Siddhartha Sankaran has resigned as chairman and CEO of the Bermuda-based insurance company and reinsurer SiriusPoint Ltd. “to pursue other opportunities,” the company announced on Tuesday.
Daniel Malloy, former CEO of the company, will take over as interim CEO until a successor is appointed, and Sharon Ludlow, a director of the company, will be interim chairman, a statement from SiriusPoint said.
Sankaran, a former CFO 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. 2020.
In addition, SiriusPoint announced that hedge fund manager Daniel Loeb, the company̵7;s largest single shareholder, has joined the board.
“The company now needs to recruit an experienced CEO to focus on disciplined expense management, profitable underwriting and growth strategies, and support a prudent investment program,” Loeb said in a statement.