SiriusPoint Ltd. announced that Chairman and CEO Siddhartha (Sid) Sankaran has resigned from the company to pursue other opportunities.
Daniel Malloy has been named as interim chief executive officer while the board initiates a search for a permanent successor, and current Director Sharon Ludlow has been named interim chair of the Board of Directors.
Both of these appointments are effective immediately. Sankaran will be available as an advisor to the company after his departure to ensure a smooth transition.
Malloy’s experience in the reinsurance industry spans more than four decades. He most recently served as president of Global Distribution and Services at SiriusPoint. He was previously the CEO of Third Point Re.
Ludlow is the former president and CEO of Swiss Re Canada and has served as a director SiriusPoint since its inception in February 2021. She is currently a director on the boards of Lombard International, EIS Group and Green Shield Canada. She is also a Fellow of the Chartered Professional Accountants (FCPA, FCA) in Canada.
SiriusPoint also announced that Daniel S. Loeb, its largest individual shareholder, will join the Board of Directors.
Loeb is the founder and CEO of asset management firm Third Point LLC. He was the founder of Third Point Re and instrumental in the merger of that company with Sirius Group to create SiriusPoint in 2021.
Loeb, who has had board observer rights since SiriusPoint was established, will transfer those rights to Joshua L. Targoff, a partner at Third Point LLC, who will be leaving the SiriusPoint Board.