SiriusPoint posted higher underwriting income in the first quarter than a year ago and lowered its combined ratio to 96.6% from 98.6% in what was a heavy cat quarter for the industry.

The executive’s responsibilities will be taken on by chief operating officer Jim Williamson.

The business reported a negative investment return of 0.3%, up from a negative return of 4.6% a year earlier.

The result reflected a significant improvement on the prior-year quarter, when the investment book was hit by the pandemic.

The Bermudian booked a $4.6mn loss from Winter Storm Uri.

Aspen’s outwards reinsurance team now also joins the carrier’s capital markets unit.

Kevin Rehnberg says the carrier is disappointed with the level of catastrophe losses but expects less volatility going forward.

Darryl Siry joins with immediate effect and will launch an InsurTech incubator for the carrier.

The US-focused specialty insurer dropped its core loss ratio by almost two points as it delivered its best underlying underwriting result since 2016.

Marina Barg joins the business from WR Berkley.

Thomas Uribe moves to Axis from Axa XL, where he was a senior excess casualty underwriter.

The ratings agency also affirms the carrier’s financial strength rating of A.