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OneBeacon Surety Group, part of OneBeacon Insurance Group Holdings Ltd., will increase its aggregate surety bond capacity for qualifying clients to $250 million, OneBeacon Surety said in a statement Tuesday.
Previously, OneBeacon offered $100 million in surety capacity.
The company also announced changes to its U.S management.
Chad Anderson has been named head of North American surety, effective March 1, to lead surety teams across the U.S. and Canada, which will continue to operate in their local markets as OneBeacon and Intact Insurance, respectively, the statement said. He will be based in New York.
Mr. Anderson was previously the U.S. president of OneBeacon Surety Group.
John Guglielmo has been named head of U.S. commercial surety, effective June 12, and will have operational responsibilities for OneBeacon Surety’s eight regional U.S. offices. He will be based in Blue Bell, Pennsylvania, and report to Mr. Anderson, the statement said.
He was previously senior vice president at OneBeacon Surety, overseeing the mid-Atlantic, Midwest and New England regions, the statement said.
Michael Seff has been named chief underwriting officer for commercial surety in North America, effective June 12. New York-based Mr. Seff will lead North American commercial surety underwriting strategy and support for large exposures and will continue to report to Mr. Anderson.
He was most recently senior vice president of the surety group’s New York Metro, Northwest and Southwest regions, the statement said.
“We are very pleased to offer additional capacity to our customers, as well as provide the leadership structure and alignment to assist and support this growth,” Mr. Anderson said in the statement.
TechAssure Association Inc., a technology insurance brokerage association, has partnered with OneBeacon Technology Insurance to offer educational resources to its members.