UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36052 SIRIUSPOINT LTD. (Exact name of registrant as specified in its charter) Bermuda 98-1599372 (State or other ...

SiriusPoint Ltd. (NYSE:SPNT) Q1 2024 Earnings Conference Call May 1, 2024 8:30 AM ET Company Participants Dhruv Gahlaut - Head of Investor Relations and Chief Strategy Officer Scott Egan - Chief Executive Officer Steve Yendall - Chief Financial Officer Operator Good morning, ladies and gentlemen, and welcome to SiriusPoint's First 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 and a replay i ...

SiriusPoint Ltd. Financial Supplement March 31, 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 Dhruv Gahlaut - Head of Investor Relations and Chief Strategy Officer 3 Waterloo Lane Tel: (044) 20 3772 3111 Pembroke HM 08 Email: investor.relations@siriuspt.com Bermuda Website: www.siriuspt.co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 For the transition period from to Commission File Number 001-36052 SIRIUSPOINT LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Point Building 3 Waterloo Lane +1 (441) 542-3300 Pembroke, B ...

• As a percentage of tangible common shareholders' equity4: • Below investment grade / non-rated represents 3% (vs. Q3'23: 7%) • Overall asset duration increased to ~2.8 years up from ~2.7 years at Q3'23 (~1.8 years at Q4'22) Notes: [1] Other includes Strategics, TP Ventures and Legacy & Other Alts. [2] Third Point Enhanced Fund. [3] Excludes short-term investments. [4] Tangible diluted common shareholders' equity attributable to SiriusPoint common shareholders. [5] Total asset leverage calculated as sum of ...

SiriusPoint Ltd. (NYSE:SPNT) Q4 2023 Earnings Conference Call February 21, 2024 8:30 AM ET Company Participants Sarah Singh - VP, IR Scott Egan - CEO Steve Yendall - CFO Conference Call Participants Operator Good morning, ladies and gentlemen, and welcome to the SiriusPoint Limited Fourth Quarter and Full Year 2023 Financial Results Conference Call. During today's presentation, all parties will be in listen only mode. As a reminder, this conference call is being recorded and a replay is available through 11 ...

SiriusPoint Ltd. Financial Supplement December 31, 2023 (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 Annual Report on Form 10-K. Point Building Dhruv Gahlaut - Head of Investor Relations and Chief Strategy Officer 3 Waterloo Lane Tel: (044) 20 3772 3111 Pembroke HM 08 Email: investor.relations@siriuspt.com Bermuda Website: www.siriuspt.co ...

SIRIUSPOINT LTD. – A GLOBAL UNDERWRITER 2023 Nine Months and Third Quarter Results Disclaimer 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. exclusive of its subsidiaries. We have made rounding adjustments to reach some ...

SiriusPoint Ltd. (NYSE:SPNT) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET Company Participants Dhruv Gahlaut - Head, Investor Relations and Chief Strategy Officer Scott Egan - Chief Executive Officer Steve Yendall - Chief Financial Officer Operator Good morning, ladies and gentlemen and welcome to the SiriusPoint Limited Third Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the call over to Dhruv Gahlaut, Head of ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents SiriusPoint Ltd.'s unaudited consolidated financial statements for Q3 and 9M 2023, covering balance sheets, income, and cash flows [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheets | Balance Sheet Items | Sep 30, 2023 ($M) | Dec 31, 2022 ($M) | | :--- | :--- | :--- | | **Total Investments** | 6,026.0 | 5,653.7 | | **Total Assets** | 12,591.2 | 11,036.3 | | **Loss and loss adjustment expense reserves** | 5,448.8 | 5,268.7 | | **Total Liabilities** | 10,325.8 | 8,953.7 | | **Total Shareholders' Equity** | 2,265.4 | 2,082.6 | - Total assets increased to **$12.6 billion** from **$11.0 billion**, primarily driven by a rise in 'Loss and loss adjustment expenses recoverable' and 'Debt securities, available for sale'[9](index=9&type=chunk) - Total liabilities grew to **$10.3 billion** from **$9.0 billion**, largely due to a significant increase in 'Reinsurance balances payable' from **$813.6 million** to **$1,733.4 million**[9](index=9&type=chunk) [Consolidated Statements of Income (Loss)](index=4&type=section&id=Consolidated%20Statements%20of%20Income%20(Loss)) Consolidated Statements of Income (Loss) | Income Statement Highlights | Q3 2023 ($M) | Q3 2022 ($M) | 9M 2023 ($M) | 9M 2022 ($M) | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | 702.6 | 597.5 | 2,091.5 | 1,432.0 | | **Total Expenses** | 623.5 | 690.2 | 1,770.9 | 1,812.1 | | **Net Income (Loss)** | 63.8 | (93.6) | 264.0 | (363.0) | | **Net Income (Loss) available to Common Shareholders** | 57.5 | (98.4) | 245.3 | (376.2) | | **Diluted EPS ($)** | 0.32 | (0.61) | 1.36 | (2.35) | - The company reported a significant turnaround, with a net income of **$63.8 million** in Q3 2023 compared to a net loss of **$93.6 million** in Q3 2022, driven by lower loss expenses and positive investment results[12](index=12&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Statements of Cash Flows | Cash Flow Activity (Nine Months Ended Sep 30) | 2023 ($M) | 2022 ($M) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | 367.9 | 245.3 | | **Net cash used in investing activities** | (395.3) | (1,363.9) | | **Net cash used in financing activities** | (75.1) | (18.3) | | **Net decrease in cash, cash equivalents and restricted cash** | (102.5) | (1,136.9) | - Net cash from operating activities increased to **$367.9 million** for the first nine months of 2023, up from **$245.3 million** in the prior year period, influenced by an increase in 'Reinsurance balances payable' and a decrease in 'Loss and loss adjustment expenses recoverable'[20](index=20&type=chunk) [Notes to the Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Detailed notes cover accounting policies, a Loss Portfolio Transfer, segment performance, and revisions to interim financial statements - On March 2, 2023, the company entered into a Loss Portfolio Transfer (LPT) transaction, ceding estimated loss reserves of **$1.3 billion** (as of Sep 30, 2022), which were reduced to **$905.6 million** at closing, resulting in a funds held payable of **$862.5 million** and an estimated deferred gain of **$25.8 million** as of September 30, 2023[30](index=30&type=chunk)[31](index=31&type=chunk) - For the nine months ended September 30, 2023, the company recorded **$163.1 million** of net favorable prior year loss reserve development, primarily due to favorable loss emergence and validated by the pricing of the 2023 LPT[156](index=156&type=chunk) - The company identified and corrected immaterial errors in its Q1 and Q2 2023 interim financial statements related to the recognition of Net premiums earned, which reduced previously reported net income for the six months ended June 30, 2023, by **$17.1 million**[219](index=219&type=chunk)[223](index=223&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=50&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses improved Q3 and 9M 2023 financial performance, driven by strong underwriting results, positive investment returns, and strategic actions Key Performance Indicators | Key Performance Indicators | Q3 2023 | Q3 2022 | 9M 2023 | 9M 2022 | | :--- | :--- | :--- | :--- | :--- | | **Combined ratio** | 88.0% | 107.7% | 81.6% | 98.5% | | **Core income (loss) ($M)** | 50.0 | (79.1) | 245.1 | (31.4) | | **Annualized return on avg. common equity** | 11.3% | (20.1)% | 16.7% | (24.0)% | - The company is executing a restructuring plan, which includes closing offices in Hamburg, Miami, and Singapore, and reducing its footprint in Liege and Toronto to centralize property catastrophe underwriting in Bermuda[257](index=257&type=chunk) - A significant driver of improved underwriting results was lower catastrophe losses, which were **$12.0 million** in Q3 2023 compared to **$114.6 million** in Q3 2022 (primarily from Hurricane Ian)[271](index=271&type=chunk) - The investment portfolio is being repositioned to be better aligned with the underwriting strategy, resulting in lower volatility, with the weighted-asset duration of the fixed income portfolio extended to **2.7 years** from **1.8 years** at year-end 2022[248](index=248&type=chunk)[276](index=276&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=71&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details principal market risks including interest rate, foreign currency, and price risk, providing sensitivity analyses for each Interest Rate Sensitivity Analysis | Assumed Change in Interest Rate | Estimated Pre-tax (Decrease) in Fair Value of Debt Securities ($M) | | :--- | :--- | | 50 bp increase | (72.9) | | 100 bp increase | (145.5) | | 200 bp increase | (290.6) | | 300 bp increase | (435.7) | - A hypothetical 10% increase or decrease in the value of other long-term investments would change their carrying value by approximately **$32.6 million**[398](index=398&type=chunk) - A hypothetical 10% increase or decrease in the value of investments in Related Party Investment Funds would change their carrying value by approximately **$11.0 million**[399](index=399&type=chunk) [Controls and Procedures](index=73&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective due to a material weakness in internal control over financial reporting related to premium calculations - A material weakness was identified in internal control over financial reporting related to the calculation of written and earned premiums, stemming from a manual calculation in the property catastrophe business and a data transfer error[403](index=403&type=chunk) - This material weakness resulted in an immaterial misstatement of premiums for Q1 and Q2 2023, which the company has elected to revise for transparency[404](index=404&type=chunk) - Management has implemented an additional control to ensure the accuracy of Net premiums earned calculations and expects to complete the remediation shortly[405](index=405&type=chunk) [PART II. OTHER INFORMATION](index=74&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=74&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various lawsuits and regulatory actions, none expected to materially affect its financial condition or operations - The company is involved in typical industry lawsuits, including disputes over policy coverage, claims handling, and ceded reinsurance, but does not expect any current proceedings to have a material adverse impact[408](index=408&type=chunk) [Risk Factors](index=74&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor highlights potential adverse impacts from Bermuda's expected 15% corporate income tax, effective January 1, 2025 - The Government of Bermuda is expected to enact a **15%** corporate income tax, effective from January 1, 2025, which may subject the company to additional income taxes and could have a material impact on its deferred taxes and effective tax rate[410](index=410&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=75&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase common shares in Q3 or 9M 2023, with approximately $56.3 million remaining under its repurchase authorization - No common shares were repurchased during the third quarter of 2023[412](index=412&type=chunk) - The company has approximately **$56.3 million** remaining under its share and warrant repurchase authorization as of September 30, 2023[412](index=412&type=chunk) [Other Information](index=75&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 trading arrangements were adopted or terminated by directors or officers during the third quarter of 2023 - No new or terminated Rule 10b5-1 trading arrangements were reported for directors or officers during the quarter[415](index=415&type=chunk) [Exhibits](index=76&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and XBRL data files