SiriusPoint

While attritional losses were up for the quarter, those in the carrier’s core business declined.

The search for a CFO had been underway since last July.

The Insurance Insider US news team runs you through the earnings results for the day.

The MGA is also looking to build out its US mid-market professional liability expertise.

The carrier has renewed and extended its capacity arrangement with the MGA.

The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.

The company will continue its capacity partnership with the MGA until 2030.

The company has also expanded its relationships with US and UK MGAs.

The carrier also benefitted from favourable reserve development in property and A&H.

Andrew Pryde succeeds Andreas Kull, who will stay on until September.

Philip Enan joins following 11 years at Chubb.

Space pricing experienced double-digit increases after the 2023 capacity retreat.

The Insurance Insider US news team runs you through the earnings results for the day.

The agency cited SiriusPoint’s recent management moves including lower cat exposure as a driver of the change.

ISA is part of Ryan Specialty National Programs, which launched last month.

SiriusPoint will provide capacity for a new construction liability program.

The partnership will launch a new umbrella excess insurance product.

The ratings agency noted “significant” underwriting improvement in 2023-24.

Meanwhile, SiriusPoint’s property book grew 25% in full-year 2024.

The firm’s core CoR improved 3.2 points to 90.2%.

After two payments, the transaction is expected to be complete in February 2025.

Shapella will also join the company’s executive leadership team.

The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.

The Insurance Insider US news team runs you through the earnings results for the day.

The Insurance Insider US news team runs you through the earnings results for the day.

The carrier is expanding its MGA partnerships and has invested in its marine team.

The executive will replace Habib Kattan, who joined the company last summer.

A quick roundup of today’s need-to-know news, including the CrowdStrike outage and a hire at SiriusPoint.

A quick roundup of today’s need-to-know news.

The Irish MGA will be able to underwrite commercial property risk up to EUR10mn.

SiriusPoint becomes sole carrier partner for Euclid’s liability program.

Tara Hill launched last month and is headed by Core Specialty’s Peter McKeegan.

She has also been a director of Enstar Group since October 2020.

Steve Yendall is stepping down after 18 months as SiriusPoint CFO.

The executive has worked as a casualty treaty underwriter at QBE Re and Scor.

This publication revealed that the firm is working with Jefferies on the sale of its A&H MGA Armada.

The Insurance Insider US news team runs you through the earnings results for the day.

Sources said the Bermuda carrier has been working with Jefferies on the sale.

The partnership will launch with NIP’s landscaper program.

Larson and Godlis will be based in New York and Mohamed will be based in London.

Instead, the firm’s core segments reported $13.5mn in full-year cat losses.

The carrier will prioritise underwriting profits over growth in 2024.

The Insurance Insider US news team runs you through the earnings results for the day.

Putting together two “show me” stories risks investor skepticism.

It remains unclear whether there could be reputational damage after key shareholder CM Bermuda’s parent, CMIG International Holding, was taken into receivership.

Earlier this morning, SiriusPoint announced it had been informed that major shareholder CMIH had been taken into private receivership by lenders in Singapore.

An affiliate of the Chinese investment group has a 33% shareholding in the carrier.

InsurTech Nirvana plans to expand its offerings with a program designed for fleets with fewer than 10 units.

Based in Philadelphia, ProVerity provides specialty products to underserved areas of professional liability business.

Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.

The positive results in Q3 are starting to form a “track record” of improvement as the carrier moves away from “a place of underperformance”, the executive told this publication.

The ratings agency said the change reflected its expectation that the carrier would post improving underwriting results in the next two years.

In 2021, SiriusPoint acquired a “significant ownership stake” in the firm, which meant the specialty insurer and reinsurer providing multi-year capacity and paper to the ILS house.

The move follows an earlier announcement in May, when SiriusPoint disclosed that its equity stake in the Bermuda-based MGA was reduced to 49% from 100%.

The incoming deputy CUO spent 10 years at AIG, holding roles such as global head of portfolio analytics and chief risk officer for financial and liability lines.

The activist investor agreed not to acquire more than 9.5% of the outstanding shares of the company or an amount of ownership requiring regulatory approval.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Kattan’s role will include establishing the strategy and structure of SiriusPoint’s global ceded reinsurance function, managing the ceded team based in Stockholm and overseeing all reinsurance placements.

Rees joins from Chord Re, where he was head of casualty for nearly two years.

The underwriter replaces Stuart Liddell, who is leaving the business.

The aviation programme manager will exclusively use SiriusPoint’s paper across the US.

Bronek Masojada served as CEO of Hiscox until January 2022 and was appointed to SiriusPoint’s board in May.

Egan will receive an annual base salary of $1.1mn and an annual target bonus equal to 140% of his salary.

Inside P&C’s news team runs you through the key highlights of the week.

The company has been weakened somewhat, and the base case now is a return to grinding out new CEO Scott Egan’s refined strategy.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Howden Tiger is advising the Bermudian as it seeks to realize value from its portfolio and simplify its story for investors.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Loeb revealed his intention to take SiriusPoint private last month, saying that it would better position the company to execute its turnaround strategy.

Bermudian carrier SiriusPoint’s equity stake in D&O MGA Banyan Risk has been reduced to 49% from 100%, filings show.

While SiriusPoint CEO Scott Egan said the committee of independent directors will examine any acquisition proposals, he added that there’s “no assurance” any deal will be executed.