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Conyers advises Sirius International Insurance Group on its combination with ThirdPoint Reinsurance Ltd.

Conyers advised Sirius International Insurance Group (NASDAQ: SG) as part of its definitive agreement to combine in a cash and stock transaction with ThirdPoint Reinsurance Ltd. (NYSE: TPRE).

Expected to close in the first quarter of 2021 and subject to shareholder and regulatory approvals, the transaction will create a new Bermuda company to be renamed SiriusPoint Ltd. with approximately US$3.3 billion of tangible capital. Based on the closing price of Third Point Re stock on August 5, 2020, the transaction is valued at approximately US$788 million

Conyers’ Bermuda team was led by director, Chris Garrod, assisted by Associate, Jacqueline King, working alongside Sidley Austin LLP a legal advisors to Sirius Group , with Jenner & Block LLP separately representing the Strategic Review Committee of Sirius Group.

 


Chris Garrod
Director, Insurance and Technology

Bermuda   +1 441 299 4923


Jacqueline King
Associate

Bermuda   +1 441 279 5327


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