Speciality (re)insurance company SiriusPoint has partnered with US-based aviation insurance programme administrator (PA) Air Centurion Insurance Services.
Starting this August, Bermuda-based SiriusPoint will provide capacity to the aviation insurance provider.
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The (re)insurance company will also collaborate with the PA on underwriting strategy and the development of insurance solutions.
The collaboration will enable Air Centurion to exclusively use SiriusPoint America Insurance Company’s paper to offer solutions across the US.
SiriusPoint North America insurance head Patrick Charles said: “We look forward to partnering with the Air Centurion team, combining our programmes experience with our aviation know-how to be more than a paper and capital provider.
“Air Centurion is a specialist player in the niche aviation market and a PA which matches our drive to provide security and resilience to customers. Our focus now is to support the further growth of Air Centurion’s underwriting expertise and product offering to the (re)insurance industry.”
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By GlobalDataIn addition to providing insurance products to the aviation sector, Air Centurion claims to have developed technology-based solutions that leverage data and analytics to speed up the underwriting process.
Air Centurion founder, president and CEO Jason Niemela said: “This new partnership with SiriusPoint is a significant part of Air Centurion’s future growth and strategic development.
“Having the support and backing of the SiriusPoint team means we can continue to deliver a specialised offering to the market, providing products that are custom designed for each client based on their specific exposures.”
Earlier this year, SiriusPoint extended its alliance with managing general agent (MGA) Arcadian.
