SiriusPoint extends industrial partnership with Banyan Threat

Specialty insurer SiriusPoint has introduced an extension of its partnership with Bermuda-based managing basic agent (MGA) Banyan Threat.

This strategic transfer marks the initiation of a three-year extension to their industrial relationship, culminating within the full switch of possession from SiriusPoint again to the unique founders.

The collaboration between SiriusPoint and Banyan was first established in July 2021 when Banyan was based by co-chief govt officers Tim Usher-Jones and Peter Horrobin, with a transparent imaginative and prescient for rising possession by its founders.

“I’m delighted that now we have prolonged our partnership with Banyan. Our partnership represents the continuation of a long-term relationship that displays our shared plans and cultural match. The deal we’re saying at present is per our give attention to decreasing our fairness investments in MGAs however persevering with to stay a robust distribution accomplice to those that align with our danger urge for food, development plans and specialisms. Banyan’s credentials imply we’re excited to proceed to be a robust underwriting accomplice to them over the approaching years,” SiriusPoint CEO Scott Egan mentioned.

“We’re happy to be persevering with our relationship with SiriusPoint, an affirming message that can speed up our development. SiriusPoint has been key in enabling us to execute on our technique and give attention to our data-rich and tech-enabled capabilities. Count on massive information forward as we broaden into different geographies and product traces within the subsequent 12 months. We’ll proceed to succeed by constructing robust relationships with companions like SiriusPoint that share our best-in-class ethos and worth the experience and strategy we carry to making sure our purchasers’ wants are met – swiftly, effectively and creatively,” Usher-Jones mentioned.

What are your ideas on this story? Please be happy to share your feedback beneath.