HAMILTON, Bermuda. September 10th, 2021 -- SiriusPoint Ltd. ('SiriusPoint' or the 'Company') (NYSE: SPNT), a global specialty insurer and reinsurer, has announced a strategic partnership with Vouch Insurance, the fully-digital business insurance platform for startups. SiriusPoint is providing multi-year underwriting capacity and investing in the company's Series C funding round.
Vouch is a new kind of insurance platform for startups, offering fully-digital, tailored coverage that takes minutes to activate. The company provides comprehensive property and casualty (P&C) insurance to meet the unique and fast changing needs of startups. Vouch's coverages include Business Property, General Liability, Directors & Officers, Employment Practice Liability, Cyber Coverage and a new 'Work from Anywhere' policy launched in response to new working practices created by the pandemic.
The capital raised gives Vouch the ability to invest in their technical capabilities, build embedded insurance with its partners and create a seamless experience for their clients.
'Startups play a critical role in the U.S. economy and traditional insurers have struggled to underwrite these risks and offer solutions to meet the ever-changing needs in this space. We are delighted to support Vouch in providing comprehensive business insurance solutions to the startup sector' said Prashanth Gangu, Chief Operating Officer and President, Insurance and Services, SiriusPoint. 'We welcome Vouch to our growing portfolio of technology and customer focused partnerships driving disruptive change in the Insurance industry'.
'Multi-year underwriting capacity and investment from a company such as SiriusPoint is a key factor in our plans to scale up. It will allow us and our talented and driven team to grow our market position significantly,' said Sam Hodges, CEO and co-founder of Vouch.
SiriusPoint Ltd. (SiriusPoint) is a global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices around the world, we are listed on the New York Stock Exchange (SPNT). We write a global portfolio of Accident and Health, Specialty, Property and Runoff, combining data and creative thinking to underwrite risks with skill and discipline. With over $3 billion total capital, SiriusPoint's operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit www.siriuspt.com
Vouch is offering a new kind of insurance platform for startups, fully-digital, tailored coverage that takes minutes to activate. Vouch works directly with its clients to provide insurance and help manage and avoid risks, rather than brokering their insurance out to legacy carriers, so founders can focus on building their business. Vouch was founded by Sam Hodges and Travis Hedge, who experienced firsthand the value of insurance coverage tailored to a startup's needs. Vouch is backed by Y Combinator, Ribbit Capital, and Index Ventures, and is backed and trusted by Silicon Valley Bank to serve its client base. Vouch has offices in San Francisco and Chicago. Learn more at vouch.us or on Twitter @vouch_group.
Clare Kerrigan, SiriusPoint
Sarah Hills, Rein4ce
We make statements in this report that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of SiriusPoint. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations; trends in insured and paid losses; regulatory and legal uncertainties and other risk factors described in SiriusPoint's Quarterly Reports on Form 10-Q for the periods ended March 31, 2021 and June 30, 2021. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this report.