SiriusPoint Announces Strategic Partnership with ProVerity Underwriters

HAMILTON, Bermuda.December 6, 2023 - SiriusPoint Ltd. ("SiriusPoint" or the "Company") (NYSE: SPNT), a global specialty insurer and reinsurer, and program administrator ProVerity Underwriters (ProVerity), have today announced a new strategic partnership.

As a provider of capacity, SiriusPoint will work closely with ProVerity to develop customized solutions for the professional liability market.

Based in Philadelphia and founded in 2023, ProVerity combines its underwriting experience and expertise of complex risks to provide specialty products to underserved areas of professional liability business. Products include miscellaneous professional, architects and engineers, and excess professional.

Patrick Charles, Head of North America Insurance, SiriusPoint, said: "Our partnership with ProVerity will significantly strengthen our footprint in the professional liability space. ProVerity's underwriting expertise, vision and values, and its commitment to sustainable underwriting throughout hard and soft market cycles supports SiriusPoint's strategy to work with programs that align with our risk appetite, growth plans, and specialisms."

Marc Garganigo, Managing Director, ProVerity Underwriters added: "I am thrilled to have SiriusPoint as our carrier partner. Its financial strength, commitment to professional lines, and alignment with ProVerity's underwriting approach are pivotal factors to our success as we enter the professional liability space."

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 Managers within our Insurance & Services segment. 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 www.siriuspt.com.

About ProVerity Underwriters

ProVerity Underwriters is a new Professional Liability facility focused on middle to large market Miscellaneous (MPL), Architects & Engineers (A&E), and Excess Professional Liability risks. We provide customized solutions to our brokerage partners targeting more complex risks that require true underwriting experience and expertise.

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, 2022. 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

Contact ProVerity Underwriters
1285 Drummers Ln #305
Wayne, PA 19087
646.661.0539

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Disclaimer

SiriusPoint Ltd. published this content on 06 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2023 14:01:35 UTC.