Specialty insurer and reinsurer SiriusPoint Ltd. has announced a strategic partnership with Nordic Marine Insurance, a managing general agent (MGA) that provides insurance products to the global maritime industry. This partnership will primarily focus on writing hull & machinery (H&M), yacht owners charter cancellation, and marine delay business. It is the second MGA to emerge through SiriusPoint International’s MGA Centre of Excellence, which aims to deliver a collaborative onboarding experience for new MGA partners. The partnership aligns with SiriusPoint’s growth strategy and its goal of developing MGA partnerships based on risk appetite alignment and synergy.
SiriusPoint’s marine team works with local and global marine insurers and brokers to provide solutions for clients’ risk appetites and coverage requirements. Its Marine Reinsurance offering includes liability arising from maritime activity and coverage associated with the transportation of goods. The partnership with Nordic Marine will strengthen SiriusPoint’s distribution, international profile, and global footprint, while enabling Nordic Marine to provide customized insurance solutions in its core markets worldwide.
Both companies expressed their excitement about the partnership. Rob Gibbs, President & CEO of SiriusPoint International, highlighted the importance of MGA distribution in their growth strategy, while Dan Lennhammer, Managing Director of Nordic Marine Insurance, praised SiriusPoint’s growing marine capabilities and capacity, which will complement their niche marine underwriting knowledge and experience.
Overall, the partnership between SiriusPoint and Nordic Marine Insurance will enhance their marine insurance offerings and expand their presence in the global maritime industry.
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