White Mountains Insurance Group Ltd. has completed the reorganization and rebranding of its global reinsurance business. All reinsurance operating entities will be consolidated under Sirius International Insurance Corp. (Sirius International), and the reinsurance group will operate as the Sirius Group (formerly White Mountains Re Ltd.). Sirius International’s regulatory capital will increase to $2.2 billion pro forma for the reorganization.
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.
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