Reinsurance News
surety
Saudi Re signs reinsurance contract for Surety Bonds Program with Walaa
31st December 2024
Saudi Re has announced the signing of a reinsurance contract with Walaa Cooperative Insurance Company for the Surety Insurance Bonds Coinsurance Program. This program provides financial guarantees to ensure contractors meet their obligations on construction projects developed by the Public Investment Fund’s (PIF) Development Companies. The contract spans 12 Gregorian months, starting ... Read the full article
Howden appoints Swiss Re’s Azman Noorani as Global Practice Leader, Surety
3rd December 2024
Global insurance intermediary group Howden has announced the appointment of Azman Noorani as Global Practice Leader, Surety, effective 1 November 2024. Noorani will report to Mark Wood, Head of Global Specialty Practices, and will lead Howden’s new Global Surety Practice. This initiative aims to expand on Howden’s existing surety capabilities, offering ... Read the full article
Austral Re reports strong growth in LatAm surety insurance market
22nd November 2024
Brazilian reinsurer Austral Re has achieved steady growth since launching its strategic plan for Guarantee Insurance in Latin America (LatAm) two years ago, with subscribed premiums reaching R$ 100 million by September and an expected R$ 110 million by year-end, a 40% increase from the previous year. Austral Re operates in ... Read the full article
Core Specialty enters contract surety market following American Surety acquisition
12th September 2024
Core Specialty Insurance Holdings and its subsidiaries have announced the expansion of its surety offerings by entering the contract surety market. The firm’s new Surety division, part of its Bond, Credit & Guarantee subsegment, was established on November 1, 2023. American Surety Company became a subsidiary of Core Specialty ... Read the full article
Jesús Barbero named BHSI Head of Surety in Spain
22nd July 2024
Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett's global re/insurance company, has entered the surety market in Spain. Jesús Barbero is to lead the new product line. Constanza Gállegos, Country Manager, BHSI in Spain, stated: "We are excited to lead BHSI’s entry into the European surety market. “By ... Read the full article
DUAL Benelux names Aram Stoop as new Managing Director
28th June 2024
DUAL Benelux, a division of the international insurance underwriting firm DUAL Europe, has named Aram Stoop as its new Managing Director. Reporting to Olaf Jonda, CEO of DUAL Europe, Stoop steps into the position previously held by Peter Kegel, who founded DUAL Benelux in 2023 and has since left the company. Olaf ... Read the full article
Trisura Group reveals new senior management team
14th June 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inception, has been appointed Chief Underwriting Officer. Initially leading the Corporate Insurance practice and most recently serving as ... Read the full article
Howden announces new appointment within Surety team
22nd February 2024
Global re/insurance broker Howden has announced new appointments to its Capital, Advisory & Placement’s Surety team, naming Chris Coomans Head of Natural Resources, James Royal Head of Mining and Marc Underwood Trade Finance Lead. All the new appointments are based within Howden’s Surety division. The broker has a long history of ... Read the full article
Kairos names Lim as Managing Director, Southeast Asia
22nd February 2024
Singapore-based risk consultancy firm, Kairos Risks Solutions has announced the appointment of Albert Lim as Managing Director, Southeast Asia. Kairos also has a presence in Shanghai and it primarily develops insurance products such as parametric, agriculture, trade credit and surety, for brokers and insurers. A well-respected veteran in the Political Risk, Trade ... Read the full article
Sammy Free joins Brokerslink as new affiliate
14th November 2022
Brokerslink, a global broking business, has added Sammy Free, an insurance and reinsurance brokerage specialising in surety insurance, to its international network. From its headquarters in Spain, Sammy Free has been dedicated to enabling clients to obtain their guarantees in the field of technical guarantees since it was founded in 2012. ... Read the full article
QBE announces Hobson as Head of Surety, UK
8th July 2022
Insurer QBE has announced the appointment of Leroy Hobson as its new Head of Surety, UK. Leroy has over 25 years experience in the surety market, having held Head of Surety roles at Zurich, Chubb and Aon. In his new role he will be responsible for driving profitable ... Read the full article
Munich Re Specialty offering Contract & Commercial surety bonds
5th May 2022
Munich Re Specialty Insurance (MRSI), a division of German reinsurance giant, Munich Re, has announced that it is offering Contract and Commercial surety bonds. The bonds will be available in all 50 US states and Puerto Rico, and will be sold through MRSI’s retail broker partners. In addition, the bonds are backed ... Read the full article
US infrastructure package to boost surety market: AM Best
17th January 2022
Analysts at AM Best are expecting a recently enacted $1.2 trillion US infrastructure to result in more business opportunities for surety companies due to new investments in the transportation and energy sectors. The new law includes $550 billion in new spending on infrastructure over the next five years and billions more ... Read the full article
Xenia acquires trade credit & surety business from Tysers
13th January 2022
Credit insurance and surety specialist Xenia Broking Group has acquired the UK trade credit and surety business of Tysers Insurance Brokers (Tysers). The transaction was completed on 11th January and marks Xenia’s eighth acquisition to date and fifth in the last nine months, having acquired Peter Hill Credit & Financial ... Read the full article
Lockton appoints Patrick Pribyl to lead new National Surety Practice
1st October 2020
Insurance and reinsurance brokerage, Lockton, has announced the launch of its National Surety Practice, which is to be led by surety market veteran, Patrick Pribyl. Lockton's new National Surety Practice will have a focus on surety support for clients backed by all Lockton business lines; alignment of resources and technical expertise; ... Read the full article
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