SiriusPoint outlines Lloyd’s SIMA sale to Mosaic

As previously announced, SiriusPoint has entered into a strategic partnership with Mosaic Insurance, which includes an investment in Mosaic to support continued growth, providing Mosaic with access to global licences and infrastructure, and the planned sale of SiriusPoint’s Lloyd’s Managing Agency (SIMA). The sale is subject to Lloyd’s and regulatory approvals.

SiriusPoint will retain its UK Branch operations, inclusive of Syndicate 1945.

Following, and subject to the close of the transaction as well as Lloyd’s and regulatory approvals, current SiriusPoint London chief executive officer (CEO) and managing director of SIMA, Robert Harman, will transition to Mosaic to continue his role as CEO of the managing agency.

SiriusPoint has also announced the appointment of Bobby Heerasing as its UK country branch manager. Heerasing will be responsible for establishing and executing profitable growth strategies and operating plans for SiriusPoint’s London branch and syndicate, inclusive of the company’s reinsurance, insurance and services platforms. He will report to both David Govrin, global chief underwriting officer (CUO), and president, Americas Reinsurance, and Monica Cramér Manhem, president of international reinsurance and managing director of SiriusPoint International.

Heerasing joined SiriusPoint in October 2021 with over 25 years of market experience. He was most recently head of international strategic business development for SiriusPoint and, prior to this, was the CEO and board member of ACR Holdings and ACR Group (Asia Capital Re). Previously, he spent 18 years at Catlin as CUO, and XL Catlin as regional underwriting director of Asia Pacific (Insurance).

“London is an important market for SiriusPoint,” said Govrin. “Bobby will be a critical enabler towards building a sustainable business model through profitable growth, talent development, strengthening relationships with key trading partners and an unwavering commitment to adding value for our clients.”

Cramér Manhem added: “Bobby is an experienced and hands-on leader who is committed to operational excellence and cultivating value creation. His appointment underscores SiriusPoint’s commitment to the London market and the depth and experience of our talent, as we continue to invest in our re/insurance capabilities.”