On March 16, 2026, SiriusPoint Ltd. filed a Current Report on Form 8-K detailing the departure of Mr. Rob Gibbs, the President and Chief Executive Officer of SiriusPoint International Insurance Corporation. This announcement comes as part of a broader restructuring within the company. Following his departure, a Settlement Agreement was reached on March 17, 2026, which outlines the terms of Mr. Gibbs' exit from the company. Under the terms of the Settlement Agreement, Mr. Gibbs will receive a severance payment totaling 401,700 GBP. This payment is subject to applicable income tax withholdings and includes compensation for his six-month notice period, any pro-rated annual bonus entitlement for 2026, and contractual severance pay. The severance will be paid in 12 equal monthly installments starting after his last day of employment on April 30, 2026. Notably, Mr. Gibbs will not be entitled to a bonus for the year 2025. The company has committed to transferring the benefit of its private medical insurance to Mr. Gibbs, ensuring coverage continues through April 30, 2027, and will cover the associated monthly premiums. Additionally, life assurance coverage will be maintained until December 31, 2026, with a payment of 3,000 GBP in lieu of life assurance for the period from January 1 through April 30, 2027. Outstanding equity awards held by Mr. Gibbs will be treated according to the applicable award agreements, with certain modifications as specified in the Settlement Agreement. Mr. Gibbs will remain bound by confidentiality, non-disparagement, non-compete, and non-solicitation obligations post-employment. The Settlement Agreement also includes a general release of claims by Mr. Gibbs, contingent upon his execution and non-revocation of such release. This leadership change, while significant, is expected to have a small negative impact on the company's stock price due to the uncertainty surrounding the transition and the potential for operational disruption.

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