TORONTO, Sept. 30, 2022 (GLOBE NEWSWIRE) — Trisura Group Ltd. (“Trisura”) and The Sovereign General Insurance Company (“Sovereign Insurance”) announce that Trisura has acquired Sovereign Insurance’s insurance business in Canada. To do. The transaction will provide Trisura with access to a portfolio of contract, commercial and developer guarantee accounts that generated more than C$16 million in annual premiums for him in 2021. The acquisition strengthens Trisura’s warranty business in Canada. Sovereign Insurance will exit its Canadian guarantee business and focus more on its core commercial and specialty insurance business.
Chris Sekine, President and CEO of Trisura Canada, said: Richard A. Grant, senior vice president and guarantor at Trisura Canada, added: Together, Trisura and Sovereign Insurance will focus on ensuring a smooth transition for our brokers, their customers and Sovereign Insurance employees. ”
Colette Taylor, COO of Sovereign Insurance, said: “We are confident that Trisura is a well-known and established leader in the guarantee market and a company that shares similar values in its commitment to brokers, clients and employees.”
Trisura Group Ltd. is a specialist insurance provider operating in the areas of assurance, risk solutions, commercial insurance, fronting and reinsurance markets. Trisura has invested in a wholly owned subsidiary through which it conducts insurance and reinsurance business. These businesses are primarily conducted in Canada and the United States. Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol ‘TSU’.
About Sovereign Insurance:
The Sovereign General Insurance Company (Sovereign Insurance) helps Canadian businesses succeed by developing and distributing risk solutions that Canadian businesses trust and value. Sovereign Insurance is passionate about protecting Canadian businesses and their communities and is driven by the belief that experiences matter, whether we are partners, customers or employees. Canadian owned and operated since 1953, Sovereign Insurance is a wholly owned subsidiary of Cooperators General Insurance Company, a leading Canadian provider of multiline insurance products with $9 billion in assets. Sovereign Insurance has six offices across Canada and is rated AM Best A (Excellent). For more information, please visit www.sovereigninsurance.ca.
For more information, please contact:
Director, Marketing and Communications
Trishla Guaranty Insurance Company
Phone: (416) 607-0145
E: [email protected]
Phone: (416) 201-2244
E: [email protected]
Trisura Acquires Sovereign Insurance’s Guarantee Business, The Canadian Business Journal
Source link Trisura Acquires Sovereign Insurance’s Guarantee Business, The Canadian Business Journal