Specialty insurer SiriusPoint has introduced an extension of its partnership with Bermuda-based managing normal agent (MGA) Banyan Danger.

This strategic transfer marks the initiation of a three-year extension to their business relationship, culminating within the full switch of possession from SiriusPoint again to the unique founders.

The collaboration between SiriusPoint and Banyan was first established in July 2021 when Banyan was based by co-chief government officers Tim Usher-Jones and Peter Horrobin, with a transparent imaginative and prescient for growing possession by its founders.

“I’m delighted that we have now prolonged our partnership with Banyan. Our partnership represents the continuation of a long-term relationship that displays our shared plans and cultural match. The deal we’re saying immediately is per our deal with decreasing our fairness investments in MGAs however persevering with to stay a powerful distribution associate to those that align with our danger urge for food, development plans and specialisms. Banyan’s credentials imply we’re excited to proceed to be a powerful underwriting associate to them over the approaching years,” SiriusPoint CEO Scott Egan stated.

“We’re happy to be persevering with our relationship with SiriusPoint, an affirming message that can speed up our development. SiriusPoint has been key in enabling us to execute on our technique and deal with our data-rich and tech-enabled capabilities. Count on huge information forward as we increase into different geographies and product traces within the subsequent yr. We are going to proceed to succeed by constructing sturdy relationships with companions like SiriusPoint that share our best-in-class ethos and worth the experience and method we deliver to making sure our purchasers’ wants are met – swiftly, effectively and creatively,” Usher-Jones stated.

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