SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Stockholm-based Nordic Marine Insurance have announced a new strategic partnership.
Founded in 2012, Nordic Marine is a managing general agent that provides niche insurance products to the global maritime industry and offers mainstream marine coverage through strong partnerships with major reinsurers.
This is the second MGA to emerge through SiriusPoint International’s MGA Center of Excellence, which was launched this year to provide a collaborative onboarding experience for new MGA partners.
The partnership with SiriusPoint’s Stockholm-based underwriting team will primarily focus on underwriting hull & machinery (H&M), yacht owners’ charter cancellations, and marine delay business.
SiriusPoint’s marine team collaborates with local and global marine insurers and brokers to deliver solutions to support clients’ risk and coverage requirements, while its Marine Reinsurance offering includes liability arising from maritime activity and coverage related to the transportation of goods.
“MGA distribution is a core part of SiriusPoint’s international growth strategy. We are delighted to have established a partnership with Nordic Marine, whose unparalleled and highly skilled underwriting expertise fits perfectly with our plans to grow the marine business on our international platform,” commented Rob Gibbs, president and CEO, SiriusPoint International.
“It is also in line with our strategy to develop partnerships with MGA based on the alignment of risk appetite and synergy with the underwriting expertise, vision and values of the company,” he added.
“I am particularly proud that SiriusPoint International’s MGA Center of Excellence has successfully onboarded a new expert partner who will strengthen our distribution, international profile and global footprint,” said Gibbs.
“We are very pleased to agree to a partnership with a leading global re/insurer of SiriusPoint’s size and strength. SiriusPoint’s growing maritime capabilities and capacity, combined with our highly niche knowledge and experience in marine underwriting, enables us to focus on providing customized insurance solutions in our key markets around the world,” said Dan Lennhammer, managing director, Nordic Marine Insurance.
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