Sirius E&S platform to begin underwriting environmental risk

Sirius Specialty Insurance Company (SSIC), the US-based excess and surplus lines (E&S) platform owned by Sirius International Insurance Group, will begin underwriting business produced by Sirius’ environmental division from January 1, 2021.

Sirius Group was authorised to establish SSIC for various lines of business, including accident and health and property and casualty. It was capitalised in August 2020 and began issuing certain travel and health insurance policies in September 2020.

Sirius Group’s environmental and construction professional team will begin underwriting on behalf of SSIC in January 2021.

Dan Wilson, Sirius Group president for US specialty insurance, said: “Sirius launched its environmental US specialty insurance business in 2017 and we continue to look for opportunities to expand our offerings and enter new lines of business in the specialty insurance market.”

The hardening rates in the E&S market presents such an opportunity, he said.

Doug Stepenosky, Sirius Group’s managing director for the environmental and construction professional team, said Sirius’ broker partners have been calling for easier access to the E&S market, which SSIC provides.

“Sirius Group is committed to offering solutions to meet the needs of our partners and our US E&S platform is another step forward in our strategic plan,” he said.