Daniel Loeb To Join SiriusPoint Board
SiriusPoint Ltd announced that Daniel S. Loeb, its largest individual shareholder, will join the Board of Directors.
“We are delighted that Dan is joining the Board at this time as the Company continues to focus on serving our clients as a specialized global insurer and reinsurer,” said Sharon Ludlow, Chair of the SiriusPoint Board of Directors. “Dan has a strong track record as an investor and in creating value for shareholders of companies in which he is involved. Our interests in this regard are completely aligned.”
Mr. Loeb is the founder and Chief Executive Officer of the 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.
Mr. 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.
“SiriusPoint has significant strategic assets and a strong financial and operating model,” Mr. Loeb said. “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.
“I look forward to working with the Board to ensure we execute on these goals and build value for SiriusPoint’s shareholders.”
