SiriusPoint Teams Up with Holmes Murphy to Enhance Captive Insurance Solutions

SiriusPoint Teams Up with Holmes Murphy to Enhance Captive Insurance Solutions

SiriusPoint has recently announced an exciting new strategic partnership with Holmes Murphy, one of the leading independent insurance brokerages in the United States. This collaboration aims to deliver a tailored umbrella excess insurance product designed specifically for the captives managed by Holmes Murphy and its subsidiaries. The partnership will see SiriusPoint act as the carrier partner, underwriting this innovative insurance solution on a non-admitted basis.

Details of the SiriusPoint and Holmes Murphy Partnership

According to Patrick Charles, the head of North America insurance at SiriusPoint, the captive insurance market is undergoing significant growth. He explains that this transformation is largely fueled by businesses seeking to manage their risk exposure more effectively. Through this partnership, Holmes Murphy’s managing general agent (MGA), Innovative Program Solutions (IPS), will offer companies a unique captive insurance solution that enhances both control and opportunity.

Key Benefits of the New Insurance Product

  • Tailored Coverage: The umbrella excess insurance product is customized for the specific needs of captives.
  • Expert Collaboration: The partnership combines the expertise of SiriusPoint and Holmes Murphy’s expert team.
  • Market Growth: This initiative is in response to the increasing demand for effective risk management solutions.
  • Long-term Partnerships: SiriusPoint aims to expand its MGA partner portfolio through ambitious collaborations.

Statements from Leadership

IPS President Tim Anders emphasized the critical need for umbrella/excess coverage, stating, “Organizations are continuously looking for innovative ways to mitigate rising costs in this area. We are thrilled to launch this program with SiriusPoint, which brings a wealth of expertise and a proven track record to our partnership.”

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The collaboration between IPS, SiriusPoint, and various Holmes Murphy subsidiaries is expected to provide effective solutions for their top-tier brokerage partners and risk-aware insureds.

For more information on captive insurance solutions, visit Holmes Murphy or explore SiriusPoint’s official website.

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