SiriusPoint collaborates with NIP for new nationwide E&S platform
SiriusPoint collaborates with NIP for new nationwide E&S platform | Insurance Business Asia
Reinsurance
SiriusPoint collaborates with NIP for new nationwide E&S platform
It will target landscaping companies in the US
Reinsurance
By
Kenneth Araullo
Specialty re/insurer SiriusPoint has joined forces with NIP Group to launch a new excess and surplus (E&S) program underwriting platform.
It is tailored for landscaping firms in the United States, offering coverage for services ranging from landscape construction to snow removal.
The initial focus on the LandPro program will set the stage for subsequent expansion of these solutions to additional NIP programs, it was stated.
Both SiriusPoint and NIP plan to utilize their joint expertise in the specialty re/insurance sector to merge the capabilities of admitted and E&S insurance with alternative risk segments alongside rigorous program underwriting. The platform is intended to support NIP’s portfolio, which encompasses more than 25 programs.
Patrick Charles, the head of North America insurance at SiriusPoint, shared his optimism about the partnership, highlighting NIP’s track record in developing successful programs within niche US markets.
“This strategic partnership signifies our ongoing dedication to securing sustainable underwriting profitability through forging alliances with programs that resonate with our specialties and risk preferences. It’s encouraging to see our program space stability and expertise attracting esteemed program administrators like NIP,” Charles said.
Tom Doherty, senior vice president of national programs at NIP, also shared his excitement regarding the collaborative endeavor to create a new E&S platform.
“This partnership enables us to deliver comprehensive solutions across our Admitted, E&S, and Alternative Risks underwriting platforms to our network of specialty brokers. By integrating these underwriting capabilities with our Wholesale team, we aim to offer brokers advanced solutions through a unified, efficient relationship,” Doherty said.
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