Pol risk, credit & surety
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The Canadian fronting carrier has been expanding its surety business in the US for several months through various initiatives. -
The repercussions of the war between Russia and Ukraine continue to affect several countries, including Egypt and Somalia, as a result of grain-supply interruptions.
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The firm expects to obtain all regulatory approval to close the US deal over the next three to four months.
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The carrier will look to support green energy projects in developing nations.
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Other appointments in the team include Nick Ayres as chairman of global credit and Doug Espenson named as head of US mortgage.
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Argo has also hired former RLI surety head Greg Chilson as an adviser.
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If the crisis had played out differently with defaults on deposits, surety insurers would have run up huge losses.
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The Fidelis IPO has no clear precedent, but there is an appetite for investment in the specialty space, as seen earlier this year with the Skyward public listing.
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Inside P&C’s news team runs you through the key highlights of the week.
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Topics discussed included Caribbean cat risk, protests in Peru, crisis in Argentina and the World Cup.
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The expected results are a result of the unusually low levels of insolvency and subsequent claims frequency.
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Cedants are grappling with rising rates while coverage narrows.
Related
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Dual NA expands surety program capacity
May 06, 2025 -
Howden names Noorani global head of surety
December 03, 2024