SiriusPoint Worldwide has solid a strategic partnership with Swedish firm Nordic Marine Insurance coverage to boost its distribution profile and footprint throughout the globe.
Below the collaboration, the businesses will concentrate on 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 based mostly on compatibility with its threat urge for food and underwriting capabilities.
SiriusPoint Worldwide president and CEO Rob Gibbs stated: “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 matches completely with our plans to develop the marine enterprise throughout our worldwide platform.
“It additionally aligns with our technique to develop MGA partnerships based mostly on threat urge for food alignment and synergy with the corporate’s underwriting experience, imaginative and prescient and values.
The most recent alliance is the second managing common agent (MGA) partnership to be executed by SiriusPoint below 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 based mostly 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 stated: “SiriusPoint’s rising marine capabilities and capability, mixed with our extremely area of interest marine underwriting information and expertise, will allow us to concentrate on offering customised insurance coverage options in our core markets all over the world.”