ARGO - Argo Group to join hands with Trisura Group

2023-05-25 02:53:26 ET

• Argo Group International Holdings ( NYSE: ARGO ) agrees to collaborate with North American insurer, Trisura Group, Ltd. to support its surety underwriting operations as it works to revamp and grow its surety business.
• The terms of the pact were not disclosed.
• With the move , both parties intend to partner on and are actively negotiating appropriate terms related to shared surety and co-surety arrangements as well as fronting arrangements.
• Through the partnership, Trisura will provide surety underwriting services and other services to support Argo’s surety operations, whereas Argo will retain surety claims management responsibilities.
• Further, the company hires industry veteran, RLI Surety leader Greg Chilson as strategic advisor.
• The company has also contracted with MacColl Strategic Advisors to provide strategic advice and counsel in regard to its surety operations.

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