Breaking News
Munich Re Specialty Insurance Introduces Two Surety Solutions
Bolstering the offerings it provides to a wide-ranging customer base, Munich Re Specialty Insurance (MRSI) is now offering Contract and Commercial surety bonds. This marks Munich Re’s initial foray into these primary surety markets, as the company has been a longtime provider of U.S. Customs Bonds and surety reinsurance.
Available in all 50 U.S. states and Puerto Rico – and sold through MRSI’s retail broker partners – the bonds are backed by Munich Re’s financial strength, underscored by a U.S. Treasury Listing of USD 429 million. Single bonds will be issued up to USD 100 million and aggregate programs up to USD 250 million. Larger issuances may be available on a case-by-case basis.
“Our surety bond offerings address the needs of a wide range of our clients, all of whom continue to operate in a dynamic market environment,” said David Pesce, MRSI’s Head of Surety, a 35-plus-year surety executive who joined MRSI in June 2021 to lead the company’s expansion into Contract and Commercial surety. “Along with our team of specialized, responsive professionals, I look forward to addressing the needs of all those who will be utilizing these bonds.”
Pesce added, “Unlike some companies in the surety market, we empower our underwriters to be nimble in the market, while they execute our underwriting strategy. This results in faster, better decisions for brokers, enabling them to better serve their clients.”
People In This Post
Companies In This Post
- Tide to Launch Connected Insurance for SMBs Read more
- Market Backs 3-Year LIMOSS/Vitesse FCP Contract to Improve Treasury Management and Claims Payments in the Lloyd’s Market Read more
- Mox Unveils Travel Pick & Go: Smart Insurance for Modern Travellers Read more
- Eleos Life Launches AI Voice Agent to Deliver 24/7 Customer Support Read more
- Onics Targets Challenging UK Home Insurance Market Following Nordic IoT Solutions Success Read more
Tide to Launch Connected Insurance for SMBs
Tide is launching Tide Insurance for SMBs, enabling Tide members to access tailored business insurance directly through the Tide app
Market Backs 3-Year LIMOSS/Vitesse FCP Contract to Improve Treasury Management and Claims Payments in the Lloyd’s Market
The Lloyd’s Market Association (LMA), LIMOSS, and Vitesse have announced the signing of a new contract to continue the market-wide FCP Service for a minimum of three years
Mox Unveils Travel Pick & Go: Smart Insurance for Modern Travellers
Mox Bank launched Travel Pick & Go, a customisable travel insurance solution designed to empower every traveller’s unique journey
Eleos Life Launches AI Voice Agent to Deliver 24/7 Customer Support
Eleos Life is proud to announce the launch of its innovative AI voice agent, designed to provide instant, around-the-clock assistance
Onics Targets Challenging UK Home Insurance Market Following Nordic IoT Solutions Success
Onics, a leading Nordic Internet of Things (IoT) solutions provider, has announced its launch into the UK home insurance market
Pro Global Announces the Launch of Pro Legal to Streamline Complex Claims Litigation
Pro Global (“Pro”), a leading trusted advisor for the specialist insurance sector, is pleased to announce the launch of its own Solicitors Regulation Authority (SRA) registered law firm, Pro Legal Solutions Ltd (“Pro Legal”), to streamline complex claims litigation.
openIDL Launches First-Ever Free and Open Production-Ready Insurance Data Standard: openIDS Homeowners Standard v.1.0
openIDL announced the release of the first-ever free openIDS (open Insurance Data Standards)
Tide to Launch Connected Insurance for SMBs
Tide is launching Tide Insurance for SMBs, enabling Tide members to access tailored business insurance directly through the Tide app
Market Backs 3-Year LIMOSS/Vitesse FCP Contract to Improve Treasury Management and Claims Payments in the Lloyd’s Market
The Lloyd’s Market Association (LMA), LIMOSS, and Vitesse have announced the signing of a new contract to continue the market-wide FCP Service for a minimum of three years
Mox Unveils Travel Pick & Go: Smart Insurance for Modern Travellers
Mox Bank launched Travel Pick & Go, a customisable travel insurance solution designed to empower every traveller’s unique journey
Eleos Life Launches AI Voice Agent to Deliver 24/7 Customer Support
Eleos Life is proud to announce the launch of its innovative AI voice agent, designed to provide instant, around-the-clock assistance
Onics Targets Challenging UK Home Insurance Market Following Nordic IoT Solutions Success
Onics, a leading Nordic Internet of Things (IoT) solutions provider, has announced its launch into the UK home insurance market
Pro Global Announces the Launch of Pro Legal to Streamline Complex Claims Litigation
Pro Global (“Pro”), a leading trusted advisor for the specialist insurance sector, is pleased to announce the launch of its own Solicitors Regulation Authority (SRA) registered law firm, Pro Legal Solutions Ltd (“Pro Legal”), to streamline complex claims litigation.
openIDL Launches First-Ever Free and Open Production-Ready Insurance Data Standard: openIDS Homeowners Standard v.1.0
openIDL announced the release of the first-ever free openIDS (open Insurance Data Standards)