SiriusPoint has announced its new partnership with Stockholm-based Nordic Marine Insurance (Nordic Marine), which will primarily focus on writing Hull & Machinery (H&M), Yacht Owners Charter Cancellation and Marine Delay business.
Founded in 2012, Nordic Marine is an insurance company providing niche insurance products to the global maritime industry and offers mainstream marine covers through its strong partnerships with major reinsurers.
It is the second managing general agent (MGA) to have emerged through SiriusPoint International’s MGA Centre of Excellence, which launched this year to deliver a collaborative onboarding experience for new MGA partners.
Rob Gibbs, President & CEO, SiriusPoint International, said: “MGA distribution is a core part of SiriusPoint international’s growth strategy. We are delighted to have established a partnership with Nordic Marine, whose unrivalled and highly skilled underwriting expertise fits perfectly with our plans to grow the marine business across our international platform.
According to SiriusPoint, the deal reinforces the re/insurer’s highly targeted strategy to develop MGA partnerships based on income, risk appetite alignment and synergy with the company’s underwriting expertise, vision and values.
Gibbs continued: “I am particularly proud that SiriusPoint International’s MGA Centre of Excellence has successfully onboarded a new expert partner that will strengthen our distribution, international profile and global footprint.
“Our international MGA approach mirrors the Company’s North American programs structure and enables operational efficiencies and access to expertise across the Company’s global platform, allowing partners to benefit from our ‘One SiriusPoint’ ethos.”
Dan Lennhammer, Managing Director, Nordic Marine Insurance, commented: “We are very pleased to have agreed a partnership with a major global re/insurer of SiriusPoint’s stature and strength.
“SiriusPoint’s growing marine capabilities and capacity, combined with our highly niche marine underwriting knowledge and experience, will enable us to focus on providing customised insurance solutions in our core markets around the world.”
SiriusPoint’s Marine team works with both local and global marine insurers and brokers to deliver solutions to support clients’ risk appetites and coverage requirements, while its Marine Reinsurance offering includes liability arising from maritime activity and coverage associated with the transportation of goods