White Mountains Re Sirius BermudaEffective September 1, 2009, White Mountains Insurance Group, Ltd. reorganized its reinsurance business by converting its Bermuda reinsurance operations into a branch of White Mountains Re Sirius. Warren Trace, former President and CEO of White Mountains Re Bermuda, is in charge of the Bermuda branch operations, reporting to Goran Thorstensson, President and CEO of Sirius.
Allan Waters, President and CEO of White Mountains Re, said “This reorganization keeps our successful Bermuda reinsurance team in place while bringing the security of the whole Sirius balance sheet to our clients in Bermuda. Our team is excited about the new structure and looks forward to continuing our strong relationships with all our brokers and clients.”
White Mountains Re has contributed in excess of $200 million of capital to Sirius, which now has in excess of $1.6 billion of regulatory capital on a pro forma basis as of June 30, 2009. |