SiriusPoint head joins new LMA DABAU Group

SiriusPoint head joins new LMA DABAU Group | Insurance Business Canada

Reinsurance

Newly established group the “perfect conduit”

Reinsurance

By
Kenneth Araullo

Victoria Howell (pictured above), head of program management at global re/insurer SiriusPoint International, has been appointed to the newly established Lloyd’s Market Association (LMA) Delegated Authority – BAU (DABAU) Group.

Howell recently discussed the significance of industry bodies and her objectives in collaborating with members from AXIS, Liberty, MS Amlin, Munich Re, and others.

“The LMA’s DABAU Group is the perfect conduit between insurance carriers and Lloyd’s,” Howell said in a news release. “Each member of the group shares common goals. By coming together, we can help to shape the future of delegated authority across the industry, and for the benefit of the wider market. With a focus on systems, processes, and people, members and those we work with will be able to plan well, make informed decisions, and develop reporting within their own companies.”

Howell noted that as SiriusPoint builds its international strategy and drives its growth agenda, being part of the LMA Group will help align with industry best practices, stay updated on industry developments, and contribute to the future of delegated authority.

The LMABAU Group reports to the LMA Delegated Authority Committee (DAC). The LMADAC is the senior delegated authority (DA) committee within the LMA governance. It comprises leaders from across the DA ecosystem, including underwriting, claims, operations, and compliance, through LMA appointments. The committee’s membership represents the interests of the Lloyd’s DA communities and reports to the LMA board.

The current chair of the DAC is Nigel Roberts from Aegis, supported by Carla Wise of the LMA.

Elsewhere for SiriusPoint, the global re/insurer has disclosed its financial results for the first quarter ended March 31, 2024, revealing shifts in core premium volumes and core results.

In the first quarter, SiriusPoint experienced a decrease in gross premiums written by $179.5 million, or 16.9%, totaling $880.7 million, down from $1,060.2 million in the comparable period of 2023. Net premiums earned also fell by $32.9 million, or 6.0%, to $517.8 million.

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