The board has named Daniel Malloy as interim CEO and Sharon Ludlow as interim chair 

SiriusPoint has announced that Siddhartha (Sid) Sankaran, chairman and CEO, has resigned from the company to pursue other opportunities.

The board has named Daniel Malloy as interim chief executive officer while it initiates a search for a permanent successor, and current director Sharon Ludlow as interim chair of the board of directors.

The company has also announced that Daniel Loeb, its largest individual shareholder, will join the board of directors.

Daniel Seth Loeb is an American investor, hedge fund manager, and philanthropist. He is the founder and chief executive of Third Point.

The appointments are effective immediately. 

Sankaran took up leadership of SiriusPoint at the company’s inception in 2021. He was instrumental in the creation of the global re/insurer, having served as the chair of Third Point Re during the acquisition of Sirius Group.

“The board and I would like to thank Sid for his work managing the integration of Third Point Re and Sirius Group, and for launching the Company on a compelling strategic path. We wish him well,” said Ludlow.

“We are also very pleased that Dan Malloy has graciously agreed to rejoin the company on a short-term basis to assist with this transition.”

“SiriusPoint has made tremendous progress since the merger, and I want to thank the team for helping position the company for the future,” said Sankaran.  

Malloy’s most recent position with the company was as president of Global Distribution and Services. 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 of the company since its inception in February 2021.

Ludlow added: “Dan [Loeb] 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.”