Sid Sankaran, the Chairman and Chief Executive Officer (CEO) of Class of 2020 reinsurer, SiriusPoint, has retired from the company and will be replaced by Daniel Malloy on an interim basis.
An announcement from the Bermuda-based carrier states that Sankaran has left the firm to pursue other opportunities.
The Board has elected Daniel Malloy, who’s most recent role with the firm was as President of Global Distribution and Services, to serve as Interim CEO while it begins a search for a permanent successor.
Additionally, current Director at the company, Sharon Ludlow, has been named as Interim Chair of the Board of Directors. The appointments of both Malloy and Ludlow are effective immediately.
In order to ensure a smooth transition, it’s understood that Sankaran will be available as an advisor following his departure.
Ludlow commented: “The Board and I would like to thank Sid for his work managing the integration of Third Point Re and Sirius Group, and for launching the Company on a compelling strategic path. We wish him well. We are also very pleased that Dan Malloy has graciously agreed to rejoin the Company on a short-term basis to assist with this transition.”
“SiriusPoint has made tremendous progress since the merger, and I want to thank the team for helping position the Company for the future,” said Sankaran.
Le by Sankaran, SiriusPoint launched in early 2021 with over $3 billion in initial capital via the combination of Third Point Re and Sirius Group.