Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment


                 of Certain Officers; Compensatory Arrangements of Certain Officers.


Effective as of January 20, 2021, Third Point Reinsurance Ltd. (the "Company")
and Christopher S. Coleman, the Company's Chief Financial Officer, have entered
into a Separation Agreement and Release (the "Separation Agreement"). The
Company and Mr. Coleman entered into the Separation Agreement in connection with
the expected appointment of David W. Junius, currently the Company's Chief
Operating Officer, as Chief Financial Officer of the Company not later than the
closing of the merger transaction (the "Merger") contemplated by the Agreement
and Plan of Merger, dated as of August 6, 2020, by and among the Company, Sirius
International Insurance Group Ltd. and Yoga Merger Sub Limited. The expected
appointment of Mr. Junius was reported in the Company's Current Report on Form
8-K filed on September 29, 2020.
Pursuant to the terms of the Separation Agreement, the Company and Mr. Coleman
have mutually agreed that, not later than the date of the closing of the Merger
(the "Closing Date") Mr. Coleman's employment as Chief Financial Officer will
end and Mr. Coleman will commence employment on a transitional basis as the
interim Chief Accounting Officer of the Company. In his capacity as interim
Chief Accounting Officer, Mr. Coleman will assist the Company with financial
reporting matters through the filing of the Company's Quarterly Report on Form
10-Q for the three months ended March 31, 2021, which is currently expected to
be filed in early May, 2021. Mr. Coleman's employment with the Company will end
as of close of business on the first business day following the filing of such
Quarterly Report (the "Termination Date", and the period from the Closing Date
through the Termination Date, the "Transition Period"). During the Transition
Period, Mr. Coleman will be paid the same compensation and receive the same
employee benefits as he receives as Chief Financial Officer, as set forth in his
employment agreement with the Company, dated as of November 10, 2014 (the
"Employment Agreement"), a copy of which is publicly available.
In connection with the occurrence of the Termination Date, the Separation
Agreement provides that Mr. Coleman will receive the severance payments and
benefits provided in his Employment Agreement, consisting of (x) $910,000, which
is equal to three months of notice pay (to be paid in a lump sum) and 18 months
of base salary (to be paid in monthly installments); (y) a pro rata bonus for
2021 based on Mr. Coleman's period of service in 2021; and (z) 18 months of
continued medical benefits at active-employee rates. In addition, the Company
and Mr. Coleman have agreed that (x) at the Termination Date, any outstanding
and unvested time-based restricted shares held by Mr. Coleman will vest, and (y)
certain outstanding and unvested performance-based restricted shares granted to
Mr. Coleman will vest at target levels of performance and without proration. The
foregoing severance payments and benefits, including the accelerated vesting of
the equity awards, are conditioned on Mr. Coleman's entry into a customary
release of claims and compliance with covenants related to confidentiality,
nondisparagement and nonsolicitation.
The foregoing description of the Separation Agreement does not purport to be
complete and is subject to, and qualified in its entirety by, the full text of
the Separation Agreement, a copy of which will be filed as an exhibit to the
Company's Quarterly Report on Form 10-Q for the three months ended March 31,
2021, and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits

      Exhibit
        No.                  Description

        101                  Pursuant to Rule 406 of Regulation S-T, the cover page information in
                             formatted in Inline XBRL
        104                  Cover Page Interactive Data File (embedded within the Inline XBRL
                             document and included in Exhibit 101)

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