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MSIG USA Launches Surety Business
MSIG USA today announced the launch of its Surety business, offering Commercial and Commercial Contract Surety solutions to brokers and clients across the U.S.
The launch brings together MSIG USA’s A+, Class XV financial strength and global reach with specialized surety expertise and a data-driven approach to underwriting. MSIG USA is also a U.S. Treasury Listed Surety with a maximum underwriting limitation of $124,003,000 per bond, supporting its ability to meet the needs of organizations with a range of financial and contractual obligations.
“The surety market continues to grow, creating an opportunity to respond to evolving needs from our brokers and their clients,” said Daniel Riordan, SVP, Political Risk, Credit & Surety at MSIG USA. “Surety is also a natural extension of our Political Risk and Credit capabilities, building on our expertise in complex financial and contractual risks as we continue to expand our specialty business.”
The business is led by Patrick Dougherty, Head of Surety, who brings nearly two decades of experience across underwriting, distribution and business leadership. Dougherty joined MSIG USA after serving as Senior Director of Surety at Willis Towers Watson. Previously, he served as Head of Commercial Bond at AXA XL and held leadership roles at Nationwide Mutual Surety and Liberty Mutual Surety.
Dougherty is joined by Doug Schmude, Underwriting Director; Matthew Cook, Underwriting Director; Alexander Keel, Senior Underwriter; and Charles Busch, Underwriter, establishing a team with deep experience across commercial surety and underwriting.
“As clients take on increasingly complex financial and contractual obligations, the role of a surety partner extends well beyond providing a bond,” said Dougherty. “We want to understand where our clients are headed and bring together underwriting experience and data-driven insights to structure solutions that support their objectives and help them create opportunities for long-term growth.”
The Surety launch is part of MSIG USA’s broader strategy to become a market-leading, data-driven specialty insurer. By expanding its capabilities across Political Risk, Credit and Surety, MSIG USA continues to build specialized solutions for organizations navigating increasingly complex financial and business environments.
For more information about MSIG USA Surety, visit https://www.msigusa.com/surety/.
