Insurtechs and MGAs

We offer a comprehensive set of services for insurtechs and MGAs including fronting services, risk capital, equity investments, and expertise in underwriting, pricing, product development, capital raise etc. Our doors are wide open to future disruptors of the (re)insurance industry and we pride ourselves on being one of the most business and entrepreneur-friendly firms in the industry. Our portfolio of Insurtechs and MGAs includes:

ArmadaCare

Acquired by Sirius Group in 2017, ArmadaCare is a leading insurance program manager for a suite of unique insurance benefits that complement primary medical plans in the U.S. employer market. Offering an ArmadaCare plan—that puts customer service and paying claims first—helps employers create tailored and competitive benefit packages.

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Arcadian Risk Capital Ltd.

SiriusPoint has a minority stake investment in Arcadian Risk Capital Ltd, and also  provides insurance paper and significant underwriting risk capacity.  Arcadian has been established as a Managing General Agent (MGA) writing Excess Casualty, Professional Lines and Property, drawing on decades of underwriting expertise with market leading results.

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Banyan Risk Ltd.

SiriusPoint owns a majority stake in the newly formed company, with a path towards increasing ownership by the founders at a later date. Based and regulated in Bermuda, Banyan Risk focuses on custom Directors’ and Officers’ (D&O) insurance risk solutions with the highest level of attention and service in complex risk areas including life sciences, global initial public offerings (IPOs), the technology sector, and special purpose acquisition companies (SPACs).

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Corvus Insurance

Corvus Insurance, a leading provider of smart commercial insurance products powered by AI-driven risk data, and SiriusPoint have entered into a multi-year underwriting capacity partnership that will support existing and future commercial insurance product offerings. The partnership’s first program, with leading program management solution provider R&Q’s Accredited acting as the fronting insurer, focuses on Corvus’s Smart Cyber Insurance® product and builds on the company’s existing cyber operations.

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elseco Aviation

elseco provides a tech enabled insurance underwriting platform for specialty risks. SiriusPoint has partnered with elseco to provide insurance paper and underwriting capacity in the Airline, Aerospace, and General Aviation classes.

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Hestia Capital

SiriusPoint has made an investment in Hestia Capital and provides (re)insurance paper and capacity for the new strategic partnership. Hestia is a Texas-based advisory company and focuses on sourcing and developing structured speciality insurance and reinsurance transactions and insurance-related investments in underserved or specialized markets.

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International Medical Group

International Medical Group® (IMG®), a SiriusPoint company, is an award-winning global insurance benefits and assistance services company that has served millions of members worldwide since its founding in 1990. A leader in the industry, IMG offers a full line of international medical insurance products, as well as travel insurance plans, medical management services and 24/7 emergency medical and travel assistance.

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Joyn Insurance

SiriusPoint is a founding investor and strategic partner in Joyn Insurance, also providing insurance capacity. Joyn is a newly created, data-centric, tech-enabled Managing General Agency (MGA) focused on the insurance needs of small to medium-sized businesses.

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Outdoorsy

SiriusPoint has partnered with Outdoorsy, a global online RV rental and outdoor travel marketplace. This includes an equity investment in Outdoorsy and a commercial agreement to support the development of insurance products to serve Outdoorys’s customers. Outdoorsy plans to use the capital it has raised from SiriusPoint (and other investors) to drive its growth and expansion of Roamly, the company’s innovative insurtech division

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Pie Insurance

Sirius Group was the lead seed investor in Pie Insurance in 2017. Pie Insurance provides workers’ compensation insurance directly to small businesses and also partners with local, regional, and national insurance agencies to provide coverage to their clients. Headquartered in Washington, D.C. and Denver, the company began offering policies in 2018 with a goal of helping small businesses experience up to 30% savings and outstanding service.

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Rhino New York LLC

Rhino’s mission is to give renters everywhere greater financial freedom and choice to plan and enjoy their lives. Launched in 2017, Rhino pioneered Security Deposit Insurance, replacing cash security deposits with smart, affordable insurance so renters can maintain control of their money. As a strategic partner, SiriusPoint is positioned to provide risk capacity and paper for all new products and jurisdictions.

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Vouch Insurance Services

Vouch is a new kind of insurance platform for startups, offering fully-digital, tailored coverage that takes minutes to activate. The company provides comprehensive property and casualty (P&C) insurance to meet the unique and fast changing needs of startups. SiriusPoint is providing multi-year underwriting capacity and investing in the company’s Series C funding round.

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People

  • Prashanth Gangu

    COO and President, Insurance and Services

  • Karthik Kesavan

    Head of Strategy

  • Richard Wong

    Head of Corporate Development

  • Steve Paraboschi

    CEO, International Medical Group (IMG)

  • Ed Walker

    CEO, ArmadaCare

An Entrepreneurial Culture Drives Our Team

Our vision is to grow our business, create value, and positively impact a changing world by being the most adaptive and responsive (re)insurer in the market

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Who We Are

With more than $3 billion total capital, we are a fast-moving, responsive partner, that combines best-in-class underwriting and risk management with pioneering ideas.

Innovation, discipline, and sustainability lie at the core of our company – and our mission, vision, and values are embedded in everything we do.

We are committed to seeking out new ways to create value for the people and businesses we serve, leveraging technology to improve the way we manage risk, use data, and develop new strategic opportunities.

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