Debevoise & Plimpton LLP is advising Third Point Reinsurance Ltd. (NYSE: TPRE) in its merger with Sirius International Insurance Group, Ltd. (Nasdaq: SG) in a transaction valued at $788 million. The transformational transaction will create a global company with approximately $3.3 billion of tangible capital, to be renamed SiriusPoint Ltd., that will be ideally positioned to pursue a range of significant expansion opportunities in the insurance and reinsurance market. For more information, please read the company’s press release.
Third Point Re is a public company listed on the New York Stock Exchange which, through its wholly owned subsidiaries Third Point Reinsurance Company Ltd. and Third Point Reinsurance (USA) Ltd., writes property and casualty reinsurance business. Sirius Group, with $2.4 billion of total capital and roots dating back to 1945, is a global multi-line (re)insurer headquartered in Bermuda with a unique global branch network, including offices in Stockholm, New York and London.
The Debevoise team is led by partner Nick Potter and includes partners Andrew Bab, Jeffrey Cunard, Peter Furci, Susan Gittes, Eric Juergens, Henry Lebowitz, Jon Lewis, Daniel Priest, Sunil Savkar and Steven Slutzky, counsel Kyra Bromley, Alison Buckley-Serfass, Robert Fettman, Andrew Jamieson, Ben Lyon, Zahra Sowder and Clare Swirski and associates Ali Bazzi, Isabel Espinosa de los Reyes, Sandy De Sousa, Melody Godbolt, Dexter Hoffman, Margaret Zellner McInnis, Ezra Newman, Katie Power, Brita Siepker and Arianna Thompson.