Reinsurance News
SiriusPoint
Pen Underwriting announces strategic partnership with SiriusPoint
19th April 2024
Managing general agent (MGA) Pen Underwriting has announced a new strategic partnership with global re/insurer SiriusPoint, in support of the specialist housing association sector, with a long-term capacity deal. According to the announcement, the multi-year agreement between the two firms will see SiriusPoint provide 100% capacity for Pen’s specialist social housing practice, ... Read the full article
SiriusPoint and NIP Group to form E&S underwriting platform
21st March 2024
Bermuda-headquartered SiriusPoint Ltd., a global specialty re/insurer, has strategically partnered with NIP Group, a specialty insurer, to establish a new Excess and Surplus (E&S) program underwriting platform. This collaboration aims to cater to the unique requirements of top landscaping companies in the US, with all-year services including landscape construction and snow ... Read the full article
SiriusPoint hires Christopher Larson as Global Head of Casualty
4th March 2024
SiriusPoint Ltd., the global specialty re/insurer, has announced a series of key leadership appointments within global underwriting, including Christopher Larson joining the firm as Global Head of Casualty, based in New York, At the same time, the company has also hired David Godlis as Underwriting Strategy and Analytics Lead, based in ... Read the full article
SiriusPoint returns to core underwriting profitability in 2023 with CoR of 89.1%
21st February 2024
Bermuda-based specialty insurer and reinsurer, SiriusPoint, has reported a core combined ratio of 89.1% in its full year 2023 results, marking a return to core underwriting profit after a combined ratio of 101.6% in 2022. For the year, core underwriting income rose considerably, from a loss of $34.8 million in 2022 ... Read the full article
SiriusPoint and Ryan Specialty Nordics forge strategic partnership
12th February 2024
SiriusPoint Ltd., a global specialty insurer and reinsurer, announced a strategic collaboration with Stockholm-based Managing General Underwriter (MGU), Ryan Specialty Nordics AB. This partnership marks a significant step towards enhancing insurance coverage for onshore windfarms, particularly in Sweden, and extends to a comprehensive package tailored for small to medium-sized enterprises, encompassing ... Read the full article
New Energy and Marine hires support SiriusPoint growth plans
5th February 2024
Speciality re/insurer SiriusPoint has announced a number of appointments to its Marine and Energy teams, including Chris Fenn’s as Head of Marine and John Hopper as Head of Energy. SiriusPoint stated: “The appointments sharpen the Company’s focus on the strategic growth of its Marine and Energy business lines, and strengthen its ... Read the full article
SiriusPoint, Riverstone Intl., Enstar Group & more rule out insuring EACOP
19th January 2024
A number of organisations have officially ruled out involvement in the controversial East African Crude Oil Pipeline (EACOP) project, including re/insurance market players SiriusPoint, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock. 28 re/insurers have now declared they will not offer insurance for EACOP because of the significant ... Read the full article
SiriusPoint addresses ownership shift amidst CMIG International Holding’s receivership
14th December 2023
Global specialty insurer and reinsurer, SiriusPoint Ltd., has responded to the recent development concerning CMIG International Holding Pte Ltd (CMIH), the parent company of CM Bermuda—a key shareholder with 33% ownership and 9.9% voting rights in SiriusPoint. CMIH has entered private receivership as reported, a move initiated by its lenders in ... Read the full article
SiriusPoint and Nirvana Insurance announce new partnership
12th December 2023
Nirvana Insurance, an AI and Technology-powered insurance provider specialising in US commercial auto insurance, has entered into a new strategic partnership with specialty re/insurer SiriusPoint to expand its offering with a new non-fleet program. Patrick Charles, Head of North America Insurance at SiriusPoint, commented: “We have been providing capacity to Nirvana ... Read the full article
SiriusPoint strengthens footprint in professional liability market with ProVerity partnership
6th December 2023
Global specialty re/insurer SiriusPoint and program administrator ProVerity Underwriters have strategically partnered to develop customized solutions for the professional liability market. Founded in 2023, Philadelphia domiciled ProVerity combines its underwriting experience and expertise in complex risks to provide specialty products to underserved areas of professional liability business. Products include miscellaneous professional, architects ... Read the full article
Alex Hardy named Director of Sales & Distribution for SiriusPoint’s international business
14th November 2023
Global specialty re/insurer, SiriusPoint Ltd., has appointed Alex Hardy as Director of Sales & Distribution for its International business. SiriusPoint confirmed that Hardy will join the firm on December 4, 2023. He will be based in London, and will report to Rob Gibbs, President & CEO, SiriusPoint International. Overall, Hardy brings over two ... Read the full article
S&P revises SiriusPoint ratings outlook to ‘Stable’
14th November 2023
Global specialty re/insurer SiriusPoint, has had its ratings outlook revised from ‘Negative’ to ‘Stable’ by S&P Global Ratings (S&P). According to the announcement, this move reflects the credit rating agency’s” expectation that SiriusPoint will continue to post strong and improving underwriting results in 2023-2025, with combined ratios around 95% and capital ... Read the full article
SiriusPoint’s combined ratio hits 88% in Q3, generates $43m underwriting profit
9th November 2023
Specialty insurer and reinsurer, SiriusPoint Ltd. has posted a combined ratio of 88% for the third quarter of 2023, compared to last year's 107.7%, while also reporting a net income of $58 million for the same period. In Q3, the company's core income totaled $50 million, which includes an underwriting income ... Read the full article
Parameter Climate completes buyout of SiriusPoint stake
1st November 2023
Climate risk advisory, distribution, and analytics firm, Parameter Climate, has announced a management buyout of its seed investor, SiriusPoint, two years after launch. SiriusPoint acquired a significant ownership stake in Parameter Climate back in October of 2021 as part of a strategic partnership between the two firms. Now, following the ... Read the full article
SiriusPoint and MGA Banyan Risk extend strategic partnership
27th October 2023
Global specialty insurer and reinsurer SiriusPoint and Bermuda-based MGA Banyan Risk have announced an extension of their partnership. The deal begins a three-year extension of the commercial relationship between Banyan and SiriusPoint and concludes the 100% transfer of ownership from SiriusPoint back to the founding organisation. Banyan was established in partnership ... Read the full article