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Fitch Ratings Upgrades SiriusPoint's Operating Subsidiaries to ‘A' (Strong)
Globenewswire· 2026-02-25 22:24
Core Viewpoint - Fitch Ratings has upgraded SiriusPoint Ltd.'s ratings, reflecting strong earnings and improved financial stability, with a stable outlook [1][2]. Group 1: Rating Upgrades - SiriusPoint's Insurer Financial Strength (IFS) rating upgraded to 'A' from 'A-' [1] - Long-Term Issuer Default Rating (IDR) upgraded to 'BBB+' from 'BBB' [1] - Senior debt rating upgraded to 'BBB' from 'BBB-' [1] Group 2: Financial Performance - The upgrade is attributed to strong earnings driven by solid underwriting profitability and a reduced risk profile [2] - Key drivers include strengthened capitalization, reduced leverage, and favorable reserve development [2] - The company has shown solid underwriting results over the last three years, indicating improved risk selection [2] Group 3: Company Overview - SiriusPoint is a global underwriter of insurance and reinsurance, headquartered in Bermuda with offices in major cities [3] - The company has over $3.0 billion in total capital and holds strong financial strength ratings from multiple agencies [3] - It offers Property & Casualty and Accident & Health insurance and reinsurance globally, supported by strategic partnerships [3]