SiriusPoint Ltd., a global specialty insurer and reinsurer, and Tara Hill Insurance Services, have formed a strategic Excess & Surplus lines (E&S) partnership.
The collaboration aims to develop an E&S portfolio focused on private Management Liability and Miscellaneous Professional Liability coverages for small to medium-sized risks.
This move is expected to leverage SiriusPoint’s extensive experience in the insurance industry and Tara Hill’s specialised focus.
Commenting on the news, Patrick Charles, head of North America insurance at SiriusPoint, remarked, “This is a great opportunity to work with a best-in-class program administrator with expert knowledge of the D&O and E&O space. With the financial backing of Ambac and the leadership of industry veteran Peter McKeegan, Tara Hill has the perfect platform on which to launch its new program. Its focused appetite, disciplined underwriting approach, and experienced underwriting talent all complement SiriusPoint’s strategy and demonstrate the high calibre of the partners that we align ourselves with.”
SiriusPoint Ltd. operates as a global specialty insurer and reinsurer, providing a diverse range of insurance and reinsurance products to clients worldwide. The company’s strategic focus includes aligning with high-calibre partners to enhance its market position and expand its product offerings.
Tara Hill Insurance Services was established to create a robust E&S portfolio, concentrating on specific liability coverages. As part of the Cirrata Group under Ambac Financial Group, Inc., Tara Hill benefits from substantial financial backing and industry leadership.
Peter McKeegan, founder and chief executive officer of Tara Hill, added, “We are looking forward to working with SiriusPoint. With SiriusPoint’s experience of working with both carrier divisions and MGAs, their backing will be a vital part of the execution of Tara Hill’s growth and profitability. We are excited to bring this new program to the U.S. E&S sector alongside the complementary underwriting discipline and experience shared by the team at SiriusPoint.”
This strategic partnership is set to enhance both companies’ positions in the E&S market, providing specialised insurance solutions tailored to the needs of small to medium-sized businesses.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
