April 2018 | Hamilton, Bermuda
Richard Harris joins the SunPoint Holdings Limited Board of Directors
We are pleased to welcome Richard J Harris to the board of SunPoint Holdings Limited effective April 1st 2018.
With close to 30 years of experience, Richard served as CFO of Enstar Group Limited from 2003 to 2015 and spent 10 years at Riverstone Holdings Limited where he was CEO until 2003.
Karl Wall, CEO of SunPoint Holdings Limited commented, “We are excited to have someone of Richard’s caliber on the board and look forward to working with him to grow the SunPoint platform.”
Richard commented that he is looking forward to working with Karl again as well as joining his team with their wealth of experience in the legacy business.
SunPoint is part of Fosun and specializes in providing legacy solutions to the insurance and reinsurance industry.
On October 1, 2017, SunPoint Re entered into a definitive agreement with a large international insurer to assume approximately $200M of legacy casualty reserves via a Loss Portfolio Agreement.
Fosun Has Backed Karl Wall to Establish a New Non-Life Run-Off Platform
Fosun International has backed Karl Wall and his core team to establish SunPoint Reinsurance Limited (SunPoint), an international run-off reinsurance company. SunPoint will acquire long-tail property and casualty insurance risks throughout the world. SunPoint combines the financial strength and vision of Fosun, a publicly traded company on the Hong Kong Stock Exchange with worldwide insurance operations, with the leadership and success of industry veterans in Karl’s team who have successfully completed more than 50 insurance run-off and risk mitigation transactions over the last 3 decades.
March 2017SunPoint entered into an agreement with ProSight Specialty Insurance Holdings, Inc. to administer its legacy asbestos and environmental liabilities. The business was originally written by the NYMAGIC, Inc., which was acquired by ProSight in November 2010.