Argo Surety Announces Partnership with Trisura Group | Insurance Business America
Industry veteran hired for advisory role
insurance news
By Mika Pangilinan
Argo Group International Holdings has reached an agreement with North American insurer Trisura Group to enhance and expand its surety business.
Under the terms of the agreement, Trisura will provide surety insurance services and other support to Argo’s surety business, while Argo retains responsibility for surety claims management. According to a press release, both companies are actively negotiating joint guaranty, co-guarantee and fronting agreements.
Thomas A. Bradley, Argo Chairman and CEO, emphasized the importance of this partnership in the development of Argo Surety. He highlighted Trisura’s underwriting philosophy, saying it is in line with Argo’s commitment to “create special solutions for hard-to-place deals”.
“Through this partnership, we will expand our commitment to the surety business for our valuable broker partners while expanding our capacity for new business,” added Bradley.
The Trisura Group is one of the largest guarantors in Canada. With over 16 years experience in the industry, the company has a solid reputation for underwriting commercial, contractual and international sureties.
Chris Sekine, President and CEO of Trisura Canada, was also excited about the partnership and the opportunity to provide underwriting support and quality services to Argo’s brokers and agents.
“We are excited to partner with Argo and believe the collaboration will expand support for both Argo and Trisura stakeholders,” said Sekine. “For Trisura’s North American sponsorship platform, we look forward to continuing negotiations to determine the terms of access to Argos licensed and Treasury listed securities in all US jurisdictions and to jointly explore co-sponsorship and joint sponsorship opportunities. The strategic partnership will advance both of our businesses across North America.”
Industry veteran recruited for consultant role
Alongside the news of the Trisura partnership, Argo announced the addition of former RLI Surety head Greg Chilson as an advisor to its surety business.
Chilson will work with Steve Boughal, Argo Surety’s interim director, to develop and execute the firm’s surety business strategy. His responsibilities include evaluating the existing portfolio, reviewing underwriting guidelines, providing organizational design guidelines and mentoring junior staff.
Chilson retired in late 2021 as Vice President of RLI’s Underwriting Division. He spent nearly 30 years at RLI, a US-based specialty insurer serving niche property, casualty and surety markets
“We are delighted to have Greg on the team as we look to build on the huge success of Argo’s surety business,” said Boughal. “Greg’s extensive industry knowledge and experience will be of tremendous value to the company.”
In its press release, Argo also announced that it has engaged the services of MacColl Strategic Advisors to provide strategic advice and guidance in relation to its surety business.
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