19. Earnings per share available to SiriusPoint common shareholders
The following sets forth the computation of basic and diluted earnings per share available to SiriusPoint common shareholders for the years ended December 31, 2025, 2024 and 2023:
202520242023
Weighted-average number of common shares outstanding:($ in millions, except share and per share amounts)
Basic number of common shares outstanding116,507,940 166,537,394 163,341,448 
Dilutive effect of restricted share awards and units3,921,841 1,877,371 3,176,462 
Dilutive effect of options1,218,269 1,055,916 595,908 
Dilutive effect of warrants— — 899,249 
Dilutive effect of Series A preference shares— — 1,594,281 
Diluted number of common shares outstanding121,648,050 169,470,681 169,607,348 
Basic earnings per common share:
Net income available to SiriusPoint common shareholders$443.6 $183.9 $338.8 
Net income allocated to SiriusPoint participating common shareholders(0.3)(7.7)(24.3)
Net income allocated to SiriusPoint common shareholders$443.3 $176.2 $314.5 
Basic earnings per share available to SiriusPoint common shareholders$3.80 $1.06 $1.93 
Diluted earnings per common share:
Net income available to SiriusPoint common shareholders$443.6 $183.9 $338.8 
Net income allocated to SiriusPoint participating common shareholders(0.3)(7.7)(24.3)
Net income allocated to SiriusPoint common shareholders$443.3 $176.2 $314.5 
Diluted earnings per share available to SiriusPoint common shareholders$3.64 $1.04 $1.85 
For the year ended December 31, 2025, anti-dilutive restricted share units of 6,392 were excluded from the computation of diluted earnings per share available to SiriusPoint common shareholders. For the year ended December 31, 2024 anti-dilutive restricted share units of 14,741 were excluded from the computation of diluted earnings per share available to SiriusPoint common shareholders. For the year ended December 31, 2023, anti-dilutive options of 2,697,116, warrants of 26,013,599, and restricted share units of 75,154 were excluded from the computation of diluted earnings per share available to SiriusPoint common shareholders.

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 21, 2025
2023Feb 29, 2024
2022Feb 24, 2023
2021Mar 1, 2022

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.