Toronto, ON (Oct. 30, 2017) – Trisura Group Ltd. (“Trisura”) and RSA Canada (“RSA”) are pleased to announce the transition of RSA’s contract and commercial surety business in Canada to Trisura Guarantee Insurance Company (“Trisura Guarantee”). RSA’s Canadian surety portfolio consists of approximately 450 contract and commercial surety accounts with annual premium in excess of $6 million. The management teams of both companies will work closely together to ensure a smooth transition of the business.
“At RSA, our commercial business is focused on providing industry-leading service and expertise to our brokers and their customers,” says Paul Lucarelli, Senior Vice President, Commercial at RSA Canada. “An important aspect of this strategy is growing our Global Specialty Lines business and putting our focus on segments where we can bring a differentiated proposition and expertise. We’ve made a strategic decision to transition the Canadian surety business to Trisura to maintain our focus on those segments and customers.”
“RSA Canada’s surety business is a great fit for Trisura Guarantee and allows us to further strengthen our position in the Canadian marketplace as a market leader in the small to mid-size contractor space. The transfer aligns well with our strategy of enhancing services to this segment. Our main focus will be to ensure a smooth transition with minimal disruption to brokers and their clients” says Chris Sekine, Senior Vice President, Surety at Trisura Guarantee.
Trisura Group Ltd. is a leading international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company, Trisura International Insurance Ltd. and Trisura Specialty Insurance Company. Trisura is listed on the Toronto Stock Exchange under the symbol “TSU”. Trisura Guarantee Insurance Company is a Canadian specialty insurance and surety company with offices across Canada, providing customized solutions and expertise through a select broker network. Trisura Guarantee is uniquely positioned to satisfy Canadian risks in Contract, Commercial and Developer Surety, Directors’ and Officers’ Liability, Fidelity, Professional Liability including Media and Cyber Liability and Warranty products.
About RSA Canada
The RSA Canada group of companies includes Roins Financial Services Limited, Royal & Sun Alliance Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Unifund Assurance Company, Western Assurance Company, Ascentus Insurance Ltd., Canadian Northern Shield Insurance Company and RSA Travel Insurance Inc. (collectively, “RSA Canada”) and is part of a group of companies headed by RSA Insurance Group Plc. RSA Canada employs more than 3,000 people across Canada and is one of the oldest insurance companies in the country with roots dating back to 1833.
Source: RSA CanadaTags: RSA, Surety, Trisura