Scott Egan
About Scott Egan
Scott Egan, age 53, has served as Chief Executive Officer and Director of SiriusPoint Ltd. (SPNT) since September 2022; he previously led RSA UK & International (CEO, 2019–2021) and served on the RSA Insurance Group PLC board (2015–2022), with senior roles at Aviva, Zurich, Brit Insurance, and Towergate Broking. He also chairs Premium Credit Group (UK) since November 2022 . Under Egan’s tenure, SPNT has delivered strong profitability and growth: Q3 2025 operating ROE of 17.9% and YTD 2025 operating ROE of 16.1% versus a 12–15% target, Core combined ratio ~89% in Q3 2025, and 26% YoY Core GWP growth in Q3 2025; book value per diluted common share ex-AOCI rose to $16.47 and management expects disposals (ArmadaCare and Arcadian) to add ~$1.75 per share to book value when closed .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| RSA Insurance Group PLC | Board Director; CFO then CEO UK & International | 2015–2022 (board); CEO 2019–2021 | Led UK & International segment; extensive risk and financial management experience . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Premium Credit Group (UK private company) | Chairman | Since Nov 2022 | Governance oversight of a UK credit services company . |
Fixed Compensation
| Metric | FY 2024 | Notes |
|---|---|---|
| Base Salary (USD) | $1,144,000 | Paid in Bermudian dollars, at par to USD . |
| All Other Compensation (Total) | $1,923,597 | Includes items below . |
| Company Retirement Contributions | $135,960 | 13% of base salary allowance . |
| Housing Allowance | $312,000 | Per employment agreement . |
| Tax Reimbursements | $1,301,276 | Bermuda payroll taxes; foreign tax gross-ups for non-Bermuda workdays . |
| Other (Travel, Communications, Tax Assistance, Insurance, Spousal Travel) | $174,361 | Travel fees $19,082; internet/phone $3,594; tax assistance $13,404; insurance $58,279; spousal travel $80,000 . |
Performance Compensation
| Component | Design | Egan’s FY2024 Target/Grant | Vesting/Metric |
|---|---|---|---|
| Annual Cash Incentive (STI) | Performance-based cash | Threshold $560,560; Target $1,601,600; Max $2,722,720 | Based on annual Company/individual goals . |
| Long-Term Incentive Mix | PSUs 75% / RSUs 25% | LTI mix approved Feb 2025 consistent with 2024 | PSUs factor: 3-year tangible NBVPS; RSUs time-based . |
| 2024 PSUs (at target) | Shares and grant date fair value | 242,373 PSUs; $2,910,900 grant-date fair value (4/29/2024) | 3-year performance on tangible NBVPS; maximum PSU grant-date value $6,792,099 if at max performance . |
| 2024 RSUs | Shares and grant date fair value | 80,791 RSUs; $970,300 grant-date fair value (4/29/2024) | Equal annual installments over 3 years; final tranche April 2027 subject to service . |
| 2024 Total LTI Grant Value | Dollar value | $4,004,002 | As approved; split per mix . |
Equity Ownership & Alignment
- 2024 grants: 242,373 PSUs and 80,791 RSUs (target), supporting pay-for-performance via tangible NBVPS and multi-year vesting; RSUs ratably vest over 3 years, final vesting in April 2027 .
- Death/Disability: acceleration/lapse of restrictions on unvested equity valued at $7,226,513 as of 12/31/2024 at $16.39/share .
- No additional beneficial ownership or pledging/hedging disclosures were retrieved in the cited sections.
Employment Terms
| Term | Key Provision |
|---|---|
| Employment Agreement (May 17, 2023) | For “Qualifying Terminations” (without Cause or for Good Reason): pro-rated annual bonus; cash severance equal to 18 months base salary (Egan); medical/life insurance continuation for 18 months . |
| Restrictive Covenants | Confidentiality (perpetual); non-disparagement; non-compete 6 months; employee/customer non-solicitation 12 months post-employment . |
| Notice Requirement | Six months’ advance written notice for terminations other than Cause/Good Reason; Company may pay in lieu of notice . |
| Change-in-Control (Double Trigger) | Cash severance $4,139,221; equity acceleration $14,732,397; welfare benefits $87,763; aggregate $18,959,381 (values based on $16.39/share at 12/31/2024) . |
| Qualifying Termination (No CIC) | Cash severance $4,139,221; equity acceleration $1,662,274; welfare benefits $87,763; aggregate $5,889,258 (based on $16.39/share) . |
| Currency | Paid in Bermudian dollars at USD parity . |
Board Governance
- Egan is CEO and a Director of SPNT; the DEF 14A lists him among executive officers with his biography and notes “Chief Executive Officer & Director” .
- Committee assignments and Board meeting attendance were not included in the retrieved sections; prior board service includes RSA Insurance Group PLC (2015–2022) .
Performance & Track Record
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Core Gross Premiums Written ($m) | $690.5 | $871.6 |
| Core Combined Ratio (%) | 88.5% | 89.1% |
| Operating Diluted EPS ($) | $0.51 | $0.72 |
| Operating ROE (Annualized, %) | 15.0% | 17.9% |
| Metric | 9M 2024 | 9M 2025 |
|---|---|---|
| Core Underwriting Income ($m) | $143.7 | $165.7 |
| Catastrophe Losses ($m) | $16.2 | $67.4 (mainly California wildfires) |
| Operating Net Income ($m) | $260.1 | $224.3 |
| Operating ROE (Annualized, %) | 14.5% | 16.1% |
| Book Value per Diluted Common Share ex-AOCI ($) | $14.64 (12/31/2024) | $16.47 (9/30/2025) |
Highlights:
- Management cites two MGA disposals (ArmadaCare $250m; Arcadian $139m) expected to add ~$1.75/share to book value when closed; S&P Global Ratings revised SPNT’s outlook to Positive in October 2025 .
- Q3 2025 growth led by Insurance & Services (A&H, Surety; London MGAs) with minimal catastrophe losses; 26% YoY GWP growth in Core .
Investment Implications
- Pay-for-performance alignment: 75% PSUs tied to three-year tangible NBVPS and 25% RSUs establish clear linkage to book value growth and multi-year execution; Q3/YTD 2025 operating ROE above target suggests alignment between incentive metrics and outcomes .
- Retention and change-of-control: Strong severance protection (18 months salary, pro-rated bonus, benefits) and significant CoC equity acceleration ($14.7m) reduce near-term retention risk but can amplify event-driven payout sensitivity; non-compete/non-solicit covenants (6/12 months) offer post-exit protection .
- Vesting/selling pressure: RSUs vest annually through April 2027, with PSUs contingent on NBVPS performance; death/disability/CIC acceleration provisions could concentrate vesting in scenarios, increasing potential supply if awards settle into shares .
- Execution risk: Elevated catastrophe losses in 9M 2025 (California wildfires) underscore volatility in Reinsurance, partly offset by favorable prior-year reserve development; continued mix shift to A&H and services improves margin resilience .
Board service and governance: Egan’s dual role (CEO & Director) is disclosed; committee roles were not retrieved in the cited sections. Prior governance experience includes RSA PLC board service; he chairs Premium Credit Group, adding external oversight credentials .