SiriusPoint partners with Holmes Murphy to expand captive insurance offerings

March 24, 2025

SiriusPoint has unveiled a new strategic partnership with Holmes Murphy, one of the largest independent insurance brokerages in the US.

The partnership sees SiriusPoint working with Holmes Murphy’s wholly owned managing general agent (MGA), Innovative Program Solutions (IPS), to roll out a bespoke umbrella excess insurance product. This new offering is tailored exclusively to the captives managed by Holmes Murphy and its subsidiaries. SiriusPoint will act as the carrier partner, underwriting the new line on a non-admitted basis.

SiriusPoint head of North America insurance Patrick Charles said, “The captive insurance market is experiencing significant growth and transformation, partly driven by the desire for businesses to better manage their risk exposure. Through this relationship, IPS and Holmes Murphy are offering companies access to a unique captive insurance solution that creates greater control and opportunity.

“At SiriusPoint, our aim is to broaden our MGA partner portfolio by working with ambitious partners and helping them excel through long-term collaborations. We believe Holmes Murphy is one of the best organizations for captive business in the market and we look forward to partnering with its expert team to serve its growing customer base.”

IPS president Tim Anders said, “Umbrella/excess coverage is a critical need for organizations forced to find ways to address this area of continuously increasing costs.

“We are excited to launch this program with SiriusPoint as they bring a wealth of expertise, a proven track-record, and a talented team into this partnership. The collaboration between IPS, SiriusPoint, and multiple Holmes Murphy subsidiaries will deliver solutions for our best-in-class brokerage partners and high-quality, risk-aware insureds.”