Mayer Brown represented SiriusPoint, a global underwriter of insurance and reinsurance, in its agreement with Compre for a loss portfolio transfer (LPT) transaction covering approximately $1.3 billion of reserves underwritten by SiriusPoint’s international reinsurance business in Sweden and its Lloyd’s Syndicate 1945. The LPT is subject to regulatory approvals and other conditions of closing.
This transaction is the second significant LPT between SiriusPoint and Compre, following on the completed acquisition of a $417 million legacy liability portfolio by Compre from SiriusPoint in 2021. The new $1.3 billion LPT relates to a portfolio comprised of several classes of business from 2021 and prior underwriting years.
The team was led by global Insurance Industry Group partner Vikram Sidhu and included Mayer Brown lawyers across multiple practices including Colin Scagell, Jared Wilner, Yuliya Feldman and Juliana Toes.