New strategic partnership for SiriusPoint
Bermudian-headquartered global specialty re/insurer SiriusPoint Ltd has announced a strategic partnership with Players Health, an amateur sports insurance and risk-management platform.
SiriusPoint said it was one of the lead investors in Minneapolis-based Players Health’s latest funding round which raised $28 million.
The investment takes SiriusPoint’s strategic partnerships to more than 30 as it expands its portfolio of partnerships with managing general agents and technology-driven insurance services companies.
In addition to investment, SiriusPoint said, it is providing Players Health with fronting and underwriting capacity, offering a combination of property and casualty and accident and health coverages.
“We are delighted to partner with Players Health — a company responding to the needs of young athletes by putting their safety and wellbeing first,” said Prashanth Gangu, chief operating officer and president of insurance and services at SiriusPoint.
“Players Health uses technology to allow sports organisations and athletes to instantly assess risks. We see enormous potential and value in the Players Health platform and feel great about aligning SiriusPoint with Players Health’s goal of creating the safest environment possible for kids to play the sports they love.”
Founded in 2016, Players Health uses cutting-edge technology, unique data insights, and risk management, along with a comprehensive suite of insurance products, to offer protection to amateur athletes, coaches, staff, volunteers and the organisations that run sports bodies.
The investment will allow Players Health to further its mission to make insurance and risk management easier and more accessible to amateur sports organisations, allowing them to improve how they protect their athletes.
“We are delighted to have SiriusPoint on board as investors in Players Health,” said Tyrre Burks, Players Health founder and chief executive officer.
“Players Health is at a pivotal point in its ambitious growth trajectory, and we are grateful to have pioneering investors in SiriusPoint who value innovation and creating best-in-class businesses.
“I look forward to working with the SiriusPoint team and the opportunities the partnership will bring.”
Naveen Anand, Players Health group president, added: "We are helping make a positive impact on the youth sports market at a critical moment for athlete safety.
“The support of our partners will enable us to continue to bridge the gap between risk management and insurance through intuitive, accessible technology partnered with a comprehensive suite of insurance products.”