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Top Stories / Ad / Most Recent
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The carrier showed improvement in the underlying profitability of the carrier as the turnaround continues.
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The move follows the arrival of Jonathan Zaffino, the former CEO of Everest Insurance, as Ascot’s group president. -
The carrier says it expects inter-company efficiencies and savings from the redomestication.
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The PE firm, whose founder sits on the Bermudian’s board, began building the stake in March.
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The PE firm’s holding in the Bermudian carrier is worth roughly $259mn.
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The executive joins after 15 years at the Fairfax-owned carrier.
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The group’s combined ratio improved by 9.5 points to 95.9%.
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Third Point’s current CEO Malloy called the timing of the deal ‘critical’ as the 1.1 renewal looms.
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John Lupica steps into the role of president for North America commercial and personal insurance.
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Sankaran will need to land a difficult integration and shrug off the total return reinsurer label.
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The company generated $1.34/share in net earnings, doubling the reinsurer’s total profits from a year ago.
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Fitch retained its negative outlook on Sirius, noting the carrier’s “operating performance deterioration in recent years” and exposure to Covid-19 losses.
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