Reinsurance News
SiriusPoint
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
SiriusPoint partners with property casualty MGA Eaton Gate
7th August 2023
Global specialty re/insurer, SiriusPoint has announced its partnership with Eaton Gate, a London-based Managing General Underwriter (MGU), which will be primarily focused on UK property casualty insurance business. Eaton Gate writes in excess of £100 million through its group of managing general agents (MGA’s) and is one of the largest MGU/MGAs ... Read the full article
SiriusPoint & Applied Surety Underwriters announce partnership for major expansion
3rd August 2023
Global risk services firm, Applied Surety Underwriters, and SiriusPoint Ltd. have entered into an exclusive partnership aimed to maximize their joint impact in major markets across the world. Both firm's will start with North America to deliver a unique formula of underwriting expertise, capital resources and concerted marketing within the ... Read the full article
SiriusPoint reports improved Q2 2023 combined ratio as reinsurance segment returns to profit
3rd August 2023
Bermuda-based SiriusPoint Ltd. has announced a Q2 2023 consolidated combined ratio of 81.9%, showing almost a 14% improvement year over year, as consolidated underwriting income rose from $38.8 million to $127.3 million. On a core basis, non-GAAP financial measures, the combined ratio improved to 87.7% from 98.3% a year earlier. The ... Read the full article
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