Bermudian-based SiriusPoint is expanding into specialty underwriting with the launch of a new crisis solutions business focused on war, terrorism and political violence risks.

The company announced this week that it has created a new crisis solutions class within its London Market Specialty division and appointed veteran underwriters Paul Beattie and Ed Winter as joint heads of the unit.

Mr Beattie joins from Talbot Underwriting and Mr Winter from Markel, with both set to join SiriusPoint in December. The business will operate through Lloyd’s Syndicate 1945.

SiriusPoint said the new unit will initially focus on war, political violence and terrorism cover as demand grows for protection against increasingly complex geopolitical risks.

David Govrin, group president and chief executive of global reinsurance and London market specialty at SiriusPoint, said the launch is due to growing demand for crisis management solutions as conflict events and geopolitical tensions reshape the market.

Chris Fenn, SiriusPoint’s head of marine, described the hires as “a defining moment” for the company’s London market ambitions, adding that the move would help build a “disciplined, durable portfolio”.

The company said the new class complements its existing marine and specialty lines, including ports, terminals and specie business, which are seeing more exposure to terrorism and political violence risks.