SiriusPoint to Ring New York Stock Exchange Opening Bell On March 16
SiriusPoint Ltd., an international specialty insurance and reinsurance company, celebrated its listing on the NYSE under the ticker symbol SPNT by ringing The Opening Bell® on March 16, 2021. The company launched trading on February 26, 2021, with over $3 billion in capital and a diversified portfolio. Formed from the merger of Third Point Reinsurance and Sirius International Insurance Group, SiriusPoint aims to lead innovation in the post-pandemic insurance landscape.
- SiriusPoint began trading on the NYSE with over $3 billion in capital.
- The merger creates a diversified global insurance and reinsurance platform.
- Forward-looking statements indicate potential risks including pandemic impacts and integration challenges.
- Concerns exist regarding the adequacy of reserves and investment portfolio performance.
HAMILTON, Bermuda, March 16, 2021 (GLOBE NEWSWIRE) -- Sid Sankaran, Chief Executive Officer and Chairman of SiriusPoint Ltd. (“SiriusPoint” or the “Company”), an international specialty insurance and reinsurance company, will ring The Opening Bell® of the New York Stock Exchange at 9.30am ET on Tuesday March 16, 2021. The event celebrates the formation of the Company and its listing under the NYSE ticker symbol SPNT.
SiriusPoint launched and began trading on the New York Stock Exchange on Friday, February 26, 2021, with over
“I am delighted to be ringing the Opening Bell at the NYSE in this celebration of renewal,” said Mr. Sankaran. “SiriusPoint has launched as one of the first key players in the class of 2020. The insurance and reinsurance industry has a history of responding with innovation after any big shock event, and the dislocation caused by the pandemic will spark the kind of change that gives birth to a new chapter in the story of the industry. We believe that SiriusPoint will be at the forefront of that change - a disruptive force driving innovation and progress.”
The Bermuda-headquartered Company has been formed from the merger between Third Point Reinsurance Ltd. (NYSE: TPRE) ("Third Point Re"), a specialty reinsurer, and Sirius International Insurance Group, Ltd. (Nasdaq: SG) ("Sirius Group"), a global multi-line insurer and reinsurer.
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). We write a global portfolio of Accident and Health, Property, Liability and Specialty business, combining data and creative thinking to underwrite risks with skill and discipline. With over
Contacts
Investor Relations
Clare Kerrigan, SiriusPoint
clare.kerrigan@siriuspt.com
+44 7970 685959
Media
Sarah Hill, Rein4ce
sarah.hill@rein4ce.co.uk
+44 7718882011
Source: SiriusPoint Ltd.
Forward-Looking Statements
We make statements in this press release that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about SiriusPoint’s impact on innovation and progress in the insurance and (re)insurance industry. The forward-looking statements are based on the current expectations of the management of SiriusPoint Ltd. 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; unanticipated reactions of rating agencies in response to the merger of SIIG and TPRE or other events; the costs, expense and difficulties of the integration of the operations of TPRE and SIIG; loss and LAE 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; SiruisPoint’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 presentation.
FAQ
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