Specialty insurance provider Trisura Group has named Terry Michalakos as senior vice president of North American surety.
The Toronto-headquartered company said Michalakos’ appointment is part of Trisura’s plans to participate in surety bond requirements to support its substantial infrastructure commitments in Canada and the US.
Michalakos has established a reputation as a seasoned executive in the North American surety marketplace. He has over two decades of industry experience, including a solid surety background across all industry segments in North America and other parts of the world. He also has experience as a broker.
Michalakos’ most recent role involved leading surety operations for the second-largest surety writer in Canada. His new position at Trisura will see him responsible for supporting surety teams across North America to underwrite strategic opportunities.
“Trisura is a leader in surety in Canada with the ambition and resources to grow our platform across North America,” said Chris Sekine, president and CEO of Trisura Canada. “Adding Terry to our team will be impactful as we expand our high-quality surety portfolio both in Canada and the US.”
Last month, Trisura Group announced it had signed an agreement to acquire a small Treasury-listed surety firm in the US.
President and CEO David Clare had called this move an “important step” to the company’s growth strategy in America, noting that the “relatively small company” will be crucial to establishing a more significant presence in the US surety market.
“The Treasury listing provides access to a broader, more diversified and an attractive array of bonding opportunities. It also allows us to gain traction with our distribution partners,” Clare said.
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