SIRIUSPOINT LTD FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive Agreement.

On March 2, 2023, certain property and casualty insurance subsidiaries of
SiriusPoint Ltd., SiriusPoint International Försäkringsaktiebolag (PUBL) and
Sirius International Managing Agency Limited, in its capacity as the managing
agent for Sirius International Syndicate 1945 at Lloyd's (together, the
"SiriusPoint Cedents"), entered into that certain Master Agreement (the "Master
Agreement"), dated as of March 2, 2023, made by and among the SiriusPoint
Cedants and Pallas Reinsurance Company Ltd. ("Pallas Re"), a Class 3B insurer
incorporated and registered in Bermuda and a subsidiary in the Compre group of
companies.

Pursuant to the Master Agreement, at closing, (a) the SiriusPoint Cedents
(and/or an affiliate, as the case may be) will enter into Loss Portfolio
Transfer Reinsurance and Retrocession Agreements (together, the "LPT
Agreements") with Pallas Re, pursuant to which the SiriusPoint Cedents will cede
and Pallas Re will assume 100% of the liability with respect to certain
insurance and reinsurance exposures of the SiriusPoint Cedents written in
underwriting years 2021 and prior (the "Subject Business") on a funds withheld
basis, subject to the terms and conditions of the LPT Agreements including an
aggregate limit; (b) the SiriusPoint Cedents and Pallas Re will enter into an
administrative services agreement concerning the parties' authority and
responsibility for certain administrative services, including claims handling;
and (c) the SiriusPoint Cedents, Pallas Re and a trustee will enter into two
trust agreements, pursuant to which Pallas Re will be obligated to maintain, for
the term of the LPT Agreements, certain permitted types of eligible assets as
partial collateral securing Pallas Re's reinsurance obligations with respect to
the Subject Business. The reserves supporting the Subject Business were valued
at approximately US$1.3 billion as of September 30, 2022. The aggregate limit
under the LPT Agreements is 130% of such reserve amount less certain adjustments
for paid losses and reserve redundancies.

The Master Agreement and the LPT Agreements include customary representations
and warranties, indemnification obligations, covenants and termination rights of
the parties. The transaction is anticipated to close and incept on or around
June 30, 2023, subject to regulatory approvals and other customary closing
conditions.

Item 7.01 Regulation FD Disclosure

On March 2, 2023, the Company issued a press release announcing the transaction.
A copy of the press release is attached to this Current Report on Form 8-K and
is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                 Description

99.1                          Press Release, dated as of March 2, 2023, issued by SiriusPoint Ltd  .
104                         Cover Page Interactive Data File (embedded within the Inline XBRL
                            document)

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