SIRIUSPOINT 'ASPIRES TO BE A DISRUPTIVE FORCE' AS MERGER COMPLETES

Third Point Re and Sirius International have completed their merger to become SiriusPoint, a Bermuda-based company with more than $3bn in initial capital. The company's chairman and chief executive Sid Sankaran said SiriusPoint aspires to be a “disruptive force in the industry and drive technology innovation, with skilled underwriting at the core of everything we do”. SiriusPoint’s operating companies are licensed to operate in Bermuda, North America, Sweden, UK, Belgium, Switzerland and Singapore. The group expects to post more than $2.5bn in annual gross written premiums, with around 35% arising from property lines, 34% from specialty and casualty, 24% from accident and health and 6% from run-off and other business. Around 78% of business will involve reinsurance and only 22% insurance.