Reinsurance News
SiriusPoint
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
SiriusPoint partners with MGA Nordic Marine Insurance
18th September 2023
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 ... Read the full article
SiriusPoint hires Stephen Smyth as Head of Marine in London
15th September 2023
Global specialty insurer and reinsurer SiriusPoint has named Stephen Smyth as Head of Marine in London. Smyth is set to join the firm on October 16th and will be the Active Underwriter for Syndicate 1945, subject to Lloyd’s approval. He is also tasked with supporting SiriusPoint’s Stockholm-based marine team as he ... Read the full article
With renewals approaching it is important for reinsurers to maintain discipline: SiriusPoint
12th September 2023
In a complex risk environment, and with renewals approaching, it is important for reinsurers to maintain discipline, said David Govrin, SiriusPoint’s Chief Underwriting Officer, at the Rendez-Vous de Septembre in Monte Carlo. “Market conditions for reinsurance have steadily improved in 2023. We are seeing improved economics for property cat, as well ... Read the full article
SiriusPoint names Anthony Shapella as Deputy Chief Underwriting Officer
17th August 2023
Global specialty insurer and reinsurer SiriusPoint has appointed Anthony Shapella as Deputy Chief Underwriting Officer, effective from the 5th of September, 2023. Shapella joins SiriusPoint from AIG, where he held several senior roles throughout his decade tenure. These include Global Head of Portfolio Analytics, Chief Risk Officer for Financial and Liability Lines ... Read the full article
SiriusPoint & hedge fund boss Daniel Loeb enter standstill agreement
10th August 2023
Global specialty insurer and reinsurer SiriusPoint has entered into a standstill agreement with Third Point CEO Daniel S. Loeb following the conclusion of exploratory discussions related to Loeb's potential acquisition of the firm. According to SiriusPoint, the agreement provides that Loeb will not, subject to certain limited exceptions, make a take-over ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
