SiriusPoint has today announced its agreement to sell wholly owned supplemental health insurance program manager, ArmadaCare to Ambac. SiriusPoint will continue its capacity partnership with Armada until the end of 2030.
Scott Egan, SiriusPoint’s Chief Executive Officer, said: “The sale of our equity stake is an important step in unlocking the significant off-balance sheet value of Armada. We look forward to continuing our strong partnership with the team through our long-term capacity agreement.
“We are proud of our leading capabilities in the Accident & Health segment, which includes our ownership of premier travel platform IMG (International Medical Group), and we see attractive growth opportunities for our A&H business going forward.
“We reaffirm our across-the-cycle target return on equity of 12% to 15%.”
Click here to read the press release in full on our Investor Relations website.
