SiriusPoint names new senior underwriter for energy liabilities

SiriusPoint names new senior underwriter for energy liabilities | Insurance Business Asia

Insurance News

SiriusPoint names new senior underwriter for energy liabilities

He brings almost four decades of expertise to the global re/insurer

Insurance News

By
Kenneth Araullo

Global re/insurance group SiriusPoint has announced the addition of Xander Butcher to its London Energy team, where he will serve as senior underwriter – energy liabilities.

Butcher brings over 37 years of experience in the insurance market, with a career spanning various leadership roles in the energy sector.

Most recently, Butcher served as head of international energy liability at Starr Insurance Companies, where he managed and developed the international energy liability book of business, covering upstream, midstream, and downstream sectors.

Before that, he held the position of head of energy liabilities at Canopius Group, where he oversaw the integration of Canopius and AmTrust syndicates, focusing on excess UK, international, and North American energy liabilities.

Butcher’s extensive background also includes his time as head of energy liability at AmTrust at Lloyd’s, where he re-engineered an existing marine and US liability book to focus on upstream, midstream, and renewable energy sectors.

His earlier roles also include senior positions at AXA Insurance Company, where he served as senior casualty underwriter, and Eagle Star, where he began his underwriting career.

John Hopper, head of energy at SiriusPoint, commented on the appointment, stating that Butcher’s extensive experience and expertise in the energy sector will significantly contribute to the strategic growth of SiriusPoint’s Energy business line.

Hopper expressed confidence in Butcher’s ability to make a strong impact within the team.

Earlier this month, SiriusPoint also released its financial results for the second quarter ending June 30.

The company reported net income available to common shareholders of $109.9 million, or $0.57 per diluted common share. Core income for the quarter amounted to $46 million, which includes underwriting income of $36.9 million, and the core combined ratio stood at 93.3%.

Core net services fee income was $9.7 million, with a service margin of 16.9%. Net investment income totaled $78.2 million, contributing to a total investment result of $23.3 million.

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