History

Penn-America Insurance Company® was founded in 1975 by Irvin Saltzman and traces its roots to the general agency he founded in 1947. The company officially opened its doors for business on July 1, 1976. The first policy Penn-America issued was effective on July 6, 1976 for a total premium of $35.00. By the end of 1977 the company's written premium had grown to more than $1 million. In the fall of 1993 Penn-America began offering shares of stock in a newly formed parent company, Penn-America Group, Inc.®. In the summer of 1997, Penn-America completed a successful secondary offering, which positioned the company for future profitable growth.  In late 2002, a trust-preferred stock offering and a secondary common-stock offering added $38 million in additional capital. In 2005, Penn-America Group, Inc. became a subsidiary of United America Indemnity, Ltd.