Third Point Reinsurance Ltd., backed by U.S. hedge-fund manager Daniel Loeb, announces a merger with Sirius International Insurance Group Ltd.
SiriusPoint to be a Top-Tier Global Specialty (Re)Insurer Well-Positioned to Capitalize on Short and Long-Term Market Opportunities
Transaction Expected to be Accretive in First Year After Close
Experienced Insurance Executive Sid Sankaran to be Named SiriusPoint’s Chairman and CEO
New Strategic Investment Portfolio Partnership with Third Point LLC
HAMILTON, Bermuda, Aug. 6, 2020 /PRNewswire/ — Third Point Reinsurance Ltd. (NYSE: TPRE) (“Third Point Re”), a specialty reinsurer, and Sirius International Insurance Group, Ltd. (Nasdaq: SG) (“Sirius Group”), a global multi-line insurer and reinsurer, today announced they have entered into a definitive agreement for Third Point Re and Sirius Group to combine in a cash and stock transaction.