SiriusPoint

The reinsurance unit's combined ratio plummeted to 91.2% from 129.4%, outweighing the increase in the insurance services combined ratio, which spiked to 98% from 55.5%.

The deal makes SiriusPoint the lead underwriting capacity provider for Honeycomb.

The business has attracted $110mn in its latest funding round and is valued at over $1.3bn.

Ari Chester joined SiriusPoint in early 2021 and most recently served as Americas reinsurance COO.

The hire follows the addition of former Berkshire Hathaway executive Michael Densham to expand the MGA’s Canadian operations.

In his new role at the specialist D&O MGA, Densham will report to Banyan founder and CEO Tim Usher-Jones.

The transaction grants SiriusPoint direct access to the life (re)insurance market in Canada.

Carriers are planning for inflationary threats and have been responding to major catastrophes, while the InsurTech and broking markets have driven M&A drama.

LuckyTruck aims to expand across the US and solidify partnerships with MGAs, carriers and trucking groups.

The carrier will make takeout offers to a selection of Citizens’ customers.

In an interview with Inside P&C, Prashanth Gangu also argued that InsurTechs should stay private for as long as possible, and InsurTech MGAs should not rush to transition to full stack until they prove that their business models work.

Based in Zurich, Kull will oversee SiriusPoint’s risk management strategy.