SPNT

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. SiriusPoint (SPNT) drew fresh attention after its second quarter 2026 earnings on July 29, reporting revenue of US$744.1 million and net income of US$68.6 million, alongside ongoing value focused investor interest. See our latest analysis for SiriusPoint. The latest earnings and ongoing buybacks appear to sit behind a mixed near term picture for SiriusPoint’s share price, with a 1-day share price return of 1.23% but a 7-day return that declined 9.05%. At the same time, the year-to-date share price return of 13.57% and 1-year total shareholder return of 29.98% point to momentum that has been building over a longer period. If SiriusPoint’s value story has caught your attention, this can be a good moment to broaden your search and check out 19 top founder-led companies SiriusPoint now trades at what some see as a sizeable discount to both analyst targets and estimated fair value after the recent pullback. Is that discount an opportunity, or a sign the market’s caution is justified? The most followed narrative currently values SiriusPoint at $27 per share, compared with the last close of $23.93. That gap hinges on how investors view earnings, margins, and where the P/E multiple could settle a few years from now. Read the complete narrative. Want to see what sits behind that $27 fair value for SiriusPoint? The narrative leans heavily on a specific revenue glide path, a slimmer profit margin profile, and a higher future earnings multiple than the stock commands today. Curious how those moving parts fit together into one target price? The full narrative breaks down the exact growth, profitability and valuation assumptions that drive this call. Result: Fair Value of $27 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this SiriusPoint narrative could easily be knocked off course if MGA partnerships underperform, or if catastrophe losses and reserve developments move against expectations. Find out about the key risks to this SiriusPoint narrative. With sentiment on SiriusPoint split between concern and optimism, it makes sense to move quickly and review the key data yourself. To weigh up both sides of the argument in one place, take a look at the 3 key rewards and 2 important warning signs If SiriusPoint has sharpened your focus, now is the time to widen your watchlist. Fresh ideas can help you spot opportunities before the crowd catches on. Target resilient returns by scanning companies with consistent payouts and higher yields through the 7 dividend fortresses. Hunt for quality at a discount by checking companies that look underpriced on fundamentals using the 52 high quality undervalued stocks. Prioritise peace of mind by reviewing companies with robust finances and low financial risk scores in the 82 resilient stocks with low risk scores. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SPNT. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

SiriusPoint Ltd. has reported its second-quarter 2026 results, with revenue of US$744.1 million and net income of US$68.6 million, alongside higher basic and diluted earnings per share from continuing operations than the same period a year earlier. These results, combined with analysts viewing SiriusPoint as attractively valued on metrics such as P/E, P/B, and P/S, have drawn attention to how its improving profitability profile aligns with its perceived value appeal. With net income rising year over year in the latest quarter, we'll examine how this earnings momentum may shape SiriusPoint's investment narrative. Uncover the next big thing with 20 elite penny stocks that balance risk and reward. To own SiriusPoint, you need to believe it can keep translating disciplined underwriting and its MGA-driven specialty focus into consistent earnings while managing catastrophe and reserve risks. The latest quarter’s higher net income and EPS, despite slightly lower revenue, supports the idea that margin improvement is a key near term catalyst. The biggest current risk remains pressure on underwriting quality and pricing if competition intensifies or MGA performance and “seasoning” do not hold up. So far, this print does not materially change that balance. The most relevant recent announcement alongside these results is the update on SiriusPoint’s ongoing share buyback, with nearly 26 million shares repurchased for about US$359.0 million to date. For investors focused on capital allocation, this sits directly against the earnings story, as repurchases can magnify per share metrics when combined with improving profitability, but they also increase sensitivity to any future setback in underwriting or investment income. Yet beneath these stronger numbers, the risk that softer pricing and competition could eventually compress margins is something investors should be aware of... Read the full narrative on SiriusPoint (it's free!) SiriusPoint's narrative projects $3.5 billion revenue and $248.7 million earnings by 2029. This requires 4.5% yearly revenue growth and a $236.6 million earnings decrease from $485.3 million. Uncover how SiriusPoint's forecasts yield a $27.00 fair value, a 13% upside to its current price. The most pessimistic analysts were already assuming earnings could fall toward about US$265.7 million on thinner margins, so this quarter’s progress may prompt you to question whether that cautious view still fits or if the story is shifting in a different direction. Explore 2 other fair value estimates on SiriusPoint - why the stock might be worth over 2x more than the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your SiriusPoint research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Our free SiriusPoint research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate SiriusPoint's overall financial health at a glance. Early movers are already taking notice. See the stocks they're targeting before they've flown the coop: AI is about to change healthcare. These 41 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. Find 52 companies with promising cash flow potential yet trading below their fair value. The future of work is here. Discover the 36 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SPNT. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in SiriusPoint Ltd.? Here are five stocks we like better. SiriusPoint reported solid second-quarter performance, with a 91.4% core combined ratio, $55 million in underwriting income and 6% growth in core gross written premiums to $982 million. First-half operating ROE reached 14.7%, while core ROE was 16.2%. The insurer is shifting capital toward higher-return, lower-volatility businesses such as Accident and Health, surety and credit, while reducing exposure to underpriced property catastrophe reinsurance, auto and other less attractive lines. Capital strength remained robust, including a 239% estimated Bermuda solvency ratio, $1.1 billion in liquidity and $295 million returned to shareholders in 2026, including share repurchases and a preference-share redemption. SiriusPoint (NYSE:SPNT) reported second-quarter underwriting profitability and book value growth as the specialty insurer continued to shift capital toward insurance lines it views as offering stronger risk-adjusted returns. Chief Executive Officer Scott Egan said the company’s strategy of diversifying its portfolio and reducing volatility has positioned it to pursue its across-the-cycle operating return on equity target of 12% to 15%. For the first half, SiriusPoint reported an operating return on equity of 14.7%, while its core business, excluding runoff operations, generated a 16.2% return on equity. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now “We are growing where we create the most value and where we see attractive returns for the risk we take,” Egan said, adding that the company would remain disciplined in markets where pricing or risk-adjusted returns do not meet its thresholds. SiriusPoint reported a core combined ratio of 91.4% in the second quarter and underwriting income of $55 million. Core gross written premiums increased 6% to $982 million, while net written premiums rose 1%. → Microsoft Just Flipped the AI Spending Narrative Overnight Operating net income was $79 million, or $0.67 per diluted share, unchanged from the prior-year period. Diluted book value per share excluding accumulated other comprehensive income increased by $0.50 during the quarter to $19.48. For the first half, core gross written premiums increased 3% to nearly $2 billion. The core combined ratio improved 2.3 points from the prior-year period to 90.1%, driving a 31% increase in underwriting income to $126 million. Operating earnings per share rose 17% year over year to $1.37. → Carrier Earnings Could Send the Stock to a New All-Time High Chief Financial Officer Jim McKinney said changes in the company’s portfolio mix reduced earned premium recognized during the second quarter by about $31 million, or 10%. The effect was attributed to growth in longer-duration lines, including surety, and reduced exposure to shorter-tail property catastrophe business. McKinney characterized the effect as a timing issue rather than an economic change, saying the slower earning pattern should provide a tailwind in future periods. During the question-and-answer session, he said the benefit is expected to build through the remaining quarters of 2026 and extend into the first quarter of 2027. Insurance and Services gross written premiums increased 15% in the quarter and 11% year to date. The segment’s combined ratio was 90.7% for the quarter and 91.4% for the first half, supported by disciplined underwriting and favorable prior-year reserve development. Reinsurance gross written premiums declined as SiriusPoint intentionally reduced exposures where market pricing had become less attractive. The Reinsurance combined ratio improved 5.2 points year to date to 88.3%, aided by lower catastrophe losses and portfolio-quality improvements. The company identified Accident and Health as its largest line, representing 27% of premiums. Egan said the business has grown to roughly $1 billion and is strategically important because of its profitability, lower volatility and lower correlation with broader property-and-casualty pricing cycles. SiriusPoint also cited growth opportunities in surety and credit, while remaining selective in general liability, financial and professional lines, marine and energy, and other property. The company said it continues to reduce auto exposure because of unfavorable loss-cost trends and reduced participation in property catastrophe reinsurance after additional rate pressure at midyear renewals. Property catastrophe reinsurance now represents about 4% of the portfolio, according to McKinney. Egan said the company has retained relationships with long-standing clients but is willing to walk away from individual risks where it does not see adequate pricing. Egan emphasized SiriusPoint’s use of specialist managing general agents, or MGAs, as a distribution channel. He said the company declines more than 90% of partnership opportunities, starts new relationships conservatively and structures incentives around underwriting profitability rather than premium growth. In response to questions about competition among MGAs, Egan said the company sees broader pricing pressure in some markets but remains satisfied with the rate adequacy of many of its programs. He singled out aviation as an area requiring significant rate action following continued loss trends. The company also discussed its IMG business, saying it has diversified products and routes to market over the past three years. Egan said direct-to-consumer distribution now accounts for roughly one-third of IMG’s distribution, compared with a business that had previously relied more heavily on aggregators and brokers. He said World Nomads had not yet contributed to reported results. Separately, SiriusPoint recently launched Fine Art and Crisis Solutions offerings through its London market operations. Egan said the company views the London market as well suited to its specialty underwriting strategy and has been able to recruit experienced talent for niche markets. SiriusPoint recorded its 21st consecutive quarter of favorable prior-year reserve development. McKinney said the result reflected disciplined reserving, prudent reserve setting for new business and protection from loss portfolio transfer structures. Net investment income totaled $66 million in the second quarter and $132 million in the first half. Total investment income was $73 million for the quarter and $151 million for the first half. The investment portfolio carried an average credit quality of double-A-minus, with approximately 99% invested in investment-grade securities, limited private-credit exposure and no fixed-income defaults during the period. The company estimated its Bermuda Solvency Capital Requirement ratio at 239%, reported debt-to-capital of 22.9%, and said it had $1.1 billion of liquidity. SiriusPoint repurchased $95 million of common shares year to date and had $79 million remaining under its authorization. Including a preference share redemption completed in February, total capital returned to shareholders in 2026 reached $295 million. Management said SiriusPoint remains focused on deploying capital across specialty lines where returns are strongest, while maintaining underwriting discipline and balance-sheet flexibility. SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite. On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "SiriusPoint Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SiriusPoint Ltd (NYSE:SPNT) delivered a strong core combined ratio of 91.4% and an operating return on equity of 13.8% for Q2 2026, demonstrating consistent underwriting profitability. The company's insurance and services segment grew gross written premium by 15% in the quarter, driven by attractive areas like accident and health and surety. SiriusPoint Ltd (NYSE:SPNT) reported its 21st consecutive quarter of favorable prior year development, highlighting disciplined reserving and portfolio quality. The company has a strong balance sheet with an estimated DSTR ratio of 239%, robust liquidity of $1.1 billion, and has returned $295 million to shareholders year-to-date. Employee engagement scores improved for the third consecutive year, reaching 83, which management links to strong business performance and a positive culture. SiriusPoint Ltd (NYSE:SPNT) experienced a 10% reduction in earned premium recognition in the quarter due to a shift in portfolio mix towards longer-tail lines, impacting reported results. Reinsurance gross written premium declined 9% as the company intentionally reduced exposure in areas with softening pricing, such as property catastrophe. The property catastrophe reinsurance market continues to face rate pressure, leading to reduced participation and premium volumes in this segment. Aviation remains a challenging line with continued loss trends, requiring significant pricing action in upcoming renewal seasons. Market conditions are becoming more competitive in several lines, including financial and professional lines, and other property, requiring disciplined capital deployment. Warning! GuruFocus has detected 6 Warning Sign with SPNT. Is SPNT fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more detail on the "other property" segment, which you described as mixed? What specific parts of that book are more attractive?A: Scott Egan, CEO: Our property programs in the MGA space are often niche, such as landlords or SME businesses in the UK and Europe. The dynamics in these niche markets are quite different from the broader general property and property catastrophe markets, and we are happy with their performance and rate adequacy. Q: Does the IMG MGA book currently have the diversification you want, or should we expect more deals like Assist America and World Nomads?A: Scott Egan, CEO: We have improved IMG's diversification over the last three years with new products and distribution channels, such as direct-to-consumer. There is nothing imminent, but we would look at bolt-on acquisitions that fit our underwriting skill set and platform, as World Nomads did by building on existing products in new geographies. Q: The margin on the IMG business has ticked up. Is there more room to grow, or is the mid-teens margin a ceiling?A: Scott Egan, CEO: World Nomads is not yet in our numbers. Growing our direct-to-consumer business, which has a higher margin, is a strategic focus. However, this requires marketing investment, so we are considering whether to invest more in our brands to grow that channel, as the economics are attractive. Q: You recently launched Fine Art and Crisis Solutions offerings. Why now, and how do they fit the SiriusPoint model?A: Scott Egan, CEO: The London market fits our specialty strategy. After investing in infrastructure, we are now developing teams and products. These are attractive niche markets where we can make money, and our growing reputation has allowed us to attract top talent in London that we couldn't have three years ago. Q: On the casualty side, where are you most focused regarding reserve adequacysocial inflation, claims severity, or litigation funding?A: Jim McKinney, CFO: We focus on all of them. We are prudent reservers and take a skeptical eye, leaning forward more than the market. Our 21 consecutive quarters of favorable prior year development and our overarching reserving philosophy demonstrate our thoughtful approach. We feel good about the environment and will react if something changes. Q: Assuming a quiet wind season, how would you expect January 1 property reinsurance renewals to develop, and how would further pricing declines shift your capital deployment?A: Scott Egan, CEO: A quiet wind season would likely put further pressure on pricing, continuing the downward trend. However, property cat is only 4% of our portfolio, so it's not a bellwether for the group. We have a well-diversified book and can still drive strong earnings regardless. Jim McKinney, CFO: The trade isn't just between property cat and casualty. We are growing in A&H, surety, and credit, and will deploy capital based on the best risk-adjusted return on capital across all our specialty capabilities. Q: Is elevated MGA price competition showing up in the loss assumptions you build into new business?A: Scott Egan, CEO: MGAs operate in markets, so they aren't protected from pricing pressures. However, customers approach them for deep expertise and are often willing to pay for it. We are happy with rate adequacy across most schemes. The one exception is aviation, where loss trends have continued, requiring significant pricing action in the upcoming major airline renewal season. Jim McKinney, CFO: Our variable commission structures also provide downside protection from a loss ratio perspective. Q: How are you thinking about AI and technology in your operations, given industry peers are leaning into it?A: Scott Egan, CEO: We are doing a lot with AI across the organization, with dozens of use cases in IMG and the wider business for risk understanding, data manipulation, and contracts. We are investing in a framework and infrastructure. While I haven't seen anything that fundamentally shifts the operating model yet, AI can help us be better underwriters and more efficient, which is powerful. Q: You mentioned a slowdown in earned premium growth due to mix changes. Will the pickup be sharp in Q3 or more extended into 2027?A: Jim McKinney, CFO: The pickup will be extended throughout 2026, with incremental increases each quarter. The remaining tail of that earnings extension will come through in the first quarter of 2027, meaning we start that year in a stronger position. Q: Given recent events with AI, does that change how you think about the attractiveness of your cyber business?A: Scott Egan, CEO: Cyber is a very small part of our portfolio. However, it's a risk customers want to insure, and we are very thoughtful and cautious about it. The example you gave is precisely why we are so cautious. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

HAMILTON, Bermuda, July 29, 2026 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT), a specialty underwriter, today announced results for its second quarter ended June 30, 2026. Second Quarter 2026 Highlights Net income available to SiriusPoint common shareholders of $69 million, or $0.58 per diluted common share with operating earnings per share of $0.67 Return on equity of 12.0%, with operating return on equity of 13.8% Core gross written premium increased 6%: Insurance & Services grew 15%, Reinsurance declined 9% Core combined ratio of 91.4% Book value per diluted common share (ex. AOCI) increased 3% from March 31, 2026 to $19.48 Balance sheet remains strong with BSCR estimate of 239% Half Year 2026 Highlights Net income available to SiriusPoint common shareholders of $168 million, up 44% versus prior year Diluted earnings per common share of $1.40, with operating earnings per share up 17% to $1.37 Return on equity of 14.8%, with operating return on equity of 14.7% Insurance & Services gross written premium growth of 11%; continued discipline in Reinsurance with premiums decreasing 9% Core combined ratio of 90.1% improved 2.3 points versus prior year Book value per diluted common share (ex. AOCI) increased 8%, from December 31, 2025 to $19.48 $95 million common shares repurchased year to date(1), marking $295 million of total capital returned in 2026 (1) As at July 28, 2026. Scott Egan, Chief Executive Officer, said: “Our second quarter and half year results are strong and reflect our continuing progress, the strength of our diverse and low-volatility portfolio, and our approach to capital management. “The second quarter Core combined ratio of 91.4% contributes to a half year result of 90.1%, a 2.3 point improvement on prior year. Our half year operating return on equity of 14.7% is at the upper end of our 12-15% across the cycle target range. “Premiums in our Insurance & Services business grew 15% in the second quarter. We have both the capability and agility to target and grow in attractive areas while pulling back where we don’t see adequate returns for the risk we take, as evidenced by our reduction in Reinsurance premiums of 9%. “As a result of underwriting performance and active capital management, book value per share (ex. AOCI) grew by 3% in the quarter and 8% for the half year. While market conditions are becoming more challenging, we are well positioned to maintain our momentum and deliver consistent and sustainable earnings.” Key Financial Metrics The following table shows certain key financial metrics for the three and six months ended June 30, 2026 and 2025 and as of June 30, 2026 and December 31, 2025: Second Quarter and Half Year 2026 Summary Consolidated underwriting income for the three months ended June 30, 2026 was $73.5 million compared to $90.2 million for the three months ended June 30, 2025. The decrease was primarily a result of earned premium growing at a slower pace than written due to a shift in our business mix, and higher acquisition costs, partially offset by a lower attritional loss ratio and increased favorable prior year loss reserve development. Consolidated underwriting income for the six months ended June 30, 2026 was $151.2 million compared to $144.3 million for the six months ended June 30, 2025. The improvement was primarily driven by a decrease in catastrophe losses as the prior period included losses from the California wildfires, partially offset by higher expenses. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance. Reportable Segments The determination of our reportable segments is based on the manner in which management monitors the performance of our operations, which consist of two reportable segments - Insurance & Services and Reinsurance. Collectively, the sum of our two segments, Insurance & Services and Reinsurance, constitute our “Core” results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting.” We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the run off business. The sum of Core results and Corporate results are equal to the consolidated results of operations. Three months ended June 30, 2026 and 2025 Core Premium Volume Gross written premium increased by $51.4 million, or 5.5%, to $981.5 million for the three months ended June 30, 2026 compared to $930.1 million for the three months ended June 30, 2025. Net written premium increased by $9.7 million, or 1.4%, to $709.5 million for the three months ended June 30, 2026 compared to $699.8 million for the three months ended June 30, 2025. Net earned premium decreased by $6.8 million, or 1.1%, to $638.8 million for the three months ended June 30, 2026 compared to $645.6 million for the three months ended June 30, 2025. The increases in written premium were driven by our Insurance & Services segment, including new program growth, mainly in General Liability, as well as continued growth in London MGAs, partially offset by decreases in our Reinsurance segment, primarily in Casualty and Property Catastrophe. The decrease in net earned premium was primarily a result of earned premium growing at a slower pace than written due to a shift in our business mix, as well as a reduction in net earned premium related to the inception of an aggregate reinsurance program in 2026. Core Underwriting Results Core results for the three months ended June 30, 2026 included income of $64.9 million compared to $76.3 million for the three months ended June 30, 2025. Income for the three months ended June 30, 2026 consists of underwriting income of $55.0 million (91.4% combined ratio) and net services income of $9.9 million, compared to underwriting income of $67.6 million (89.5% combined ratio) and net services income of $8.7 million for the three months ended June 30, 2025. The decrease in underwriting income was primarily driven by decreased earned premiums and higher acquisition costs, partially offset by increased favorable prior year loss reserve development. For the three months ended June 30, 2026, favorable prior year loss reserve development was $16.7 million compared to $13.8 million for the three months ended June 30, 2025, primarily driven by favorable development in A&H and Property. The increase in net services income was due to growth in the IMG travel business and the acquisition of Assist America, partially offset by the deconsolidation of Armada. Service margin, which is calculated as Net service fee income as a percentage of services revenues, increased to 16.5% for the three months ended June 30, 2026 from 13.5% for the three months ended June 30, 2025, when adjusted to exclude Armada, driven by the acquisition of Assist America. Six months ended June 30, 2026 and 2025 Core Premium Volume Gross written premium increased by $65.3 million, or 3.4%, to $1,985.3 million for the six months ended June 30, 2026 compared to $1,920.0 million for the six months ended June 30, 2025. Net written premium decreased by $45.5 million, or 3.1%, to $1,406.3 million for the six months ended June 30, 2026 compared to $1,451.8 million for the six months ended June 30, 2025. Net earned premium increased by $5.7 million, or 0.4%, to $1,277.1 million for the six months ended June 30, 2026 compared to $1,271.4 million for the six months ended June 30, 2025. The increases in gross written premium and net earned premium were driven by our Insurance & Services segment, primarily driven by new program growth, mainly in General Liability, as well as continued organic growth in existing programs and growth in A&H, partially offset by decreases in our Reinsurance segment, mainly in Casualty, Property Catastrophe, and Other Specialties. The decrease in net written premium was primarily driven by the decreases in our Reinsurance segment and the ceded premium related to the inception of an aggregate reinsurance program in 2026. Core Underwriting Results Core results for the six months ended June 30, 2026 included income of $144.2 million compared to $123.7 million for the six months ended June 30, 2025. Income for the six months ended June 30, 2026 consists of underwriting income of $125.9 million (90.1% combined ratio) and net services income of $18.3 million, compared to underwriting income of $96.1 million (92.4% combined ratio) and net services income of $27.6 million for the six months ended June 30, 2025. The improvement in net underwriting results was primarily driven by decreased catastrophe losses, partially offset by higher acquisition costs and other underwriting expense. Catastrophe losses were $6.7 million, or 0.5 percentage points on the combined ratio, for the six months ended June 30, 2026, compared to $67.4 million, or 5.3 percentage points on the combined ratio, for the six months ended June 30, 2025, primarily driven by the California wildfires in the prior period. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance. Insurance & Services Segment Three months ended June 30, 2026 and 2025 Insurance & Services gross written premium were $644.6 million for the three months ended June 30, 2026, an increase of $84.2 million, or 15.0%, compared to the three months ended June 30, 2025, primarily driven by new program growth, mainly in General Liability, as well as continued growth in London MGAs. Insurance & Services generated income of $45.3 million for the three months ended June 30, 2026, compared to $48.2 million for the three months ended June 30, 2025. Income for the three months ended June 30, 2026 consists of underwriting income of $35.4 million (90.7% combined ratio) and net services income of $9.9 million, compared to underwriting income of $39.5 million (89.3% combined ratio) and net services income of $8.7 million for the three months ended June 30, 2025. The decrease in underwriting income was primarily a result of earned premium growing at a slower pace than written due to a shift in our business mix, as well as expenses related to incentive compensation award outperformance. Six months ended June 30, 2026 and 2025 Insurance & Services gross written premium were $1,329.2 million for the six months ended June 30, 2026, an increase of $133.7 million, or 11.2%, for the year ended June 30, 2026 compared to the year ended June 30, 2025, primarily driven by new program growth, mainly in General Liability, as well as continued organic growth in existing programs and growth in North America A&H. Insurance & Services generated income of $83.8 million for the six months ended June 30, 2026, compared to $87.2 million for the six months ended June 30, 2025. Income for the six months ended June 30, 2026 consists of underwriting income of $65.5 million (91.4% combined ratio) and net services income of $18.3 million, compared to underwriting income of $59.6 million (91.6% combined ratio) and net services income of $27.6 million for the six months ended June 30, 2025. The improvement in underwriting income was primarily driven by increased favorable prior year loss reserve development, partially offset by increased expenses. For the six months ended June 30, 2026, favorable prior year loss reserve development was $31.2 million compared to $12.2 million for the six months ended June 30, 2025, primarily driven by favorable development in A&H. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance. Reinsurance Segment Three months ended June 30, 2026 and 2025 Reinsurance gross written premium were $336.9 million for the three months ended June 30, 2026, a decrease of $32.8 million, or 8.9%, compared to the three months ended June 30, 2025, primarily driven by deliberate reductions in Casualty and rate and exposure reductions in Property Catastrophe. Reinsurance generated underwriting income of $19.6 million (92.3% combined ratio) for the three months ended June 30, 2026, compared to $28.1 million (89.8% combined ratio) for the three months ended June 30, 2025. The decrease in underwriting income for the three months ended June 30, 2026 compared to the three months ended June 30, 2025 was primarily driven by decreased net earned premiums in Casualty and Property Catastrophe and higher acquisition costs in Property and Other Specialties, partially offset by a lower attritional loss ratio. Six months ended June 30, 2026 and 2025 Reinsurance gross written premium were $656.1 million for the six months ended June 30, 2026, a decrease of $68.4 million, or 9.4%, compared to the six months ended June 30, 2025, primarily driven by deliberate reductions in Casualty, rate and exposure reductions in Property Catastrophe, and reductions in Other Specialties. Reinsurance generated underwriting income of $60.4 million (88.3% combined ratio) for the six months ended June 30, 2026, compared to $36.5 million (93.5% combined ratio) for the six months ended June 30, 2025. The increase in underwriting income was primarily driven by decreased catastrophe losses, as the six months ended June 30, 2025 included losses of $62.6 million, or 11.1 percentage points on the combined ratio, primarily from the California wildfires. This was partially offset by lower favorable prior year loss reserve development of $17.7 million for the six months ended June 30, 2026, compared to $35.9 million for the six months ended June 30, 2025, mainly from reserve releases in Property relating to prior year’s catastrophe events. Investments Three months ended June 30, 2026 and 2025 Net investment income decreased to $65.5 million for the three months ended June 30, 2026 compared to $68.2 million for the three months ended June 30, 2025 driven by sales of investments in the TPOC Portfolio as compared to the prior period, combined with higher expenses related to incentive compensation award outperformance. Net investment gains (losses) increased to $7.9 million for the three months ended June 30, 2026 compared to $0.7 million for the three months ended June 30, 2025 primarily due to gains from fair value changes in the Company's investments managed by related parties, which are included in Other long-term investments. Six months ended June 30, 2026 and 2025 Net investment income decreased to $131.9 million for the six months ended June 30, 2026 compared to $139.4 million for the six months ended June 30, 2025 driven by sales of investments in the TPOC Portfolio as compared to the prior period, combined with higher expenses related to incentive compensation award outperformance. Net investment gains (losses) increased to $19.3 million for the six months ended June 30, 2026 compared to $0.4 million for the six months ended June 30, 2025 primarily due to gains from fair value changes in the Company's investments managed by related parties, as well as gains on private equity funds, both of which are included in Other long-term investments. Webcast Details The Company will hold a webcast to discuss its second quarter 2026 results at 10:30 a.m. Eastern Time on July 30, 2026. The webcast of the conference call will be available over the Internet from the Company’s website at www.siriuspt.com under the “Investor Relations” section. Participants should follow the instructions provided on the website to download and install any necessary audio applications. The conference call will be available by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). Participants should ask for the SiriusPoint Ltd. second quarter 2026 earnings call. The online replay will be available on the Company's website immediately following the call at www.siriuspt.com under the “Investor Relations” section. Safe Harbor Statement Regarding Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “guidance,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. These risks and uncertainties include, but are not limited to, the "Risk Factors" described in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Non-GAAP Financial Measures and Other Financial Metrics In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results, and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, book value per diluted common share excluding accumulated other comprehensive income (loss) ("AOCI"), tangible book value per diluted common share, Operating net income, Core Operating net income, Operating earnings per share, Core Operating earnings per share, Operating ROE and Core Operating ROE are non-GAAP financial measures. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable. About the Company SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators. With approximately $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A from AM Best, S&P and Fitch, and A3 from Moody’s. For more information, please visit www.siriuspt.com. Contacts Investor RelationsLiam Blackledge - Investor Relations and Strategy [email protected]+ 44 203 772 3082 MediaNatalie King - Global Head of Marketing and External [email protected]+ 44 770 728 8817 Non-GAAP Financial Measures Core Results Collectively, the sum of the Company's two segments, Insurance & Services and Reinsurance, constitute "Core" results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the run off business. The sum of Core results and Corporate results are equal to the consolidated results of operations. Core underwriting income - calculated by subtracting loss and loss adjustment expenses incurred, net, acquisition costs, net, and other underwriting expenses from net premiums earned. Core net services income - consists of services revenues which include commissions, brokerage and fee income related to consolidated MGAs, and other revenues, as well as services expenses which include direct expenses related to consolidated MGAs and services noncontrolling income which represent minority ownership interests in consolidated MGAs. Net services income is a key indicator of the profitability of the Company's services provided. Core income - consists of two components, core underwriting income and core net services income. Core income is a key measure of our segment performance. Core combined ratio - calculated by dividing the sum of Core loss and loss adjustment expenses incurred, net, acquisition costs, net and other underwriting expenses by Core net premiums earned. Accident year loss ratio and accident year combined ratio are calculated by excluding prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the Core loss ratio and Core combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount. These ratios are useful indicators of our underwriting profitability. Book Value Per Diluted Common Share Metrics Book value per diluted common share excluding AOCI and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per diluted common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Tangible book value per diluted common share excludes goodwill and intangible assets. Management believes that effects of goodwill and intangible assets make book value comparisons to less acquisitive peer companies less meaningful. The following table sets forth the computation of book value per common share, book value per diluted common share, book value per diluted common share excluding AOCI, and tangible book value per diluted common share as of June 30, 2026 and December 31, 2025: Operating and Core Operating Metrics Operating net income, Core Operating net income, Operating earnings per share and Core Operating earnings per share are non-GAAP financial measures and the most directly comparable U.S. GAAP measures are net income and diluted earnings per share. Operating net income excludes items which we believe are not indicative of the operations of our operating businesses, including realized and unrealized gains (losses) on strategic and other investments and liability-classified capital instruments, non-recurring costs associated with acquisitions or sales of subsidiaries, income (expense) related to loss portfolio transfers, deferred tax assets attributable to the enactment of the Bermuda corporate income tax, development on COVID-19 reserves resulting from the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024, and foreign exchange gains (losses). Core Operating net income also excludes the Corporate (run off) business. We believe it is useful to review Operating net income and Core Operating net income as it better reflects how we view the business, as well as provides investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Operating ROE is calculated by dividing annualized Operating net income for the period by average common shareholders’ equity, excluding AOCI, and after adjusting for the above noted items to arrive at Operating net income. Core Operating ROE also excludes the results of the Corporate (run off) business. The following table sets forth the computation of Operating net income, Core Operating net income, Operating earnings per share and Core Operating earnings per share for the three and six months ended June 30, 2026 and 2025: The following table sets forth the computation of Operating Return on Average Common Shareholders’ Equity for the three and six months ended June 30, 2026 and 2025: The following table sets forth the computation of Core Operating Return on Average Common Shareholders’ Equity for the three and six months ended June 30, 2026 and 2025: Other Financial Measures Annualized Return on Average Common Shareholders’ Equity Attributable to SiriusPoint Common Shareholders Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period. Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders for the three and six months ended June 30, 2026 and 2025 was calculated as follows:

SiriusPoint (SPNT) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +3.08%. A quarter ago, it was expected that this property and casualty reinsurance company would post earnings of $0.65 per share when it actually produced earnings of $0.82, delivering a surprise of +26.15%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. SiriusPoint, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $744.1 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 5.03%. This compares to year-ago revenues of $748.2 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. SiriusPoint shares have added about 20.2% since the beginning of the year versus the S&P 500's gain of 8.5%. While SiriusPoint has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for SiriusPoint was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.57 on $789.77 million in revenues for the coming quarter and $2.57 on $3.14 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Radian (RDN), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This mortgage insurer is expected to post quarterly earnings of $1.38 per share in its upcoming report, which represents a year-over-year change of +36.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Radian's revenues are expected to be $567.7 million, up 82.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SiriusPoint Ltd. (SPNT) : Free Stock Analysis Report Radian Group Inc. (RDN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in SiriusPoint Ltd.? Here are five stocks we like better. SiriusPoint reported a strong first quarter, with a core combined ratio of 88.9% and $71 million of underwriting income, marking its 14th straight quarter of underwriting profitability. Catastrophe losses fell sharply and prior-year reserve development remained favorable, helping drive improved results; management said the company’s growth is shifting more toward insurance and services while pulling back in reinsurance. The company expanded capital returns, increasing its common share buyback plan to the full remaining authorization, while also noting stronger balance-sheet metrics and recent A-rated financial strength upgrades from major agencies. SiriusPoint (NYSE:SPNT) reported a strong start to 2026, with management pointing to improved underwriting profitability, lower catastrophe volatility and continued capital returns during the company’s first-quarter earnings call. Chief Executive Officer Scott Egan said the company delivered a core combined ratio of 88.9%, which he described as the lowest level reported in six quarters. SiriusPoint generated $71 million of underwriting income, marking its 14th consecutive quarter of underwriting profitability. Operating return on equity was 15.3%, at the top end of the company’s 12% to 15% through-the-cycle target range, while GAAP return on equity was 17.4%, reflecting the closure of the Arcadian sale announced last year. → Micron Investors Face a High-Stakes Moment After the Latest Rally “We’ve started the year with a strong first quarter, continuing to build on our performance momentum,” Egan said. “We have delivered strong underwriting profits, disciplined growth, and attractive capital returns.” SiriusPoint reported gross written premium of $1 billion, up 1% year over year. Chief Financial Officer Jim McKinney said net written premium declined 7%, driven by a pre-announced aggregate cover and a one-time surety item in the prior year. Net earned premium increased 2%, as growth in insurance and services more than offset a deliberate pullback in reinsurance. → How Bad Could Tesla’s Cybertruck Recall Be for Shares? Egan said insurance and services gross written premium increased 8%, supported by specialty lines and a 9% increase in accident and health. Reinsurance gross written premium declined 10%, reflecting the company’s discipline in areas such as property catastrophe, where Egan said some risks did not offer adequate returns. Management said first-quarter premium comparisons were affected by one-time items, including prior-year reinstatement premiums and a surety item. Adjusting for those effects, Egan said both gross and net written premiums grew about 4% year over year. → Reading the Stripes: Is The Industrial Recession Over? For the full year, SiriusPoint expects overall gross written premium growth of 5% to 10%, with stronger growth in insurance and services. Egan said growth is expected to be more weighted toward the second half of the year as the business mix continues to shift from reinsurance toward insurance. McKinney said SiriusPoint’s core combined ratio improved 6.5 points to 88.9%, driven primarily by lower catastrophe activity and continued improvement in attritional loss performance, despite a 1.2-point mix headwind. Operating net income was $86 million, or $0.70 per diluted share, up 37% from the prior year. In reinsurance, the combined ratio improved to 84.2%, helped by lower catastrophe losses. In insurance and services, the combined ratio improved to 92%, while the ex-catastrophe combined ratio improved by just over half a point, according to Egan. McKinney said catastrophe losses were $63 million lower than a year earlier and represented 0.8 points on the combined ratio, compared with 10.9 points in the first quarter of last year. Property catastrophe reinsurance now represents about 4% of the portfolio, and gross written premium in that line declined 31% amid lower reinstatement premiums and a deliberate pullback. Management also highlighted favorable reserve development. SiriusPoint reported $32 million of favorable prior-year development within core results and $18 million on a consolidated basis, marking 20 consecutive quarters of favorable development. SiriusPoint said its balance sheet remains a strength. Egan said the company’s BSCR ratio was 242% in the first quarter, even after redeeming $200 million of preference shares. The company has also bought back more than $40 million of common shares in 2026. Management announced that SiriusPoint is increasing its common share buyback intention from the previously announced $100 million to the full remaining amount under its existing authorization, or $174 million. Egan later said that, as of the call, about $135 million remained available under that authorization. Book value per diluted share excluding accumulated other comprehensive income increased 5% sequentially to $18.98. McKinney said liquidity increased to more than $1 billion, supported by upstream dividends and holding company investments. Debt-to-capital declined to 22.8%, which he said was the lowest level in several years. Egan also noted that S&P, AM Best and Fitch upgraded SiriusPoint’s financial strength ratings to A over the past three months, citing consistent earnings and balance sheet strength. During the question-and-answer portion, analysts pressed management on growth in general liability and the company’s reliance on managing general agents. Egan said SiriusPoint remains alert to intensifying competition in general liability, especially as the excess and surplus market expands, but said the company is not pursuing broad, undifferentiated growth. “There’s no such thing as big banner general headlines,” Egan said. “There are areas, pockets, and one of the advantages of the MGA distribution strategy is we believe we get access to niche business, niche markets.” McKinney added that SiriusPoint is focused on specialty risks and works with partners that have expertise in specific areas, rather than pursuing commoditized products. Egan said the company evaluates many potential MGA partners but selects fewer than 10%, with onboarding typically taking six to nine months. He said there are no volume incentives in the company’s MGA relationships, and almost 90% of partners have incentives linked to underwriting profits. Asked about higher acquisition costs in insurance and services, Egan said stronger partner performance and favorable prior-year development can lead to higher profit commission accruals for MGA partners. He emphasized that these are mostly accruals rather than cash payments and said many agreements include carry-forward features allowing profits and losses to offset across accident years. Management described market conditions as varied across business lines. McKinney said accident and health remains SiriusPoint’s largest line at about 28% of premium mix and continues to perform well, with growth in travel and U.S. medical. He said employer stop-loss has been challenged for several years, but the market is showing early signs of hardening. General liability conditions were described as mixed, with competition increasing and some selective softening in terms and conditions. Financial and professional lines remain competitive, particularly directors and officers and professional lines, while auto remains challenged by loss cost inflation running ahead of rate. In smaller specialty lines, Egan said aviation pricing improved during fourth-quarter renewals, though he said the market still needs more rate. Marine and energy conditions are mixed, with marine softening quickly, particularly in the London market. McKinney said credit remains well-priced, including areas such as trade credit, political risk and international mortgage. Management also discussed the company’s London Market Specialty division, with Egan describing it as part of a strategic journey rather than a new business. He said SiriusPoint had completed remediation work in its Lloyd’s syndicate and managing agent operations and had moved from fourth-quartile to second-quartile syndicate performance over three years. “We are feeling in a very good position for the rest of the year,” Egan said in closing remarks, citing continued momentum across the business. SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite. On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "SiriusPoint Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

This article first appeared on GuruFocus. Core Combined Ratio: 88.9%, lowest in six quarters. Insurance & Services Gross Written Premiums: Increased by 8%. Operating Return on Equity: 15.3%. GAAP Return on Equity: 17.4%. BSCR Ratio: 242% for the first quarter. Book Value Per Share: Increased by 5%. Gross Written Premium: $1 billion, up 1% year-over-year. Net Written Premium: Declined 7%. Net Earned Premium: Increased 2%. Underwriting Income: $71 million, a 149% increase year-over-year. Operating Net Income: $86 million or $0.70 per diluted share, up 37% year-over-year. Net Service Fee Income: $8 million with service revenues at $54 million at a 14.6% margin. Net Investment Income: $66 million. Accident & Health Premiums: Grew 9% year-over-year. Property Catastrophe Reinsurance Rate Declines: About 15%. Favorable Prior Year Development: $32 million within core and $18 million consolidated. Debt to Capital: Decreased to 22.8%. Warning! GuruFocus has detected 5 Warning Sign with SPNT. Is SPNT fairly valued? Test your thesis with our free DCF calculator. Release Date: May 08, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SiriusPoint Ltd (NYSE:SPNT) reported a strong core combined ratio of 88.9%, the lowest in six quarters, indicating improved underwriting performance. The company achieved an operating return on equity of 15.3%, placing it at the top end of its 12% to 15% target range. Financial strength ratings were upgraded to A by S&P, Fitch, and AM Best, reflecting consistent earnings and balance sheet strength. Gross written premiums in Insurance & Services grew by 8%, driven by strong performance in specialty lines such as Accident & Health. SiriusPoint Ltd (NYSE:SPNT) returned over $240 million of capital to shareholders, including the redemption of $200 million of preference shares and buyback of over $40 million of common shares. Reinsurance gross written premium declined by 10% due to disciplined underwriting in areas like property catastrophe where risks did not offer adequate returns. Net written premium decreased by 7%, influenced by preannounced aggregate cover and a one-time Surety item from the prior year. The company faces challenges in the Employer Stop Loss line, which has been flat since 2021, although the market is showing early signs of hardening. Marine and energy market conditions are mixed, with competitive pressure in marine, particularly cargo and hull. Aviation remains cautious, with major airline pricing needing improvement, and the company continues to reduce exposure where returns do not meet criteria. Q: Can you elaborate on the growth in general liability, given concerns about intensifying competition in this area? A: Scott Egan, CEO, explained that while competition in general liability (GL) is intensifying, particularly as the E&S market expands, SiriusPoint remains disciplined. They are focused on niche markets and maintain strict return thresholds. The company is confident in its MGA partnerships, which provide access to specialized markets, and they are prepared to move capital if pricing does not match the risk. Q: Should we expect higher acquisition costs to continue due to strong profitability in the insurance segment? A: Scott Egan, CEO, noted that acquisition costs may vary depending on relationships and prior year developments. While higher profitability can lead to increased profit share accruals, these are accruals and not cash payments. The company is focused on maintaining strong ROE and will continue to manage acquisition costs strategically. Q: What is the strategy behind the new focus on the London Market specialty division, and when might we see its impact? A: Scott Egan, CEO, stated that the London Market specialty division is part of a strategic journey to improve underwriting and processes. The company has moved from fourth to second quartile performance in Lloyd's syndicate rankings. The focus on the London Market is due to its size and strategic importance, and while immediate impacts may not be visible, the company is committed to leveraging this market for growth. Q: How does SiriusPoint view opportunities in high-volatility markets like political violence and terrorism (PVT)? A: Scott Egan, CEO, acknowledged that while SiriusPoint aims for a low-volatility portfolio, they are open to taking on higher volatility risks like PVT if the pricing is attractive. The company manages overall portfolio volatility through reinsurance and retro protection, allowing them to capitalize on high-volatility opportunities without compromising their low-volatility strategy. Q: With the focus on returning capital to shareholders, are share buybacks the main avenue, and is there potential for dividends in the future? A: Scott Egan, CEO, indicated that while share buybacks are currently a primary method of returning capital, the company is open to other options like dividends or special dividends in the future. Decisions will be based on market conditions, investment opportunities, and shareholder interests. For the complete transcript of the earnings call, please refer to the full earnings call transcript.