Market Overview

White Mountains Insurance Group Completes Sale Of Sirius International Insurance Group


White Mountains Insurance Group Ltd (NYSE: WTM) completed the divestment of Sirius International Insurance Group Ltd to a unit of CM International Holding Pte Ltd. The company indicated the gross estimated purchase price paid was $2.59 billion at the time of closing.

White Mountains Insurance said about $160 million from the proceeds would be used to buy out Sirius Group's certain assets to be retained by it. That included OneBeacon shares.

The company indicated the deal was projected to result in a gain of about $90 to the adjusted book value per share of White Mountains Insurance. The company indicated it was in a quiet period ahead of the earnings release on May 2.

On Monday, shares of the company traded down by 0.6 percent.


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