Specialty insurer SiriusPoint is now live
SiriusPoint , an international specialty insurance and reinsurance company, has launched with over $3 billion in initial capital. The Bermuda-based company has been formed as the result of the previously announced merger between Third Point Reinsurance , a specialty reinsurer, and Sirius International Insurance Group , a global multi-line insurer and reinsurer.
SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and are licensed to operate in Bermuda, the US, Sweden, the UK, Belgium, Switzerland, Canada and Singapore.
“I am delighted to announce the launch of SiriusPoint. This is a strategic union of two highly complementary organizations. SiriusPoint is an opportunity to leverage our combined strengths and re-focus our organization on profitability, innovative partnerships, and solutions. Our breadth of footprint combined with the ability to be nimble and responsive will be truly differentiating. We aspire to be a disruptive force in the industry and drive technology innovation – with skilled underwriting at the core of everything we do. We have set a goal to challenge the status quo and define new ways of conducting business with diversity of thought and expertise. I am very excited about our future. We are building a company and a culture we can be proud of.” – Sid Sankaran, Chief Executive Officer and Chairman of SiriusPoint.
SiriusPoint is built around a global platform that provides insurance and reinsurance solutions services to clients and brokers in almost 150 countries with access to admitted and non-admitted paper in Europe, the US, Bermuda, and Lloyd’s of London. A new division, Insurance and Services, has been formed to seek out strategic investment and partnership opportunities.
SiriusPoint’s insurance lines include Environmental, Property, Energy, Workers’ Compensation, and Aviation and Space, while the company’s reinsurance lines include: Life, Accident and Health, Property, Marine and Energy, Casualty, Aviation and Space, and Credit and Bond. SiriusPoint also offers Runoff solutions.