HAMILTON, Bermuda, Dec. 23, 2019 /PRNewswire/ -- Sirius
International Insurance Group, Ltd. (NASDAQ: SG) ("Sirius Group")
announces that it is expanding its facultative
product offerings in the Asian region to better service
its clients, beginning in early 2020. Through the office in
Singapore, Sirius Group will
onboard a team of key underwriters coming from Asia Capital
Reinsurance Group ("ACR") to strengthen and expand its property,
engineering and aviation portfolios.
The facultative portfolio written by Sirius Group is currently
led by Lim Kheng Seong, an
established underwriter in the Asian market region. The new
hires will include Jess Au and
Steve Ng who will head the property
and engineering divisions respectively. Jess brings 22 years
of underwriting experience in property and Steve has 17 years of
engineering underwriting expertise. Both Jess and Steve have
previously worked for Lloyd's Syndicates in Singapore as well as established reinsurance
companies in
Asia.
Through the Singapore office,
Sirius Group's Zurich branch will
also offer facultative general aviation reinsurance in the
Asian region with a team headed by Nomdo Kruis. Nomdo has 14 years
of aviation underwriting experience worldwide having worked for
Swiss Re and other reputable reinsurers in Europe and Asia before joining ACR. The product
offering will complement the worldwide aviation and space business
written from Zurich.
About Sirius Group
Sirius Group, with $2.6 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's success over the years has come from working with honest,
capable partners. 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, ArmadaCorp Capital,
LLC and International Medical Group Acquisition, Inc. Sirius
Group has been publicly traded since November 2018. You can
learn more by visiting www.siriusgroup.com.
Cautionary Note Regarding Forward-Looking Statements
We have made statements in this press release that are
forward-looking statements within the meaning of the federal
securities laws, including the Private Securities Litigation Reform
Act of 1995, including statements about the expansion of
property, engineering and aviation portfolios. You can identify
forward-looking statements by the use of forward-looking
terminology such as "plan," "believe," "expect," "anticipate,"
"intend," "outlook," "estimate," "forecast," "project," "target,"
"continue," "could," "may," "might," "will," "possible,"
"potential," "predict," "should," "would," "seeks," "likely," and
other similar words and expressions, but the absence of these words
does not mean that a statement is not forward-looking. The
forward-looking statements are based on the current expectations of
the management of Sirius Group and speak only as of the date of
this document. There can be no assurance that future developments
will be those that have been anticipated. These forward-looking
statements involve a number of risks, uncertainties or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited to, Sirius Group's exposure to unpredictable
catastrophic and casualty events and unexpected accumulations of
attritional losses; increased competition from existing insurers
and reinsurers and from alternative capital providers, such as
insurance-linked funds and collateralized special purpose insurers;
decreased demand for Sirius Group's insurance or reinsurance
products, consolidation and cyclical changes in the insurance and
reinsurance industry; the inherent uncertainty of estimating loss
and loss adjustment expenses reserves, including asbestos and
environmental reserves, and the possibility that such reserves may
be inadequate to cover Sirius Group's ultimate liability for
losses; a decline in Sirius Group's operating subsidiaries' ratings
with rating agencies; the exposure of Sirius Group's investments to
interest rate, credit, equity risks and market volatility, which
may limit Sirius Group's net income and may affect the adequacy of
its capital and liquidity; the impact of various risks associated
with transacting business in foreign countries, including foreign
currency exchange-rate risk and political risks on investments in,
and revenues from, Sirius Group's operations outside the U.S.; the
possibility that Sirius Group may become subject to additional
onerous governmental or regulatory requirements or fail to comply
with applicable regulatory and solvency requirements; Sirius
Group's significant deferred tax assets may become materially
impaired as a result of insufficient taxable income or a reduction
in applicable corporate tax rates or other change in applicable tax
law; a decrease in the fair value of Global A&H and/or Sirius
Group's intangible assets may result in future impairments; the
limited liquidity and trading of Sirius Group's securities; CMIG
International Holding Pte. Ltd.'s status as a controlling
shareholder, including its affiliates' liquidity issues; Sirius
Group's status as a publicly traded company, foreign private issuer
and controlled company; and other risks identified in Sirius
Group's Annual Report on Form 10-K for the year ended December 31, 2018, subsequent Quarterly Reports
on Form 10-Q and other filings with the U.S. Securities and
Exchange Commission. Should one or more of these risks or
uncertainties materialize, or should any of the assumptions made by
the management of Sirius Group prove incorrect, actual results may
vary in material respects from those projected in these
forward-looking statements. Except as required by applicable law or
regulation, we disclaim any obligation to publicly update or revise
any forward-looking statement to reflect changes in underlying
assumptions or factors, or new information, data or methods, future
events or other circumstances after the date of this release.
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