RSA Canada and
Trisura have jointly announced that the former has agreed to transition its contract and commercial surety business in Canada to the latter’s
Trisura Guarantee Insurance Company.
A release said that RSA’s surety portfolio consists of about 450 contract and commercial surety accounts with annual premium in excess of $6 million.
The management teams of both companies will cooperate to ensure a smooth transition of business.
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“At RSA, our commercial business is focused on providing industry-leading service and expertise to our brokers and their customers,” said RSA Canada Commercial senior vice-president Paul Lucarelli. “An important aspect of this strategy is growing our global specialty lines business and putting our focus on segments where we can bring a differentiated proposition and expertise. We’ve made a strategic decision to transition the Canadian surety business to Trisura to maintain our focus on those segments and customers.”
“RSA Canada’s surety business is a great fit for Trisura Guarantee and allows us to further strengthen our position in the Canadian marketplace as a market leader in the small to mid-size contractor space,” commented Trisura Guarantee Surety senior vice-president Chris Sekine. “The transfer aligns well with our strategy of enhancing services to this segment. Our main focus will be to ensure a smooth transition with minimal disruption to brokers and their clients.”
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