As Third Point Re continues to staff up its executive and underwriting teams in advance of an anticipated merger with Sirius International Insurance Group Ltd., the Bermuda-based reinsurer has announced that its chief executive officer will have a different role with SiriusPoint.
Dan Malloy, who has been CEO since May 2019, will become President, Global Distribution and Head of Runoff. He will be responsible for distribution and business development, as well as broker and client engagement, and he will oversee SiriusPoint’s runoff division.
He will be based in Bermuda, and the appointment is subject to Bermuda Immigration approval. (Article continues below)
Malloy, who has been an executive for Third Point Re since its inception in 2012, has more than 40 years of reinsurance industry experience, including roles on the distribution side of the business as well as in structured reinsurance underwriting. Prior to joining Third Point, he worked at Aon Benfield from 2003 where he co-led the Specialty Lines practice groups, which were responsible for providing clients and brokers with primary and reinsurance market updates, peer analytics, new product ideas, growth initiatives and placement assistance. Before joining Aon Benfield, he was President and a board member of Stockton Reinsurance Ltd. in Bermuda from 1998 to 2003. He previously served as president of Centre Re Bermuda, where he was employed from 1993 to 1998.
He began his reinsurance career in 1981 working as a reinsurance broker for Sedgwick Re for 12 years.
Third Point made the announcement of his move together with news of four additional appointments:
The SiriusPoint executives will report to SiriusPoint chairman and CEO Sid Sankaran, who is currently Third Point Re’s non-executive chairman of the board.
Recently, the company also announced that: Prashanth Gangu, would join from Oliver Wyman to become chief operating officer and president of Insurance and Services; Rachael Dugan, who joined from Reverence Capital, will become general counsel and David Junius, former chief financial officer of the international division of American International Group’s general insurance business would become SiriusPoint CFO.
SiriusPoint will launch as a top 20 global (re)insurer writing a worldwide portfolio of insurance and reinsurance, including accident and health (A&H), liability, property and specialty.
On the underwriting side, Third Point announced last week that Tim Mardon would become SiriusPoint global head of Property Reinsurance, joining the company from Chubb Tempest Re Bermuda.
Rounding out the underwriting leadership team, SiriusPoint announced the following moves:
“I am delighted with the exceptional team we have formed to lead SiriusPoint,” said Sankaran. “SiriusPoint brings together two companies with an abundance of talent, which is highlighted by these latest appointments. We have a strong leadership team of executives and underwriting talent from within and outside the existing organizations, each bringing outstanding credentials and experience to the business and culture we are building.”
Third Point Re expects to complete the previously announced merger transaction with Sirius International Insurance Group, Ltd. on or about February 26, subject to the satisfaction of the closing conditions.
Source: Third Point Re