Aug 2020
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.