HAMILTON, Bermuda. March 23, 2022 -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), a global specialty insurer and reinsurer, has announced a strategic partnership in Players Health, an amateur sports insurance and risk management platform.
SiriusPoint was one of the lead investors in Players Health’s latest funding round which raised $28 million. The investment takes SiriusPoint’s strategic partnerships to over 30 as it expands its portfolio of partnerships with Managing General Agents and technology-driven insurance services companies.
In addition to investment, SiriusPoint is providing Players Health with fronting and underwriting capacity, offering a combination of Property & Casualty and Accident & Health coverages.
“We are delighted to partner with Players Health – a company responding to the needs of young athletes by putting their safety and wellbeing first,” said Prashanth Gangu, Chief Operating Officer and President of Insurance & Services at SiriusPoint. “Players Health uses technology to allow sports organizations and athletes to instantly assess risks. We see enormous potential and value in the Players Health platform and feel great about aligning SiriusPoint with Players Health’s goal of creating the safest environment possible for kids to play the sports they love.”
Founded in 2016, Players Health uses cutting-edge technology, unique data insights, and risk management, along with a comprehensive suite of insurance products, to offer protection to amateur athletes, coaches, staff, volunteers, and the organizations that run sports bodies. The investment will allow Players Health to further its mission to make insurance and risk management easier and more accessible to amateur sports organizations, allowing them to improve how they protect their athletes.
“We are delighted to have SiriusPoint on board as investors in Players Health,” said Tyrre Burks, Players Health Founder and Chief Executive Officer. “Players Health is at a pivotal point in its ambitious growth trajectory, and we are grateful to have pioneering investors in SiriusPoint who value innovation and creating best-in-class businesses. I look forward to working with the SiriusPoint team and the opportunities the partnership will bring.”
"We are helping make a positive impact on the youth sports market at a critical moment for athlete safety,” said Naveen Anand, Players Health Group President. “The support of our partners will enable us to continue to bridge the gap between risk management and insurance through intuitive, accessible technology partnered with a comprehensive suite of insurance products.”
About Players Health
Minneapolis-based Players Health is a sports technology platform providing digital risk management services, reporting tools and insurance products to sports organizations to comply with the changing athletic environment and responsibilities. Working towards establishing the safest environment for athletes, Players Health views the health and safety of athletes as a priority in today’s sports landscape. For more information, visit www.playershealth.com.
About SiriusPoint
SiriusPoint is a global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices in New York, London, Stockholm and other locations around the world, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and technology-driven insurance services companies within our Insurance & Services division. With over $3 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit www.siriuspt.com.
Contacts
Investor Relations
Clare Kerrigan, SiriusPoint
[email protected]
+44 7970695959
Media
Sarah Hills, Rein4ce
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+44 7718882011
Forward-Looking Statements
We make statements in this report that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of SiriusPoint. SiriusPoint is also subject to risks and uncertainties in connection with its ordinary course business, including the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; uncertainty of success in investing in early-stage companies, such as the risk of loss of an initial investment, highly variable returns on investments, delay in receiving return on investment and difficulty in liquidating the investment; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations, trends in insured and paid losses, regulatory and legal uncertainties and other risk factors described in SiriusPoint’s Annual Report on Form 10-K for the period ended December 31, 2021. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this report.