SiriusPoint appoints Larry Hallett as SVP, Casualty Underwriting
SiriusPoint Ltd. (NYSE: SPNT) announced that Larry Hallett has joined as Senior Vice President of Casualty Underwriting. He brings 40 years of experience in the reinsurance market, focusing on casualty underwriting and strategic initiatives. Hallett will work under Warren Trace in New York. His previous roles include overseeing North American operations at RFIB Americas and consulting at 2 Wings Risk Services. David Govrin, Global Chief Underwriting Officer, expressed strong confidence in Hallett's expertise to enhance SiriusPoint's client offerings and market position.
- Larry Hallett's extensive experience in casualty underwriting may drive strategic growth.
- SiriusPoint enhances leadership with a seasoned professional in the insurance sector.
- Potential concerns regarding the continuity of service during the transition.
- Experience gaps in the new leadership role could affect operational performance.
HAMILTON, Bermuda, April 27, 2021 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), an international specialty insurer and reinsurer, has announced that Larry Hallett has joined the company as Senior Vice President (SVP) of Casualty Underwriting.
Reporting to Warren Trace, Head of US and Canada, Americas Reinsurance, Mr. Hallett will focus on casualty underwriting, including traditional and structured reinsurance, and on strategic initiatives involving casualty insurance. He will be based in the New York area.
With 40 years’ experience in the North American reinsurance and insurance markets, Mr. Hallett has vast experience in casualty treaty reinsurance, alternative risk management, captives, runoff and fronting arrangements. He joins the company from RFIB Americas where he oversaw business development and servicing intermediary operations for the North American operations of the brokerage.
Prior to RFIB, Mr. Hallett was Managing Director of 2 Wings Risk Services, where he was a reinsurance consultant and intermediary specializing in alternative risk entities.
David Govrin, Global Chief Underwriting Office and President, Americas Reinsurance, said: “We are delighted that Larry is joining SiriusPoint. He is widely respected in the property casualty reinsurance industry, building, executing, and managing portfolios of insurance risk. His experience will be a valuable asset as we continue to respond to our client and industry needs with creative and innovative solutions, building our profile as SiriusPoint.”
Mr. Hallett started his career at the Constitution Reinsurance Corporation in New York, before joining Western Atlantic Reinsurance Corp and subsequently, Swiss Re. In 2000, he assumed a leadership role at XL Financial Solutions in Stamford as Senior Managing Director for the structured indemnity team.
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
SiriusPoint Contacts
Investor Relations
Clare Kerrigan, SiriusPoint
clare.kerrigan@siriuspt.com
+44 7970695959
Media
Sarah Hills, Rein4ce
sarah.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 respond to SiriusPoint’s client and industry needs with creative and innovative solutions and to build SiriusPoint’s profile. 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.
FAQ
Who is Larry Hallett and what is his role at SiriusPoint Ltd. (SPNT)?
What experience does Larry Hallett bring to SiriusPoint (SPNT)?
What is the significance of Larry Hallett's appointment at SiriusPoint (SPNT)?
Who does Larry Hallett report to at SiriusPoint (SPNT)?
