Sirius International Insurance Group Ltd, a wholly-owned subsidiary of White Mountains Insurance Group Ltd, has through a subsidiary acquired the runoff loss reserve portfolio of Bermuda-based Old Lyme Insurance Company Ltd.Old Lyme has been in runoff since 2008.The company’s loss reserves of approximately $23 million were transferred via novation agreements into a Bermuda reinsurance subsidiary of Sirius Group.The transaction closed at the end of last year and was led by White Mountains Solutions the specialist runoff acquisition team of Sirius Group.Old Lyme is the seventh runoff acquisition White Mountains Solutions has completed.“We are pleased by the successful conclusion of the Old Lyme transaction,” said Neal Wasserman, president of White Mountains Solutions. “This was a somewhat unusual transaction structure for the runoff sector and represents an example of our flexibility in working with clients to find creative solutions for bringing closure to their legacy liabilities.”