SiriusPoint and MGU forge partnership | Insurance business America
The merger is expected to expand risk management capabilities
reinsurance
By Noel Sales Barcelona
According to the announcement, SiriusPoint will become the sole carrier partner for Euclid Security’s liability program, which includes security services, alarm services and fire suppression protection. It says that under the program, Euclid Security will assume commercial general liability and excess liability risks in the U.S. market.
The head of North America insurance for SiriusPoint, Patrick Charles (pictured left), expressed full confidence in the deal, knowing his partner’s solid track record.
“Euclid Security has a proven track record in security and a well-defined scope in providing protection and underwriting expertise for niche risks,” he said. “This is a great opportunity to work with a world-class MGU with unrivaled expertise on a program led by an experienced and talented underwriting team. Our partnership reflects SiriusPoint’s ongoing commitment to working with high-caliber administrators who have expertise in their areas of expertise that aligns with SiriusPoint’s risk appetite.”
Meanwhile, John Colis (pictured, center), President and CEO of Euclid Security, said: “Building sustainable carrier partnerships is a relationship-driven business, and after taking the time to get to know the team at SiriusPoint, I am confident that our complementary expertise will ensure a successful partnership.”
Euclid Security is supported by Euclid program managers and has 32 years of program insurance experience.
“Euclid, like SiriusPoint, is an underwriting-focused organization that nurtures and nurtures relationships with specialty niche partners and expert teams, building long-term relationships as they grow profitable books of business,” Colis added.
Finally, Ed LaFramboise (pictured right), managing director of Euclid Security, noted that by supporting SiriusPoint’s financial strength, capabilities and underwriting-first discipline, it has created “a world-class platform to support the security risk industry.” long-term.”
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2024-06-28 13:20:00
www.insurancebusinessmag.com
