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White Mountains reorganizes reinsurance business as Sirius Group

White Mountains Insurance Group, a Bermuda-based financial services firm, has reorganized and rebranded its global reinsurance business as the Sirius Group (formerly White Mountains Re).

Sirius America Insurance, formerly White Mountains Reinsurance Company of America will be owned by Sirius International.

It will retain approximately $600m of statutory surplus and will receive $300m of additional capital and stop loss support from its parent Sirius International.

Sirius Group president and CEO Allan Waters said operating globally under the longstanding Sirius brand with all the clients benefiting from over $2bn of regulatory capital.