History

 

Four European mutual companies formed Sirius America Insurance Company (formerly White Mountains Reinsurance Company of America) in 1980. Since then, Sirius America Insurance Company (“Sirius America”) has employed a focused, forward-looking strategy that has provided a foundation for our growth, strengthened our financial position and established our reputation for quality.  In 1996, seeing the need for continued surplus growth, Sirius America attracted the interest of White Mountains Insurance Group, Ltd. (“White Mountains”).

 

White Mountains made its initial investment in Sirius America in June of 1996 when it acquired a 50% ownership, with the remaining 50% owned by the founding European mutual companies. Two years later, White Mountains acquired the balance of Sirius America from the founding European mutuals. Since August 1998 Sirius America has been a wholly owned subsidiary of White Mountains, benefitting from its strength, capital and support.  White Mountains contributed $425 million in 2001, almost doubling the size of Sirius America and greatly enhancing its strong position in a rapidly changing reinsurance marketplace.

 

Sirius America’s success was also a result of significant acquisition activity. From 1991 to 2004, a time period in which Sirius America's surplus grew from $113 million to nearly $1 billion, nine acquisitions were completed.

 

In 2004, along with White Mountains, we led the acquisition of Sirius International.  As a result, a reinsurance group known as Sirius International Group Ltd. was created to oversee the global reinsurance operations, and we became a large and integral affiliate of this global reinsurance operation. For more information on Sirius International Insurance Group Ltd., visit www.siriusgroup.com