Skip to main content

SiriusPoint Acknowledges Indication of Interest from Third Point

Written by Customer Service on . Posted in Mergers And Acquisitions.

HAMILTON, Bermuda, April 12, 2023 (GLOBE NEWSWIRE) — Today SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT) has acknowledged an indication of interest from Third Point LLC and certain of its affiliates (“Third Point”), disclosed in a Schedule 13D/A filing earlier today, to explore a potential acquisition of all, or substantially all, of the outstanding Common Shares of the Company.      

Consistent with its fiduciary duties, in consultation with its financial and legal advisors, the SiriusPoint Board of Directors will carefully evaluate any proposal to acquire the Company, if and when a proposal is received.

The Company always welcomes dialogue with its investors and shares the common goal of maximizing value for all the Company’s shareholders. The Company has made significant progress during the last seven months against its strategic priorities of reducing volatility, business simplification, and improving profitability. The Company has a healthy balance sheet and its capital position has been further strengthened by the recently announced Loss Portfolio Transfer transaction, which is subject to regulatory approval, while ratings agency Fitch recently upgraded SirusPoint’s Outlook to Stable from Negative.

Shareholders are not required to take any action at this time.

About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents within our Insurance & Services segment. With $2.9 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit www.siriuspt.com.

Contacts

Investor Relations
Dhruv Gahlaut, Chief Strategy Officer & Head of Investor Relations
dhruv.gahlaut@siriuspt.com
+44 7514 659 918

Media
Clare Kerrigan, Chief Communications Officer
clare.kerrigan@siriuspt.com
+44 7720 163 949

Source: SiriusPoint Ltd.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.