Third Point Reinsurance Ltd has announced that David Junius has been appointed chief operating officer effective from tomorrow. Upon the company’s anticipated closing of its merger transaction with Sirius International Insurance Group Ltd. Mr Junius will be appointed chief financial officer of the Company, to be renamed SiriusPoint Ltd.

Sid Sankaran, chairman of Bermudian-based Third Point Re, said: “We are very excited to have David join our team as we create a leading global reinsurer through our merger with Sirius. Upon closing, SiriusPoint will have the capital, platform, underwriting talent and clients to take advantage of improving market conditions. Having worked with David for many years, I know he will be instrumental in our efforts to improve SiriusPoint’s profitability and return on equity which will ultimately generate value for our shareholders.”

Mr Junius said: “I am thrilled to join Third Point Re given the opportunity presented by a combined SiriusPoint. 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.”

He brings more than 23 years of industry experience to his new role having most recently served as the chief financial officer for the international division of the general insurance segment at American International Group. He previously served as AIG’s corporate treasurer, CFO for the AIG Property and Casualty Asia Pacific operations and managing director of AIG Strategic Planning.

Christopher Coleman, the current chief financial officer of the company, will continue in his role through the closing of the merger to assure a smooth and efficient transition of his duties. It is the company’s intention that Mr Coleman will continue to serve in a mutually agreed senior position at SiriusPoint following the closing of the merger.

Mr Sankaran said: “I am also very pleased that Chris will remain with the company. Chris has been a tremendous partner as we transform Third Point Re into a global specialty reinsurer with the goal of delivering more consistent returns and profitability. Our merger with Sirius will accelerate our progress and I look forward to working with Chris as we continue our journey.”