Reinsurance News
SiriusPoint
Compre acquires SiriusPoint legacy portfolio for $417mn
8th November 2021
International specialist legacy group, Compre, has completed the acquisition of a $417 million legacy liability portfolio from SiriusPoint, having received all necessary regulatory approvals. The transaction, which was announced in August, structured as a loss portfolio transfer, has been underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company. The portfolio ... Read the full article
SiriusPoint’s Q3 combined ratio deteriorates on higher cat losses
4th November 2021
Specialty insurer and reinsurer, SiriusPoint Ltd., has announced a combined ratio of 152% and a net underwriting loss of $266 million for the third quarter of 2021, driven largely by the impacts of Hurricane Ida and the European floods in July. Year-on-year, SiriusPoint's underwriting result has deteriorated further from the $29.7 ... Read the full article
SiriusPoint enters strategic partnership with Parameter Climate
22nd October 2021
Global specialty insurer and reinsurer, SiriusPoint Ltd., has acquired a significant ownership stake in full-service climate underwriting and distribution advisory firm, Parameter Climate, as part of a strategic partnership between the two companies. As part of the deal, SiriusPoint will also provide multiyear capacity and paper, with additional capacity secured from ... Read the full article
SiriusPoint adds Bobby Heerasing to newly-created leadership role
12th October 2021
Global specialty re/insurer SiriusPoint has announced the addition of Bobby Heerasing to its senior leadership team as Head of International Strategic Business Development, a newly-created role. Heerasing will be responsible for the strategy and development of SiriusPoint International’s growth objectives, managing strategic partnerships with key industry partners and clients, and helping ... Read the full article
SiriusPoint recruits Head of Americas P&C Insurance from Zurich
27th September 2021
Specialty re/insurer SiriusPoint has announced the appointment of Patrick Charles as Head of Americas Property and Casualty (P&C) Insurance. Charles joins from Zurich Insurance Group, where he held North American leadership roles in underwriting and strategy spanning the past decade. Prior to Zurich, he spent time at McKinsey & Company, Alliance Bernstein ... Read the full article
SiriusPoint names Justin Brenden as Chief Actuary
24th September 2021
Specialty re/insurer SiriusPoint has appointed Justin Brenden to the role of Chief Actuary. In his new role, Brenden will lead SiriusPoint’s actuarial organisation, with responsibility for global reserving and aligning pricing to drive to the Company’s objective of improving underwriting profitability. He will be based in Bermuda and report to SiriusPoint Chief ... Read the full article
Corvus, SiriusPoint announce investment & underwriting capacity partnership
16th September 2021
Corvus Insurance, a provider of smart commercial insurance products, has partnered with specialty re/insurer SiriusPoint, via a strategic investment and multi-year underwriting capacity partnership that will support existing and future commercial insurance product offerings. The partnership’s first program, with leading program management solution provider R&Q’s Accredited acting as the fronting insurer, ... Read the full article
SiriusPoint expects July flooding in Europe to dent its Q3 result by up to $100mn
9th September 2021
International specialty re/insurer SiriusPoint has updated its estimated third quarter losses arising from the European floods in July 2021. The flooding occurred in Germany’s North Rhine-Westphalia, Rhineland-Palatinate, and Bavaria and Saxony regions, as well as Belgium, France, Luxembourg, and the Netherlands from July 13th to 18th. Following an original loss estimate of ... Read the full article
SiriusPoint bolsters underwriting team with Pierre Favre
6th September 2021
International specialty re/insurer SiriusPoint has announced that Pierre Favre has joined the company as a Zurich based Senior Underwriter. Favre will report to Bernard Hoge, Vice President, Manager Credit, Bond & Political Risk Reinsurance while focusing on developing strong relationships with brokers and clients to grow SiriusPoint’s book. He has 25 years' ... Read the full article
SiriusPoint improves CR amid remediation drive
6th August 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has reported net income of $64.5 million in the second quarter of 2021. The company also improved its combined ratio to 92.8%, from 99.8% in Q2 of 2020, as it focused on remediation and ... Read the full article
Compre to acquire SiriusPoint legacy portfolio for $417mn
6th August 2021
Compre, the international specialist legacy group, and SiriusPoint have reached an agreement for Compre to acquire a $417 million portfolio of legacy liabilities. The transaction is structured as a loss portfolio transfer and will be underwritten by Compre's class 3A Bermudian reinsurer, Pallas Reinsurance Company Ltd. (Pallas Re). The portfolio in question ... Read the full article
SiriusPoint launches specialty MGA Banyan Risk with Usher-Jones
8th July 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has announced the launch of a new managing general agent (MGA) that will underwrite Directors & Officers (D&O) business, called Banyan Risk. Banyan has been established by Founder and CEO Tim Usher-Jones in partnership ... Read the full article
SiriusPoint’s Q1 combined ratio strengthens to 96.6%
11th May 2021
SiriusPoint Ltd. has reported net income of $130.9 million and a combined ratio of 96.6% for the first quarter of 2021, as catastrophe losses reached $5.7 million in the period. Net income of almost $131 million compares with a net loss of more than $183 million for the prior year quarter. At ... Read the full article
SiriusPoint hires Darryl Siry as Chief Technology Officer
4th May 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has appointed Darryl Siry as Chief Technology Officer. Siry will report to Prashanth Gangu, Chief Operating Officer and President of Insurance and Services, with his position taking place place effective immediately. He will be responsible ... Read the full article
SiriusPoint hires Larry Hallett as SVP, Casualty Underwriting
28th April 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has appointed Larry Hallett as Senior Vice President (SVP) of Casualty Underwriting. Hallet will report to Warren Trace, Head of US and Canada, Americas Reinsurance with a focus on casualty underwriting, including traditional and ... Read the full article
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