HAMILTON, Bermuda, Feb. 5, 2021 /PRNewswire/ -- Third Point
Reinsurance Ltd. (NYSE: TPRE) ("Third Point Re"), a specialty
reinsurer, and Sirius International Insurance Group, Ltd. (Nasdaq:
SG) ("Sirius Group"), a global multi-line insurer and reinsurer,
today announced that they have set the deadline for shareholders of
Sirius Group to make an election with respect to the form of
consideration they wish to receive pursuant to the Agreement and
Plan of Merger, dated as of August 6, 2020, by and among
Sirius Group, Third Point Re and Yoga Merger Sub Limited (the
"Merger Agreement"). The election deadline is 5:00 p.m., New York
City time (6:00 p.m.,
Bermuda time), on
February 11, 2021. Third Point Re and Sirius Group
currently expect to consummate the transactions contemplated by the
Merger Agreement on or about February 26, 2021, subject to the
satisfaction of all closing conditions. The election deadline
will be similarly extended in the event the anticipated closing
date is delayed to a subsequent date, in which case Third Point Re
and Sirius Group will promptly announce any such delay and, when
determined, the rescheduled election deadline.
Registered Sirius Group shareholders are reminded that if they
wish to make an election, they must complete, sign and return a
Form of Election and Letter of Transmittal to Computershare Trust
Company, N.A., as exchange agent, by the election deadline.
Shareholders holding shares through a broker, bank or other
nominee should carefully follow the instructions provided by such
broker, bank or other nominee to make an election. Such
shareholders may be subject to an earlier deadline from their
brokers, banks or nominees for making an election. Holders of
Sirius Group shares who fail to make a timely election or who make
no election will be deemed to have agreed to make a Share & CVR
election in respect of the Sirius Group shares they hold.
Shareholders with questions should contact Georgeson LLC, in its
capacity as Third Point Re's information agent, toll free at (866)
828-4304.
About Third Point Re
Third Point Reinsurance Ltd.
(Third Point Re) is a Bermuda
headquartered holding company listed on the New York Stock Exchange
(TPRE). The company underwrites specialty, property and
casualty business through its wholly-owned subsidiaries, Third
Point Reinsurance Company Ltd. and Third Point Reinsurance
(USA) Ltd., which both have 'A-'
(Excellent) financial strength ratings from AM Best. With
offices in Bermuda, New Jersey and London, the Third Point Re companies
specialize in finding innovative solutions for niche and complex
risks. You can learn more by visiting:
www.thirdpointre.com.
About Sirius Group
Sirius Group, with $2.5 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.
Sirius Group provides a fully diversified set of tailored
risk products to clients in approximately 150 countries, including
health and travel products to consumers through its two managing
general underwriters, ArmadaCare and International Medical Group.
Sirius Group has been publicly traded on Nasdaq since
November 2018. You can learn
more by visiting www.siriusgroup.com.
Where to Find Additional Information
This
communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. This communication may be deemed to be
solicitation material in respect of the merger. In connection
with the merger, Third Point Re filed with the SEC on October 23, 2020 a final joint proxy
statement/prospectus (the "Joint Proxy Statement/Prospectus"),
which was declared effective by the SEC, and each of Third Point Re
and Sirius Group may be filing with the SEC other documents
regarding the merger. INVESTORS AND SECURITY HOLDERS ARE
ADVISED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS, BECAUSE IT
CONTAINS IMPORTANT INFORMATION. Investors and security
holders may obtain a free copy of the Joint Proxy
Statement/Prospectus and other documents filed by Third Point Re
and Sirius Group with the SEC at http://www.sec.gov. Free
copies of the Joint Proxy Statement/Prospectus and each company's
other filings with the SEC may also be obtained from the respective
companies. Free copies of documents filed with the SEC by
Third Point Re will be made available free of charge on Third Point
Re's investor relations website at
https://www.thirdpointre.com/investors/. Free copies of
documents filed with the SEC by Sirius Group will be made available
free of charge on Sirius Group's investor relations website at
https://ir.siriusgroup.com/.
Forward-Looking Statements
Information set forth in
this communication, including financial estimates and statements as
to the expected timing, completion and effects of the proposed
merger between Third Point Re and Sirius Group, constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These estimates and statements are subject to risks and
uncertainties, and actual results might differ materially.
Such estimates and statements include, but are not limited
to, statements about the date the transactions may be consummated,
the benefits of the merger, including future financial and
operating results, the combined company's plans, objectives,
expectations and intentions, and other statements that are not
historical facts. Such statements are based upon the current
beliefs and expectations of the management of Third Point Re and
Sirius Group and are subject to significant risks and uncertainties
outside of our control. Among the risks and uncertainties
that could cause actual results to differ from those described in
the forward-looking statements are the following: (1) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the merger agreement, (2) the
risk that the necessary regulatory approvals may not be obtained or
may be obtained subject to conditions that are not anticipated,
(3) risks that any of the closing conditions to the proposed
merger may not be satisfied in a timely manner, and (4) the
risk that SiriusPoint may not achieve the expected benefits of the
transaction. Discussions of additional risks and
uncertainties are contained in Third Point Re's and Sirius Group's
filings with the Securities and Exchange Commission. Neither
Third Point Re nor Sirius Group is under any obligation, and each
expressly disclaims any obligation, to update, alter, or otherwise
revise any forward-looking statements, whether written or oral,
that may be made from time to time, whether as a result of new
information, future events, or otherwise. Persons reading
this announcement are cautioned not to place undue reliance on
these forward-looking statements which speak only as of the date
hereof.
Contact Us
For Third Point Re
Media
Mairi Mallon
Rein4ce
mairi.mallon@rein4ce.co.uk
+44 7843 067533
Investor
Christopher S.
Coleman – Chief Financial Officer
+1 (441) 542-3333
investorrelations@thirdpointre.bm
For Sirius Group
Lynda
Caravello
+1 (215) 603-7697
investor.relations@siriusgroup.com
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SOURCE Third Point Reinsurance Ltd.