Trade veteran employed for advisory position
Argo Group Worldwide Holdings has entered an settlement with North American insurer Trisura Group to boost and develop 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 line with a press launch, each firms 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 stated it aligns with Argo’s dedication to “creating specialty options for hard-to-place enterprise.”
“By means of this partnership, we are going to construct on our dedication to the surety enterprise for our invaluable dealer companions whereas increasing our capability for brand spanking new enterprise,” Bradley added.
Trisura Group is likely one of the largest surety writers in Canada. With over 16 years within the enterprise, it has a longtime fame in underwriting industrial, contract, and worldwide surety.
Chris Sekine, president and CEO of Trisura Canada, additionally expressed pleasure concerning the partnership and the chance to offer underwriting assist and high-quality service to Argo’s brokers and brokers.
“We’re happy to companion with Argo and consider the collaboration will develop assist for each Argo and Trisura stakeholders,” stated 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 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 embody evaluating its in-force portfolio, reviewing underwriting pointers, offering steerage on organizational design, and mentoring junior workers.
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 practically 30 years
“We’re thrilled to have Greg on the group as we glance to construct upon the nice success of Argo’s surety enterprise,” stated Boughal. “Greg’s deep trade information and expertise will present super worth to the group.”
In its press release, Argo additionally revealed that it has enlisted the providers of MacColl Strategic Advisors to offer strategic recommendation and counsel relating to its surety operations.
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