SiriusPoint Ltd., a global specialty insurer and reinsurer, has announced a strategic partnership with Arden Insurance Services LLC, a leading commercial property managing general underwriter in the United States. This collaboration will see SiriusPoint providing capacity to Arden for its new wildfire exposed risks program, which features embedded parametric coverage. Initially launching in California, the Consolidated Fire Insurance Policy aims to expand to other wildfire-prone states. The partnership addresses a critical market need by offering comprehensive wildfire coverage in an underserved segment, enhancing economic resilience in affected regions. Augment Risk facilitated the capacity deal, highlighting innovative capital structuring to support this initiative.
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