MSIG USA, the US insurance subsidiary of Mitsui Sumitomo Insurance Group, has appointed Pat Dougherty as Head of Surety, tasking him with overseeing the strategic direction and expansion of the business, reporting to Dan Riordan, Head of Political Risk and Trade Credit.
Dougherty offers close to 20 years of experience in the surety market, covering underwriting, distribution and senior leadership roles.
The company highlighted his track record in developing programmes that support clients’ financial and contractual commitments.
Most recently, he held the position of Senior Director of Surety at Willis Towers Watson, where he advised on complex surety arrangements, shaped go-to-market approaches and collaborated with underwriters to secure capacity for large and intricate risks.
MSIG USA also pointed to his earlier role as Head of Commercial Bond at AXA XL, where he was responsible for the strategic and operational leadership of the surety business.
In that capacity, MSIG USA credited him with increasing premium volumes while maintaining underwriting discipline, as well as introducing bank-fronted solutions, arranging large-scale surety placements and strengthening partnerships with financial institutions.
Earlier in his career, Dougherty held senior positions at Nationwide Mutual Surety and Liberty Mutual Surety, where he built underwriting teams, broadened broker and agent networks and managed sizeable commercial surety portfolios.
“Patrick knows how to build a surety business that delivers for clients and broker partners,” added Riordan. “He brings a strong combination of underwriting expertise, market insight, and the ability to structure tailored solutions that align with clients’ broader financial objectives. That combination will be critical as we establish our surety platform and continue to expand our capabilities across specialty credit and related lines.”
Dougherty will lead the development of its surety platform as part of a broader effort to strengthen its data-led specialty insurance offering. He will work closely with underwriting, distribution and credit teams to implement a consistent and disciplined approach, aimed at supporting clients operating in complex and capital-intensive sectors.
