SiriusPoint
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The carrier has renewed and extended its capacity arrangement with the MGA. -
The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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The company will continue its capacity partnership with the MGA until 2030.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The company has also expanded its relationships with US and UK MGAs.
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The carrier also benefitted from favourable reserve development in property and A&H.
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SiriusPoint will provide 100% capacity for Pen’s international PI portfolio.
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Andrew Pryde succeeds Andreas Kull, who will stay on until September.
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Philip Enan joins following 11 years at Chubb.
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The business is looking to grow its marine offering across its global platform.
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Space pricing experienced double-digit increases after the 2023 capacity retreat.
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Meanwhile, gross written premiums grew 8.6% year on year to $985mn.
