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Conyers represents Sirius Group in US$788 million combination with Third Point Re

Conyers has 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 $3.3 billion of tangible capital.  Based on the closing price of Third Point Re stock on 5 August, 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 as 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
Director

Bermuda   +1 441 279 5327


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