Argo Surety broadcasts partnership with Trisura Group

Argo Surety Broadcasts Partnership with Trisura Group | Insurance coverage Enterprise America

Trade veteran employed for advisory function

insurance coverage information

By Mika Pangilinan

Argo Group Worldwide Holdings has reached an settlement with North American insurer Trisura Group to reinforce and increase its surety enterprise.

Beneath the phrases of the settlement, Trisura will present surety insurance coverage companies and different assist to Argo’s surety enterprise, whereas Argo retains duty for surety claims administration. Based on a press launch, each firms are actively negotiating joint warranty, co-guarantee and fronting agreements.

Thomas A. Bradley, Argo Chairman and CEO, emphasised the significance of this partnership within the improvement of Argo Surety. He highlighted Trisura’s underwriting philosophy, saying it’s in keeping with Argo’s dedication to “create particular options for hard-to-place offers”.

“By this partnership, we’ll enhance our dedication to the surety enterprise for our beneficial dealer companions whereas increasing our capability for brand spanking new enterprise,” added Bradley.

The Trisura Group is among the largest guarantors in Canada. With over 16 years expertise within the trade, the corporate has a stable fame for underwriting business, contractual and worldwide sureties.

Chris Sekine, President and CEO of Trisura Canada, was additionally excited concerning the partnership and the chance to supply underwriting assist and high quality companies to Argo’s brokers and brokers.

“We’re excited to companion with Argo and consider the collaboration will increase assist for each Argo and Trisura stakeholders,” mentioned Sekine. “For Trisura’s North American sponsorship platform, we stay up for persevering with negotiations to find out the phrases of entry to Argos licensed and Treasury listed securities in all US jurisdictions and to collectively discover co-sponsorship and joint sponsorship alternatives. The strategic partnership will advance each of our companies throughout North America.”

Trade veteran recruited for guide function

Alongside the information of the Trisura partnership, Argo introduced the addition of former RLI Surety head Greg Chilson as an advisor to its surety enterprise.

Chilson will work with Steve Boughal, Argo Surety’s interim director, to develop and execute the agency’s surety enterprise technique. His tasks embody evaluating the prevailing portfolio, reviewing underwriting tips, offering organizational design tips and mentoring junior employees.

Chilson retired in late 2021 as Vice President of RLI’s Underwriting Division. He spent almost 30 years at RLI, a US-based specialty insurer serving area of interest property, casualty and surety markets

“We’re delighted to have Greg on the staff as we glance to construct on the massive success of Argo’s surety enterprise,” mentioned Boughal. “Greg’s intensive trade information and expertise shall be of super worth to the corporate.”

In its press launch, Argo additionally introduced that it has engaged the companies of MacColl Strategic Advisors to supply strategic recommendation and steering in relation to its surety enterprise.

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2023-05-25 08:40:00