Our History

Celebrating 145 Years

2017 marks the 145th anniversary of The Guarantee. When it was founded in 1872, the directors of the company believed that the best way to build a successful business was through product specialization, financial strength and hiring the most knowledgeable and capable employees in the industry to be able to effectively partner with our clients and brokers. After all these years, the company still conducts its business based on these same core principles.

Early Years 

In its early years the company provided fidelity bonds for the employees of railways and banks, and later for private businesses and governments. These enterprises constituted the economic foundation from which Canada developed as a nation. To this day, The Guarantee is still one of the largest contract surety and fidelity bonding companies in the country.

In response to its growing volume of business, The Guarantee , in 1881, applied to the Canadian Parliament for a name change and became known as The Guarantee Company of North America, and subsequently in 1890, incorporated a subsidiary under the name of The United States Guarantee Company. The Guarantee enjoyed success and boasted a distinguished Board of Directors including George H. Pullman, J.P. Morgan and Asa Potter. By the late 1880’s, The Guarantee was the largest fidelity company in the USA and had over 300 clients and directorates in all the major American cities.

Turn of the Century

During the economic boom of the early 1900’s, the company prospered despite finding itself embattled by what Edward Rawlings described as “suicidal competition” mainly in the United States. In 1909, the company’s surplus reached an impressive $1 million dollars.

The New Millennium

With a strong financial position and product growth, The Guarantee entered the 21st century ready and able to face dynamic market changes and challenges. Technology, competition and customer mobility challenged the reach, scale and pace at which the insurance industry needed to operate. The Guarantee embraced change with a new mindset and a goal to promote growth. The company continued to strengthen its reputation by expanding relationships and networking with business partners, brokers and associations.

2010 and Beyond

Amidst a volatile market and slow economic growth, The Guarantee continued to deliver strong results in all product lines. Its success can be accredited to its legacy of strict underwriting guidelines, strong capital and a mission to embrace change.

The Guarantee, recognizing the important role of web-based technology in modern operations, released three on-demand web platforms to support and enhance the delivery of services to brokers; GQuote, QuickWrite, and the ClaimCenter Portal. The company also released two client focused mobile applications; The Guarantee Go-To Solutions, and the GUARANTEE GOLD ® Mobile App.

The company demonstrated substantial growth on all levels and continued to cement its reputation as a leading provider of surety bonds in the United States.

The Future 

The future is exciting for The Guarantee. Gross written premiums continue to climb upwards as the company strategically aligns itself to compete in a wave of technology and new market demands.

The company’s steady growth, conservative underwriting, and financial stability have earned it the trust of its clients and the support of the international reinsurance community. This support and recognition allow the company to continue to provide coverage for some of the largest clients and projects on the continent and to be a leader and major underwriter of specialized insurance products.

The Guarantee will remain a steadfast partner contributing to the growth of North America while serving the interests of its shareholders and clients as it has done so proudly for the last 145 years.