Since the formation of the Aegis reinsurance fronting program, The Bond Agency has bonded contracts totaling nearly $700 Million and produced written premium of $12 Million at below industry average loss ratios. In 2009 the owners of The Bond Agency founded Delaware Surety Insurance Company to assume reinsurance on the bonds placed with Aegis. Also at that time, Delmarva Underwriters name was changed to The Bond Agency to reflect its marketing focus on Surety Bonds for the construction industry. In 2005 a reinsurance fronting arrangement was created with Aegis Security Insurance Company of Harrisburg, PA giving The Bond Agency binding authority to underwrite surety bonds throughout the Mid-Atlantic region. In 1993, Clay Foltz acquired Delmarva Underwriters and relocated the firm to Dover, DE. ![]() Delmarva Underwriters allowed First Delaware to expand their surety bond writings through a reinsurance fronting arrangement with Frontier Insurance Co, Frontier gave First Delaware access to A rated paper, multi-state licensing and increased US Treasury list capacity. an affiliated ageny of First Delaware Insurance Company, of Smyrna, DE, a commercial property and casualty company owned by the Foltz family. The Bond Agency was founded in 1991 as Delmarva Underwriters, Ltd.
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