Sirius Insurance Closes Deal with Easterly, Becomes Public Company

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Sirius International Insurance Group, Ltd., a global multi-line insurance and reinsurance group, has closed the previously announced business combination with the special purpose private asset management company Easterly Acquisition Corp.

As a result, a wholly owned subsidiary of Sirius Group has merged into Easterly, Easterly has become a wholly owned subsidiary of Sirius Group, and shares have been exchanged. Sirius Group’s common shares will be now be traded on the Nasdaq under the symbol “SG” beginning today. Sirius Group said it has applied to list its public warrants on the OTCQX International market.
In connection with the merger, the affiliated funds of Gallatin Point Capital, The Carlyle Group, Centerbridge Partners and Bain Capital Credit acquired 205 million B Series shares and $ 8 million joint shares at the merger price. In addition, employees and friends and the family of the Sirius Group acquired the $ 16 million Sirius Group common stock.

Sirius Group announced that it has restructured its board of directors, including most of its independent board members. They will serve together with Allan L. Waters, president and CEO of the Sirius Group; and Feng (Laurence) Liao, CEO of CMIG International Holding Pte. Ltd. is the main shareholder of Sirius Group after the merger.

Için This is a day of water for the Sirius Group, ü said Allan Waters, president and CEO. Tır A public listing, increased shareholder diversification by four globally recognized investment companies, and strong, independent management will benefit all stakeholders and add fuel to our future growth.

The Bermuda-based Sirius Group is a holding company with (re) insurance companies in Bermuda, Stockholm, New York and London. Founded in 1945, the Sirius Group provides insurance and reinsurance in more than 140 countries. In 2017, the Sirius Group wrote a gross $ 1.4 billion written bonus.

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