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The Navigators Group Inc. has hired David Pesce to launch a surety department.
Based in Iselin, New Jersey, Mr. Pesce is senior vice president of surety at Navigators Management Co., a division of Navigators. The surety division will focus on contract and commercial surety in the small and middle market segments and environmental surety, Navigators said in a Friday statement. Mr. Pesce is currently building his team and plans to add more surety staff, according to a spokeswoman for Navigators.
Most recently, Mr. Pesce was director of surety at AXIS Insurance, according to the statement.
Allianz S.E. has agreed to buy Zurich Insurance Group Ltd.’s Moroccan insurance business for €244 million ($347.9 million), Allianz announced Friday.