Reinsurance News
SiriusPoint
SiriusPoint expects July flooding in Europe to dent its Q3 result by up to $100mn
9th September 2021
International specialty re/insurer SiriusPoint has updated its estimated third quarter losses arising from the European floods in July 2021. The flooding occurred in Germany’s North Rhine-Westphalia, Rhineland-Palatinate, and Bavaria and Saxony regions, as well as Belgium, France, Luxembourg, and the Netherlands from July 13th to 18th. Following an original loss estimate of ... Read the full article
SiriusPoint bolsters underwriting team with Pierre Favre
6th September 2021
International specialty re/insurer SiriusPoint has announced that Pierre Favre has joined the company as a Zurich based Senior Underwriter. Favre will report to Bernard Hoge, Vice President, Manager Credit, Bond & Political Risk Reinsurance while focusing on developing strong relationships with brokers and clients to grow SiriusPoint’s book. He has 25 years' ... Read the full article
SiriusPoint improves CR amid remediation drive
6th August 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has reported net income of $64.5 million in the second quarter of 2021. The company also improved its combined ratio to 92.8%, from 99.8% in Q2 of 2020, as it focused on remediation and ... Read the full article
Compre to acquire SiriusPoint legacy portfolio for $417mn
6th August 2021
Compre, the international specialist legacy group, and SiriusPoint have reached an agreement for Compre to acquire a $417 million portfolio of legacy liabilities. The transaction is structured as a loss portfolio transfer and will be underwritten by Compre's class 3A Bermudian reinsurer, Pallas Reinsurance Company Ltd. (Pallas Re). The portfolio in question ... Read the full article
SiriusPoint launches specialty MGA Banyan Risk with Usher-Jones
8th July 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has announced the launch of a new managing general agent (MGA) that will underwrite Directors & Officers (D&O) business, called Banyan Risk. Banyan has been established by Founder and CEO Tim Usher-Jones in partnership ... Read the full article
SiriusPoint’s Q1 combined ratio strengthens to 96.6%
11th May 2021
SiriusPoint Ltd. has reported net income of $130.9 million and a combined ratio of 96.6% for the first quarter of 2021, as catastrophe losses reached $5.7 million in the period. Net income of almost $131 million compares with a net loss of more than $183 million for the prior year quarter. At ... Read the full article
SiriusPoint hires Darryl Siry as Chief Technology Officer
4th May 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has appointed Darryl Siry as Chief Technology Officer. Siry will report to Prashanth Gangu, Chief Operating Officer and President of Insurance and Services, with his position taking place place effective immediately. He will be responsible ... Read the full article
SiriusPoint hires Larry Hallett as SVP, Casualty Underwriting
28th April 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has appointed Larry Hallett as Senior Vice President (SVP) of Casualty Underwriting. Hallet will report to Warren Trace, Head of US and Canada, Americas Reinsurance with a focus on casualty underwriting, including traditional and ... Read the full article
SiriusPoint targets alternative markets with Hestia Capital partnership
26th April 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has announced a new partnership with advisory start-up Hestia Capital. The partnership with the Texas-based advisory firm represents the first that SiriusPoint has entered into since its inception in February 2021. Established by industry ... Read the full article
Allianz & SiriusPoint invest in $118m round for Pie Insurance
26th March 2021
Pie Insurance, an insurtech specializing in workers' comp insurance for small businesses, has raised $118 million in a Series C funding round led by Allianz X and Acrew Capital. Also participating in the round were existing investors SiriusPoint, Greycroft, SVB Capital, Elefund, and Moxley Holdings. The investment is expected to help Pie ... Read the full article
SiriusPoint CEO to ring NYSE Opening Bell
16th March 2021
Following the recent launch of SiriusPoint, a new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, the company's Chairman and Chief Executive Officer (CEO), Sid Sankaran, will today ring The Opening Bell of the New York Stock Exchange (NYSE). The new Bermuda-based company launched on ... Read the full article
Insurer and reinsurer SiriusPoint launches with $3bn+ in capital
26th February 2021
Bermuda-based SiriusPoint Ltd., the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, has officially launched with more than $3 billion in initial capital. Led by Chief Executive Officer (CEO) and Chairman Sid Sankaran, SiriusPoint launches as one of the first substantial players of the ... Read the full article
Further executive roles unveiled at SiriusPoint
22nd February 2021
As the merger between hedge fund-backed reinsurer Third Point Re and multi-line re/insurer Sirius Group nears completion, further executive and senior underwriting roles have been announced at SiriusPoint Ltd. Expected to close on or about the 26th of February, subject to satisfaction of closing conditions, the planned merger received shareholder ... Read the full article
Increased scale will unlock market opportunities, says SiriusPoint
21st January 2021
SiriusPoint, the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, has said that increased scale will allow it to capitalize on more market opportunities. In a recent presentation, SiriusPoint explained that the enhanced scale and underwriting capabilities provided by its merger will make it ... Read the full article
AIG’s David Junius appointed COO of Third Point Re
30th September 2020
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 ... Read the full article