SiriusPoint Ltd, the Bermudian-based global specialty insurer and reinsurer, and Pennsylvania-headquartered programme administrator ProVerity Underwriters have announced a new strategic partnership.

As a provider of capacity, SiriusPoint will work closely with ProVerity to develop customised solutions for the professional liability market.

Based in Philadelphia and founded in 2023, ProVerity combines its underwriting experience and expertise of complex risks to provide specialty products to underserved areas of professional liability business.

Its products include miscellaneous professional, architects and engineers, and excess professional.

Patrick Charles, head of North America Insurance, SiriusPoint, said: “Our partnership with ProVerity will significantly strengthen our footprint in the professional liability space.

“ProVerity’s underwriting expertise, vision and values, and its commitment to sustainable underwriting throughout hard and soft market cycles supports SiriusPoint’s strategy to work with programmes that align with our risk appetite, growth plans and specialisms.”

Marc Garganigo, managing director, ProVerity Underwriters, added: “SiriusPoint’s financial strength, commitment to professional lines and alignment with ProVerity’s underwriting approach are pivotal factors to our success as we enter the professional liability space.”