Former CEO of reinsurer made redundant following merger

“The settlement agreement provides that Mr Malloy’s employment with the company ended by mutual agreement on April 01, 2022,” noted the Pembroke-based firm, which also agreed that Malloy shall be permitted to reside in his leased apartment in Bermuda until the end of the month, with SiriusPoint continuing to pay the monthly fee.

“In addition, the settlement agreement generally provides for severance benefits consistent with the terms of his pre-existing employment agreement, including (i) an aggregate of US$1,275,000, representing 18 months of Mr Malloy’s current base salary, which shall be paid in 18 equal instalments following the termination date, (ii)

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