Peter Tan

About Peter W. H. Tan

Peter W. H. Tan (age 52) has served on the SiriusPoint Ltd. Board since February 2021 and is currently a Class I director with committee assignments on the Investment Committee and the Risk & Capital Management Committee . He is a lawyer by training (LL.B Honors, National University of Singapore) and admitted in England & Wales, Hong Kong, and Singapore; his background includes founding TGC Private Office and extensive investment and board experience across Asia and the Americas . As of the Board’s February 2025 independence review, Mr. Tan was not determined to be independent due to the recency of his resignation as Chairman of CMIG International (December 2023) and his prior representative status; CM Bermuda (an affiliate) held more than 10% of SPNT until February 27, 2025 when its ownership was fully exited .

Past Roles

External Roles

Board Governance

• Classification and tenure: Class I director; term expires at the 2026 AGM .
• Independence: Not independent as of Feb 2025 review due to prior CMIG International affiliation; CM Bermuda exited all ownership by Feb 27, 2025 (IRA terminated), which may reduce future conflict risk but he remained non-independent in 2025 .
• Committee assignments: Investment Committee member; Risk & Capital Management Committee member; no chair roles .
• Attendance: 100% attendance at Board and committee meetings in 2024; Board held 5 formal meetings (Bermuda and Canada), with committee meeting cadence detailed below .
• Committee activity levels (FY2024):
  • Investment Committee: 4 formal meetings; 2 unanimous written resolutions .
  • Risk & Capital Management Committee: 4 formal meetings .
• Trading policy and alignment: Directors prohibited from hedging or pledging SPNT securities; share ownership guidelines require directors to own ≥3x annual retainer value within 5 years (policy reference notes independent directors’ compliance trajectory) .

Fixed Compensation

Performance Compensation

Performance metric design (context): Independent directors’ annual equity is time-based; executive PSUs are tied to 3-year compounded net book value per share growth; STI is driven 70% by Core Combined Ratio and 30% by strategic objectives; not applicable to Mr. Tan as a director .

Other Directorships & Interlocks

Expertise & Qualifications

• Legal and regulatory: LL.B Honors; admitted as advocate & solicitor in England & Wales, Hong Kong, and Singapore .
• Investment and capital allocation: Founding of TGC Private Office; >40 investments in China with 12 listings; SIG China founding team .
• Board skills matrix: SPNT rates Mr. Tan as contributing across board skill areas including financial literacy, investment, risk management, (re)insurance, international business, corporate governance, digital strategy/IT, ESG/climate risks, shareholder engagement (board matrix shows broad coverage) .

Equity Ownership

Insider Trades

Governance Assessment

• Strengths

  • Full attendance and active committee engagement (Investment; Risk & Capital Management), supporting oversight of capital allocation and enterprise risk, including cybersecurity governance through the Risk & Capital Management Committee .
  • Broad skills coverage and significant investment/board experience across geographies and sectors; legal qualifications enhance governance rigor .
  • Company-wide governance practices (no hedging/pledging; director ownership guidelines; regular executive sessions) strengthen alignment and oversight environment .

• Risks and potential red flags

  • Independence: Not independent as of Feb 2025 due to recency of CMIG affiliation; while CM Bermuda fully exited ownership and the IRA was terminated in Feb 2025, independence designation remained impacted in the 2025 review, representing a historical conflict signal tied to a large prior shareholder .
  • Related-party exposure: The Company engaged in significant transactions with CM Bermuda in 2024–2025 (settlement/share repurchase and warrant/common share buybacks), which the Audit Committee oversees under the Related Person Transaction Policy; these transactions have now unwound CM Bermuda’s ownership and rights .
  • Director compensation alignment: As a non-independent director, Mr. Tan receives no director cash/equity compensation; alignment is primarily through beneficial ownership (18,596 shares), which is modest relative to the overall float .

• Implications

  • Post-CM Bermuda exit reduces structural conflict risk going forward; continued monitoring of independence status in future proxy cycles is warranted .
  • Mr. Tan’s presence on Investment and Risk committees is additive for oversight, but investors may prefer evolution toward full independence for committee members over time (noting SPNT’s independent-only composition on Audit, Compensation, and Governance & Nominating committees) .

Committee Responsibilities Context

Director Compensation Policy Context

Board/Committee Meeting Cadence (FY2024)

Note: SPNT holds Board/committee meetings outside the U.S. due to Bye-law constraints; 2024 meetings were held in Bermuda and Canada (virtual informational sessions supplemented governance) .