SiriusPoint joins forces with Norwegian offshore energy provider
Bermuda-based SiriusPoint and offshore renewables insurance specialist NIORD have formed a new strategic partnership designed to raise both companies share of the offshore energy market.
Niord was launched in January and has become a Lloyd’s coverholder with additional capacity from SiriusPoint and other partners.
John Hopper, head of energy at SiriusPoint, said: “NIORD has rapidly established itself as a key player in the offshore energy market, with a clear underwriting philosophy and a strong proposition to the market.
"Our strategic partnership supports SiriusPoint’s mission to build strong distribution relationships with expert underwriters and we look forward to working with the NIORD team as it moves towards its vision of being a leading provider in the offshore renewables space.”
NIORD said the Bergen-based company gained additional capacity from Lloyd’s syndicates managed by SiriusPoint and Cincinnati Global Underwriting’s Lloyd’s Syndicate 318. In addition to the Lloyd’s syndicates, the Finnish marine insurer Alandia also provided extra capacity to NIORD from the same date.
This extra capacity comes in addition to that provided by NIORD’s parent company, Norwegian Hull Club.
NIORD seeks to combine the Nordic proactive claims and service concept with Lloyd’s financial security, strong capacity and wide network of licenses and trading rights.
CEO of NIORD, Georg Nygaard, said: “I’m delighted that NIORD is progressing as expected, with increased capacity and an even stronger organisation thanks to us getting our latest talents on board.
“We’re providing a unique service concept, as well as insurance capacity, to owners, developers and operators in the offshore renewables segment – as well as main contractors and service providers when it comes to development, construction and operation of offshore installations.
“Now, with our increased capacity, NIORD and its clients can look forward to ‘enabling endless energy’, together and with confidence.”
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