elseco Aviation Enters into Strategic Partnership with Sirius Group
As part of its mission to redefine Aviation Insurance, elseco Aviation, which was established 10 years ago and underwrites Airlines, Aerospace and General Aviation, is proud to announce it has entered into a long-term partnership with Sirius International Insurance Group, Ltd. (“Sirius Group”).
elseco Aviation is a pioneer in using a combination of big data analysis and real time pricing analysis to optimize underwriting performance. Working alongside and in partnership with fintech company ATOM™ technologies, elseco Aviation has built one of the most extensive Aviation risks database and technology tools, enabling its team to gain underwriting insights and efficiencies.
Commenting on the transaction, 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 & 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”.
ABOUT ELSECO
elseco is a high technology specialty insurance underwriting platform. More than 50 insurance and reinsurance companies including Lloyd’s syndicates are currently trading on the platform. elseco Group global reach is enabled by its local presence in London, Zurich, Paris, Dubai and Washington DC. elseco via its newly launched Atom™ technology platform is providing “the most advanced underwriting services” to its partners. www.else.co
ABOUT SIRIUS GROUP
Sirius Group, with $2.4 billion of total capital and roots dating back to 1945, is a global multi-line (re)insurer headquartered in Bermuda with a unique global branch network, including offices in Stockholm, New York and London. Sirius Group's success over the years has come from working with honest, capable partners. Sirius Group provides a fully diversified set of tailored risk products to clients in approximately 150 countries, including health and travel products to consumers through its two managing general underwriters, ArmadaCorp Capital, LLC and International Medical Group. Sirius Group has been publicly traded since November 2018. You can learn more by visiting www.siriusgroup.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
We have made statements in this press release that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, including statements about the optimization of Sirius Group's portfolio spread, the gain of market relevance and other benefits to Sirius Group from elesco’s investments, experience and technology platforms . You can identify forward-looking statements by the use of forward-looking terminology such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “target,” “continue,” “could,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “should,” “would,” “seeks,” “likely,” and other similar words and expressions, but the absence of these words does not mean that a statement is not forwardlooking. The forward-looking statements are based on the current expectations of the management of Sirius Group and speak only as of the date of this press release. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this release.