Biglari Holdings Purchases Truck Insurer First Guard
March 19, 2014
The investment holding company Biglari Holdings has acquired trucking insurance provider First Guard Insurance Co. and its affiliate, 1st Guard Corp.
First Guard will continue to be operated by its current management team led by CEO Edmund B. Campbell, III. The ownership change will not have an impact on day-to-day operations, according to Biglari. First Guard will remain headquartered in Venice, Fla.
First Guard Insurance, licensed in 28 states, is a direct underwriter of commercial trucking insurance selling physical damage and non-trucking liability insurance to owner-operator truckers. It writes business rather than going through agents and brokers, giving it one of the lowest cost structures in the insurance industry, according to the company.
Biglari Holdings is a Texas-based operation that owns the restaurants Steak ‘n Shake and Western Sizzlin’ among other properties.