QBE Approved by Treasury for $73.5 Million in Surety Bond Capacity

QBE Insurance Corp. (QBEIC) has been approved by the United States Department of Treasury as a Certified Company with an underwriting limitation (also referred to as a Treasury Listing) of $73.5 million per bond. This builds upon a previously approved Treasury Listing for another QBE subsidiary, General Casualty Co. of Wisconsin, at $24.6 million per bond.

Jeffrey S. Grange, president, QBE Specialty, said the additional capacity expands the company’s ability to meet the demands of large private and public projects on a national basis and affirms its long-term commitment to “building a market leading surety platform for our appointed producers and surety customers.”

Matt Curran, SVP, head of QBE Surety added the move enhances the company’s focus on its clients and producers in the middle market contractor segment of the surety industry.

QBE’s portfolio of surety bonds includes contract and commercial bonds that can be tailored to meet a client’s specific business needs. In the U.S., QBE focuses on general contractors, road and heavy equipment contractors, other prime contractors, and major sub-trade contractors. QBE also offers commercial bond support ranging from small license and permit bonds to large corporate commercial bonds. QBE’s Surety team in the U.S. is part of the company’s global surety platform, which includes surety underwriting teams around the world serving customers in Europe, Asia and Australia.

QBE Specialty underwrites risks and provides coverage and services to support the specialized needs of customers across a wide variety of segments and industry sectors. These include accident & health, aviation, cyber, inland marine, financial institutions, healthcare, management liability & professional lines, transactional liability, media & entertainment, trade credit, and surety, for appointed retail and wholesale producers.

QBE North America is part of QBE Insurance Group Limited.

Topics Contractors