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SiriusPoint
SiriusPoint is a Bermuda-based specialty re/insurer formed in 2021 from the merger of Third Point Re and Sirius Group, led by CEO Scott Egan.
SiriusPoint
SiriusPoint was formed in February 2021 when Third Point Reinsurance completed its merger with Sirius International Insurance Group, creating a global specialty insurer and reinsurer domiciled in Bermuda. CEO Scott Egan took the helm in 2023 after the abrupt departure of predecessor Dan Malloy, inheriting a company still integrating two distinct underwriting cultures and investment philosophies. The firm's lineage traces back to Dan Loeb's Third Point Re, founded in 2012 as a reinsurance vehicle designed to generate float that Loeb's hedge fund could invest — a structure that embedded hedge-fund alpha ambitions inside an insurance chassis. Today SiriusPoint writes specialty insurance and reinsurance lines including property catastrophe, accident and health, marine, and credit, with underwriting hubs in Bermuda, North America, London, and Stockholm. The investment side of the house runs a diversified asset base that includes allocations to Third Point LLC as the anchor strategic partner, alongside a broader blend of institutional managers and credit exposures. The firm has steadily reduced its concentration to Third Point's fund — from roughly $820 million in 2021 down to a disclosed $350 million as of late 2023 (per the firm's official communications, 2023) — while rotating into fixed-income instruments to match liabilities more conservatively. Beyond its headquarters in Pembroke, Bermuda, SiriusPoint maintains offices in New York, London, Stockholm, Toronto, and Liège, reflecting a transatlantic operating footprint. The firm exited 2023 with a turnaround-driven emphasis on underwriting profitability after two years of reserve strengthening and a strategic pivot under Egan to simplify the business and reduce volatility. In early 2025, SiriusPoint announced it would repurchase up to $100 million in common shares, signaling confidence in capital adequacy and book-value accretion following its operational restructuring. What distinguishes SiriusPoint from most publicly traded insurers is its deliberate pairing of underwriting discipline with outward-facing investment management. The company does not simply manage a general account filled with munis and corporates; it maintains a strategic partnership with Third Point LLC while simultaneously building a multi-manager platform. The governance separating the underwriting committee from the investment-allocation function ensures that float generation remains the primary driver, a structural choice that reduces the risk of the tail wagging the dog — a lesson the market priced in during the volatile early years of the Third Point Re experiment.
General information
Firm type
Asset Manager
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
Bermuda
City
Pembroke
Corporate office
Pembroke, Bermuda
Additional offices
New York, United States · London, United Kingdom · Stockholm, Sweden · Toronto, Canada · Liege, Belgium
Principals
Scott Egan
Chief Executive Officer
Jim McKinney
Chief Financial Officer
Monica Cramér Manhem
President, International Reinsurance
Sector focus
Frequently asked questions
Who runs investment decisions at SiriusPoint?
Scott Egan oversees the company as CEO, while the investment portfolio is managed through a combination of strategic partnerships and an internal investment team. The firm has an explicit strategic relationship with Dan Loeb's Third Point LLC as its anchor investment partner, though SiriusPoint has been reducing its allocation to Third Point over time and diversifying into other managers and credit instruments.
How is SiriusPoint's investment portfolio structured differently from a typical insurer's general account?
SiriusPoint blends traditional fixed-income matching assets with an outward-facing multi-manager platform centered on a strategic alliance with Third Point LLC. This hybrid structure — born from the original Third Point Re model — means the investment side operates more like an allocator with hedge-fund exposure than a conservative general account. The firm has steadily de-risked by trimming Third Point concentration and rotating into credit, a deliberate post-merger redesign under CEO Scott Egan.
Is SiriusPoint a pure insurer or does it function like a hedge fund?
SiriusPoint is a publicly traded specialty insurer and reinsurer that carries a meaningful hedge-fund allocation as legacy architecture from its Third Point Re origins. It is not a hedge fund: underwriting specialty risks is the primary business, and the company reports GAAP insurance financials. However, until recently, its combined ratio and investment results were both heavily influenced by performance at Third Point LLC, a link management has been actively unwinding.
What caused the leadership changes at SiriusPoint since the merger?
The 2021 merger of Third Point Re and Sirius Group created integration complexity that led to underwriting volatility, reserve charges, and two CEO transitions. Dan Malloy exited in 2023 after roughly 18 months, and Scott Egan — formerly CEO of RSA Insurance's UK operations — was brought in to stabilize the platform, reduce investment-portfolio concentration, and return the company to underwriting profitability.
Does SiriusPoint still invest exclusively with Third Point?
No. While Third Point LLC remains the firm's anchor strategic investment partner, SiriusPoint has materially diversified its asset base. The allocation to Third Point was reduced from approximately $820 million in 2021 to $350 million by late 2023, with the balance reallocated into fixed income, credit, and other institutional managers to better match liability duration and reduce earnings volatility.
What is SiriusPoint's posture on co-investments or third-party capital management?
SiriusPoint does not market itself as a third-party asset manager or co-investment platform for external limited partners. The investment portfolio exists primarily to generate returns on float derived from its own underwriting operations. The strategic partnership with Third Point LLC is bilateral, not a capital-raising conduit for outside investors.
Which regulatory regime governs SiriusPoint's insurance operations?
SiriusPoint is domiciled in Bermuda and regulated by the Bermuda Monetary Authority, while its operating subsidiaries are regulated in their respective jurisdictions, including the New York Department of Financial Services, the UK's Prudential Regulation Authority and Financial Conduct Authority, and Sweden's Finansinspektionen, reflecting its transatlantic underwriting footprint.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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