SiriusPoint appoints new director to its board

SiriusPoint appoints new director to its board | Insurance Business New Zealand

Reinsurance

SiriusPoint appoints new director to its board

Latest move brings the board to 10 members

Reinsurance

By
Kenneth Araullo

Global specialty re/insurer SiriusPoint has announced the appointment of Susan Cross (pictured above) as board director, effective May 24, 2024. Her addition brings the total number of board members to 10.

Cross has over 40 years of experience in the reinsurance industry, focusing on developing and leading actuarial and analytical functions to support global growth.

She has been a director of Enstar Group Limited since October 2020 and previously served as executive vice president and global chief actuary at XL Group (now AXA XL) from 2008 to 2018.

In addition to her roles at SiriusPoint and Enstar, Cross serves as a non-executive director at Unum Group, a Fortune 500 insurer. She has also been on the boards of IFG Companies, American Strategic Insurance, Mid Ocean Limited, and XL Life Ltd.

Bronek Masojada, chair of the board at SiriusPoint, welcomed Cross’s addition to the board.

“Susan is a business leader and an experienced board director who fosters innovative cultures to drive growth. Her experience of working with global organizations through various stages of evolution will be invaluable as we continue to support the executive leadership team and the wider business, as they execute SiriusPoint’s plans and deliver results for our shareholders,” Cross said.

He added that he looks forward to working with Cross as she brings her global insurance knowledge, financial expertise, and strategic thinking to the board of directors.

Earlier this month, SiriusPoint disclosed its financial results for the first quarter ended March 31, 2024, revealing shifts in core premium volumes and core results.

In the first quarter, SiriusPoint experienced a decrease in gross premiums written by $179.5 million, or 16.9%, totaling $880.7 million, down from $1,060.2 million in the comparable period of 2023. Net premiums earned also fell by $32.9 million, or 6.0%, to $517.8 million.

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