Trisura Acquires Sovereign Insurance’s Guarantee Business
Trisura Group has entered into an agreement with Sovereign General Insurance Company to acquire its insurance business in Canada.
The deal will strengthen Trisura’s Canadian guarantee operations and provide access to a portfolio of contract, commercial and developer guarantee accounts that have generated more than $16 million in annual premiums in 2021.
Chris Sekine, President and CEO of Trisura Canada, said:
Richard A. Grant, senior vice president and guarantor for Trisura Canada, added: Together, Trisura and Sovereign Insurance will focus on ensuring a smooth transition for our brokers, their customers and Sovereign Insurance employees. ”
Sovereign Insurance will further focus on its core commercial and specialty insurance business following its strategic exit from the guarantee business in Canada.
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 Acquires Sovereign Insurance’s Guarantee Business
Source link Trisura Acquires Sovereign Insurance’s Guarantee Business
