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Sankaran resigns as SiriusPoint CEO; Loeb joins board

Siddhartha Sankaran

Siddhartha Sankaran has resigned as chairman and CEO of Bermuda-based insurer and reinsurer SiriusPoint Ltd. “to pursue other opportunities,” the company announced Tuesday.

Daniel Malloy, previously an executive at the company, will take over as interim CEO until a successor is named, and Sharon Ludlow, a director of the company, will be interim chair of the board of directors, a SiriusPoint statement said.

Mr. Sankaran, a former chief financial officer of American International Group Inc., became the top executive when SiriusPoint was created through the merger of Third Point Reinsurance Ltd. and Sirius International Insurance Group Ltd. in 2020.

In addition, SiriusPoint announced that hedge fund manager Daniel Loeb, the company’s largest individual shareholder, has joined the board of directors.

“The company now needs to recruit an experienced CEO to focus on disciplined expense management, profitable underwriting and growth strategies, and supporting a prudent investment program,” Mr. Loeb said in a statement.