HAMILTON, Bermuda. July 29, 2024 – SiriusPoint Ltd. (“SiriusPoint”) (NYSE: SPNT), a global specialty
insurer and reinsurer, and Hellenic Hull Management (“HMA”), a marine hull
and machinery underwriter in Greece and Cyprus, have today announced a
strategic partnership.
HMA is a leading marine insurance management company for all types of
vessels. It has been at the forefront of the shipping industry in Greece
and Cyprus for the last 30 years and was the first marine MGA to embrace
the United Nation’s Principles for Sustainable Insurance. SiriusPoint will
provide paper to HMA to underwrite a targeted portfolio of high-quality
hull and machinery risks, and ancillary covers. SiriusPoint has a
financial strength rating of A- (Excellent) from AM Best, S&P and
Fitch, and A3 from Moody’s.
“The partnership with Hellenic Hull offers us a fantastic opportunity to
continue to build strong, long-lasting partnerships with expert managing
general agents (MGA) in the Marine space,” said Steve Smyth, SiriusPoint’s
Global Head of Marine. “We feel we can support and empower an experienced
partner like Hellenic Hull to thrive in a marketplace where it has a long
history and proven track record.
“At SiriusPoint we want to work with experienced, ambitious MGAs, helping
them to excel by understanding and identifying exactly the right type of
support they need from us to reach their ambitions,” Mr. Smyth
added.
“We are excited to announce our partnership with SiriusPoint, introducing the
company to the major shipping clusters of Greece and Cyprus. SiriusPoint’s
presence across Continental Europe, is coupled with its growing marine
offering, and its approach to empowering MGA partners,” said Ilias
Tsakiris, CEO, Hellenic Hull Management and Chair of the Ocean Hull
Committee of the International Union of Marine Insurance. “The experience
of the team, the strength of SiriusPoint’s paper, and the individualized
support it provides our business, will be key factors in the growth and
success of our company. We look forward to a strong, enduring
relationship with SiriusPoint.”
The partnership with HMA coincides with other recent SiriusPoint Marine
MGA partnerships announced over recent months and the investment made by
SiriusPoint to strengthen its international marine team.
ENDS
About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance
providing solutions to clients and brokers around the world.
Bermuda-headquartered with offices in New York, London, Stockholm, and
other locations, 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 Program Administrators. With over $3.0
billion total capital, SiriusPoint’s operating companies have a financial
strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3
from Moody’s. For more information, please visit https://www.siriuspt.com/.
About Hellenic Hull
Hellenic Hull Management (HMA) is a pioneering marine insurance
management company, incorporated in Cyprus on February 1, 1994, as a
private limited liability company under Cyprus Companies Law. For the past
three decades, HMA has been at the forefront of the marine insurance
industry, leveraging extensive market knowledge and technical expertise,
supported by a global network of brokers. Since 2016, we have partnered
with an International Group P&I Club. Our unique brand differentiation
marketing strategy emphasizes the credibility, stability, and reputation
of our capital and capacity providers. Over the last 30 years, we have
successfully secured approximately $400 million in Gross Written Premiums
and settled claims totaling over $270 million. For more information please
visit:
https://hma.com.cy/.
Forward-Looking Statements
We make statements in this press release 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 the
forward-looking statements. These risks and uncertainties include, but are
not limited to, 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,
2023. 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
press release.
Contacts
Investor Relations
Sarah Singh, SiriusPoint
sarah.singh@siriuspt.com
+1 646 884 4310