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Dan Malloy, SiriusPoint
26 April 2021News

SiriusPoint plans pipeline of projects with new partner Hestia Capital

SiriusPoint, the international specialty re/insurer, is partnering with Hestia Capital, a Texas-based advisory start-up that sources and develops structured speciality re/insurance transactions and insurance-related investments in underserved or specialised markets.

SiriusPoint made an investment in Hestia and will provide re/insurance paper and capacity for the new venture, which was established by Jean Francois Bahier and Peter Norris.

It is the first such partnership since SiriusPoint launched in February 2021 with over $3 billion in capital. The companies are working on a pipeline of projects, including a complementary healthcare product they recently launched together in Poland.

Dan Malloy, president of global distribution at SiriusPoint said the partnership expands its ability to access alternative markets. “Hestia’s focus on the creation of new products to answer clients’ risk management and capital needs is a valuable service in the current market,” he said.

Bahier and Norris previously headed up the unique risk underwriting (URU) division at AmTrust Financial Services, building a profitable non-cat exposed diversified book of structured insurance and reinsurance deals. Both worked at AmTrust from 2009, with Bahier serving as president of the URU and Norris as a London-based underwriter of the division.

Norris said: “Our relationship with SiriusPoint solidifies our participation in the re/insurance market. We will shortly announce a partnership on the alternative asset side of our business.”

Hestia has said it aims to open additional offices in Europe as its operations grow.