SiriusPoint Hires CTO to Lead its Technology Drive
May 03 2021 - 4:15PM
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.
About SiriusPoint
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
SiriusPoint Contacts
Investor RelationsClare Kerrigan,
SiriusPointclare.kerrigan@siriuspt.com+44 7970695959
MediaSarah Hills,
Rein4cesarah.hills@rein4ce.co.uk +44 7718882011
Forward-Looking Statements
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.
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