SPNT - SiriusPoint to sell its Lloyd's managing agency to Mosaic Insurance

Global (re)insurer SiriusPoint (NYSE:SPNT) on Thursday agreed to invest in Mosaic Insurance to provide underwriting capacity to its syndicated capital program, as well as enable access to global licenses and infrastructure. Sid Sankaran, chairman and CEO of SiriusPoint (SPNT), will take a seat on Mosaic’s board.  Moreover, SiriusPoint (SPNT) will sell its Lloyd’s managing agency, Sirius International Managing Agency ("SIMA"), to Mosaic, the company said. SIMA will continue to provide services to Syndicate 1945 via a third-party syndicate management deal. “Reinvigorating our Lloyd’s business is a key element of our strategy,” said Sankaran. "“Syndicate 1945 is an important part of our global platform providing us and our strategic partners with access to the licenses and ratings that Lloyd’s offers," he added. Previously, (Nov. 9, 2021) SiriusPoint signed a multi-year underwriting deal with LimitFi.

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SiriusPoint to sell its Lloyd's managing agency to Mosaic Insurance