The new platform is designed to support NIP’s portfolio of more than 25 programmes. Credit: docstockmedia/Shutterstock.com.

Global specialty insurer and reinsurer SiriusPoint has joined forces with specialty insurance provider NIP Group (NIP) to establish a new excess and surplus (E&S) insurance underwriting platform.

The new platform will assist NIP’s portfolio of more than 25 programmes by tailoring solutions to meet the more complex and emerging requirements of its programme business.

Initially, this strategic collaboration will require the two companies to utilise their combined expertise to enhance NIP’s LandPro programme, a national insurance scheme for landscaping businesses in the US.

The programme helps in addressing the distinct needs of landscaping companies by offering comprehensive all-year services, such as for landscape construction and snow removal.

Eventually, the partnership plans to extend its solutions to other NIP programmes on a targeted basis, aiming to improve NIP’s overall product offerings.

By combining their respective expertise in the specialty insurance market, SiriusPoint and NIP are further planning to integrate capabilities from admitted, E&S, as well as alternative risk segments, focusing on disciplined programme underwriting.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Life Insurance International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

NIP National Programmes senior vice-president Tom Doherty said: “This partnership allows us to offer comprehensive solutions across our admitted, E&S and Alternative Risks underwriting platforms to our specialty broker network. By combining these underwriting capabilities with our integrated Wholesale team, we can provide brokers with sophisticated solutions through a single, streamlined relationship.”

Based in Bermuda, SiriusPoint has a global presence and a diverse portfolio of strategic partnerships with managing general agents (MGAs) and programme administrators in its Insurance & Services segment.

The company, which operates out of various international locations including New York and London, has licences to write accident and health as well as property and casualty insurance and reinsurance.

SiriusPoint North America Insurance head Patrick Charles said: “This strategic partnership represents a continuation of our commitment to achieving sustainable underwriting profitability by building relationships with programmes that align with our specialisms and risk appetite.”

Last month, SiriusPoint formed a trading partnership with Stockholm-based MGA Ryan Specialty Nordics to offer coverage for onshore wind farms.