Sirius looks to expand with BDA reinsurance subsidiary

Sirius appears to be laying the foundations for further
expansion with the conversion of its Bermuda branch to a separately
capitalised operating subsidiary.The move comes after the (re)insurer was bought by China
Minsheng Investment Corp (CMI) for $2.59bn in a transaction that
closed in April this year.The new Bermuda class 3A reinsurance entity will start
underwriting next month, and is initially expected to assume a 25
percent quota share of business written by the group's Swedish
operating c