Reinsurance News
SiriusPoint
Catastrophe’s dent SiriusPoint’s 2021 result as re-underwriting continues
25th February 2022
Bermuda-based carrier SiriusPoint has fallen to a net loss of $140 million in the fourth quarter of 2021 but reported income of $45 million for the full year, as catastrophe losses dented the company's underwriting performance. Across the business, SiriusPoint has announced core underwriting income of $34.7 million in Q4 and ... Read the full article
SiriusPoint recruits Zurich’s Price as Head of Travel for A&H
9th February 2022
Global specialty insurer and reinsure SiriusPoint has announced the appointment of Christopher Price as Head of Travel for Accident & Health (A&H). Based in London, Price joins the company from Zurich Insurance Group, where he was most recently Head of Travel & Accident (EMEA). He has previously held senior positions with ACE, ... Read the full article
Shams Patel named Chief Pricing Actuary at SiriusPoint
27th January 2022
Global specialty insurer and reinsure SiriusPoint has announced the appointment of Shams Patel to the role of Chief Pricing Actuary. Patel joined SiriusPoint in 2008 and most recently held the position of Head of Pricing and Business Planning in the UK. As Chief Pricing Actuary, he will lead pricing strategy across SiriusPoint’s ... Read the full article
SiriusPoint invests into Honeycomb
21st January 2022
SiriusPoint has announced an investment into technology firm Honeycomb. The investment is part of Honeycomb’s latest round of funding, which has seen the firm raise $19m. The additional funds will reportedly be used to further deepen the company’s technological moat and help it expand into multiple additional states in the US. According ... Read the full article
Net premiums rise for reinsurers in Bermuda
20th January 2022
The net premiums written for a group of eight reinsurers based in Bermuda rose by 18.1% through 9m21. The figure was supplied by Fitch in one of its latest reports. The company suggested that the growth was driven by rate increases, plus growth in casualty and specialty writings. Among the eight reinsurers—Arch ... Read the full article
SiriusPoint invests in crypto data & tech provider Lukka
19th January 2022
Global specialty re/insurer SiriusPoint has announced a new investment into Lukka, an institutional crypto data and software provider. Lukka raised $110 million in its latest round of financing, with SiriusPoint acting as one of the lead investors. The company says this latest investment will enable it to expand its offering to institutional ... Read the full article
SiriusPoint promotes Ari Chester as Warren Trace retires
10th January 2022
Specialty insurer and reinsurer SiriusPoint Ltd. has promoted Ari Chester to Head of US and Canada Reinsurance, succeeding Warren Trace following his retirement after 38 years of service at Sirius Group and predecessor firms. Chester transitions into his new role from Chief Operating Officer (COO), Americas Reinsurance at SiriusPoint, having joined ... Read the full article
SiriusPoint-backed D&O MGA Banyan Risk hires Densham for Canadian arm
22nd December 2021
Banyan Risk Ltd., a Bermuda-based Managing General Agent (MGA) that launched earlier this year with the backing of international re/insurer SiriusPoint, is expanding its operations to target the Canadian market. Banyan Risk was launched by Founder and CEO Tim Usher-Jones in partnership with SiriusPoint in July and has a specific ... Read the full article
SiriusPoint eyeing Canadian life with PolicyMe investment
21st December 2021
Global specialty re/insurer SiriusPoint has strategically invested in PolicyMe, a digital life insurer focused on Canadian individual term life policies. PolicyMe aims to modernise and improve the process of buying life insurance by leveraging automation and a streamlined customer experience. SiriusPoint’s strategic investment will be used to help support product development. The transaction ... Read the full article
Digital broker LuckyTruck secures SiriusPoint backing
15th December 2021
LuckyTruck, a digital broker and aggregator has secured an investment and partnership with specialty re/insurer SiriusPoint. LuckyTruck is a niche broker focused on making the purchase of insurance for trucking fleets in the US more transparent, customized, affordable, and convenient. The company aims to disrupt commercial trucking insurance brokerage, offering an alternative ... Read the full article
SiriusPoint helps create new Floridian insurer VYRD
14th December 2021
A new insurer serving homeowners in Florida has launched as a joint venture between specialty re/insurer SiriusPoint and insurtech Bolt. VYRD is set to deploy cutting-edge technology in its efforts to bring more choice and new solutions to customers in Florida. Residents in the state have faced rising prices as litigation costs ... Read the full article
Industry needs to reprice large parts of cat business: SiriusPoint’s Sankaran
19th November 2021
Sid Sankaran, Chairman and CEO of SiriusPoint, has argued that the re/insurance industry needs to reprice large parts of its property catastrophe business in order to generate acceptable net returns. Speaking as part of the company’s Q3 earnings call, Sankaran maintained that SiriusPoint remains committed to property reinsurance, but intends to ... Read the full article
SiriusPoint announces Andreas Kull as its new Chief Risk Officer
18th November 2021
Specialty insurer and reinsurer, SiriusPoint Ltd., has added Andreas Kull as its new Chief Risk Officer (CRO), where he will be responsible for oversight of the company's enterprise-wide risk management strategy. The appointment is effective March 1st, 2022, and comes as SiriusPoint continues to bolster its culture of underwriting excellence. Kull will ... Read the full article
Reinsurance industry must remediate, repair and improve: Heerasing, SiriusPoint
16th November 2021
Despite some improvements, the reinsurance sector continues to struggle to produce a meaningful return on capital, and as pressure builds on the impacts of climate change and secondary peril losses, there’s a real need for further rate momentum, according to Bobby Heerasing, Head of International Strategic Business Development, SiriusPoint. With the ... Read the full article
LimitFi enters multi-year partnership with SiriusPoint
11th November 2021
Limit Financial (LimitFi), a managing general underwriter specialising in credit insurance and reinsurance solutions, has entered a multi-year underwriting capacity partnership and a strategic investment with re/insurer SiriusPoint. The partnership will support existing and future credit insurance product offerings and provides LimitFi with committed capacity to execute credit insurance. It will also ... Read the full article
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