SiriusPoint and MGA Service First Insurance Partner on Property Owners Program

HAMILTON, Bermuda. July 16, 2024 - SiriusPoint Ltd. ("SiriusPoint" or the "Company") (NYSE: SPNT), a global specialty insurer and reinsurer, and Service First Insurance ("Service First"), a managing general agent (MGA) that provides insurance solutions for the commercial and business markets in the Republic of Ireland, have today announced a strategic partnership on a property owners program.

Service First's distribution partnership with SiriusPoint will enable the MGA to underwrite commercial property risks of up to €10 million. Service First will manage all aspects of the insurance lifecycle, from underwriting through to claims, in conjunction with SiriusPoint.

"We are excited to be working in partnership with Service First in the Irish market," said Rob Gibbs, President & CEO of SiriusPoint International. "The team's offering is strengthened by local knowledge and existing relationships in the market with brokers, customers, and businesses and their focus on providing a technology-led, underwriting-first service for customers aligns with SiriusPoint's business strategy."

"Our new partnership with SiriusPoint will bring a new injection of capacity into the insurance market in Ireland," said Padraig Lynch, Chief Executive Officer of Service First. "Service First recognizes the need for efficient technology and platforms that guarantee a smoother and more efficient experience for our broker partners and customers. We are looking forward to combining Service First's local knowledge with the global skillset of the SiriusPoint team, to bring a unique solution to the market."

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. For more information, please visit https://www.siriuspt.com/.

About Service First

Service First is a recently established Managing General Agent (MGA) based in Dublin that will focus exclusively on providing solutions for Business Insurance in Ireland. The founders have a wealth of experience of introducing long term, profitable new capacity solutions to insurance markets including Ireland, UK, Europe and the USA.

Our goal is to provide our customers with Business insurance products that not only meet their needs but also deliver excellent customer service and support. We have a strong view that partnerships with brokers and capacity providers are a long-term commitment built on trust that delivers a high-quality service and premium product. https://www.servicefirst.ie/

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 retuon 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
[email protected]
+1 212 312 0200

Media James Milne, Rein4ce
[email protected]
+44 7867 484854

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SiriusPoint Ltd. published this content on 16 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2024 13:01:10 UTC.