Argo Surety announces partnership with Trisura Group

Argo Group International Holdings has entered into an agreement with North American insurer Trisura Group to develop and expand its surety underwriting operations.

The agreement will see Trisura provide surety underwriting services and other support to Argo’s surety operations, while Argo retains surety claims management responsibilities. According to a press release, the two companies are actively negotiating shared surety and co-surety arrangements, as well as fronting arrangements.

Thomas A. Bradley, Argo executive chairman and CEO, expressed 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 tough business areas.”

“Through this partnership, we will enhance our commitment to business assurance for our valued broker partners while expanding our capacity for new business,” added Bradley.

Trisura Group is one of Canada’s largest surety writers. With over 16 years in business, it has an established reputation in underwriting commercial, contract, and international insurance.

Chris Sekine, president and CEO of Trisura Canada, also expressed excitement about the partnership and the opportunity to provide underwriting support and quality service to Argo’s brokers and agents.

“We are pleased to partner with Argo and believe the collaboration will expand support for Argo and Trisura stakeholders,” said Sekine. “For Trisura’s North American securitization platform, we are excited to continue negotiations to finalize the terms to access Argo’s licensed and Treasury Listed paper in all US jurisdictions and examine the co- surety and shared assurance opportunities. The strategic partnership will enhance both of our businesses across North America.”

The industry veteran has been tapped for the advisory role

Along with the Trisura partnership news, Argo announced the addition of former RLI Surety leader Greg Chilson as an advisor to its surety business.

Chilson will work with Steve Boughal, Argo Surety’s interim head, to develop and implement the company’s surety business strategy. His responsibilities include evaluating his in-force portfolio, reviewing underwriting guidelines, providing guidance on organizational design, and mentoring junior staff.

Chilson will retire as vice president of RLI’s surety division at the end of 2021. He has been with RLI, a US-based specialty insurer serving the niche property, casualty and surety markets, for nearly 30 years

“We are delighted to have Greg on the team as we look to build on the tremendous business success Argo is sure to be,” said Boughal. “Greg’s deep industry knowledge and experience will bring tremendous value to the organization.”

In its press release, Argo also disclosed that it has requested the services of MacColl Strategic Advisors to provide strategic advice and counsel regarding its surety operations.

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