On January 30, 2019, the board of directors of Sirius International Insurance Group, Ltd. approved a succession plan whereby Mr. Allan L. Waters, the company's Chief Executive Officer (“CEO”), will depart from the company, effective as of February 9, 2019. Also, Mr. Waters has resigned as a director effective February 9, 2019. The Board approved the replacement of Mr. Waters as Chairman of the Board by appointing Mr. Meyer (Sandy) Frucher, chair of the company's Nominating & Corporate Governance Committee, as interim Chairman of the Board, effective January 30, 2019.

As part of this succession plan, also on January 30, 2019, the Board appointed Mr. Oberting as CEO, effective as of the Departure Date. In connection with this appointment, Mr. Oberting resigned as Chief Financial Officer (“CFO”), and Ralph A. Salamone, the company's principal accounting officer, was appointed as CFO, both effective as of the Departure Date. Mr. Oberting, age 49, currently serves as President and Chief Financial Officer of Sirius Group and President, Sirius Capital Markets Inc. Mr. Oberting was appointed President of Sirius Group in September 2018 and Chief Financial Officer of Sirius Group in April 2016.

Prior to that, Mr. Oberting served as a Senior Partner of White Mountains Capital Inc. from July 2012 until April 2016. Mr. Oberting was appointed as the President of Sirius Capital Markets Inc. in January 2015. From 2008 to 2012, Mr. Oberting was the founder and Managing Member of Oakum Bay Capital (f/k/a KVO Capital Management).

From 2004 to 2008, Mr. Oberting served as Executive Vice President and Chief Financial Officer of Montpelier Re Holdings, Ltd. Mr. Oberting previously worked for White Mountains entities from 1995 to 2004 in various capacities. Prior to White Mountains, Mr. Oberting was a trader at CS First Boston (Japan) from 1993 to 1995. Mr. Salamone, age 52, currently serves as the President and Chief Executive Officer of Sirius Global Services LLC, a position he has held since 2010.

Ralph has also served as the Senior Vice President, Chief Financial Officer and Treasurer at Sirius America Insurance Company since 2012. Since joining Sirius Group in 1997, Mr. Salamone has been a key member of the Group's executive financial team. Prior to joining Sirius Group, Ralph served as the Assistant Controller at Assurant.

Ralph began his career in public accounting at PricewaterhouseCoopers, serving a variety of insurance clients as an audit manager.