mergers & acquisitions

More of the executive leadership of SiriusPoint, the new international insurance and reinsurance firm that will be launched out of the coming together of Third Point Re and Sirius Group, has now been revealed by the company.

SiriusPoint, the new international insurance and reinsurance firm that will be launched out of the coming together of Third Point Re and Sirius Group, is planning for its retrocession program to be “sidecar-like”, the company said.

The previously announced acquisition of Ariel Re by private equity investors from its owner Argo Group has now been completed, putting the reinsurance company back on a private footing as a pure-play reinsurance underwriter and manager of third-party capital.

Ariel Re, a reinsurance unit of Argo Group, is to be acquired by private equity investors and former CEO Ryan Mather will return to run the company, with a focus on leveraging traditional and alternative capital, as well as a property catastrophe leaning.

SiriusPoint, the new Class of 2020 international insurance and reinsurance firm being launched out of the coming together of Third Point Re and Sirius Group, sees ILS as “an option to consider” in terms of its capital use, CEO Sid Sankaran told us in an interview.

Global insurance and reinsurance group SiriusPoint will be formed after Third Point Re and Sirius Group reached agreement to combine in a cash and stock transaction.

French insurance group Covéa and EXOR, the Agnelli family owned holding company investor, have struck an agreement to cooperate on reinsurance-linked investments going forward, finding a way to settle with each other over the failed PartnerRe sale.

The sale of global reinsurance company PartnerRe to French insurance group Covéa has been called off, after attempted renegotiations over the price with seller EXOR in the wake of the Covid-19 pandemic failed to find an agreement.

An agreement on the sale of PartnerRe has been reached between EXOR, the Agnelli family owned holding company investor, and French insurance group Covéa.

PartnerRe, the Bermuda headquartered reinsurance company, is the subject of exclusive talks regarding a potential $9 billion sale between its owner Exor and French insurance group Covéa.