LimitFi & SiriusPoint Announce Partnership
Limit Financial and SiriusPoint Ltd. announced a “multi-year underwriting capacity partnership and a strategic investment that will support existing and future credit insurance product offerings.”
A spokesperson said, “Limit Financial [LimitFi], a managing general agent [MGA] specializing in credit insurance and reinsurance solutions, and SiriusPoint Ltd. [“SiriusPoint”], a global specialty insurer and reinsurer, today announced a multi-year underwriting capacity partnership and a strategic investment that will support existing and future credit insurance product offerings.
“This partnership provides LimitFi with committed capacity to execute credit insurance, and SiriusPoint with immediate access to credit insurance opportunities underwritten through LimitFi’s platform. LimitFi will provide an end-to-end solution including the origination, analysis, and management of all policies.
“LimitFi is committed to delivering value to [re]insurers by providing a platform that results in better risk taking, more diversified exposures and enhanced profitability for our partners,” said Adam Budnick, co-founder of LimitFi. “This new partnership will play an integral role in LimitFi delivering on its mission.”
“With their multi-year underwriting capacity arrangement and SiriusPoint’s investment in LimitFi, the companies aim to improve and expand on this already growing credit insurance market.
“We are thrilled to announce our partnership with LimitFi. Credit insurance is an increasingly important product for many counterparties. We see a significant opportunity to capitalize on the rapidly growing market need for non-payment insurance that is not currently being met,” said Prashanth Gangu, COO and President, Insurance and Services, SiriusPoint.
“SiriusPoint considered several approaches to market and decided on a multi-year underwriting capacity arrangement and investment partnership with LimitFi. We were impressed by the team’s vision, underwriting skill, analytical approach, and deep market relationships. The LimitFi future roadmap with regards to talent, development and technology is extremely promising.”
“The addition of SiriusPoint to the LimitFi platform will be a tremendous accelerant to LimitFi’s capabilities and growth,” said Zach Smith, co-founder of LimitFi. “We thank our new partners for making this possible.”
