SiriusPoint and Tara Hill Insurance Services announce new E&S portfolio partnership

HAMILTON, Bermuda. July 2, 2024 - SiriusPoint Ltd. ("SiriusPoint") (NYSE: SPNT), a global specialty insurer and reinsurer, and Tara Hill Insurance Services ("Tara Hill"), a newly launched Excess and Surplus (E&S) program administrator, have today announced a strategic partnership.

Tara Hill was established to develop an E&S portfolio with a focus on private Management Liability and Miscellaneous Professional Liability coverages for small to medium sized risks. Tara Hill is part of Cirrata Group, the insurance distribution division of Ambac Financial Group, Inc.

"This is a great opportunity to work with a best-in-class program administrator with expert knowledge of the D&O and E&O space," said Patrick Charles, Head of North America Insurance at SiriusPoint. "With the financial backing of Ambac and the leadership of industry veteran Peter McKeegan, Tara Hill has the perfect platform on which to launch its new program. Its focused appetite, disciplined underwriting approach, and experienced underwriting talent all complement SiriusPoint's strategy and demonstrate the high caliber of the partners that we align ourselves with."

"We are looking forward to working with SiriusPoint," said Peter McKeegan, Founder and Chief Executive Officer of Tara Hill. "With SiriusPoint's experience of working with both carrier divisions and MGAs, their backing will be a vital part of the execution of Tara Hill's growth and profitability. We are excited to bring this new program to the U.S. E&S sector alongside the complementary underwriting discipline and experience shared by the team at SiriusPoint."

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 Tara Hill
Tara Hill Insurance Services, LLC was formed in 2023 by Peter McKeegan with the backing of Cirrata Group, the insurance distribution division of Ambac Financial Group, Inc. (NYSE: AMBC). Tara Hill's underwriters bring decades of experience underwriting Directors & Officers, Employment Practices Liability, Fiduciary Liability, and Miscellaneous Professional Liability insurance for private insureds.

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

Dhruv Gahlaut, SiriusPoint

[email protected]

+44 7514 659 918

Media

James Milne, Rein4ce

[email protected]

+44 7867 484854