Siddhartha Sankaran
About Siddhartha Sankaran
Independent director of Oscar Health since February 2021 (age 47). Currently Group Chief Financial Officer & Group Chief Operating Officer of FWD Group Holdings Limited; previously Oscar’s CFO (Mar 2019–Mar 2021), provided transitional services (Mar–Jun 2021), and served as Interim CFO (Dec 2022–Sep 2023). Earlier roles include Chairman & CEO of SiriusPoint Ltd. (Mar 2021–May 2022), Director and Chairman of Third Point Reinsurance Ltd. (Aug 2019–Feb 2021), EVP & CFO (2016–2018) and EVP & Chief Risk Officer (2010–2016) at AIG. Bachelor of Mathematics in actuarial science (with distinction), University of Waterloo.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Oscar Health, Inc. | Chief Financial Officer | Mar 2019 – Mar 2021 | Led finance during critical growth; remained for transitional services Mar–Jun 2021 |
| Oscar Health, Inc. | Interim Chief Financial Officer | Dec 2022 – Sep 2023 | Stabilized finance leadership during transition |
| SiriusPoint Ltd. | Chairman & Chief Executive Officer | Mar 2021 – May 2022 | Led global (re)insurer post-TP Re combination |
| Third Point Reinsurance Ltd. | Director; Chairman | Aug 2019 – Feb 2021 (Chair Aug 2020 – Feb 2021) | Board leadership of predecessor to SiriusPoint |
| American International Group (AIG) | EVP & Chief Financial Officer | Feb 2016 – Dec 2018 | Corporate finance leadership at global insurer |
| American International Group (AIG) | EVP & Chief Risk Officer | Nov 2010 – Feb 2016 | Enterprise risk oversight |
| Oliver Wyman | Partner | Prior to 2010 | Financial services/insurance advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| FWD Group Holdings Limited | Group CFO & Group COO | Sep 2023 – Present (Senior Advisor Jun–Sep 2023; joined as Group CFO Sep 2023) | Insurance group operator in Asia |
- Current public company directorships: None disclosed beyond Oscar Health. Prior public company board: Third Point Reinsurance Ltd. (Chairman) .
Board Governance
| Attribute | Status | Evidence |
|---|---|---|
| Independence | Independent director under NYSE rules | Board determined Sankaran is independent |
| Committee memberships (2024) | Not listed on Audit, Talent & Compensation, or Nominating & Corporate Governance | Committee rosters list members; Sankaran not included |
| Chair roles | None disclosed | Committee chairs are Wittman (Audit), Lang (T&C), Boyd (N&CG) |
| Board attendance (2024) | ≥75% of Board and committee meetings | Company states each director met ≥75%; Board met 4 times in 2024 |
| Board leadership | Independent Chair; Chair/CEO roles separated | Boyd is independent Chair; separation highlighted |
| Executive sessions | Regular non-management; at least annual independent-only | Described governance practice |
| Controlled company status | Yes (Thrive Capital/Joshua Kushner control ~71.5% voting power); committees currently fully independent | Controlled company but not relying on exemptions as of Jan 2025; voting control data |
Fixed Compensation (Director)
| Component | Amount (2024) | Amount (Effective Jan 1, 2025) | Vesting/Terms |
|---|---|---|---|
| Annual cash retainer | $70,000 | $70,000 | Paid quarterly in arrears |
| Board Chair retainer (cash) | $55,000 | $125,000 | — |
| Committee Chair retainer – Audit | $30,000 | $35,000 | — |
| Committee Chair retainer – Talent & Compensation | $20,000 | $32,500 | — |
| Committee Chair retainer – Nominating & Governance | $15,000 | $15,000 | — |
| Committee Member (non-chair) – Audit | $10,000 | $10,000 | — |
| Committee Member (non-chair) – Talent & Compensation | $7,500 | $7,500 | — |
| Committee Member (non-chair) – Nominating & Governance | $5,000 | $5,000 | — |
| Siddhartha Sankaran – 2024 director fees | $0 | — | No cash or stock awards for board service in 2024 |
Performance Compensation (Director)
| Equity Element | Grant Value | Vesting | CIC/Settlement |
|---|---|---|---|
| Annual RSU (2024) | ~$175,000 | Vests in full at earlier of 1 year or next annual meeting | Vests in full on change in control; settlement rules per plan |
| Annual RSU (Effective 2025) | ~$200,000 | Same as above | Awards granted on/after Dec 3, 2024 settle on earliest of 6 months after separation/death/disability or within 5 days post-CIC |
| Deferred comp elections | — | — | Directors may defer cash/RSU components (subject to Dec 2024 amendment) |
- For 2024, Sankaran received no equity awards for director service (consistent with zero director compensation) .
Other Directorships & Interlocks
| Company/Organization | Type | Role | Period | Notes |
|---|---|---|---|---|
| Third Point Reinsurance Ltd. | Public | Director; Chairman | Aug 2019 – Feb 2021 | Predecessor to SiriusPoint Ltd. |
| SiriusPoint Ltd. | Public | Chairman & CEO | Mar 2021 – May 2022 | (Re)insurance operator |
- No related-party transactions disclosed involving Sankaran. Related-party items disclosed relate to Sanford Health (+Oscar services/payments) and Thrive Capital (convertible notes), not involving Sankaran. Audit Committee reviewed those transactions; independence assessed (Gassen) .
Expertise & Qualifications
- Financial, accounting, capital markets; healthcare; risk management; business development/M&A; business operations; corporate governance; executive leadership; technology/digital, per Board skills matrix .
- Company’s biography emphasizes “extensive leadership and financial and risk-management experience” at global insurers (AIG, SiriusPoint) and as former Oscar CFO/Interim CFO .
- Education: B.Math (actuarial science), University of Waterloo (with distinction) .
Equity Ownership
| Holder/Instrument | Shares/Units | Notes |
|---|---|---|
| Total beneficial ownership (Class A basis) | 1,657,351 | <1% of Class A; includes direct/indirect holdings and exercisable options within 60 days |
| Victoria Family LLC (Class A) | 795,686 | Sankaran may share voting/investment control as Investment Adviser to The Victoria 2020 Trust that owns Victoria Family LLC |
| Stock options (Class A) exercisable within 60 days | 861,665 | Included in beneficial ownership |
| Director stock ownership guideline | 5x annual cash retainer | All non-employee directors have met or are in compliance with holding requirement |
| Hedging/pledging | Prohibited for directors | Anti-hedging and anti-pledging policy in place |
Governance Assessment
-
Strengths
- Independent status affirmed by Board; significant finance and risk oversight experience directly relevant to a regulated health insurer’s risk/compliance needs .
- Attendance threshold met (≥75%) in 2024; Board has independent Chair and regular executive sessions, supporting independent oversight .
- Meaningful beneficial ownership (direct/indirect and options) and director ownership guidelines/anti-hedging-pledging policies enhance alignment with shareholders .
- No related-party transactions disclosed involving Sankaran; Audit Committee oversight of RPTs described .
-
Watch items
- Not assigned to standing committees in 2024; while not inherently negative, it limits direct committee-level influence over audit, compensation, or nominating matters versus peers who chair/serve on committees .
- Controlled company structure persists (Thrive/J. Kushner ~71.5% voting power), though Board states committees are fully independent as of Jan 2025; investors often scrutinize board independence and minority shareholder protections in controlled structures .
Net view: Governance signals are generally constructive—independent status, relevant insurance finance/risk expertise, attendance, and ownership alignment—tempered by non-participation on key committees and a controlled company context that warrants ongoing monitoring of board autonomy and shareholder engagement .