Sirius Group Expands New Excess & Surplus Lines (E&S) Platform
08 Diciembre 2020 - 10:16AM
Sirius International Insurance Group, Ltd. (Nasdaq:SG) ("Sirius
Group" or the "Company") today announced that, effective January 1,
2021, the Group’s new U.S.-based Excess & Surplus Lines
(E&S) platform called Sirius Specialty Insurance Company (SSIC)
will begin underwriting business produced by the Company’s
Environmental Division. 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 and Casualty.
“Sirius launched its Environmental US 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 US.”
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. “Sirius Group is committed to
offering solutions to meet the needs of our partners and our US
E&S platform is another step forward in our strategic
plan.”
Sirius Group’s Environmental and Construction Professional team
have vast underwriting and insurance-related experience and are
able to provide solutions tailored to protect businesses from
unique environmental and professional exposures. Employing a
customer-focused approach enables the team to provide clients with
a full suite of products encompassing fixed facilities, contracting
services and professional liability with both primary and excess
capability.
About Sirius Group
Sirius Group, with $2.4 billion of total capital and roots
dating back to 1945, is a global multi-line (re)insurer
headquartered in Bermuda with a unique global branch network,
including offices in Stockholm, New York and London. Sirius Group's
success over the years has come from working with honest, capable
partners. Sirius Group provides a fully diversified set of tailored
risk products to clients in approximately 150 countries, including
health and travel products to consumers through its two managing
general underwriters, ArmadaCorp Capital, LLC and International
Medical Group. Sirius Group has been publicly traded since November
2018. You can learn more by visiting www.siriusgroup.com.
Source: Sirius International Insurance Group,
Ltd.
Media Contact:Sirius
GroupLynda.Caravello@SiriusGroup.com
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