Reinsurance News
SiriusPoint
SiriusPoint’s CR hits 89% in Q2, net income reaches $109.9m
2nd August 2024
In their results for the second quarter of 2024, SiriusPoint's combined ratio deteriorated six points year on year to 89%, compared to the previous year's 83%, driven primarily by lower favorable prior year loss reserve development. The company also posted a consolidated underwriting income of $65.1 million, a notable decrease compared ... Read the full article
SiriusPoint forms new strategic partnership with Hellenic Hull
29th July 2024
SiriusPoint Ltd., a global insurer and reinsurer specialising in niche markets, and Hellenic Hull Management (HMA), a marine hull and machinery underwriter in Greece and Cyprus, have announced a strategic partnership. HMA has been influential in the Greek and Cypriot shipping sectors for the past 30 years. It is noteworthy for ... Read the full article
SiriusPoint names AXIS’ Inmaculada Gonzalez as Global Head of Ceded Reinsurance
23rd July 2024
SiriusPoint Ltd., a global specialty re/insurer, has appointed Inmaculada Gonzalez as Global Head of Ceded Reinsurance, effective August 19th, 2024. Gonzalez succeeds Habib Kattan, who will leave on December 31st, 2024, following a period of transition. Gonzalez will be based in New York and report to David Govrin, Group President and ... Read the full article
SiriusPoint and Irish MGA partner on property owners program
16th July 2024
Global speciality re/insurer SiriusPoint has announced its partnership with Service First Insurance, a managing general agent (MGA) that provides insurance solutions for the commercial and business markets in the Republic of Ireland. Service First’s distribution partnership with SiriusPoint will enable the MGA to underwrite commercial property risks of up to €10 ... Read the full article
Williams becomes CRO for SiriusPoint International Managing Agency
9th July 2024
Global specialty re/insurer SiriusPoint has appointed Anthony Williams as Chief Risk Officer for SiriusPoint International Managing Agency (SIMA) and its International business, effective August 19, 2024. Williams joins SiriusPoint with over two decades of experience working across multiple sectors in the insurance industry, including insurance carriers, the MGA sector, and the ... Read the full article
SiriusPoint and Tara Hill form strategic E&S portfolio partnership
2nd July 2024
SiriusPoint, a global specialty re/insurer, and Tara Hill Insurance Services, a newly launched Excess and Surplus (E&S) program administrator, have formed a strategic partnership. As part of the Cirrata Group, Tara Hill was established to develop an E&S portfolio focusing on private Management Liability and Miscellaneous Professional Liability coverages for ... Read the full article
SiriusPoint announces security program partnership with MGU Euclid Security
28th June 2024
Global specialty re/insurer SiriusPoint has announced it has become the sole carrier partner for Euclid Security’s Liability program. The company is a boutique managing general underwriter (MGU) specialising in security industry risks. Its Liability program covers security services, alarm services, and fire suppression protection. Through the program, Euclid Security will underwrite Commercial ... Read the full article
SiriusPoint names Susan Cross as new Board Director
29th May 2024
Bermuda-domiciled re/insurer SiriusPoint Ltd has appointed Susan Cross as Board Director, effective May 24th, 2024. The addition of Cross to the SiriusPoint Board brings the total number of members to 10. Cross is an industry veteran with over 40 years of experience, focusing on developing and leading actuarial and analytical functions to ... Read the full article
SiriusPoint names Jim McKinney as CFO
24th May 2024
Bermuda-domiciled re/insurer SiriusPoint Ltd. has appointed Jim McKinney as its new Chief Financial Officer (CFO), effective June 3rd, 2024. McKinney replaces current CFO Steve Yendall, and will have a direct reporting line to CEO Scott Egan, as a member of SiriusPoint’s Executive Leadership Team. "We thank Steve for his leadership of our ... Read the full article
Michel to head Distinguished and SiriusPoint Inland Marine insurance program
22nd May 2024
Distinguished Programs, a US insurance program manager, has partnered with specialty re/insurer SiriusPoint for its Inland Marine insurance program. The new program, to be led by Eric Michel will offer tailored coverage for a focused segment of Inland Marine exposures, such as Motor Truck Cargo and Transportation, Contractors’ Equipment, Builders’ Risk, ... Read the full article
SiriusPoint backs MGA RAM Group to enhance insurance products
2nd May 2024
Specialist Managing General Agent (MGA), Risk Assurance Management Ltd (RAM) has partnered with Shepherds Friendly, one of Britain’s oldest mutual societies, and global re/insurer SiriusPoint, to further develop its existing portfolio of UK Group Risk business. RAM was established in 2001 and currently provides in excess of £10bn worth of cover ... Read the full article
SiriusPoint reports net income of $90.8m for Q1’24
1st May 2024
Bermuda-domiciled SiriusPoint Ltd., a global specialty re/insurer, has reported Q1 2024 net income of $90.8 million, with core income of $62.4 million, which includes underwriting income of $44.3 million and a combined ratio of 91.4%. The core combined ratio deteriorated from 80.5% in Q1 2023, as did the firm's reported combined ... Read the full article
Enstar and SiriusPoint agree $400m LPT
1st May 2024
A wholly owned subsidiary of legacy specialist Enstar Group has agreed a $400 million loss portfolio transfer (LPT) with a subsidiary of Bermuda-based re/insurer SiriusPoint to reinsure a portfolio of Workers’ Compensation business covering underwriting years 2018 to 2023. Under the agreement, SiriusPoint will cede net reserves of roughly $400 million, ... Read the full article
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
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