AM Best's negative outlooks reflect its ongoing concern that the financial strength of the Sirius Group and its subsidiaries may deteriorate over time following its acquisition by China Minsheng Investment (CMI), a private investment holding company that has interests in energy, aviation and real estate, in addition to insurance. AM Best views the credit profile of CMI as materially weaker than that of Sirius Group. It expects Sirius Group to demonstrate an increased level of independence from CMI over the short term; failure to do so is likely to result in a negative rating action.