Global specialty re/insurer, SiriusPoint has announced its partnership with Eaton Gate, a London-based Managing General Underwriter (MGU), which will be primarily focused on UK property casualty insurance business.
Eaton Gate writes in excess of £100 million through its group of managing general agents (MGA’s) and is one of the largest MGU/MGAs in the UK.
According to SiriusPoint, the deal reinforces the re/insurer’s highly targeted strategy to develop MGA partnerships based on income, risk appetite alignment and synergy with the company’s underwriting expertise, vision and values.
Eaton Gate is the first MGA partnership to have emerged from SiriusPoint International’s new MGA Centre of Excellence, which was launched earlier in the year to deliver an efficient and collaborative onboarding experience for new MGA partners.
The approach mirrors the company’s North American structure and enables operational efficiencies and access to expertise across the Company’s global platform, allowing partners to benefit from the ‘one SiriusPoint’ ethos.
Rob Gibbs, Chief Executive Officer, SiriusPoint International, commented: “Our partnership with Eaton Gate is a major first step in the delivery of our International strategy. I’m proud to see the SiriusPoint International MGA Centre of Excellence putting our plan into practice and collaborating across the global business to make it happen.
“Thank you to everyone who has worked so hard to support this next stage of our growth. I look forward to seeing the International business continue to evolve with expert partners such as Eaton Gate, and our MGA Centre of Excellence go from strength to strength.”
For Eaton Gate, Group Chief Operating Officer Jonathan Matthews noted, the addition of a global partner like SiriusPoint to the company’s panel will support the next stage of its growth.
“Combining the strongest underwriting capacity available, and a senior management with blue-chip UK market pedigree, SiriusPoint will accelerate our strategy to service our national and selected regional broking partners and their customers with interesting and useful SME commercial and mid-market home underwriting capability,” said Matthews.
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