SiriusPoint Ltd., a global specialty insurer and reinsurer, has announced the appointment of former Hiscox CEO Bronek Masojada as Chair of the Company’s Board of Directors, effective immediately.
Masojada joined the board on May 2 of this year. He is an insurance market veteran with over 30 years of industry leadership experience.
Sharon Ludlow, who joined the board in February 2021, has been interim Chair since May 2022, and will continue to serve as a Non-Executive Director. Ludlow also remains Chair of SiriusPoint’s Audit Committee.
Masojada commented on his appointment, “It is an honor to take on the role of Chair at this important stage in SiriusPoint’s development. The Company has strong foundations, an established platform, and an experienced executive leadership team focused on driving performance and delivering results.
“On behalf of the board and management team, I extend the Company’s thanks to Sharon Ludlow. As interim Chair, Sharon guided the board through a challenging transitional year, led the appointment of a CEO specializing in change and growth, and positioned SiriusPoint for future success. I look forward to continuing to work with Scott and his executive team, and Sharon and our fellow directors, to ensure that performance, stakeholder focus, and value creation remain central to the Company.
SiriusPoint recently reported Q1 2023 results, recording an 80.5% Combined ratio for its Core operations. The company’s Net Income stands at $358m annually.
Previously, Masojada was with global specialist insurer and reinsurer Hiscox for nearly 30 years, retiring as Chief Executive of Hiscox Ltd in 2021. He joined Hiscox in 1993 as Group Managing Director and was appointed Chief Executive in 2000. During his time at Hiscox, it grew revenues from $500 million to nearly $5 billion, from one office in London to 34 worldwide and from 200 staff to over 3,000.
Prior to Hiscox, Masojada began his career at McKinsey & Company. Currently, he serves as Chair of Placing Platform Limited, the industry utility driving the digitization of the London Insurance Market.
Sharon Ludlow said, “It is an honor to serve as interim Chair of the SiriusPoint Board. Bronek and Scott have valuable and complementary leadership experience in building businesses and teams, and driving strong performance and culture. Looking forward I will continue to work with them, my fellow directors, and the executive management team, to support SiriusPoint as the Company enters its next phase of development and growth.