SiriusPoint Ltd

Listed Company

SPNTCIK 0001576018NYSELarge AcceleratedFire, Marine & Casualty InsuranceD0FY ends Dec 31

Period

FY 2025

Revenue

$3.21B

Net Income

$459.60M

Total Assets

$12.57B

Equity

$2.47B

Shares Out

116.99M

Op. Cash Flow

$102.40M

Business

SiriusPoint Ltd provides insurance and reinsurance solutions, underwriting a broad range of property, casualty, specialty and accident & health risks and sponsoring a Lloyd’s syndicate. It offers reinsurance treaties and facultative reinsurance, primary insurance written through MGA relationships, retrocessional cover, and related risk management and services through an Insurance & Services business. The company operates through underwriting and investment-related segments, including strategic investments managed in part by third‑party asset managers. SiriusPoint distributes products globally via brokers, MGAs and direct relationships across multiple jurisdictions.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net earned premium	2,594	2,344	2,426	2,318	1,717
Net investment income	275	304	284	113	25
Net realized and unrealized investment losses	−3	−79	−11	−226	−17
Net investment income and net realized and unrealized investment losses	272	225	273	−323	313
Other revenues	339	184	98	83	151
Loss on settlement and change in fair value of liability-classified capital instruments	0	−149	−59	27	—
Total revenues	3,205	2,604	2,737	2,106	2,181
Loss and loss adjustment expenses incurred, net	1,520	1,369	1,381	1,588	1,327
Acquisition costs, net	584	517	473	462	388
Other underwriting expenses	188	182	196	185	159
Net corporate and other expenses	257	232	258	313	267
Intangible asset amortization	11	12	11	8	6
Interest expense	80	70	64	39	34
Foreign exchange (gains) losses	25	−10	35	−66	−44
Total expenses	2,664	2,371	2,419	2,528	2,136
Income before income tax (expense) benefit	541	233	319	−423	45
Income tax (expense) benefit	−81	−31	45	37	11
Net income	460	202	364	−386	56
Net income attributable to noncontrolling interests	−500,000	−3	−9	−800,000	2
Net income available to SiriusPoint	460	200	355	−387	58
Dividends on Series B preference shares	−16	−16	−16	−16	−14
Net income available to SiriusPoint common shareholders, basic	444	184	339	−403	45
Net income available to SiriusPoint common shareholders, diluted	444	184	339	−403	45
Basic earnings per share available to SiriusPoint common shareholders (in dollars per share)	3.8	1.06	1.93	−2.51	0.28
Diluted earnings per share available to SiriusPoint common shareholders (in dollars per share)	3.64	1.04	1.85	−2.51	0.27
Basic (in shares)	117	167	163	160	149
Diluted (in shares)	122	169	170	160	150

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Debt securities, available for sale, at fair value, net of allowance for credit losses of $0.0 (2024 - $1.1) (cost - $5,118.3; 2024 - $5,143.8)	5,169	5,131	4,755	2,636	0
Debt securities, trading, at fair value (cost - $114.6; 2024 - $187.3)	90	162	535	1,526	2,086
Short-term investments, at fair value (cost - $28.4; 2024 - $95.3)	28	96	372	985	1,076
Other long-term investments, at fair value (cost - $421.9; 2024 - $438.2) (includes related party investments at fair value of $216.1 (2024 - $217.2)	315	317	310	377	456
Total investments	5,602	5,706	6,078	5,654	4,530
Cash and cash equivalents	731	682	969	705	1,000
Restricted cash and cash equivalents	171	213	132	208	949
Due from brokers	8	11	6	5	16
Interest and dividends receivable	47	44	42	27	8
Insurance and reinsurance balances receivable, net	2,260	2,054	1,966	1,877	1,708
Deferred acquisition costs, net	384	328	309	295	219
Unearned premiums ceded	487	464	449	349	243
Loss and loss adjustment expenses recoverable, net	2,102	2,315	2,295	1,376	1,215
Deferred tax asset	268	297	294	200	182
Intangible assets	121	141	153	164	172
Other assets	272	271	176	158	127
Assets held for sale	115	0	—	—	—
Total assets	12,570	12,525	12,872	11,036	10,618
Loss and loss adjustment expense reserves	5,783	5,654	5,608	5,269	4,841
Unearned premium reserves	1,855	1,639	1,627	1,521	1,198
Reinsurance balances payable	1,448	1,782	1,737	814	688
Deferred gain on retroactive reinsurance	0	9	28	0	—
Debt	689	639	786	778	817
Due to brokers	6	18	6	0	7
Deferred tax liability	73	76	69	60	95
Share repurchase liability	0	483	0	—	—
Other liabilities	246	287	—	—	—
Total liabilities	10,099	10,586	10,341	8,954	8,115
Commitments and contingent liabilities (refer to Note 21)	—	—	—	—	—
Common shares (issued and outstanding: 116,989,799; 2024 - 116,429,057)	12	12	17	16	16
Additional paid-in capital	968	945	1,693	1,641	1,623
Retained earnings	1,229	785	601	262	665
Accumulated other comprehensive income (loss), net of tax	62	−4	3	−45	−200,000
Shareholders equity attributable to SiriusPoint shareholders	2,470	1,937	2,514	2,075	2,504
Noncontrolling interests	1	1	17	8	−400,000
Total shareholders equity	2,471	1,939	2,531	2,083	2,503
Total liabilities, noncontrolling interests and shareholders equity	12,570	12,525	12,872	11,036	10,618

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Share compensation	36	21	21	31	11
Net realized and unrealized loss on investments and derivatives	3	79	7	208	3
Change in fair value of liability-classified capital instruments	0	32	59	−27	—
Gain from sale of consolidated subsidiary	−222	0	0	—	—
Amortization of premium and accretion of discount, net	−35	−61	−67	−17	10
Other items, net	50	−42	24	−28	−17
Insurance and reinsurance balances receivable, net	−207	−88	−84	−165	−48
Deferred acquisition costs, net	−57	−19	−14	−76	−2
Unearned premiums ceded	−24	−15	−100	−106	−33
Loss and loss adjustment expenses recoverable, net	213	−20	−919	−161	−390
Deferred tax asset/liability	22	11	−84	−54	−45
Other assets	−25	−110	−29	−37	35
Interest and dividends receivable	−3	−2	−16	−18	600,000
Loss and loss adjustment expense reserves	129	46	339	427	615
Unearned premium reserves	216	12	106	323	14
Deferred gain on retroactive reinsurance	−9	−19	28	0	0
Reinsurance balances payable	−334	45	924	125	223
Other liabilities	−7	−9	12	—	—
Held for sale asset	−115	0	0	—	—
Net cash provided by operating activities	102	75	581	293	2
Purchases of debt securities, available-for-sale	−2,254	−2,271	−3,579	−2,811	—
Purchases of short-term investments	−123	−433	−1,377	−2,803	—
Purchases of other investments	−23	−29	−6	−71	—
Proceeds from sales and maturities of debt securities, available-for-sale	2,356	1,921	1,517	243	—
Proceeds from sales and maturities of debt securities, trading and short-term investments	240	1,084	3,026	4,121	—
Proceeds from sales and maturities of other investments	13	64	82	864	—
Change in due to/from brokers, net	−9	6	6	5	78
Proceeds from sale of consolidated subsidiary, net of cash sold	225	0	0	—	—
Net cash provided by investing activities	424	344	−332	−1,304	209
Taxes paid on withholding shares	−6	−10	−12	−7	−500,000
Repayment of loans under an agreement to repurchase	0	0	−18	18	0
Cash dividends paid to preference shareholders	−16	−16	−16	−16	−12
Payment of redemption of debt	0	−518	0	0	—
Proceeds from issuance of debt, net of costs	0	394	0	0	—
Settlement of liability-classified capital instruments	0	−99	−39	0	0
Net proceeds from exercise of options	900,000	18	28	0	0
Net payments on deposit liability contracts	−6	−94	−6	−14	−14
Purchases of SiriusPoint common shares under share repurchase program	−491	−300	0	−5	0
Change in total noncontrolling interests, net	−800,000	−300,000	800,000	—	—
Net cash used in financing activities	−519	−625	−62	−24	24
Net increase (decrease) in cash, cash equivalents and restricted cash	8	−207	188	−1,035	235
Interest paid in cash	78	66	46	39	39
Income taxes paid in cash	82	51	50	−2	15

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