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SiriusPoint Ltd., the Bermuda-based international specialty insurance and reinsurance company, has launched today with more than $3 billion in initial capital.

The company was created from the merger of specialty reinsurer Third Point Reinsurance Ltd.

and Sirius International Insurance Group Ltd., a multi-line insurer and reinsurer. The deal was first announced in August 2020.

SiriusPoint has launched as one of the first substantial re/insurers of the Class of 2020, with a robust capital structure, global platform, underwriting talent, and long-standing client and broker relationships already in place, said the company in a statement.

“This is a strategic union of two highly complementary organizations.

SiriusPoint is an opportunity to leverage our combined strengths and re-focus our organization on profitability, innovative partnerships and solutions,” said Sid Sankaran, chief executive officer and chairman of SiriusPoint.

“Our breadth of footprint combined