Global specialist reinsurer SiriusPoint has announced a new strategic partnership with Hellenic Hull Management (HMA), a hull and machinery insurer based in Greece and Cyprus. The collaboration aims to strengthen its offering in the marine insurance sector.

Under the partnership, Sirius Point will provide the ability to underwrite a select portfolio of high-quality structural and machinery risks, as well as additional coverages. Sirius Point has a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and an A3 rating from Moody’s.

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HMA, which has been a major player in the shipping industry in Greece and Cyprus for three decades, specializes in insurance management for all types of vessels. The company was also the first shipping company to adopt the United Nations Principles for Sustainable Insurance.

Steve Smith (pictured above), Sirius Point’s Global Head of Marine, commented on the partnership, highlighting the opportunity to build strong and lasting relationships with experienced MGAs in the maritime sector.

“We feel we can support and enable an experienced partner like Hellenic Hull to succeed in a market with a long history and proven track record. At SiriusPoint, we want to work with experienced and ambitious facilities management companies, helping them excel by understanding and identifying the right kind of support they need from us to achieve their ambitions,” said Smith.

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Ilias Tsakiris, CEO of Hellenic Hull Management and Chairman of the Ocean Hull Committee of the International Union of Marine Insurance (IUMI), expressed his enthusiasm about this partnership.

“Sirius Point’s presence across continental Europe is coupled with its growing marine offering and its approach to empowering MGA partners,” said Tsakiris. “The team’s expertise, the strength of Sirius Point’s credentials and the individual support they provide to our business will be key factors in our company’s growth and success. We look forward to a strong and lasting relationship with Sirius Point.”

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