White Mountains says Sirius America Insurance Co. (Sirius America, formerly White Mountains Reinsurance Co. of America) will be owned by Sirius International, retaining about $600 million of statutory surplus. It will receive $300 million of additional capital and stop loss support from its parent, Sirius International.
Group financial strength ratings from the four major ratings agencies are expected concurrently with the reorganization, says White Mountains. The reorganization, subject to receipt of regulatory approvals, is expected to be completed in Q4.