Bermudian reinsurer Third Point Re has announced the appointment of David Junius as Chief Operating Officer.
Junius will transition to Chief Financial Officer once Third Point Re completes its merger with international multi-line re/insurer Sirius Group, becoming SiriusPoint.
He brings over 23 years of experience, having most recently served as CFO for the International division of the General Insurance segment at AIG.
He previously served as AIG’s Corporate Treasurer, CFO for the AIG Property and Casualty Asia Pacific operations and Managing Director of AIG Strategic Planning.
Third Point Re says it plans for current CFO Christopher Coleman to continue in his role through the closing of the merger before serving in a mutually agreed senior position at SiriusPoint.
“We are very excited to have David join our team as we create a leading global reinsurer through our merger with Sirius,” said Sid Sankaran, Chairman of Third Point Re.
“Upon closing, SiriusPoint will have the capital, platform, underwriting talent and clients to take advantage of improving market conditions.
“Having worked with David for many years, I know he will be instrumental in our efforts to improve SiriusPoint’s profitability and return on equity which will ultimately generate value for our shareholders.”
Commenting on his appointment, Junius said, “I am thrilled to join Third Point Re given the opportunity presented by a combined SiriusPoint.
“While much has been said about the improving market environment in which we are very well positioned, I also see a clear path to improve our operations and underwriting profitability while managing capital prudently, areas where I have had strong success during my career.
“By bringing a renewed focus on technology, we can position the company to efficiently service our customers and manage risk to enhance SiriusPoint’s earnings and grow book value.”
Sankaran continued, “I am also very pleased that Chris will remain with the Company. Chris has been a tremendous partner as we transform Third Point Re into a global specialty reinsurer with the goal of delivering more consistent returns and profitability.
“Our merger with Sirius will accelerate our progress and I look forward to working with Chris as we continue our journey.”