SiriusPoint taps former Hiscox CEO Masojada as board chair
- July 8, 2024
- Posted by: Web workers
- Category: Finance
SiriusPoint Ltd. on Friday named industry veteran Bronek Masojada as chair of its board of directors, effective immediately.
Mr. Masojada replaces Sharon Ludlow, who had acted as interim board chair since May of last year. Ms. Ludlow will continue to serve as a non-executive director, the Bermuda-based insurer and reinsurer said.
Mr. Masojada, who retired as CEO of London-based Hiscox Ltd. in 2021 after a nearly 30-year career at the company, joined SiriusPoint’s board May 2.
SiriusPoint said last month it had reversed earlier plans to go private, stating that it had made progress on improving its underwriting performance and rebalancing its investment portfolio.
SiriusPoint last year announced various office closures and staff layoffs after reporting a net loss of $98 million for the third quarter of 2022 due to Hurricane Ian and investment losses.
The insurer on May 3 reported first-quarter net income of $138.6 million, compared with a loss of $217 million in the prior-year period. Its combined ratio improved to 80.5%, from 97.5% in the first quarter of 2022.
