SiriusPoint Announces MGA Partnership with Nordic Marine Insurance

September 19, 2023

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 covers through its strong partnerships with major reinsurers.

It is the second MGA to have emerged through SiriusPoint International’s MGA Centre of Excellence, which launched this year to deliver a collaborative onboarding experience for new MGA partners.

The partnership with SiriusPoint’s Stockholm-based underwriting team will primarily focus on writing hull & machinery (H&M), yacht owners charter cancellation, and marine delay business.

SiriusPoint’s marine team works with both local and global marine insurers and brokers to deliver solutions to support clients’ risk appetites and coverage requirements, while its Marine Reinsurance offering includes liability arising from maritime activity and coverage associated with the transportation of goods.

“MGA distribution is a core part of SiriusPoint international’s growth strategy. We are delighted to have established a partnership with Nordic Marine, whose unrivaled and highly skilled underwriting expertise fits perfectly with our plans to grow the marine business across our international platform,” commented Rob Gibbs, president & CEO, SiriusPoint International.

“It also aligns with our strategy to develop MGA partnerships based on risk appetite alignment and synergy with the company’s underwriting expertise, vision and values,” he added.

“I am particularly proud that SiriusPoint International’s MGA Centre of Excellence has successfully onboarded a new expert partner that will strengthen our distribution, international profile and global footprint,” Gibbs said.

“We are very pleased to have agreed a partnership with a major global re/insurer of SiriusPoint’s stature and strength. SiriusPoint’s growing marine capabilities and capacity, combined with our highly niche marine underwriting knowledge and experience, will enable us to focus on providing customized insurance solutions in our core markets around the world,” according to Dan Lennhammer, managing director, Nordic Marine Insurance.

Source: SiriusPoint

Topics New Markets Insurance Wholesale

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