Argo Group International Holdings has entered an agreement with North American insurer Trisura Group to enhance and expand its surety underwriting operations.
The agreement will see Trisura providing surety underwriting services and other support to Argo's surety operations, while Argo retains surety claims management responsibilities. According to a press release, both companies are actively negotiating shared surety and co-surety arrangements, as well as fronting arrangements.
Thomas A. Bradley, Argo executive chairman and CEO, remarked on the importance of this partnership in the evolution of Argo Surety. He highlighted Trisura’s underwriting philosophy and said it aligns with Argo’s commitment to “creating specialty solutions for hard-to-place business.”
“Through this partnership, we will build on our commitment to the surety business for our valuable broker partners while expanding our capacity for new business,” Bradley said.
Trisura Group is one of the largest surety writers in Canada. With over 16 years in the business, it has an established reputation in underwriting commercial, contract, and international surety.
Chris Sekine, president and CEO of Trisura Canada, also expressed excitement about the partnership and the opportunity to provide underwriting support and high-quality service to Argo’s brokers and agents.
“We are pleased to partner with Argo and believe the collaboration will expand support for both Argo and Trisura stakeholders,” said Sekine. “For Trisura’s North American surety platform, we are excited to continue negotiations to finalize terms to access Argo’s licensed and Treasury Listed paper in all US jurisdictions and assess co-surety and shared surety opportunities together. The strategic partnership will advance both of our businesses across North America.”
Alongside news of the Trisura partnership, Argo announced the addition of former RLI Surety leader Greg Chilson as an advisor on its surety business.
Chilson will work alongside Steve Boughal, Argo Surety’s interim head, to develop and execute the company’s surety business strategy. His responsibilities include evaluating its in-force portfolio, reviewing underwriting guidelines, providing guidance on organizational design, and mentoring junior staff.
Chilson retired as vice president of RLI’s surety division at the end of 2021. He was with RLI, a US-based specialty insurer serving niche property, casualty and surety markets, for nearly 30 years
“We are thrilled to have Greg on the team as we look to build upon the great success of Argo’s surety business,” said Boughal. “Greg’s deep industry knowledge and experience will provide tremendous value to the organization.”
In its press release, Argo also revealed that it has enlisted the services of MacColl Strategic Advisors to provide strategic advice and counsel regarding its surety operations.
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