USF&G
| Industry | Insurance |
|---|---|
| Fate | Acquired by St. Paul Travelers in 1998 |
| Predecessor | United States Fidelity and Guaranty Company |
| Founded | March 19, 1896 Baltimore, Maryland, United States |
| Founders | John Randolph Bland |
| Defunct | January 1998 |
| Headquarters | Baltimore, Maryland, United States |
| Parent | St. Paul Travelers |
USF&G was an American insurance company which existed from 1896 until 1998. It was originally called United States Fidelity and Guaranty Company. The insurer formed a holding company for its insurance businesses and changed its name to USF&G in July 1981.Saint Paul Companies in January 1998 acquired USF&G for $3.9 billion.
As of late 1921, the United States Fidelity and Guaranty Company building was located at 26 South Calvert Street, Baltimore, Maryland. In 1921, the company's real estate including Baltimore and New York buildings amounted to about $2.6 million. In 1970, it built the 37-story USF&G Building in Baltimore, and in the early 1970s and over the next few decades, the former Mount Saint Agnes College campus was also owned and used by USF&G.
Originally called United States Fidelity and Guaranty Company, the Baltimore, Maryland-based company was organized on March 19, 1896, and commenced business on August 1, 1896. John Randolph Bland was the company's principal founder. On October 29, 1900, the company president John R. Bland vehemently denied that the company had paid any commissions to Richard Crocker with the intent of obtaining business in New York. Bland called it a "diabolical outrage" that the company had been brought up in a political campaign. At the time, the company's business in New York was overseen by company vice president Andrew Freedman.
In May 1902, the United States Fidelity and Guaranty Company of Maryland purchased a controlling interest in the stock of the New York surety company The Lawyer's Surety Company. The surety company remained in business, and there was no merger. On November 20, 1902, the company agreed along with two other major Baltimore bonding surety companies, the American Bonding and Trust Company and the Fidelity and Deposit Company to "end rate cutting in taking bonds." The New York Times estimated that the agreement would implemented in other cities as well. There was a Supreme Court case concerning the company in 1908, with United States Fidelity & Guaranty Co. v. United States ex rel. Struthers Wells Co.
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