HAMILTON, Bermuda, May 03, 2021 (GLOBE NEWSWIRE) — SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), an international specialty insurer and reinsurer, has announced that Darryl Siry will become Chief Technology Officer, effective immediately.
Mr. Siry will be responsible for SiriusPoint’s global technology function, with a focus on building a modern technology and operating platform to position the company for growth. He is also responsible for standing up an insurtech incubator that will launch new digital products and solutions.
Reporting to Prashanth Gangu, Chief Operating Officer and President of Insurance and Services, Mr. Siry is an experienced technology, marketing and operations executive. He will be working on developing an efficient, effective and scalable operating platform for all SiriusPoint operating entities and maximizing the value of SiriusPoint’s insurtech partnerships and investments.
“We are delighted that Darryl has joined our leadership team,” said Mr. Gangu. “We launched SiriusPoint with a vision and intention of becoming a tech-enabled (re)insurer and driving disruptive change in the industry. Hiring Darryl, an experienced insurance executive with strong entrepreneurial DNA, will accelerate our efforts.”
Chairman and CEO of SiriusPoint, Sid Sankaran, commented: “I am very excited about Darryl’s hire as a step towards our future as an innovative (re)insurer. We are committed to building a strong technology foundation to ensure that SiriusPoint is an industry leader in this regard.”
Mr. Siry joins SiriusPoint from ProSight Specialty Insurance Group, a specialty insurance company, where he served as Chief Technology and Operations Officer. At ProSight, he led a portfolio of initiatives including digital transformation, customer experience and vendor management. He was also responsible for leveraging technology and operations to drive the efficiency and effectiveness of the ProSight Operating platform while delivering awesome customer experiences. As President of ProSightDirect, he launched an Insurtech platform that provided small business professionals with a simple insurance buying experience and a fully online end-to-end servicing platform.
Prior to ProSight, Darryl founded NewsBasis, an online service for PR professionals and journalists targeting small businesses. He also ran Marketing, Sales and Communications during the early growth stage at Tesla when the Roadster was launched. Prior to Tesla, Darryl held various executive roles at Fireman’s Fund / Allianz.
SiriusPoint Ltd. (SiriusPoint) is a top 20 global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices around the world, we are listed on the New York Stock Exchange (SPNT). We write a global portfolio of Accident and Health, Property, Liability and Specialty business, combining data and creative thinking to underwrite risks with skill and discipline. With over $3 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit www.siriuspt.com
Clare Kerrigan, SiriusPoint
Sarah Hills, Rein4ce
We make statements in this report that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about SiriusPoint Ltd.’s (“SiriusPoint”) intentions to become a tech-enabled (re)insurer, drive disruptive change in the industry, build a modern technology and operating platform and maximize the value of SiriusPoint’s insurtech partnerships and investments.The forward-looking statements are based on the current expectations of the management of SiriusPoint and speak only as of the date of this document and are subject to significant risks and uncertainties outside of our control. You can identify forward-looking statements by the use of forward-looking terminology such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “target,” “continue,” “could,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “should,” “would,” “seeks,” “likely,” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; loss and loss adjustment expense reserves may be inadequate to cover SiriusPoint’s ultimate liability for losses and as a result its financial results could be adversely affected; SiriusPoint’s investment portfolio may suffer reduced returns or losses; adverse changes in interest rates, foreign currency exchange rates, equity markets, debt markets or market volatility could result in significant losses to SiriusPoint’s investment portfolio; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; SiriusPoint has significant deferred tax assets, which may become devalued if either SiriusPoint does not generate sufficient future taxable income or applicable corporate tax rates are reduced; lack of availability of capital; future strategic transactions such as acquisitions, dispositions, mergers or joint venture; technology breaches; SiriusPoint’s lack of control over the TP Fund and the allocation and performance of TP Fund’s investment portfolio; SiriusPoint’s dependence on Third Point LLC to implement TP Fund’s investment strategy; and Arcadian Risk Capital Ltd.’s ability to, and success at, writing the business indicated, its expansion plans and the Company’s ability to place quota share reinsurance on the portfolio. Discussions of additional risks and uncertainties are contained in SiriusPoint’s filings with the Securities and Exchange Commission (the “SEC”), including risks identified in SiriusPoint’s (f/k/a Third Point Reinsurance Ltd.) Annual Report on Form 10-K for the year ended December 31, 2020, and other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by the management of SiriusPoint prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this report.
Source: SiriusPoint Ltd.