SiriusPoint
-
The newly formed (re)insurer is to support the start-up led by AmTrust alumni. -
The start-up is aiming for a July 1 launch, initially offering non-admitted property coverage in the Northeast and Midwest, before expanding into other lines.
-
Third Point Re also confirmed Tim Mardon as global property head and named Rachael Dugan as general counsel.
-
The executive will join the reinsurer ahead of the close of its merger with Sirius International later this month.
-
The company expects reinsurance to provide 78% of its $2.5bn gross written premium target.
-
Coleman will act as interim chief accounting officer until May 2021.
-
The structure simplifies access to Sirius E&S capacity for brokers.
-
Sirius shareholders favour the deal but dissent on compensation proposal.
-
Across the P&C market, share prices outstripped the 1.16% uptick in the S&P 500 index and the 2.28% rise in S&P 500 financials.
-
Loeb will lose rights including the ability to veto important company decisions and to select a board observer.
-
The hedge fund reinsurer offered to merge with Sirius in May 2018, before the company’s listing on the Nasdaq exchange.
-
The work finalises a restructure spearheaded by former Travelers executive Beth Boucher.
