SiriusPoint Ltd. Contingent Value Rights to trade on the OTCQX
SiriusPoint Ltd. (NYSE: SPNT) announced that its Contingent Value Rights (CVRs) have qualified to trade on the OTCQX Best Market. The CVRs were issued to investors of Sirius International Insurance Group during the merger with Third Point Reinsurance Ltd. Trading for these CVRs began on June 10 under the symbol SSPCF. SiriusPoint operates globally with over $3 billion in total capital and holds an A- financial strength rating from AM Best, S&P, and Fitch. Investors can find real-time quotes and financial disclosures on OTC Markets.
- CVRs qualifying to trade on OTCQX may increase liquidity for shareholders.
- SiriusPoint maintains a strong financial position with over $3 billion in capital.
- Potential risks related to integration with Third Point Reinsurance, including operational difficulties.
- Fluctuations in investment returns and market volatility could adversely affect financial results.
HAMILTON, Bermuda, June 16, 2021 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT; OTCQX: SSPCF) today announced that the company’s CVRs (Contingent Value Rights) have qualified to trade on the OTCQX® Best Market.
The newly trading CVRs were issued to investors of Sirius International Insurance Group upon the merger of the company with Third Point Reinsurance Ltd. who elected to receive the Share & CVR consideration in advance of the merger, and to any “Non-Electing Holder”, who did not make a timely election for all of his or her shares, and who was therefore entitled to receive the Share & CVR Consideration with respect to those shares. They began trading on OTCQX on June 10, under the symbol “SSPCF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
For further information please contact SiriusPoint investor relations at investor.relations@siriuspt.com, or by phone at +1 (441) 542-3333.
About SiriusPoint
SiriusPoint Ltd. (SiriusPoint) is a top 20 global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices around the world, we are listed on the New York Stock Exchange (SPNT) and the company’s CVRs trade on the OTCQX Best Market (SSPCF). We write a global portfolio of Accident and Health, Specialty, Property and Runoff, combining data and creative thinking to underwrite risks with skill and discipline. With over
Contact
Clare Kerrigan,
Investor Relations
clare.kerrigan@siriuspt.com
+1 (441) 542-3333
Forward-Looking Statements
We make statements in this report that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the current expectations of the management of SiriusPoint and speak only as of the date of this document and are subject to significant risks and uncertainties outside of our control. You can identify forward-looking statements by the use of forward-looking terminology such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “target,” “continue,” “could,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “should,” “would,” “seeks,” “likely,” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; loss and loss adjustment expense reserves may be inadequate to cover SiriusPoint’s ultimate liability for losses and as a result its financial results could be adversely affected; SiriusPoint’s investment portfolio may suffer reduced returns or losses; adverse changes in interest rates, foreign currency exchange rates, equity markets, debt markets or market volatility could result in significant losses to SiriusPoint’s investment portfolio; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; SiriusPoint has significant deferred tax assets, which may become devalued if either SiriusPoint does not generate sufficient future taxable income or applicable corporate tax rates are reduced; lack of availability of capital; future strategic transactions such as acquisitions, dispositions, mergers or joint venture; technology breaches; SiriusPoint’s lack of control over the TP Fund and the allocation and performance of TP Fund’s investment portfolio; SiriusPoint’s dependence on Third Point LLC to implement TP Fund’s investment strategy; and Arcadian Risk Capital Ltd.’s ability to, and success at, writing the business indicated, its expansion plans and the Company’s ability to place quota share reinsurance on the portfolio. Discussions of additional risks and uncertainties are contained in SiriusPoint’s filings with the Securities and Exchange Commission (the “SEC”), including risks identified in SiriusPoint’s (f/k/a Third Point Reinsurance Ltd.) Annual Report on Form 10-K for the year ended December 31, 2020, and other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by the management of SiriusPoint prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this report.
Source: SiriusPoint Ltd.
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