RAISE Underwriting has reached an agreement to acquire United Surety, an independent managing general agent (MGA) in Mississauga.
Founded in 2020, United Surety provides surety products to brokers and their clients in Canada and the US.
“We are thrilled to welcome the talented United team to RAISE and look forward to a smooth transition of the business,” said RAISE CEO Matt Baynton. “By combining the expertise of RAISE and United, we will be able to offer our brokers a robust array of products in the construction and real estate space.”
“I am pleased for our staff and our brokers that we have been able to align ourselves with RAISE,” said United Surety president Iqbal Bhinder. “We look forward to joining a team that shares our sense of urgency in dealing with our broker partners and finding collaborative solutions for their clients.”
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The acquisition is one of RAISE’s first under the leadership of Baynton, who was named CEO in May. Baynton has almost two decades of experience in the insurance industry, having previously served as senior vice president of surety at Trisura Guarantee Insurance Company – a company at which he spent 14 years of his career.
