Fitch Ratings has placed the BBB long-term issuer default rating of Sirius International Group Ltd. and the A- insurer financial strength ratings of Sirius Bermuda Insurance Co. Ltd., Sirius International Insurance Corp. and Sirius America Insurance Co. on Rating Watch Negative.
The ratings action reflects the announcement that Sirius International Group is exercising its option to acquire a controlling stake in Phoenix Holdings Ltd. The rating agency expects to resolve the Negative Watch after a review of the credit quality of Phoenix, which it does not rate.
