Warrantech and Great American Insurance Announce Long-Term Agreement
10 October 2000
Warrantech and Great American Insurance Company Announce Long-Term AgreementEULESS, Texas, Oct. 10 Warrantech Corporation (OTC Bulletin Board: WTEC) and Great American Insurance Company today announced that they have reached a multi-year agreement. Under the agreement, Great American will provide underwriting for products sold by Warrantech Automotive, Warrantech Consumer Products, and Warrantech Home Service Company. Since July 25, 2000, Great American has been the underwriter for Warrantech's new RepairMaster Program and assumed all underwriting effective September 1, 2000. Great American is a member of the American Financial Group, which is a multi-line holding company with over sixteen billion dollars in assets. The group carries an A.M. Best Rating of "A-" Excellent. Joel San Antonio, Chairman and Chief Executive Officer stated "Warrantech is extremely excited to have established a long-term relationship with Great American. We view this strategic partnership as a solid base from which we can build our business long into the future. We are very pleased that after extensive review, Great American concluded that Warrantech was a viable and appropriate strategic partner to grow its book of Extended Service Contract Business."