Under the partnership, SiriusPoint will become the sole carrier partner for Euclid Security’s liability program, which provides coverage for security services, alarm services, and fire suppression protection. Euclid Security will underwrite commercial general liability and excess liability risks within the US market.
Euclid Security is backed by Euclid Program Managers and boasts a 32-year legacy in the program insurance industry.
Patrick Charles, Head of North America Insurance for SiriusPoint, expressed strong confidence in the partnership, citing Euclid Security’s solid track record.
“Euclid Security has a proven track record in the security space, with a clearly defined scope to provide protection and underwriting expertise for niche risks,” he said.
“This is a great opportunity to work with a best-in-class MGU, with unrivaled expertise, on a program led by an experienced and talented underwriting team. Our partnership reflects SiriusPoint’s sustained commitment to working with high caliber administrators with expert knowledge in their specialisms that align with SiriusPoint’s risk appetite.”
John Colis, president and CEO of Euclid Security, also commented, saying: “Building sustainable carrier partnerships is a highly relational business, and having taken the time to get to know the team at SiriusPoint, I’m confident that our complementary expertise will make for a successful partnership.”
Colis continued: “Like SiriusPoint, Euclid is an underwriting-first organization, which fosters and nurtures relationships with partners in specialty niches, and with expert teams, building long-term relationships as they grow profitable books of business”.
Ed LaFramboise, managing principal of Euclid Security, added that that the support of SiriusPoint’s financial presence, and ‘underwriting-first’ discipline, enabled “a best-in-class platform to serve the security risks industry now and over the long-term.”
