Global specialty re/insurer SiriusPoint has announced a new strategic partnership with Hellenic Hull Management (HMA), a marine hull and machinery underwriter based in Greece and Cyprus. This collaboration aims to enhance their offerings in the marine insurance sector.
Under the partnership, SiriusPoint will provide underwriting capacity for a selected portfolio of high-quality hull and machinery risks, as well as ancillary covers. SiriusPoint holds a financial strength rating of A- (Excellent) from AM Best, S&P, and Fitch, and an A3 rating from Moody’s.
HMA, which has been a significant player in the shipping industry in Greece and Cyprus for three decades, specializes in managing insurance for all types of vessels. The company was also the first marine MGA to adopt the United Nations’ Principles for Sustainable Insurance.
Steve Smyth (pictured above), SiriusPoint’s global head of marine, commented on the partnership, emphasizing the opportunity to build strong and enduring relationships with expert managing general agents (MGAs) in the marine sector.
“We feel we can support and empower an experienced partner like Hellenic Hull to thrive in a marketplace where it has a long history and proven track record. At SiriusPoint we want to work with experienced, ambitious MGAs, helping them to excel by understanding and identifying exactly the right type of support they need from us to reach their ambitions,” Smyth said.
Ilias Tsakiris, CEO of Hellenic Hull Management and chair of the Ocean Hull Committee of the International Union of Marine Insurance (IUMI) expressed enthusiasm about the partnership.
“SiriusPoint’s presence across Continental Europe, is coupled with its growing marine offering, and its approach to empowering MGA partners. The experience of the team, the strength of SiriusPoint’s paper, and the individualized support it provides our business, will be key factors in the growth and success of our company. We look forward to a strong, enduring relationship with SiriusPoint,” Tsakiris said.
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