SiriusPoint
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The company named former Third Point Re CEO and former global distribution president Daniel Malloy as interim CEO. -
The executive will be responsible for underwriting strategy for the London and international casualty book.
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Avinew, which launched in 2016, directly underwrites semi-autonomous and autonomous vehicle usage.
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The investment returns were driven by growth-oriented positions in the enterprise technology and financial services sectors at Third Point Enhanced Fund.
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In addition to Malloy’s departure, Mark Parkin notified the reinsurer of his intent to resign from the board of directors for personal reasons.
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The move will enable Players Health to make insurance and risk management more accessible to amateur sports organisations.
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The firm will leverage its partnership with DXC to build a fully digitalised managing agent, the co-CEO said.
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As part of the deal, all staff working for the managing agent will join Mosaic, while SiriusPoint will become a strategic investor in the carrier.
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Jason Robart previously founded Seae Ventures, a venture capital firm.
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The reinsurance unit's combined ratio plummeted to 91.2% from 129.4%, outweighing the increase in the insurance services combined ratio, which spiked to 98% from 55.5%.
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The deal makes SiriusPoint the lead underwriting capacity provider for Honeycomb.
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The business has attracted $110mn in its latest funding round and is valued at over $1.3bn.
