surety business News

Allied World Launches U.S. Surety Unit

Allied World Assurance Company Holdings, AG’s Allied World U.S. has expanded its casualty operations with the launch of a new surety line of business, available for clients in the United States. Robert Staples has been appointed senior vice president, surety, …

OneBeacon Announces New Surety Group

OneBeacon Insurance Group, Ltd. has launched its newest specialty business—OneBeacon Surety Group. The new business will be managed by OneBeacon Surety Group President Chad Anderson and will focus on a variety of commercial surety business in all 50 states, as …

Insurance for Bonds Among Changes Sought by Missouri Lawmakers

Several Missouri lawmakers want to add requirements for officials involved in economic development projects. A House panel heard testimony on eight measures aimed at increasing scrutiny of businesses that ask for government money. The legislation would require local governments to …

New Main Street America Unit Targets Large Surety Accounts

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 been appointed director, commercial surety …

Argo Surety Expands Capacity, Establishes Presence in Chicago

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 now offering up to …

Assured Guaranty to Offer Bond Insurance Through Electronic Trading Platform

Bond insurer Assured Guaranty Municipal Corp. (AGM) has formed an agreement with TheMuniCenter (TMC) for AGM to offer real-time quotes and electronic execution of its bond insurance on secondary market trades. Initially, AGM has listed approximately 5,000 approved municipal credits …

Aspen Launches U.S. Surety Unit

Specialty insurer Aspen has established a surety unit that will focus on public and private commercial and non-construction surety. Michael Toppi, executive vice president of Aspen U.S. Insurance, will lead the unit. Mathew Raino, will serve as vice president of …

CNA Looks to Buy Remaining Shares of CNA Surety

CNA Surety Corp. reported net income for the fourth quarter of 2010 of $54.5 million compared to $49.3 million for the same period in 2009. For the year ended Dec. 31, 2010, net income was $134.4 million compared to $117.9 …