Head of Surety Underwriting

Job Description:
A specialty insurer that delivers customized surety and casualty solutions is seeking a Head of Surety Underwriting. The Head of Surety Underwriting will lead the strategic direction, underwriting performance and operational execution of the surety business. This dynamic leader will oversee all aspects of the global surety, driving the organic growth in the United States, and expansion to Canada and Australia. The Head of Surety will be responsible for the reclamation and decommissioning of surety bonds, as well as other commercial, contract, and specialty surety. In consultation with senior management, the successful leader will also develop and execute the reinsurance strategy, while ensuring all surety operations meet internal controls, audit standards, and regulatory requirements. This is a retained search.

Responsibilities:

• Delivers global leadership strategies, develops innovative products to expand surety offerings, and builds and maintains broker and client relationships

• Manages the financial performance of the surety business, including premium growth, loss ratio, expense management, and risk diversification and profitability targets

• Oversees all surety claims, including default investigations, claim settlements and recoveries; ensures timely, fair and cost-effective resolutions while supporting loss mitigation strategies, and monitors claim trends and alignment between underwriting and claims practices

• Attracts, develops and retains a highly qualified team of underwriters and analysts

Requirements:

• Strong experience in the commercial surety industry with a track record of building and managing profitable surety portfolios across multiple sectors

• Demonstrated success in senior leadership with full P&L responsibility

• Strong understanding of reinsurance markets, treaty structures, facultative placements and capital management principles

• Proficient in underwriting governance, pricing strategy and risk assessment

• Well-versed in the regulatory landscape and market dynamics of the North American and/or Canadian surety market

• Excellent negotiation skills

• Experience in the natural resources sector and contracts (preferred)