HAMILTON, Bermuda. January 18, 2021 — SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), a global specialty insurer and reinsurer, continued its funding of innovative and disruptive insurtechs by investing in Lukka, an institutional provider of crypto data and software.
Investment takes the number of partnerships and investments in by SiriusPoint growing portfolio to over 20.
“Sirius Point is on a mission to invest in truly innovative and disruptive businesses and to support entrepreneurial startups that will change the narrative of the insurance and reinsurance markets,” said Zhang Ming, Director of Investments, Sirius Point.
Lukka, which is now valued at over $1.3 billion, just got up $110 million in its latest round of funding. Sirius Point is one of the main investors. Lukka is the only crypto asset data and software provider that meets industry security standards, such as AICPA Type II System and Organization Controls (SOCs), and investment will allow the firm to broaden its offering to institutional investors who are increasingly interested in, and exposure to, this nascent asset class.
“The crypto and blockchain industries are constantly maturing, being rapidly adopted as part of the mainstream economy by investors, and opening new doors. Lukka’s proven institutional-grade data and software will enable businesses to deliver solutions of crypto and adopting digital assets, and we at Sirius Point look forward to partnering with Lukka to bring top-notch crypto capabilities to continued innovations in insurance and reinsurance solutions,” said Ming.
“We couldn’t be more excited to partner with SiruisPoint as the adoption of crypto assets expands into more industries,” said Robert Materazzi, CEO of Lukka. “SiruisPoint’s commitment to innovation in the insurance industry, combined with its global footprint, makes it an obvious partner for Lukka. We are grateful for the opportunity to work with the Sirius Point team and to have them as an investor in Lukka.”
This latest fundraiser was led by Marshall Wace LLP, and included new investors such Miami International Holdings, Inc., and summer capital. The current investors are: Soros fund management, Liberty City Ventures, S&P Global, and CPA.com (subsidiary of the AICPA), which also contributed significantly to this funding round. This fundraiser follows Lukka’s Series D fundraiser, which raised more than $53 million in March 2021.
Founded in 2014, Lukka provides leading digital asset institutions with middle and back office software and data solutions. Lukka bridges the gap between the complexity of blockchain data and traditional business needs. Its clients include crypto asset exchanges and dealing desks, CPAs and accounting firms, fund and financial auditors, fund administrators, miners, protocols, individuals and any other business that interacts with assets cryptographic. All Lukka products are created with institutional standards, such as AICPA SOC checks, which emphasize accuracy and completeness. Lukka is based in New York City.
For more information about Lukka, visit https://lukka.tech/.
On Sirius Point
SiriusPoint Ltd. (Sirius Point) is a global insurer and reinsurer providing solutions to clients and brokers in nearly 150 countries. Bermuda-headquarters with offices around the world, we are listed on the New York Stock Exchange (SPNT). We write a global accident and illness, specialty, property and liquidation portfolio, combining data and creative thinking to underwrite risk with skill and discipline. With over $3 billion the entire capital, by SiriusPoint the operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, visit www.siriuspt.com.
Claire Kerrigan, Sirius Point
Sarah Hills, To strenghten
We make statements in this report that are forward-looking statements within the meaning of we federal securities laws, including with respect to Lukka’s software products enabling companies to provide crypto solutions. We intend that these forward-looking statements be covered by the safe harbor provisions for forward-looking statements in the we Federal Securities Laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements made on behalf of Sirius Point. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in operating results; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; uncertainty of the success of an investment in early-stage businesses, such as the risk of loss of an initial investment, widely varying returns on investments, delay in receiving return investments, and difficulties in liquidating investment; the costs, expenses and difficulties of integrating the activities of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; our ability to assess underwriting risk, property and casualty insurance and reinsurance rate trends, competition, investment market and investment income fluctuations, insured and paid claims trends, regulatory and legal uncertainties and other risk factors described in by SiriusPoint Quarterly reports on Form 10-Q for periods ended March 31, 2021 and June 30, 2021. Except as required by applicable law or regulation, we undertake no obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this report.