Trade veteran employed for advisory function
Insurance coverage Information
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 help to Argo’s surety operations, whereas Argo retains surety claims administration obligations. 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 government 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 way of this partnership, we are going to construct on our dedication to the surety enterprise for our beneficial dealer companions whereas increasing our capability for brand new enterprise,” Bradley added.
Trisura Group is among the largest surety writers in Canada. With over 16 years within the enterprise, it has a longtime popularity in underwriting industrial, contract, and worldwide surety.
Chris Sekine, president and CEO of Trisura Canada, additionally expressed pleasure in regards to the partnership and the chance to supply underwriting help and high-quality service to Argo’s brokers and brokers.
“We’re happy to accomplice with Argo and consider the collaboration will broaden help 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.”
Trade veteran tapped for advisory function
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 obligations embrace evaluating its in-force portfolio, reviewing underwriting tips, offering steering on organizational design, and mentoring junior employees.
Chilson retired as vice chairman 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 almost 30 years
“We’re thrilled to have Greg on the workforce as we glance to construct upon the nice success of Argo’s surety enterprise,” mentioned Boughal. “Greg’s deep trade information and expertise will present great worth to the group.”
In its press launch, Argo additionally revealed that it has enlisted the providers of MacColl Strategic Advisors to supply strategic recommendation and counsel concerning its surety operations.
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