HAMILTON, Bermuda, Feb. 18, 2025 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) today announced results for its fourth quarter ended December 31, 2024 Combined ratio of 90.2% in the fourth quarter for Core business, representing a 3.2 point improvement versus prior year, resulting in a full year 2024 Core combined ratio of 91.0% and Core underwriting income of $200 millionGrowth in the quarter of 21% on gross premiums written for continuing lines business (excluding 2023 e ...

Core Viewpoint - SiriusPoint Ltd. is set to release its fourth quarter and full year 2024 financial results on February 18, 2025, after market close, followed by a conference call on February 19, 2025, at 8:30 am Eastern Time [1]. Company Information - SiriusPoint is a global underwriter of insurance and reinsurance, headquartered in Bermuda, with additional offices in New York, London, and Stockholm [4]. - The company has over $2.7 billion in total capital and holds a financial strength rating of A- (Excellent) from AM Best, S&P, and Fitch, as well as A3 from Moody's [4]. - SiriusPoint offers Property & Casualty and Accident & Health insurance and reinsurance globally, supported by strategic partnerships with Managing General Agents and Program Administrators [4]. Conference Call Details - The conference call can be accessed domestically at 1-877-451-6152 and internationally at 1-201-389-0879, with a replay available until March 5, 2025 [3]. - The live conference call will be available via the Investor Relations section of the company's website, with an online replay immediately following the call [2].

Transaction Details - The company has agreed to repurchase 45.7 million common shares at $14.25 per share and 21 million warrants at $3.56 per warrant [6] - The total purchase price for the repurchase of shares and warrants is $733 million [5] - The payment will be made in two tranches: $250 million today and $483 million by February 28, 2025 [3] Financial Impact - The transaction is expected to be accretive to earnings per share, return on equity, and book value per share [1] - The company's proforma Bermuda Solvency Capital Ratio remains strong at 218% after the payments [8] - As of September 30, 2024, the diluted book value per common share was $14.73, and the 30-day volume-weighted average common share price was $15.16 as of December 27, 2024 [6] Strategic Implications - The transaction positions the company well for the future and is focused on driving further value creation for shareholders [1] - Following the transaction, CM Bermuda will have no remaining ownership interest in the company and will cease to have any representation on the board of directors [3] - The company's financial position, driven by strengthening profitability and performance, has enabled the execution of this transaction [9] Company Overview - The company is a global underwriter of insurance and reinsurance with headquarters in Bermuda and offices in New York, London, and Stockholm [4] - It has licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally [4] - The company has over $3.0 billion in total capital and holds financial strength ratings of A- (Excellent) from AM Best, S&P, and Fitch, and A3 from Moody's [4] Transaction Advisors - BofA Securities, Inc acted as the financial advisor for the transaction [10] - Skadden, Arps, Slate, Meagher & Flom LLP provided legal counsel for the transaction [10]

HAMILTON, Bermuda, Nov. 11, 2024 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint”) (NYSE: SPNT), a global specialty insurer and reinsurer, has today announced changes to its Chief Underwriting Office leadership to support plans for further growth and profitability in 2025. From January 1, 2025, Anthony Shapella will be promoted into the role of Group Chief Underwriting Officer and will join the Executive Leadership Team. David Govrin will now focus entirely on his role as Group President and Chief Execut ...

SiriusPoint Ltd. (NYSE:SPNT) Q3 2024 Earnings Conference Call November 1, 2024 8:30 AM ET Company Participants Liam Blackledge - Investor Relations and Strategy Scott Egan - Chief Executive Officer James McKinney - Chief Financial Officer Conference Call Participants Operator Good morning, ladies and gentlemen and welcome to SiriusPoint's Third Quarter 2024 Earnings Conference Call. During today’s presentation all parties will be in a listen-only mode. As a reminder, this conference call is being recorded, ...

SIRIUSPOINT LTD. – A GLOBAL UNDERWRITER 2024 Nine Months and Third Quarter Results October 31, 2024 Disclaimer Basis of Presentation and Non-GAAP Financial Measures: Unless the context otherwise indicates or requires, as used in this presentation references to "we," "our," "us," the "Company," and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclus ...

Financial Transactions - SiriusPoint paid a total consideration of $261.3 million to CM Bermuda Limited upon closing the transactions under the CMIG Agreement, which included a share repurchase of 9,077,705 common shares for approximately $125.0 million [219]. - In April 2024, SiriusPoint issued $400.0 million aggregate principal amount of 7.0% Senior Notes due 2029, and redeemed all remaining outstanding $400.0 million of 2016 Senior Notes and $115.0 million of 2015 Senior Notes [224]. - The company reported a loss on settlement and change in fair value of liability classified instruments of $122.6 million for the nine months ended September 30, 2024, compared to $44.4 million for the same period in 2023 [256]. - The company had $1,205.5 million of letters of credit issued as of September 30, 2024, in compliance with all covenants [347]. Loss Portfolio Transfer - The Loss Portfolio Transfer Reinsurance Agreement covers approximately $400 million of SiriusPoint reserves, including liabilities to be commuted, valued as of December 31, 2023 [222]. - SiriusPoint expects to recognize a loss of approximately $22.0 million from the financial impacts of the Loss Portfolio Transfer transaction in the fourth quarter results [223]. Ratings and Financial Strength - Moody's assigned a new financial strength rating of A3, stable, to SiriusPoint's operating companies on March 19, 2024 [225]. - The Company’s Bermuda Solvency Capital Requirement (BSCR) ratio improved to an estimated 265% for the third quarter of 2024, up from 255% in 2023 [334]. Investment Strategy and Performance - SiriusPoint's investment strategy focuses on optimizing risk-adjusted after-tax net investment income while maintaining a high-quality, diversified investment portfolio [216]. - The average credit rating of the investment portfolio remained at AA as of September 30, 2024, with no defaults reported [242]. - Total net investment income and realized and unrealized investment gains for the three months ended September 30, 2024 was $92.5 million, compared to $68.1 million for the same period in 2023, representing a 36.1% increase [247]. - Gross investment income for the three months ended September 30, 2024 was $85.1 million, up from $79.1 million in the same period of 2023, reflecting a 7.6% increase [245]. Underwriting Performance - The combined ratio for the three months ended September 30, 2024, improved to 84.4% from 88.0% in the same period of 2023 [226]. - Core underwriting income for the three months ended September 30, 2024, was $62.5 million, up from $42.5 million year-over-year [226]. - Total underwriting income for the three months ended September 30, 2024, was $89.0 million, compared to $73.8 million in the same period of 2023, reflecting a $15.2 million increase [236]. - The loss ratio for the nine months ended September 30, 2024 was 52.1% compared to 56.7% for the same period in 2023 [288]. - The combined ratio for the nine months ended September 30, 2024 was 86.3% compared to 87.6% for the same period in 2023 [288]. Premiums and Revenue - Gross premiums written decreased by $35.0 million, or 4.8%, for the three months ended September 30, 2024 compared to the same period in 2023 [278]. - Net premiums written decreased by $30.0 million, or 5.6%, for the three months ended September 30, 2024 compared to the same period in 2023 [278]. - Net premiums earned decreased by $29.0 million, or 5.0%, for the three months ended September 30, 2024 compared to the same period in 2023 [278]. - Services revenues decreased to $48.1 million for the three months ended September 30, 2024, down from $58.6 million for the same period in 2023 [280]. - Services revenues decreased to $171.3 million for the nine months ended September 30, 2024 compared to $181.8 million for the same period in 2023 [289]. Financial Position - Total invested assets and cash decreased to $6,863.1 million as of September 30, 2024, from $7,178.9 million at the end of 2023 [240]. - Cash and cash equivalents decreased by $286.1 million to $815.2 million as of September 30, 2024, compared to $1,101.3 million at the beginning of the period [355]. - Total debt decreased to $660.5 million as of September 30, 2024, down from $786.2 million as of December 31, 2023 [339]. - As of September 30, 2024, total shareholders' equity increased to $2,696.5 million, up from $2,530.6 million as of December 31, 2023, driven by net income of $205.2 million [359]. Catastrophe Losses - Catastrophe losses for the three months ended September 30, 2024 were $10.6 million, or 1.9 percentage points on the combined ratio, compared to $6.7 million, or 1.2 percentage points, for the same period in 2023 [279]. - Catastrophe losses for the three months ended September 30, 2024 were $11.3 million, contributing 4.2 percentage points to the combined ratio, compared to $6.8 million and 2.6 percentage points in the same period in 2023 [296]. Dividends - SiriusPoint declared and paid dividends of $4.0 million and $12.0 million to Series B preference shareholders for the three and nine months ended September 30, 2024, consistent with the previous year [331]. - For the nine months ended September 30, 2024, the company declared and paid dividends of $12.0 million to Series B preference shareholders [345].

SiriusPoint Ltd. Financial Supplement September 30, 2024 (UNAUDITED) This financial supplement is for informational purposes only. It should be read in conjunction with documents filed with the Securities and Exchange Commission by SiriusPoint Ltd., including the Company's Quarterly Report on Form 10-Q. Point Building Liam Blackledge - Senior Associate, Investor Relations and Strategy 3 Waterloo Lane Tel: + 44 203 772 3082 Pembroke HM 08 Email: investor.relations@siriuspt.com Bermuda Website: www.siriuspt.c ...

HAMILTON, Bermuda, Oct. 31, 2024 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) today announced results for its third quarter ended September 30, 2024 Third quarter net income of $5 million, impacted by completion of the previously announced CMIG shareholder transaction. Underlying net income1 of $89 million, up 69% versus prior year driven by higher underwriting and investment incomeCombined ratio of 88.5% in the third quarter for Core business, representing a 4 point imp ...

HAMILTON, Bermuda, Oct. 17, 2024 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (NYSE: SPNT) ("SiriusPoint" or the "Company") today announced that it is planning to release its third quarter 2024 financial results after the market close on Thursday, October 31, 2024. The Company will also hold a webcast, which can be accessed as a conference call, to discuss its financial results at 8:30 am (Eastern Time) on Friday, November 1, 2024. The webcast of the live conference call can be accessed by logging onto the Investor ...