national insurance carrier with a sizable surety division covering contract, commercial, and miscellaneous surety. Comparable to ASC as a competitor for agent-written surety business, with substantially broader underwriting capacity.
• Liberty Mutual Surety: A top U.S. surety underwriter within Liberty Mutual, writing contract and commercial surety through brokers/agents. Comparable to ASC as a competitor in commercial surety space, with broader portfolio and balance sheet.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/AmericanSuretyCompany

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Surety Company