Sirius expands new E&S unit amid hardening market

Sirius International Insurance Group has expanded its US-based excess & surplus lines (E&S) platform to write environmental business starting January 1, 2021.

Earlier this year, Sirius was granted authority to establish the New Hampshire based domestic surplus lines insurer to write various lines of business, including accident & health and property and casualty.

Sirius Specialty Insurance Company (SSIC) was capitalised in August 2020 and began issuing certain travel/health insurance policies in September 2020.

Sirius Group’s environmental and construction professional team will begin underwriting on behalf of SSIC in January 2021. The team will provide a suite of products encompassing fixed facilities, contracting services and professional liability with both primary and excess capability.

Dan Wilson, Sirius Group president, US specialty insurance, said: “Sirius launched its Environmental US Specialty Insurance business in 2017 and we continue to look for opportunities to expand our offerings and enter new lines of business in the Specialty Insurance market. With the hardening rates in the E&S market, we see a significant opportunity in this space and our new E&S platform enables us to diversify our specialty insurance operations in the US.”

Doug Stepenosky, Sirius Group managing director, environmental and construction professional team, added: “Our broker partners asked us for easier access to the E&S market and, by launching our new U.S. based platform, we have simplified our structure and SSIC is now listed as a domestic insurer with the National Association of Insurance Companies (NAIC) with widespread eligibility throughout the US.

“Sirius Group is committed to offering solutions to meet the needs of our partners and our US E&S platform is another step forward in our strategic plan.”