Leeds-headquartered managing general agent collective Bspoke Group has brought in specialty insurer and reinsurer SiriusPoint as a capacity provider under a three-year strategic partnership.
SiriusPoint’s backing includes offering capacity for up to £60 million in gross written premium in the first year of the agreement. Bspoke chief commercial officer Ryan Gill confirmed that the first policies underwritten under the new partnership were for Police Mutual, starting with its affinity home insurance portfolio.
“We are delighted to announce our strategic partnership with SiriusPoint, which provides stable, long-term capacity to support our ambitious growth plans,” Gill said.
“It was clear from the outset that both organisations hold many common values, and we have been very impressed by Rob Gibbs, Alex Hardy, and the team’s commitment to support high-quality MGAs focused on sustainable underwriting.”
The chief commercial officer also emphasised the potential of the collaboration, noting that while the initial agreement is for three years, there is room for expansion.
“Looking ahead, we are focused on building a broader collaborative partnership, working together over the long term to develop and grow our general insurance offering to customers across a range of products,” he shared.
SiriusPoint is now among Bspoke’s key capacity providers, joining an already established panel supporting the MGA operations of the group. The addition is expected to help Bspoke achieve over £200 million in GWP in the coming year, driven by strong organic growth and recent acquisitions, including Miramar Underwriting, Police Mutual, and Forces Mutual.
Alex Hardy, director of sales and distribution for SiriusPoint International, commented: “We are excited by the partnership with Bspoke Group, an MGA whose growth ambitions align perfectly with SiriusPoint’s vision.
“As specialists in the MGA space, Bspoke Group is on an impressive growth trajectory, both organically and through acquisition, and we are pleased to be partnering with them through this journey.”
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