SiriusPoint extends commitment to Arcadian Risk Capital
SiriusPoint invests in insurtech Joyn Insurance
Bermuda-based SiriusPoint has partnered with US insurance program manager Distinguished Programs to help the latter expand into environmental, construction pollution and professional insurance.
As part of the agreement, SiriusPoint's Environmental team led by Doug Stepenosky will move to Distinguished. At the same time, business will continue to be written on SiriusPoint paper per a multiyear program agreement. The Environmental claims team will handle claims on the existing book and new business.
Jason Rotman, president of New York-headquartered Distinguished Programs, said he was “thrilled” to be working with SiriusPoint.
“Distinguished has ambitious plans to bring on first-class underwriting teams in specialty lines, and this is the next step to achieving that goal. Doug and his team bring unparalleled expertise in the environmental insurance space and are a welcome addition to the Distinguished team,” he said.
“This is a great solution for everyone, particularly our clients and brokers,” added Doug Stepenosky, president of Distinguished's environmental program. “We now have all the tools to grow the business and to maintain consistency with the team and paper. We are appreciative of SiriusPoint's historical and future support and look forward to working with them for years to come.”
The program will join Distinguished’s existing primary and umbrella insurance coverages designed for real estate, fine art and collectibles, community associations, hotels, and restaurants.
SiriusPoint, Distinguished, Doug, insurance, Programs, Stepenosky, claims, agreement