SiriusPoint partners with Eaton Gate
SiriusPoint has partnered with Eaton Gate, a London-based managing general underwriter, to primarily focus on British property casualty insurance business.
The Bermudian-headquartered global specialty re/insurer said Eaton Gate writes in excess of £100 million in gross written premiums through its group of managing general agents and is one of the largest MGU/MGAs in Britain.
Sirius Point said the deal reinforces its highly targeted strategy to develop MGA partnerships based on income, risk appetite alignment and synergy with the company’s underwriting expertise, vision and values.
Eaton Gate is the first MGA partnership to emerge from SiriusPoint International’s MGA Centre of Excellence, which was launched this year to deliver an efficient and collaborative onboarding experience for new MGA partners, the company said.
SiriusPoint said the approach mirrors the company’s North American structure and enables operational efficiencies and access to expertise across the company’s global platform, allowing partners to benefit from the “one SiriusPoint” ethos.
Rob Gibbs, chief executive, SiriusPoint International, said: “Our partnership with Eaton Gate is a major first step in the delivery of our international strategy.
“I’m proud to see the SiriusPoint International MGA Centre of Excellence putting our plan into practice and collaborating across the global business to make it happen.”
Jonathan Matthews, group chief operating officer, Eaton Gate said: “The addition of a global partner like SiriusPoint to the Eaton Gate panel will support the next stage of our growth.
“Combining the strongest underwriting capacity available, and a senior management with blue-chip UK market pedigree, SiriusPoint will accelerate our strategy to service our national and selected regional broking partners and their customers with interesting and useful SME commercial and mid-market home underwriting capability.”
The company said Aon played a key role as the broker for the partnership between SiriusPoint and Eaton Gate.