White Mountains Re Announces New Syndicate at Lloyd's

5/23/2011

Hamilton, Bermuda – 23 May 2011 – White Mountains Re Ltd., the reinsurance unit of White Mountains Insurance Group, Ltd. (NYSE: WTM), today announced that its Sirius International Insurance Corporation affiliate has received approval in principle from the Lloyd’s Franchise Board to establish Lloyd’s Syndicate 1945. 1945 was the year Sirius was founded.

The Syndicate will be managed by Whittington Capital Management Limited, a Lloyd's registered managing agency which is authorised and regulated by the Financial Services Authority in the UK. Sirius and Whittington are working with Lloyd’s to secure final approval to commence underwriting business incepting on or after 1 July 2011.

The Syndicate’s underwriting plan will comprise insurance and reinsurance in the accident and health and contingency lines transferred from the London branch office. These are classes in which Sirius has an established track record and reputation in the London market.

The active underwriter of Syndicate 1945 with principal authority to write business will be Mike Dashfield. Since 1998 Mike has run Sirius’ London branch office, one of Sirius’ largest and most profitable branches.

Mike Dashfield said: “Sirius has been in the London market since 1979 and becoming a full syndicate is a natural step for us. We believe we are bringing something different to Lloyd’s with our underwriting expertise and leadership capabilities in Accident and Health and Contingency, and these lines will flourish when coupled with the unrivalled underwriting platform which is Lloyd’s.”

Göran Thorstensson, CEO of Sirius, said: “We are pleased to have reached this point in the process to establish Syndicate 1945 which will provide a superior distribution channel for our products. We will have full access to the international markets in which Lloyd’s operates as well as the strength of Lloyd’s franchise. We have an outstanding team with an exceptional track record and substantial experience, and are confident that Syndicate 1945 will be successful.”


ADDITIONAL INFORMATION

Sirius is a Sweden-based international reinsurer that focuses mainly on property and other short-tailed lines. Sirius is the largest reinsurance company in Scandinavia and a leading reinsurer in Europe. Sirius’ home office is in Stockholm, and it has branch offices in Bermuda, Copenhagen, Hamburg, Liege, London, Singapore and Zurich. Additional information is available at www.siriusgroup.com.

White Mountains Re is a Bermuda-domiciled holding company whose operating companies offer lead capacity for property, accident & health, aviation, trade credit, marine and other exposures. Additional information is available at www.wtmre.com.

White Mountains Insurance Group, Ltd. is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM. Additional information is available at www.whitemountains.com

© 2018 Sirius International Insurance Group Ltd. All Rights Reserved.

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