White Mountains Completes Sale of Sirius International

Kramer Levin client White Mountains Insurance Group Ltd. announced on April 18, 2016, that it has completed the sale of Sirius International Insurance Group Ltd. to a subsidiary of CM International Holding Pte. Ltd., the Singapore-based investment arm of China Minsheng Investment Corp. Ltd. (CMI). CMI is a recently formed Chinese private investment firm. The gross estimated purchase price paid at the closing was $2.6 billion. Kramer Levin advised White Mountains on New York and Tennessee insurance regulatory approvals, which included extensive discussions with these regulators and multiple rounds of comments and questions, as well as an administrative hearing in Tennessee. Corporate partner Daniel A. Rabinowitz and associate Alexander Traum comprised the Kramer Levin team on the matter.