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Marketing 15 May 2023 Alta Signa Press Releases

Alta Signa highlighted in SiriusPoint Annual Report as strategic partner

European boutique MGA Alta Signa was delighted to be featured in the 2022 SiriusPoint Annual report as one of five MGA partnerships that contribute to SiriusPoint’s strategy and profitability. 

Commenting in the Annual Report on the company’s MGA and program manager strategy, SiriusPoint’ CEO Scott Egan said:

“Our distribution and program business is substantial and there are great opportunities for us to grow that. Many of the programs come to us because they believe we can add value to their business and help them grow, as well as bring deep expertise in their areas of specialism. 

We are more than a paper and capital provider. In addition to our investments, our consolidated partnerships are important and are an attractive part of our organization. We are really focused on the MGAs that we think can help shift the dial and can overlap and complement our underwriting strategy. We have some amazing stories among our consolidated distribution partners, the growth profile is strong, and the relationships are fantastic.”

Alta Signa’s goal is to be a preferred business partner for regional, national and pan-European insurance brokers servicing commercial and corporate clients locally. In 2022, SiriusPoint entered a strategic partnership with Alta Signa, which fast-tracked the MGA’s growth plans. Alta Signa strives to become the European distribution hub for SiriusPoint’s global specialty insurance products. 

Gerard van Loon, Alta Signa CEO, said: 

“Our business model is based on local distribution combined with technology-led underwriting expertise and client servicing. This helps us build a company with a unique value proposition, focused on productivity, sustainable underwriting profits, and quality of services – as well as creating a fun and dynamic environment in which to work. 

Our expert approach to portfolio management, our pricing discipline, our individual risk selection criteria and our broker engagement protocols are the key drivers of profitability in this competitive market space. 

Following SiriusPoint’s investment in 2022, we doubled our premium volume. We received our first profit commission, validating our underwriting approach. We have proven that our underwriting approach is resilient, sustainable, and scalable. The next step is to further broaden our geographic footprint and widen our product offering. 

We are looking to expand into areas with a growing client demand. Cyber, Political Risks and new insurance solutions for the stricter European ESG regulations are high on our agenda. 

We also hold the view that Warranty and Indemnity insurance has still a bright long-term future despite the recent influx of new insurance capacity and the adverse current economic environment. We also like lines of business and client segments with an insurance capacity dislocation between supply and demand. PI/Cyber insurance solutions for the smaller European technology companies would be a good example.”

Access the full SiriusPoint Annual Report here - with Alta Signa’s highlight on page 14.

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