First Net Insurance Company was incorporated in Guam on July 24, 1998 as a domestic property and casualty company. Originally capitalized at $1,000,000, its shareholders’ equity now stands at $18.7 million.
First Net combines strong local ownership with an experienced agency network, integrated support services, and a long-standing presence across Guam and Micronesia.
First Net Insurance Company is owned 100% by the family of Kurt S. and Judith A. Moylan, who founded Moylan’s Insurance Underwriters, Inc. in 1971. Today, that agency is recognized as the largest property and casualty insurance agency in Guam.
Moylan’s Insurance Underwriters acts as managing general agent for First Net, serving as its marketing and frontline underwriting arm while also providing finance, accounting, data processing, and claims administration support.
Through its network of branches and agents, the company serves Guam and Micronesia, including the Commonwealth of the Northern Mariana Islands, Republic of Palau, Federated States of Micronesia, and the Republic of the Marshall Islands.
First Net started doing business in March 2000 after completing its reinsurance program and meeting government requirements, then assumed the business previously written by Moylan’s Insurance for MMI Australia on April 1, 2000.
First Net Insurance Company was incorporated in Guam as a domestic property and casualty company.
The company began operations after completing its reinsurance program and meeting various government requirements.
First Net took over the business previously written by Moylan’s Insurance for MMI Australia.
Its U.S. Treasury certified surety underwriting restriction stood at $1,870,000, with treaty-backed capacity allowing bonds up to $10,000,000 per contractor.
Policyholders’ surplus reached $18.7 million.
The 2026 treaty reinsurance program is led by Everest Reinsurance Company, with support from Odyssey Reinsurance and Lloyd’s syndicates including Canopius, MS Amlin, and Allied World.
To provide reliable protection, deliver excellent service, ensure fair claims, support our people, create value for investors, and contribute to the community’s growth.
First Net’s mission centers on disciplined underwriting, strong management, efficient service delivery, and long-term value creation for customers, employees, investors, and the broader community.
Provide the insuring public with a stable and reliable source of protection through the consistent application of sound underwriting principles and good business management.
Deliver quality service through a highly skilled and strongly motivated workforce that uses the latest and most efficient technology in support of customers and partners.
Ensure customer satisfaction through efficient, fair, and timely settlement of claims.
Provide security and potential for growth to deserving employees.
Provide a reasonable rate of return to investors.
Accreditations, ratings, reinsurance strength, and operational capabilities that support First Net’s market position.
First Net is listed by the U.S. Treasury Department as a certified surety company that can issue bonds in favor of the U.S. Federal government. Coupled with its bond treaty facility, it can write government and private bonds up to $10,000,000 per contractor.
First Net is the only local surety company in Guam and Micronesia accredited by the U.S. Small Business Administration to issue bonds to qualified small contractors without collateral.
First Net has an agreement with the Guam Economic Development Authority allowing local contractors to obtain contract bonds using GEDA’s guarantee in lieu of collateral.
Authorized by the Office of Workers Compensation Programs, U.S. Department of Labor, to insure employees covered under the Longshore and Harbor Workers’ Compensation Act.
First Net is rated A- (Excellent), Stable Outlook by A.M. Best and A~ (Unsurpassed) by Demotech. These ratings support wider access to business from banks and financial institutions.
The company has developed its own fully integrated web-based software called Apollo to manage operations and ensure fast, fair, and efficient service to customers, producers, and reinsurers.
