Argo Surety publicizes partnership with Trisura Group

Argo Group Worldwide Holdings has entered an settlement with North American insurer Trisura Group to boost and broaden its surety underwriting operations.

The settlement will see Trisura offering surety underwriting providers and different assist to Argo’s surety operations, whereas Argo retains surety claims administration duties. In keeping with a press launch, each corporations are actively negotiating shared surety and co-surety preparations, in addition to fronting preparations.

Thomas A. Bradley, Argo govt chairman and CEO, remarked on the significance of this partnership within the evolution of Argo Surety. He highlighted Trisura’s underwriting philosophy and mentioned it aligns with Argo’s dedication to “creating specialty options for hard-to-place enterprise.”

“By means of this partnership, we’ll construct on our dedication to the surety enterprise for our invaluable dealer companions whereas increasing our capability for brand new enterprise,” Bradley added.

Trisura Group is without doubt one of the largest surety writers in Canada. With over 16 years within the enterprise, it has a longtime popularity in underwriting business, contract, and worldwide surety.

Chris Sekine, president and CEO of Trisura Canada, additionally expressed pleasure concerning the partnership and the chance to supply underwriting assist and high-quality service to Argo’s brokers and brokers.

“We’re happy to associate with Argo and imagine the collaboration will broaden assist for each Argo and Trisura stakeholders,” mentioned Sekine. “For Trisura’s North American surety platform, we’re excited to proceed negotiations to finalize phrases to entry Argo’s licensed and Treasury Listed paper in all US jurisdictions and assess co-surety and shared surety alternatives collectively. The strategic partnership will advance each of our companies throughout North America.”

Business veteran tapped for advisory position

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

Chilson will work alongside Steve Boughal, Argo Surety’s interim head, to develop and execute the corporate’s surety enterprise technique. His duties embrace evaluating its in-force portfolio, reviewing underwriting pointers, offering steerage on organizational design, and mentoring junior employees.

Chilson retired as vp of RLI’s surety division on the finish of 2021. He was with RLI, a US-based specialty insurer serving area of interest property, casualty and surety markets, for practically 30 years

“We’re thrilled to have Greg on the workforce as we glance to construct upon the good success of Argo’s surety enterprise,” mentioned Boughal. “Greg’s deep business information and expertise will present large worth to the group.”

In its press release, Argo additionally revealed that it has enlisted the providers of MacColl Strategic Advisors to supply strategic recommendation and counsel relating to its surety operations.

What are your ideas on this story? Be happy to remark under.