Yes to the Best Leadership

executive committee group photo at the 90th anniversary party

Set against the backdrop of the company’s 90th anniversary, Merchants Bonding Company’s leadership spent the year enabling and enacting the plans that resulted from 2022’s intense strategic planning process. Armed with Merchants’ evolved purpose and vision, they facilitated the shift from potential into action, launching the company on the next exciting leg of its journey. The Executive Committee’s stewardship of the company’s original values, as well as their commitment to its boldly envisioned future is apparent, and appreciated. Thanks also go to all of Merchants’ valued partners, without whom the company could never have reached the major milestone of 90 years!

Yes to the Next 90!

What did it mean to be part of Merchants’ leadership team during the 90th anniversary?

When my uncle told me, back in 1996, that he was nominating me to be president of Merchants Bonding Company I was blown away by his confidence in me. Since that moment, my goal was to be a careful steward of the incredible opportunity entrusted to me. It has been an absolute honor and privilege to lead this company up to, and through, our 90th anniversary, and I look forward to continuing the journey into our incredible future.

❖ Larry Taylor – Chairman of the Board & President

Seeing Merchants celebrate our 90th anniversary brought a lot of different feelings. I’m very proud of what’s been accomplished by this little Midwestern company that was started by my great-grandfather. Knowing where we started to where we are today is amazing. I am also very excited to see where we go from here.

❖ Bill Warner, Jr. - Sr. Vice President of Operations & Corporate Secretary

Merchants is celebrating unprecedented growth and profitability, from humble beginnings 90 years ago. Our reputation as the most trusted name in surety is the envy of the industry, and one we continue to uphold as key to our past success and to the legacy we will build over many years to come. I am so excited to see what the future holds for our talented team at Merchants.

❖ Elisabeth Sandersfeld - Chief Financial Officer & Treasurer

We were lucky enough to get the entire company together to celebrate our 90 year anniversary. I love looking at the group photo, which is proudly displayed in our office in West Des Moines. When I look at that incredible group of individuals, I feel very fortunate to be where I am. I see a group that has done amazing deeds and will do things even more impactful for years to come.

❖ David Hewett – Chief Underwriting Officer

Ninety years is a remarkable milestone, a testament to the enduring power of our commitment and values. We built this company on a foundation of common sense surety, ensuring our clients receive reliable, practical solutions, and we fostered a family atmosphere where entrepreneurial spirit thrives. As we enter our ninety-first year, I look ahead with immense pride for the journey we've shared and unwavering excitement for the innovative chapters yet to be written.

❖ Therese Wielage - Chief Marketing & Communications Officer

When I was considering joining Merchants, just a little over a decade ago, I was excited by Larry's growth mindset and the focus on technology and innovation as a growth strategy. Our journey to move Merchants to the front of the pack in terms of technology and differentiation through innovation has been outstanding, and one I look back on with pride, joy and a huge sense of accomplishment.

❖ Brad Rasmussen - Chief Information Officer

I started my career at Merchants Bonding Company in 1998 and helped celebrate 75 years in business in 2008. I am now part of the leadership team at Merchants that recently celebrated 90 years in business. I am proud to have spent my entire career with Merchants and amazed at the growth I have witnessed over the past 25 years.

❖ Jason Dettbarn - Sr. Vice President, National Contract Surety Leader

Reflecting on Merchants Bonding Company’s 90th anniversary it has been a joy and a source of pride to help manage this company through historic growth and transformation over the past years. I believe Merchants Bonding Company is the envy of the industry. Very proud to be a part of it.

❖ Jim Holter - Sr. Vice President, Commercial Surety

It was an honor to be a part of the 90 year celebration and to see 30 of those years in-person. Over those 90 years, Merchants has remained true to its core beliefs and valued a commitment to its employees and the industry. As we look ahead to the long-term future, the people will change but definitely know that Merchants will remain focused on its commitment to be the most trusted team in surety.

❖ Steve Dorenkamp - Sr. Vice President, Specialty Solutions

Merchants’ 90th Anniversary provided a sense of scale – historical context and proportion – for what we’re part of. Kind of like visiting the Grand Canyon; you realize you’re a very small part of a much bigger thing, but in the best way possible. I just felt happy to be a part of something so special.

❖ Jay Farley - Vice President, Claims

I wouldn't choose any other team to celebrate our remarkable 90-year milestone than the exceptional associates at Merchants. Staying true to our values is not just a celebration of our past; it is the compass that guides us through the challenges of tomorrow, ensuring our continued success in the ever-changing landscape of the future.

❖ Stacey Cale - Vice President, Human Resources

Merchants Leadership

Executive Committee

Larry Taylor

Chairman of the Board & President
West Des Moines, Iowa

Bill Warner, Jr.

Sr. Vice President of Operations & Corporate Secretary
West Des Moines, Iowa

Elisabeth Sandersfeld

Chief Financial Officer & Treasurer
West Des Moines, Iowa

David Hewett

Chief Underwriting Officer
West Des Moines, Iowa

Therese Wielage

Chief Marketing & Communications Officer
West Des Moines, Iowa

Brad Rasmussen

Chief Information Officer
West Des Moines, Iowa

Jason Dettbarn

Sr. Vice President, National Contract Surety Leader
West Des Moines, Iowa

Jim Holter

Sr. Vice President, Commercial Surety
West Des Moines, Iowa

Steve Dorenkamp

Sr. Vice President, Specialty Solutions
West Des Moines, Iowa

Jay Farley

Vice President, Claims
West Des Moines, Iowa

Stacey Cale

Vice President, Human Resources
West Des Moines, Iowa

Company Officers

Doug Schnicker

Sr. Vice President, Contract Underwriting
West Des Moines, Iowa

Kirk Rathjen

Sr. Vice President, Contract Underwriting
West Des Moines, Iowa

Aaron Raschke

Vice President, Contract Underwriting
West Des Moines, Iowa

Chris Bachman

Vice President, Contract Underwriting
Phoenix, Arizona

Dan Lengeling

Vice President, Commercial Underwriting
West Des Moines, Iowa

Ed Sipfle

Vice President, Contract Underwriting
West Des Moines, Iowa

Josh Penwell

Vice President, Contract Underwriting
Fort Worth, Texas

Terry Frederick

Vice President, Commercial Underwriting
West Des Moines, Iowa

Tom Dabovich

Vice President, Underwriting Operations
Wheaton, Illinois

Tyson Conley

Vice President, Commercial Underwriting
Austin, Texas

Cody White

Regional Vice President, Contract Underwriting
Dallas, Texas

Ed Hubbard

Regional Vice President, Contract Underwriting
Baltimore, Maryland

Jason Walton

Regional Vice President, Contract Underwriting
Kansas City, Kansas

Matt Skelton

Regional Vice President, Contract Underwriting
Portland, Oregon

Mike Reed

Regional Vice President, Contract Underwriting
West Des Moines, Iowa

Seth Baker

Regional Vice President, Contract Underwriting
Austin, Texas

Connie Stewart

Assistant Vice President, Compliance Officer
West Des Moines, Iowa

Gina Lockwood

Assistant Vice President, Claims
Driftwood, Texas

Merchants Board of Directors

Larry Taylor

Chairman of the Board & President

Bill Taylor

Director

Bill Warner, Jr.

Sr. Vice President of Operations & Corporate Secretary

Brenda Cushing

Director

Don Kemp

Director

Jan Taylor

Director

Jeff Taylor

Director

Melissa Warner

Director

Industry Leadership

Industry Association/Committee Leadership

Larry Taylor

Chairman of the Board & President

Surety & Fidelity Association of America (SFAA) – Past Chairman of the Board
SFAA Foundation – President
National Association of Independent Sureties (NAIS) – Past Chair

Bill Warner, Jr.

Sr. Vice President of Operations & Corporate Secretary

National Association of Independent Sureties (NAIS) – Past Chair
EveryStep Care & Support Services – Board of Trustees, Chair

Elisabeth Sandersfeld

Chief Financial Officer & Treasurer

EveryStep Care & Support Services – Board of Trustees and Audit & Finance Committee
American Institute of CPAs – Member
Iowa Society of CPAs – Member
Women in Surety – Member

David Hewett

Chief Underwriting Officer

The Surety & Fidelity Association of America (SFAA) – Contract Surety Advisory Committee
Associated General Contractors of America (AGC) – Member

Therese Wielage

Chief Marketing & Communications Officer

Women in Surety – Member
BrokerTech Ventures – Merchants Representative
West Des Moines Chamber Foundation – Board of Directors

Brad Rasmussen

Chief Information Officer

RiskStream Collaborative – Surety Advisory Committee and Surety Working Group
BrokerTech Ventures – Merchants Representative
National Association of Surety Bond Producers (NASBP) – Technology Sub-committee
Technology Association of Iowa – Board of Directors

Jason Dettbarn

Sr. Vice President, National Contract Surety Leader

The Surety & Fidelity Association of America (SFAA) – Contract Bond Advisory Committee
National Association of Independent Sureties (NAIS) – Member
National Association of Surety Bond Producers (NASBP) – Member

Jim Holter

Sr. Vice President of Commercial Underwriting

The Surety & Fidelity Association of America (SFAA) – Commercial Surety Advisory Committee
The Surety & Fidelity Association of America (SFAA) – Compliance Commercial Sub-committee
The Surety & Fidelity Association of America (SFAA) – Lead Fiduciary Commercial Sub-committee
National Association of Independent Sureties (NAIS) – Surety School Educator

Steve Dorenkamp

Sr. Vice President, Specialty Solutions

The Surety & Fidelity Association of America (SFAA) - Government Affairs Advisory Committee
The Surety & Fidelity Association of America Surety (SFAA) – Surety Claims Advisory Committee

Jay Farley

Vice President, Claims Manager

The Surety & Fidelity Association of America (SFAA) – Surety Claims Advisory Committee
National Bond Claims Association – Board of Directors

Stacey Cale

Vice President, Human Resources

The Surety & Fidelity Association of America (SFAA) – Diversity & Human Resources Advisory Committee
Iowa Compensation and Benefits Network – Vice President

Tom Dabovich

Vice President, Underwriting Operations

The Surety & Fidelity Association of America (SFAA) – Technology Advisory Committee, Chair

Dan Lengeling

Vice President, Commercial Surety

Vaughan Institute of Risk Management and Insurance – Young Alumni Board of Directors, Chair

Gina Lockwood

Assistant Vice President, Claims

The Surety & Fidelity Association of America (SFAA) – Government Affairs Committee

Michelle Patterson

Commercial Underwriter

National Association of Surety Bond Producers (NASBP) – Commercial Surety Advisory Committee

Industry Association Memberships

In addition to the above, Merchants associates were involved in nearly 100 national, state and local associations throughout the U.S.