SiriusPoint invests in First On-Demand US and Canada Surgical Accidental Death Insurance MGA, Samos

Hamilton, Bermuda, June 1, 2022 - SiriusPoint Ltd. ("SiriusPoint" or the "Company") (NYSE: SPNT), a global specialty insurer and reinsurer, has announced its investment in Samos Insurance, a US and Canadian MGA platform which offers a first-of-its-kind accidental death insurance product. The product covers planned surgical procedures including scheduled caesarean sections, joint replacements, heart surgery and cancer diagnostic procedures.

Samos specialises in risk management solutions and Accident Death and Dismemberment (AD&D) insurance, which is a policy that pays out on the accidental death of the insured and is often added to a health insurance policy. Samos was founded as the first 'on-demand' AD&D product for elective surgeries in the US and Canada.

Samos Founder and Chief Executive Officer Eric Blondeel identified a gap in the market when he underwent his own surgery and realised that, having just left his job, he was no longer covered by the group, life, or AD&D benefits of his previous company. Samos was established to create a quick and cost-effective way to provide insurance in the case of accidental death while undergoing surgery.

The policies will be distributed through urgent care and hospitals in Canada and the US for the accident-based product, and the insurance will cover those in care from admission to discharge.

"Samos is responding to a gap in the Accident & Health market which urgently needs addressing," said Tom Leonardo, US Head of Accident & Health, SiriusPoint. "The company offers a tech-based insurance and risk management product that deals with a real problem faced by many people going into hospital."

Prashanth Gangu, SiriusPoint's Chief Operating Officer and President, Insurance & Services, commented: "Samos is a technology based MGA which launched with a unique and client-focused product. This kind of pioneering, solution-based insurance is a perfect fit for SiriusPoint's partnership and investment profile. We are very pleased to add them to our growing portfolio of innovative partners."

Eric Blondeel said: "We are delighted to have SiriusPoint as an investor. They will be able to support the company and help direct the product and the process - getting our services to the people that need it the most. SiriusPoint will be fundamental in our growth process."

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
[email protected]
+44 7718882011

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SiriusPoint Ltd. published this content on 01 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2022 13:05:35 UTC.