Argo Surety increases single bond capacity to $100m; reshuffles key people

Provider of commercial, contract, and international surety bonds Argo Surety has unveiled an increased Treasury listing capacity that means it can consider single bonds up to $100 million.

The company, which is part of the Argo Group, has also increased the support it can offer eligible customers to include an aggregate surety bond program of up to $300 million.

Joshua Betz, president at the surety bond provider, said: “Argo Surety’s success is based on the sheer talent of our underwriters and their ability to connect with distribution partners to identify profitable business.

“Our expanded appetite and our growing team is a direct response to the feedback we’re receiving from distribution partners. There’s increasing demand in the marketplace, and we’re positioned well to fulfill it.”

To ensure the firm can meet this demand it has promoted and hired a number of key people. Amanda Weiss has been promoted to vice president, national underwriting officer and distribution strategy, while Tara Quigley has moved to a role in Argo Pro, the company’s US professional lines business.

Kyle Davis has been promoted to vice president, field management, and Bobby Bang has been hired as director of strategic operations to assist with the day-to-day needs of Argo Surety as the business grows.

The new vice president, Contract, eastern region, will be Steve Parnas, Michelle Stukey has been promoted to underwriting director, leading a new portfolio management team, and Chris Raines has been moved up to the post of underwriting director, Contract, central region.

Chris Bolla has been promoted to assistant vice president, Commercial, west region, Mark Noonan steps up to take the post of assistant vice president, Commercial, southeast region, and Christine Marchetti has been hired as assistant vice president, Commercial, northeast region.

New director of strategic operations Bang has been director of process engineering at Argo Group since 2016. A graduate of West Point Military Academy and Georgia Institute of Technology, he has nearly 20 years’ experience in project management.

His lengthy project-management career has included positions at Brickhouse Resources, Spinnaker International, Recall, and Newell Rubbermaid.

And the new vice president, Contract, eastern region, Parnas, has 25 years’ experience in the surety sector and joins Argo Surety from Zurich North America. At Zurich he was regional vice president for the west region, having started as regional director in 2010. Prior to that, he served at IWG Group. He began his surety career at Travelers in 1994.

Marchetti, the newly appointed assistant vice president, Commercial, northeast region, started her career at Aspen in 2012, where she most recently held a senior underwriter position.

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