Sirius International Insurance Group Ltd. announced its new U.S.-based excess & surplus lines (E&S) platform, called Sirius Specialty Insurance Co. (SSIC), will begin underwriting business produced by the company’s Environmental Division, effective Jan. 1, 2021
Earlier this year, Sirius Group was granted authority to establish the New Hampshire-based domestic surplus lines insurer with authority for various lines of business, including accident & health and property/casualty.
“Sirius launched its Environmental U.S. Specialty Insurance business in 2017, and we continue to look for opportunities to expand our offerings and enter new lines of business in the specialty insurance market,” said Dan Wilson, Sirius group president, U.S. Specialty Insurance.
“With the hardening rates in the E&S market, we see a significant opportunity in this space and our new E&S platform enables us to diversify our specialty insurance operations in the U.S.,” he added.
SSIC was capitalized in August 2020 and began issuing certain travel/health insurance policies in September 2020. Sirius Group’s Environmental and Construction Professional team will begin underwriting on behalf of SSIC in January 2021.
“Our broker partners asked us for easier access to the E&S market and, by launching our new U.S.-based platform, we have simplified our structure and SSIC is now listed as a domestic insurer with the National Association of Insurance Companies (NAIC) with widespread eligibility throughout the US,” said Doug Stepenosky, Sirius Group managing director, Environmental and Construction Professional team.
Source: Sirius International Insurance Group, Ltd.
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