Surety Industry Market Update

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This presentation provides a look backward at surety industry statistics and a look ahead at developing trends to provide a snapshot of the Surety market today and where it could be headed tomorrow.  The look backward will address surety market statistics – growth, profitability, and market trends the industry has seen over the past two decades.  The look ahead will touch on emerging risk issues that could impact the surety industry in the coming years. 

Mike Bond

Chief Underwriting Officer – National Accounts

Markel Surety

Michael Bond joined Markel Surety in January of 2021 as Chief Underwriting Officer – National Accounts.  In that role, he oversees the underwriting of accounts requiring surety capacity from $50 million to $500 million.  The National Accounts offering adds to Markel Surety’s well-established track record and existing business in Contract and Commercial Surety.  Markel Surety’s primary mission is to help our partners profitably grow their business through all market cycles.

Prior to Markel Surety, Mr. Bond was Head of Surety for Euler Hermes North America.  Prior to Euler Hermes, Mr. Bond work at Zurich Insurance Company in a variety of executive roles, including the Head of the Zurich Credit & Political Risk team and the Head of Zurich Surety.  As Head of Zurich Surety, he was responsible for a $600 million surety business, which serves contract and commercial surety customers in North America and around the world.

Prior to joining Zurich, Mr. Bond served as a senior insurance officer at Overseas Private Investment Corporation (OPIC), underwriting political risk insurance coverage for projects in a variety of industrial sectors.  Previously, Mr. Bond worked as a municipal development advisor with the U.S. Peace Corps in Honduras and as a project manager with Law Environmental in Atlanta, Georgia.

Mr. Bond is a past member of the Board of Directors of the Surety and Fidelity Association of America (SFAA), the Management Committee of the International Credit Insurance & Surety Association (ICISA) and the Executive Committee of the Pan American Surety Association. Mr. Bond holds a B.S. from Rutgers University, an M.S. from the Georgia Institute of Technology and an M.B.A. from Loyola College. He is fluent in Spanish.  He resides in Olney, Maryland.  He is actively involved in fundraising and advocacy on the behalf of the ALS Association.  

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Surety Industry Market Update
Select the "View On-Demand Recording" button to begin.  |  60 minutes
Select the "View On-Demand Recording" button to begin.  |  60 minutes
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