Argo Group International Holdings (Argo), a multinational underwriter of specialty insurance and reinsurance products, has announced an immediate partnership with Trisura Group, a North American specialty insurance provider.
The collaborative endeavour will focus on strengthening Argo’s surety underwriting operations and expanding its surety business.
Argo’s decision to partner with Trisura stems from a shared objective of growing and innovating its surety business. Trisura will deliver surety underwriting services to boost Argo’s operations, while Argo will maintain surety claims management responsibilities. The partners are in active negotiations regarding shared and co-surety arrangements, as well as fronting arrangements.
Argo is an underwriter of specialty insurance products within the property and casualty market, providing a comprehensive range of services designed to meet the unique coverage needs of businesses. On the other hand, Trisura offers surety, risk solutions, corporate insurance, fronting and reinsurance. Boasting over 16 years of business experience, Trisura is renowned as a proficient surety underwriter in Canada.
Apart from this collaboration, Argo also announced the addition of industry veteran Greg Chilson to advise on its surety business. The company has also engaged MacColl Strategic Advisors to offer strategic advice and counsel regarding its surety operations. However, specific terms of the partnership agreement between Argo and Trisura were not disclosed.
Thomas A. Bradley, Argo executive chairman and CEO, said, “This partnership is an important step as we work to evolve Argo Surety. 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.”
Chris Sekine, president and CEO Trisura Canada, added, “We are excited to continue negotiations to finalise terms to access Argo’s licensed and Treasury Listed paper in all U.S. jurisdictions and assess co-surety and shared surety opportunities together. The strategic partnership will advance both of our businesses across North America.”
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