Sirius strikes aviation partnership with MGA Elseco

Bermuda-based Sirius International Insurance Group has entered into a strategic long-term partnership with specialty MGA Elseco, covering airlines, aerospace and general aviation.

The partnership will see Sirius join elseco's aviation platform enabling its team to gain underwriting insights and efficiencies.

Elseco Aviation uses a combination of big data analysis and real time pricing analysis to optimise underwriting performance.

Monica Cramér Manhem, president of global reinsurance of Sirius Group, said: “We have been following the growth of elseco Aviation and its drive and commitment to provide a new type of leadership within Aviation insurance.

"We believe that joining the elseco platform provides us with an efficient way to not only optimize our portfolio spread and gain market relevance but also benefit from years of investments and experience of elseco and its technology platforms. The long-term nature of our partnership is reflective of the confidence we have in elseco’s systems, internal processes and underwriting discipline.”

Laurent Lemaire, founder and CEO of elseco, said: “This is an extremely exciting time in the development of elseco Aviation. Our strategic partnership with Sirius Group allows us to provide our clients with long term commitments which are becoming more and more important in the current world situation.

"We strongly believe that systems and data will be the next competitive advantage and we look forward to accelerating our tech journey innovating and launching better products for our insured clients together with our strategic partners ATOM technologies and Sirius Group.”