Sirius International Insurance Group, Ltd., the Bermuda-based multi-line insurance and reinsurance group, announced its board of directors has elected Kernan (Kip) V. Oberting to succeed Allan L. Waters as chief executive officer of Sirius Group. Oberting will be succeeded as chief financial officer by Ralph A. Salamone.
Both appointments are effective on Feb. 9, 2019.
In addition, Meyer (Sandy) Frucher, the chair of the Nominating & Governance Committee of the board of directors of Sirius Group, was appointed as interim non-executive chairman. Waters steps down as director on Feb. 9, 2019, but will stay on thereafter to provide advisory services to Oberting and other senior executives of Sirius Group.
Prior to assuming the role of CEO of Sirius Group, Oberting, 49, has served as president of Sirius Group since September 2018 and chief financial officer of Sirius Group since April 2016. Oberting has also served as president of Sirius Capital Markets Inc. since April 2016. Prior to that, Oberting served as a senior partner of White Mountains Capital, Inc. from July 2012 until April 2016.
Prior to assuming the role of CFO of Sirius Group, Salamone, 52, served as the president and chief executive officer of Sirius Global Services LLC, a position he has held since 2010. Salamone also has served as the senior vice president, chief financial officer and treasurer at Sirius America Insurance Company since 2012.
Frucher, interim chair of the board of directors, and chair of the nominating & governance committee, of Sirius Group, stated: “On behalf of the board of directors, I want to thank Allan for his remarkable leadership as CEO. Allan has left a significant legacy and made lasting contributions to Sirius Group. Under his leadership, Sirius Group was publicly listed and diversified its shareholder base with four globally recognized investment firms as cornerstone investors. Today’s leadership announcement is part of a thoughtful succession plan culminating in Allan’s existing management team being appointed to continue to lead Sirius Group into the future.”
Source: Sirius International Insurance
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