October 30, 2017 by Staff
RSA Canada announced on Monday that it has transitioned its contract and commercial surety business in Canada to Trisura Guarantee Insurance Company.
“At RSA, our commercial business is focused on providing industry-leading service and expertise to our brokers and their customers,” said Paul Lucarelli, senior vice president, commercial at RSA Canada, in a statement.
“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,” he added.
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, according to the announcement.
“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,” said Chris Sekine, senior vice president, surety at Trisura Guarantee, in a statement. “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.”
This story was originally published by Canadian Insurance Top Broker.