Mar 2025
Conyers advised SiriusPoint Ltd. (“SiriusPoint”) in connection with the secondary offering of 4,106,631 common shares, with a par value of US$0.10 per share by certain selling shareholders. The offering also included the repurchase of 500,000 common shares by SiriusPoint at the public offering price, pursuant to an effective registration statement and prospectus filed with the U.S. Securities and Exchange Commission on 16 December 2024, with Jefferies acting as the sole bookrunning manager.
Conyers also advised SiriusPoint in connection with an agreement to repurchase all of SiriusPoint’s common shares and warrants held by CM Bermuda Limited for an aggregate purchase price of US$733 million. Following the closing of the repurchase transaction, CM Bermuda will have no remaining ownership interest in SiriusPoint and will cease to have any representation on, or observer rights with respect to, the SiriusPoint’s board of directors.
SiriusPoint is a NYSE listed global underwriter of insurance and reinsurance solutions headquartered in Bermuda with offices worldwide. With over US$2.6 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A-(Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s.
Director Chiara Nannini and Senior Associate Jessica Harris from Conyers’ Bermuda office advised on the above matters, working alongside Skadden, Arps, Slate, Meagher & Flom LLP.