30 September 2020Life

Third Point Re appoints David Junius as chief operating officer

Third Point Reinsurance has appointed David Junius as chief operating officer.

Junius will take up his post on October 1, 2020. Once the merger between Third Point and Sirius International Insurance Group is complete, he will be appointed chief financial officer of SiriusPoint, the merged entity.

Junius has more than 23 years of industry experience and most recently served as the chief financial officer for the international division of the general insurance segment at American International Group (AIG). He previously served as AIG's corporate treasurer and CFO for the AIG property and casualty Asia Pacific operations. He was also managing director of AIG strategic planning.

Christopher Coleman, Third Point Re’s current CFO, will continue in his role through the closing of the merger to assure a smooth and efficient transition. Coleman is expected to remain at SiriusPoint in a mutually agreed senior position following the closing of the merger.

Junius said: “While much has been said about the improving market environment in which we are very well positioned, I also see a clear path to improve our operations and underwriting profitability while managing capital prudently, areas where I have had strong success during my career.  By bringing a renewed focus on technology, we can position the company to efficiently service our customers and manage risk to enhance SiriusPoint's earnings and grow book value."

Sid Sankaran, chairman of Third Point Re, said: "Upon closing, SiriusPoint will have the capital, platform, underwriting talent and clients to take advantage of improving market conditions.”

Sankaran stressed his happiness that Coleman will remain at SiriusPoint, predicting he will be “a tremendous partner as we transform Third Point Re into a global specialty reinsurer with the goal of delivering more consistent returns and profitability.”