SiriusPoint Reports Fourth Quarter 2025 Net Income of $240m, Return on Equity of 44.9% and Operating Return on Equity of 17.1%

Core Insights - SiriusPoint Ltd. reported strong financial results for the fourth quarter and full year of 2025, highlighting a disciplined underwriting strategy and a focus on customer satisfaction [3][4][5]. Fourth Quarter 2025 Highlights - The company achieved a 16% growth in top-line revenue, with diluted book value per share increasing by 28% [4]. - Operating earnings per share rose by 49% year-over-year, reaching $0.70 for the fourth quarter [7]. - The gross and net written premium growth for the fourth quarter was 18% [7]. - The Core combined ratio improved to 92.9% [7]. - The leverage ratio is expected to drop to a historic low of 23% following the redemption of Series B Preference Shares [7][33]. Full Year 2025 Highlights - Net income available to common shareholders was $444 million, or $3.64 per diluted common share, with operating earnings per share increasing by 49% to $2.55 [7]. - The company reported a 16% growth in gross written premiums and a 19% increase in net written premiums for the year [7]. - The Core combined ratio for the full year was 91.7% [7]. - Book value per diluted common share increased by 23.6% from the previous year, reaching $18.10 [7]. Segment Performance Insurance & Services Segment - For the fourth quarter, gross written premiums increased by 23.5% to $556 million, driven by growth in Accident & Health and Surety [20]. - The segment generated income of $30.7 million, down from $48.4 million in the previous year, primarily due to lower net favorable prior year loss reserve development [21]. - For the full year, gross written premiums rose by 25.7% to $2.31 billion, with income increasing to $165.7 million from $119.8 million [22][23]. Reinsurance Segment - The Reinsurance segment saw gross written premiums increase by 9.2% to $340.9 million in the fourth quarter, driven by new business in London and New York [24]. - Underwriting income for the segment was $22.1 million, an improvement from $18.3 million in the previous year [25]. - For the full year, gross written premiums increased by 2.9% to $1.375 billion, but underwriting income decreased to $90.5 million from $124.8 million due to increased catastrophe losses [26][27]. Investment Performance - Net investment income for the year increased, despite a decrease in income from debt securities and short-term investments, attributed to a smaller asset base following capital transactions [29]. Subsequent Events - The company announced the sale of its 49% equity stake in Arcadian for $140.4 million, with a pre-tax gain expected in the first quarter of 2026 [30]. - An agreement was made to acquire Assist America for $42.5 million, enhancing the company's global emergency travel assistance services [31][32].