SiriusPoint has appointed Sabra Purtill (pictured above) to its board of directors, adding a 40-year insurance and financial services veteran as the specialty reinsurance underwriter completes a multi-year turnaround that has reshaped its leadership, balance sheet, and board composition.
Franklin (Tad) Montross IV and Peter Tan will step down from the board following SiriusPoint's annual general meeting on May 20.
"SiriusPoint is at an important stage in its evolution, with a clear focus on discipline, resilience and long-term value," Purtill said, adding that she looks forward to helping guide the business through its next phase.
The appointment comes as SiriusPoint caps one of the more dramatic recoveries in recent reinsurance history. Formed through the 2021 merger of Third Point Reinsurance and Sirius International Insurance Group, the company posted a net loss of roughly US$400 million in 2022 amid underwriting volatility and significant investment losses.
CEO Sid Sankaran departed that May, and Scott Egan, formerly of RSA UK & International, was brought in as permanent CEO months later.
The recovery since has been swift. SiriusPoint reported net income of US$444 million for 2025, with return on equity reaching 22.1% and gross written premiums rising 16% to US$3.7 billion. Operating earnings per share climbed 49% year over year to US$2.55.
Fitch upgraded SiriusPoint's operating subsidiaries to 'A' from 'A-' in February, following a 31% increase in available capital. The rating agency noted a shift in business mix, with insurance and services accounting for 59% of core net premiums written in 2025, up from 37% in 2021.
Purtill's arrival and the departures of Montross and Tan will leave SiriusPoint's board with one fewer seat. The company's 2025 proxy statement listed 10 directors, one of whom was already not standing for re-election, suggesting the board will number eight after the May meeting.
The departures also create a governance question. Montross currently chairs the risk and capital management committee and sits on the audit and compensation committees; Tan serves on the investment and risk and capital management committees. SiriusPoint has not indicated whether Purtill or another director will assume those roles.
Bronek Masojada, SiriusPoint's board chair, said Purtill's "significant financial and insurance experience" shaped across four decades would "support the board's oversight, governance and long-term strategic direction on behalf of our shareholders." He thanked Montross and Tan for their contributions over the past five years.
The changes follow a broader structural reorganization announced earlier this month, in which SiriusPoint consolidated its insurance and reinsurance operations into four global business areas.
