SiriusPoint to offer capacity for Arden Insurance’s wildfire cover

Arden Insurance Services, a US-based managing general underwriter, has received capacity support from SiriusPoint for its new insurance programme designed to protect against wildfire risks.

The programme, known as the Consolidated Fire Insurance Policy (CFIP), will initially be available to property owners in California.

The CFIP offers parametric coverage, which is integrated within the policy.

Arden plans to extend this coverage to additional states that are similarly vulnerable to wildfires.

The company has a particular focus on multifamily residential buildings with its current portfolio covering more than 120,000 buildings.

The capacity agreement was facilitated by Augment Risk.

Arden Insurance Services CEO and co-founder Brian Cohen said: “The recent LA wildfires further exacerbated the insurability crisis for properties located in wildfire exposed areas and CFIP provides comprehensive coverage for this underserved market.

“Our broker partners in California and other parts of the western US have been asking for a solution that would provide peace of mind in a distressed market. We are excited to partner with SiriusPoint to deliver for the industry.”

SiriusPoint North America Insurance head Patrick Charles stated: “We are proud to become a capacity partner to Arden, working together to meet critical market needs with a programme that is both creative and impactful.

“Arden’s thoughtful programme strategy, backed by a decade of proven success in this class of business, is filling a vital gap in an underserved segment.”

In June, SiriusPoint appointed Andrew Pryde as group chief risk officer, a position he will take up in September 2025.

Pryde's responsibilities will include steering SiriusPoint's risk management strategies on a global scale.

"SiriusPoint to offer capacity for Arden Insurance’s wildfire cover " was originally created and published by Life Insurance International, a GlobalData owned brand.

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