SiriusPoint
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Howden Tiger is advising the Bermudian as it seeks to realize value from its portfolio and simplify its story for investors. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Loeb revealed his intention to take SiriusPoint private last month, saying that it would better position the company to execute its turnaround strategy.
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Bermudian carrier SiriusPoint’s equity stake in D&O MGA Banyan Risk has been reduced to 49% from 100%, filings show.
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While SiriusPoint CEO Scott Egan said the committee of independent directors will examine any acquisition proposals, he added that there’s “no assurance” any deal will be executed.
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Following the departure of Gretchen Hayes and the appointment of Masojada, SiriusPoint board will consist of nine directors, six of whom are independent.
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The Bermudian disclosed that its board has established a special committee of independent directors to review any acquisition proposal by Dan Loeb.
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The affirmation follows an SEC filing by activist investor and Third Point Re founder Dan Loeb last week, in which he disclosed intentions to take the company private.
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Inside P&C’s news team runs you through the key highlights of the week.
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The billionaire’s mooted take-private will hinder CEO Egan’s efforts to steady the ship.
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Shares, which have long underperformed, were trading up 13% following the regulatory announcement.
