SiriusPoint
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Third Point Re also confirmed Tim Mardon as global property head and named Rachael Dugan as general counsel. -
The executive will join the reinsurer ahead of the close of its merger with Sirius International later this month.
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The company expects reinsurance to provide 78% of its $2.5bn gross written premium target.
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Coleman will act as interim chief accounting officer until May 2021.
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The structure simplifies access to Sirius E&S capacity for brokers.
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Sirius shareholders favour the deal but dissent on compensation proposal.
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Across the P&C market, share prices outstripped the 1.16% uptick in the S&P 500 index and the 2.28% rise in S&P 500 financials.
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Loeb will lose rights including the ability to veto important company decisions and to select a board observer.
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The hedge fund reinsurer offered to merge with Sirius in May 2018, before the company’s listing on the Nasdaq exchange.
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The work finalises a restructure spearheaded by former Travelers executive Beth Boucher.
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Junius joins October 1 as COO, becoming CFO of SiriusPoint at the transaction’s close.
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The move follows Third Point’s $788mn takeover agreement for the (re)insurer.
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