SiriusPoint Ltd. is deploying capacity into the US landlord insurance segment through a partnership with Steadily, adding a short-tail property portfolio to its underwriting mix.
The agreement provides capacity to Steadily, a managing general agent (MGA) specializing in insurance solutions for real estate investors. Founded in Texas in 2020, the company operates across all 50 US states and focuses on rental property coverage.
Patrick Charles, global head of P&C programs at SiriusPoint, said, “Steadily is a strong example of the type of MGA partner we look to support - focused, disciplined and highly customer centric.” He added, “Their ability to deliver fast, high quality underwriting through a purpose built technology platform, combined with rigorous underwriting standards and real time exposure management, sets them apart in the lessor’s risk market.”
The deal enters a market where landlord insurance pricing and underwriting standards continue to tighten. Industry data in 2026 indicates annual premiums for standard rental properties typically range from $800 to $3,000, with higher-risk locations reaching $2,200 to $4,600 or more. Landlord policies generally cost 15% to 25% more than homeowners insurance due to higher claim frequency, liability exposure, and loss-of-income coverage requirements.
The segment continues to grow, with market estimates placing its value at $20.7 billion in 2023 and projecting $40.9 billion by 2032. At the same time, underwriting scrutiny has increased due to weather-related losses, rising rebuild costs, and claims linked to tenant occupancy, including water damage and liability incidents.
These conditions have contributed to demand for more specialized underwriting platforms and program structures focused on rental property risks.
Steadily uses an automated underwriting platform designed specifically for landlord insurance, enabling quoting, underwriting, and binding within minutes. Its digital system is structured around property management workflows and supports coverage for single-family homes, multifamily properties, condominiums, and short-term rentals.
The company has reported more than $250 million in annualized gross written premium and has integrated with over 400 property technology platforms, including Roofstock, TurboTenant, FurnishedFinder, and BiggerPockets, allowing property data to be ingested with limited manual input. These details were reported in the company’s Series C funding round.
Steadily raised $30 million in that round, bringing total funding to $89.5 million and valuing the business at $355 million, according to reports published at the time.
“At Steadily, we are focused on building long-term relationships that enable us to deliver high-quality services and tailored solutions for our clients,” Datha Santomieri, co-founder and chief operating officer at Steadily.
“SiriusPoint brings deep expertise in the property and casualty space, a collaborative mindset, and a long-term approach that aligns with how we build our business,” she added.
The transaction sits within SiriusPoint’s Global P&C Programs division, formed through a consolidation of its North America and International Programs businesses as part of a broader restructuring announced earlier. The changes were described in prior reporting as part of efforts to refine underwriting focus and streamline operations.
SiriusPoint operates from Bermuda with offices in New York, London, Stockholm, and other locations. It is listed on the New York Stock Exchange under SPNT and holds licenses to write property and casualty and accident and health insurance and reinsurance globally.
The company reports total capital exceeding $3.0 billion. Its operating companies carry financial strength ratings of A from Fitch, A- from AM Best and S&P, and A3 from Moody’s.
