Reinsurance News
Sirius International Insurance Group
NA reinsurers report deterioration in underwriting results: Fitch
1st April 2021
All North American reinsurers analysed by Fitch Ratings have reported deterioration in underwriting results, leading to underwriting losses. The overall segment reported a combined ratio of 105.4% in 2020, up nearly 9 percentage points from the prior year, with COVID-19 losses as the primary difference. The losses added 7.4 percentage points to ... Read the full article
Sirius posts Q2 net loss but underwriting profitability returns
7th August 2020
Sirius International Insurance Group, Ltd. has fallen to a net loss of $14 million for the second-quarter of 2020, while underwriting profitability returned as the firm recorded a combined ratio of 96% for the period. The firm's Q2 2020 net loss compares to net income of $102 million in the same ... Read the full article
Sirius International’s ratings downgraded, placed under review by A.M. Best
5th March 2020
International financial services ratings agency A.M. Best has downgraded the credit ratings of Sirius International Insurance Group, Ltd. and its main rated subsidiaries, and, at the same time, has placed these ratings under review with negative implications. Specifically, A.M. Best has downgraded the Financial Strength Ratings (FSR) to A- (Excellent) from ... Read the full article
A.M. Best turns negative on Sirius International
22nd November 2019
Global financial services ratings agency, A.M. Best, has revised its outlooks to negative from stable for Sirius International Insurance Group, Ltd. and its main rated subsidiaries, citing the deterioration of the firm's operating performance metrics since 2017. Specifically, A.M. Best has revised the outlooks to negative and affirmed the Financial Strength ... Read the full article
Sirius confirms Meyer Frucher as Non-Exec Chairman of the Board
18th November 2019
The Board of Directors of global insurer and reinsurer, Sirius International Insurance Group, Ltd., has confirmed the appointment of Meyer Frucher as Non-Executive Chairman of the Board. Back in February 2019, during the announcement that Kernan Oberting was to succeed Allan Waters as Chief Executive Officer (CEO) of Sirius Group, ... Read the full article
Sirius International’s underwriting result suffers as cat losses climb 42%
7th November 2019
An increase in pre-tax catastrophe losses, net of reinsurance and reinstatement premiums, to $109 million adversely impacted Sirius International Insurance Group, Ltd.'s underwriting performance in the third-quarter of 2019, with the firm reporting a net loss of $3 million. Catastrophe losses increased by almost 42% for Sirius in Q3 when compared ... Read the full article
Fitch removes Sirius ratings from negative watch
22nd October 2019
Fitch Ratings has removed Sirius International Group Ltd.’s ratings from Rating Watch Negative and assigned them a stable outlook. The rating agency also affirmed the BBB' Long-Term Issuer Default Rating (IDR), 'BBB-' senior debt rating and 'A-' (Strong) Insurer Financial Strength (IFS) rating of Sirius's operating subsidiaries. Sirius’s ratings were placed ... Read the full article
Laurence Liao resigns from Sirius’ board
23rd August 2019
Laurence Liao has resigned from global re/insurance group Sirius International’s Board of Directors and his role as Chair of its Finance Committee. Sirius has stated that Liao made the decision to leave in order to focus on his role at CMIG International Holding. CMIG International is a subsidiary of China Minsheng Investment ... Read the full article
Jebi loss creep drives Q2 underwriting loss for Sirius
8th August 2019
Further loss creep from typhoon Jebi has hit the performance of Sirius International Insurance Group, Ltd. in the second-quarter of 2019, driving the firm's net income down from $98 million in Q2 2018 to $7 million in Q2 2019. The impact of loss creep from Jebi also hit the firm's H1 ... Read the full article
Sirius International’s Nasdaq listing reinforces independence from parent, says A.M. Best
19th February 2019
A.M. Best has commented that the credit ratings of Sirius International Insurance Group, Ltd (SIIG) and its main subsidiaries are unchanged, noting that its November 2018 Nasdaq listing reinforces its independence from its ultimate parent, China Minsheng Investment Group Corp., Ltd. (CMIG). The comments from global financial services ratings agency, A.M. Best, ... Read the full article
Sirius announces new CEO and CFO appointments
4th February 2019
Global insurance and reinsurance group, Sirius International Insurance Group, Ltd., has announced that Kernan Oberting will succeed Allan Waters as Chief Executive Officer (CEO) of Sirius Group, while Ralph Salamone has been named as Oberting's replacement as Chief Financial Officer (CFO) of Sirius Group. Both of these appointments are effective February 9th, ... Read the full article
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