SiriusPoint forms strategic partnership with specialty underwriter

Bermuda-based specialty re/insurer SiriusPoint has entered a strategic partnership with a specialty underwriter offering products to underserved areas in the professional liability sector.

SiriusPoint will provide capacity to and work closely with ProVerity to develop customised solutions for professional areas like architects and engineers, and excess professional lines.

Proverity is based in Philadelphia and was founded this year.

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.”