Reinsurance News
SiriusPoint
SiriusPoint has built firm foundation for success: CEO Egan
24th April 2023
In a letter to shareholders, SiriusPoint Chief Executive Officer (CEO) Scott Egan has asserted that the specialty re/insurer has “been working at pace and already taken significant action to establish a firm foundation for future success.” His comments follow the company’s acknowledgement of a proposal from Third Point CEO Daniel ... Read the full article
Third Point’s Loeb angles to take SiriusPoint private
13th April 2023
Third Point CEO Daniel Loeb has said he will explore options to take specialty re/insurer SiriusPoint private, in an effort to improve the company's financial position and better execute on its turnaround strategy. Loeb outlined his plans in a regulatory filing this week, explaining that Third Point will look at “a ... Read the full article
SiriusPoint extends partnership with Arcadian as MGA eyes significant growth
7th March 2023
Specialty insurer and reinsurer SiriusPoint and Arcadian Risk Capital, a Bermuda domiciled Managing General Agent (MGA) backed by the former, have extended their multi-year partnership through 2026 as Arcadian looks to continue with its ambitious growth strategy. Arcadian was formed in October 2020 by John Boylan, a well-known industry executive who leads ... Read the full article
SiriusPoint & Compre announce $1.3bn reinsurance loss portfolio transfer
2nd March 2023
Bermuda-headquartered re/insurer SiriusPoint and Compre, a global legacy group, have signed an agreement for a ground-up loss portfolio transfer (LPT) which covers approximately $1.3 billion of reserves underwritten by SiriusPoint's international reinsurance business in Sweden, and its Lloyd's Syndicate 1945. This LPT is subject to regulatory approvals and other conditions of ... Read the full article
SiriusPoint reports FY net loss as it continues pull from cat exposed business
24th February 2023
Bermuda-headquartered re/insurer SiriusPoint has reported a full year net loss of $403 million, with a net loss in Q4 alone of $27 million. The firm's combined ratio for the year sat at 96.4%, down from 109.1% in 2021, while full year underwriting income was $83 million, compared to an underwriting loss ... Read the full article
SiriusPoint’s Nicole Mitchell appointed to Xceedance board of directors
10th February 2023
Re/insurance service provider, Xceedance has announced the addition of Nicole Mitchell to its board of directors. As a member of the board, her responsibilities will include providing strategic guidance for the organisation as well as setting and measuring organisational goals for continued global expansion. Mitchell currently serves as the chief enterprise architect ... Read the full article
Trecia Sigle joins SiriusPoint as Global Head of Claims
31st January 2023
Bermuda-headquartered re/insurer SiriusPoint has appointed Trecia Sigle as Global Head of Claims, effective February 6, 2023. Within this role, she will report to Patrick Charles - Global Head of Property and Casualty (P&C) Insurance & Services. As Global Head of Claims, Sigle will hold responsibility for the overall management and strategic direction ... Read the full article
SiriusPoint names Maddie Morris Underwriter, Energy & Marine Liability
26th January 2023
Global specialty re/insurer SiriusPoint has appointed Maddie Morris as an Underwriter in its Energy & Marine Liability team. Morris holds almost a decade of experience in Marine & Energy Liability underwriting, joining SiriusPoint from Munich Re Syndicate. In her new role, Morris will oversee the growth and refinement of the firm's Marine ... Read the full article
SiriusPoint teams with Distinguished Programs on environmental insurance
20th January 2023
National insurance program manager, Distinguished Programs has entered into a partnership with SiriusPoint Ltd., to expand into Environmental, Construction Pollution and Professional Insurance. Under the agreement, SiriusPoint's Environmental team, which is led by Doug Stepenosky, will move to Distinguished. However, business will continue to be written on SiriusPoint paper per a multiyear ... Read the full article
A complicated and challenging 2023 for reinsurers: SiriusPoint’s Chester
4th January 2023
Reinsurers are to face a complicated and challenging 2023 with increasing uncertainty, warned Ari Chester, SiriusPoint’s Head of US and Canada Reinsurance, in an interview with Reinsurance News. According to Chester, while reinsurance supply remains very competitive, dynamics are shifting, like in the property markets. Additionally, he noted, with the prospect ... Read the full article
Jan 1st reinsurance renewal season is an “epiphany”, says SiriusPoint’s Ari Chester
23rd December 2022
With the upcoming 1/1 reinsurance renewals looming closer, SiriusPoint’s Head of US and Canada Reinsurance, Ari Chester, spoke to Reinsurance News about the renewal season and the firm's outlook. “This renewal season is an epiphany, a sudden awareness that insurance balance sheets need to be compensated for property volatility. And it’s ... Read the full article
SiriusPoint adds Rob Gibbs to senior international leadership team
8th December 2022
SiriusPoint has appointed Rob Gibbs as president of its international business as well as CEO of SiriusPoint International Insurance Corporation. Gibbs is set to join the company next week and, based in London, will be responsible for driving growth, development, and profitability within SiriusPoint’s international platform. He will be responsible for the ... Read the full article
We need to be disciplined & nimble in our approach to the market: SiriusPoint’s Scott Egan
10th November 2022
SiriusPoint’s CEO Scott Egan has said that the firm must be disciplined in its risk appetite and nimble in its approach to the market as it looks to restructure its underwriting platform following a net loss of $98 million for the Q3 period. SiriusPoint reported an underwriting loss of $47m ... Read the full article
SiriusPoint shuts offices in property cat restructure, after Q3 loss
3rd November 2022
SiriusPoint has announced plans to close three offices from which it underwrites property catastrophe reinsurance and reduce its footprint in two more, as it looks to restructure its underwriting platform following a net loss of $98 million for the Q3 period. The company reported an underwriting loss of $47 million for ... Read the full article
SiriusPoint appoints Steve Yendall to CFO role
13th October 2022
Bermuda-based specialty insurer and reinsurer SiriusPoint has appointed Steve Yendall to be its new chief financial officer. The firm said in a statement that Yendall is moving over from Guy Carpenter in Canada and North America where he was managing director. Prior to that, he was CFO and COO at RSA ... Read the full article
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