Pol risk, credit & surety

Surety DWP rose between 11%-12% YoY from Q1 to Q3 2023.

Based in Brazil, the executive also has prior experience at Liberty Seguros, where he was regional manager, and Chubb, where he was LatAm surety underwriting manager.

Highlighting regions where the demand for SRCC products is increasing, stakeholders can tailor offerings more effectively, the PCS said.

The executive will be based in the company's Morristown, New Jersey office.

The executive has over three decades of surety experience in underwriting, consulting, and claims roles, including a stint as surety claims counsel.

American has been in the surety market for over 30 years and upon closing will become Core Specialty’s surety division with two initial product lines, bail bonds and commercial surety bonds.

The carrier has appointed Scott Bailey as vice president of field operations for contract surety, among seven recent hires.

Rising counterparty risk from economic slowdown will support prices and growth.

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.

The firm expects to obtain all regulatory approval to close the US deal over the next three to four months.

The carrier will look to support green energy projects in developing nations.