SiriusPoint Worldwide has cast a strategic partnership with Swedish firm Nordic Marine Insurance coverage to boost its distribution profile and footprint throughout the globe.
Underneath the collaboration, the businesses will give attention to writing hull and equipment (H&M), yacht homeowners constitution cancellation and marine delay sectors.
Established in 2012, Nordic Marine delivers area of interest insurance coverage choices for the worldwide maritime sector.
Via its collaborations with key reinsurers, the corporate additionally delivers standard marine protection.
This deal is a part of SiriusPoint’s technique to develop MGA collaborations primarily based on compatibility with its threat urge for food and underwriting capabilities.
SiriusPoint Worldwide president and CEO Rob Gibbs mentioned: “MGA distribution is a core a part of SiriusPoint Worldwide’s development technique.
“We’re delighted to have established a partnership with Nordic Marine, whose unrivalled and extremely expert underwriting experience suits completely with our plans to develop the marine enterprise throughout our worldwide platform.
“It additionally aligns with our technique to develop MGA partnerships primarily based on threat urge for food alignment and synergy with the corporate’s underwriting experience, imaginative and prescient and values.
The newest alliance is the second managing normal agent (MGA) partnership to be executed by SiriusPoint underneath its MGA Centre of Excellence.
Unveiled in 2023, the centre aids in forging alliances with new MGA companions.
The marine group of the corporate collaborates with regional and worldwide marine insurers and brokers to ship choices primarily based on the danger appetites and protection wants of its clients.
Its marine reinsurance choices comprise legal responsibility ensuing from maritime exercise and protection linked with items cargo.
Nordic Marine Insurance coverage managing director Dan Lennhammer mentioned: “SiriusPoint’s rising marine capabilities and capability, mixed with our extremely area of interest marine underwriting information and expertise, will allow us to give attention to offering customised insurance coverage options in our core markets world wide.”
