|By PR Newswire||
|March 31, 2014 10:19 AM EDT||
HORSHAM, Pa., March 31, 2014 /PRNewswire/ -- Trevor Hash, a 20-year veteran of the surety bond industry, has been named senior vice president-Surety at specialty insurer Aegis Security Insurance Group, "to help us build upon our strong book of surety business and expand it across the country," Bob Kimmel, Aegis chief executive officer and president of its parent company, K2 Insurance Services, LLC (K2) announced today.
Kimmel said Aegis currently writes $20 million in surety bond business annually, primarily in the northeast United States, focusing on contract and commercial surety.
"Trevor has a successful background in underwriting surety, and has managed branch offices in New England and the Mid-Atlantic region," Kimmel added. "He will open a new Aegis office in Syracuse, N.Y. In the months and years to come, we will pursue a strategy of controlled growth in surety, expanding beyond our Northeast footprint and opening additional branch offices across the country."
Since 2008 Hash has been the bond manager in the Syracuse office of Liberty Mutual Insurance Company, managing surety operations in Syracuse, Boston, New York City and Portland, Maine. Prior to that, he held a similar position with Safeco Insurance, which in 2008 was acquired by Liberty Mutual.
Earlier, he held surety bond underwriting positions with Amwest Surety Insurance Company and with Utica National Insurance Group.
"Aegis has a proven track record of profitability in surety, and I'm looking forward to working with the Aegis staff and business partners in continuing this tradition," Hash said. "In addition, I hope to capitalize on the relationships I've developed to expand the surety business in a controlled, well balanced approach.
"Aegis also has another competitive strength," Hash added. "In addition to its expertise in standard surety business, we have the tools at our disposal to help meet the needs of agents on some of their more challenging business, including nonstandard surety."
Aegis Security Insurance Group has a financial strength rating of A (VII) from A.M. Best Company, and a Treasury listing allowing it to write bonds up to 10 percent of its surplus. "We are actively seeking carrier partners with higher Treasury listings, to enable us to write larger accounts," he said.
Aegis Security Insurance Company was acquired by K2 Insurance Services in April 2013. K2 was formed in 2011 and today includes a group of specialty underwriting companies and managing general agencies. The K2 franchise generated approximately $165 million of gross written premiums in 2013.
K2 was formed with the backing of private equity fund Endeavour Capital, based in Portland, Ore. Additional information is available at www.endeavourcapital.com.
SOURCE Aegis Security Insurance Group
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