Latest Surety Headlines
All the headlines from our Surety Topic Page, ordered by recency.
Arch Capital Completes Acquisition of Ariel Re’s Credit & Surety Reinsurance
Apr 11 2012 // The Bermuda-based Arch Capital Group announced that it has officially acquired Ariel Re’s Credit & Surety reinsurance operations based in Zurich, as previously announced. The closing occurred at the same time as...
A.M. Best Affirms Ratings of Western Surety Group and Members
Apr 5 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Western Surety Group (Western Surety), previously known as CNA Surety Corp. Group (CNA...
Arch Capital to Acquire Ariel Re’s Credit & Surety Reinsurance Operations
Mar 5 2012 // The selloff of various parts of Ariel Re continues, as Arch Capital announced that it will acquire Ariel Re’s Credit & Surety reinsurance operations based in Zurich. The news follows an earlier announcement that...
Willis Tabs Zurich Exec to Lead U.S. Construction Surety Business
Feb 23 2012 // Willis North America, a unit of global insurance broker Willis Group Holdings, appointed Sean McGroarty as New York-based national surety leader of Willis North America construction practice. Sean McGroarty Previously,...
Pennsylvania Insurance Department to Liquidate First Sealord Surety
Feb 13 2012 // The Pennsylvania Insurance Department Commissioner Michael Consedine announced last week that the Commonwealth Court has approved the department’s petition to liquidate First Sealord Surety Insurance. First Sealord,...
Torus Enters U.S. Surety Market
Dec 13 2011 // Torus has entered the U.S. surety market with the launch of Torus Surety and the acquisition of First Sealord Surety Inc. The deal should be finalized in January 2012. Torus Surety will focus on providing contract surety...
Best Places Ratings of First Sealord Surety Under Review/Negative
Dec 13 2011 // A.M. Best Co. has placed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Penna.-based First Sealord Surety, Inc. (FSSI) under review with negative...
Seneca Creates Surety Division
Nov 30 2011 // Seneca Insurance Companies has launched a new product line and operating division for contract and commercial surety. The contract surety side will focus on small and emerging construction, supply, furnish and installation...
Best Affirms Virginia Surety Co. Ratings; Outlook Positive
Nov 28 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Chicago-based Virginia Surety Company, Inc, both with positive outlooks. The...
XL’s Surety Unit Appoints Executive Underwriter in Baltimore
Nov 17 2011 // XL Group’s surety unit is expanding with the appointment of James Hoyas as vice president and executive underwriter. He is based in XL’s Baltimore office and reports to Bill Mills, senior vice president of...
New Main Street America Unit Targets Large Surety Accounts
Nov 9 2011 // The Main Street America Group has created a commercial surety national accounts unit to focus exclusively on large accounts. The unit will be staffed by Merritt Willits, Paul Bergenholtz and Adam Rehn. Willits, who has...
Baus Selected National Surety Leader at Westfield Insurance
Oct 19 2011 // Westfield Insurance, headquartered in Westfield, Ohio, has selected Dennis Baus to lead the company’s surety operations. Baus assumes the national surety Leader responsibilities on Jan. 1, 2012, replacing Rick...
Aon Hires Willis Executive to Lead Contract Surety Unit in Boston
Oct 13 2011 // Aon Risk Solutions appointed Paul Healy as executive vice president and national managing director of contract surety. Based in Boston, Healy will lead Aon’s national contract surety unit, which helps contractors and...
Louisiana Court Orders Injunction Against Insurance Fraud Ring
Sep 19 2011 // A Louisiana court has ordered a permanent injunction against members of an insurance fraud ring, banning them from further involvement in the insurance business in that state. Louisiana Insurance Commissioner Jim Donelon...
Louisiana Court Orders Injunction Against Insurance Fraud Ring
Sep 9 2011 // Insurance regulators in Louisiana say a court has ordered a permanent injunction against members of an insurance fraud ring, banning them from further involvement in the insurance business in that state. Louisiana...
Argo Surety Expands Capacity, Establishes Presence in Chicago
Aug 24 2011 // Argo Surety, a member ofArgo Group International Holdings, has established a presence in the Chicago area with the appointment of Dan Carlson as vice president for North Central and Western U.S. Regions. In addition, it is...
Ullico Casualty, Philadelphia Partner to Offer Surety to Union Contractors
Jul 11 2011 // Ullico Casualty Group, Inc. and Ullico Casualty Co. have formed a strategic alliance with property and casualty insurance carrier Philadelphia Insurance Cos. The partnership allows Philadelphia to deliver contract and...
Travelers Acquires Interest in Brazilian Surety Insurer JMalucelli
Jun 21 2011 // The Travelers Companies announced that the company has completed its acquisition of a 43 percent interest in JMalucelli Participações em Seguros e Resseguros S.A., the market leader in the surety insurance business in...
Texas Insurance Executive Named President of Surety Bond Producers Association
Jun 1 2011 // John M. Rindt, executive vice president of the Surety Division of JDW Insurance, an El Paso, Texas-based insurance agency, has been installed as the president of the National Association of Surety Bond Producers...
Surety & Fidelity Association Elects Chubb’s Vispoli as Chair
May 11 2011 // The Surety & Fidelity Association of America has elected Tracey Vispoli, senior vice president, Chubb Group of Insurance Companies, as chair of the board for 2011-2012. Vispoli is the global manager for Chubb’s...
