Service Group - About Us

The Service Group story began more than 60 years ago when Joe Gray took an accounting position with South Texas Lloyds Insurance Company. After many years of service, Mr. Gray capitalized on an opportunity to purchase South Texas Lloyds in 1963. He then purchased Service Life and Casualty in November of 1971. Service Life provides a full line of specialty products and services to over 350 automotive dealerships throughout Texas, New Mexico, Colorado, Arizona, and Louisiana, producing over $375 million in assets and over $9 billion of insurance in force.

In response to market conditions in 1982, Service Lloyds established the Auto Comp program (a workers' compensation program for auto dealers). This effort provided the Texas Automobile Dealers Association and the Texas dealers they represent with the highest quality and best managed workers' compensation program on the market.

Service Group's insurance operations, comprised of Service Life and Service Lloyds, stand at the forefront of the industry, offering the most comprehensive programs and innovative solutions available to our clients. Service Group is more than just an insurance company. Our approach involves helping our clients improve their efficiency and profitability by providing products, support, and services unparalleled in the industry. Service Group's field staff is made up of over 50 highly trained and experienced personnel, who roll up their sleeves every day to deliver on our promise to our clients.

Recognizing the need to have its dealers' credit insurance reserves managed by highly trained professionals, the Gray family founded Service Asset Management Company (SAMCO), a full line broker dealer operation. Ten years later, SAMCO took advantage of an opportunity to purchase a clearing firm (Penson Financial Services, Inc.) to process transactions for other brokerage firms. They have grown from a handful of employees in the early years to more than 500 today, with offices in the United States, London, Montreal, and Toronto.

Service Group's success has been marked by an ability to expand and diversify through developing new distribution arms, not necessarily new lines of business. The knowledge and experience of Service Group's employees has placed us in a position envied by competitors.