Bermudian reinsurer SiriusPoint has continued its partnership strategy by announcing a deal with European MGA Alta Signa Holdings.
Brussels-headquartered Alta Signa was launched in 2019. It has particular expertise in financial and professional lines insurance and maintains a branch network across Continental Europe.
The MGA – which has offices in Belgium, France, Spain and Italy – underwrites specialty insurance lines including management liability, professional indemnity, crime and cyber, focusing on corporate and financial institution clients.
SiriusPoint has been part of Alta Signa’s panel of A rated capacity providers since January 2022, and this expanded relationship sees the formation of a scalable strategic partnership.
The partnership builds on the growing number of companies in SiriusPoint’s MGA and insurance services portfolio, and is the third partnership outside the North American and Bermuda business.
Late last month the Bermudian reinsurer announced a deal with Germany-based security deposit replacement insurance MGA Garentii.
On 1 June, The Insurer reported that the reinsurer had invested in US and Canadian MGA Samos, a business that specialises in risk management solutions and accidental death and dismemberment insurance.
Bobby Heerasing, head of international strategic business development at SiriusPoint, said: “Alta Signa has an experienced and highly qualified leadership team, with deep insurance relationships and a proven track record of delivering underwriting profitability.
“We see great potential for a scalable partnership across multiple lines, leveraging Alta Signa’s approach of taking specialized underwriting expertise to local brokers in the European retail market. We are excited to support the next stage of the company’s development.”