Reinsurance News
SiriusPoint
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
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