📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

SiriusPoint Ltd. provides multi-line reinsurance and insurance products and services worldwide. It operates in four segments: Global P&C Programs, Global Reinsurance, Global Accident & Health, and London Market Specialty. Global P&C Programs segment offers programs space, by further strengthening its offering to clients and distribution partners globally. , Global Reinsurance segment provides casualty, property, and other specialties, such as proportional and excess of loss, treaty and facultative, aviation and space, marine and energy and, credit to insurance and reinsurance companies, government entities, and other risk bearing vehicles. London Market Specialty segment provides London casualty, energy, property, and marine leaders services. It provides accident and health, property and casualty, aviation and space, credit, surety, marine and energy, and mortgage. It offers medical insurance products, trip cancellation programs, medical management services, and 24/7 emergency medical and travel assistance services. The company was formerly known as Third Point Reinsurance Ltd. and changed its name to SiriusPoint Ltd. in February 2021. SiriusPoint Ltd. was incorporated in 2011 and is headquartered in Pembroke, Bermuda.

Key Ratios Snapshot

📈 Growth Pattern

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⭐ Superinvestors Holding SPNT

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	17.6K	$379K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly cites specific positive metrics: 17% underlying ROE (above 12-15% target), 89.5% core combined ratio (3.8 pt improvement), 11th straight underwriting profit quarter, double-digit premium growth, and 17th consecutive quarter of favorable reserve development. Language is direct and numeric.

Q3 2025

Confident Specific

Management repeatedly used strong positive language ('excellent', 'proud', 'successful', 'strong delivery'), provided specific metrics (core combined ratio 89.1%, operating ROE 17.9%, 12th consecutive quarter of underwriting profit), and highlighted awards and credit rating upgrades. No defensive or evasive language was detected.

Q4 2025

Confident Specific

Management used specific metrics and forward-looking statements with strong conviction, e.g., '16% growth', 'operating ROE of 16.2%', 'outperformed target', and 'book value up 28%'.

Q1 2026 latest

Confident Specific

Management uses strong positive language: 'strong first quarter', 'lowest combined ratio in six quarters', 'top end of our ROE target range', 'very strong balance sheet', and explicitly quantifies achievements such as $240M capital returned, 242% BSCR, and rating upgrades. They also provide specific full-year guidance (5-10% GWP growth, 6.5-7% expense ratio) without hedging.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Management delivered a strong quarter with underwriting profitability at the top end of their ROE target, and provided concrete capital return actions (increased buyback) and rating upgrades. The disciplined growth narrative (double-digit insurance, selective reinsurance) suggests they can navigate a softening cycle. However, watch for: (1) whether the insurance combined ratio holds given rising acquisition costs and potential GL/marine softening; (2) execution on the 5-10% full-year growth target, especially in the second half; (3) any further run-off loss surprises from the legacy portfolio. Next quarter, key items to monitor are the underlying combined ratio trend, actual growth in insurance vs reinsurance, and further capital management announcements (dividend, buyback pace).

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

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3-Statement Financial Model

Bear / Base / Bull projections · DCF fair value · Reverse-DCF

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🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED SiriusPoint Q1 2026: core combined ratio 88.9%, operating ROE 15.3%

Revenue & Profitability

Gross written premiums were $1 billion, up 1% year-over-year (adjusted ~4% for one-off items). Net earned premiums increased 2%. Underwriting income was $71 million. Operating net income was $86 million ($0.70 per diluted share), up 37% year-over-year. Operating return on equity was 15.3%, core operating ROE 17.9%, and GAAP ROE 17.4%. Book value per diluted share was $18.98, up 5% sequentially.

Outlook

Management sees softening in certain P&C market segments but remains disciplined, focusing on niche opportunities. They expect overall gross written premium growth of 5%-10% for the full year, with strong double-digit growth in insurance and services and a more gradual recovery in reinsurance. The portfolio shift toward insurance reduces seasonality.

Growth Drivers

Insurance and services GWP grew 8% in Q1, led by accident and health (up 9%). Two new MGA relationships were added in the quarter, and a strong pipeline supports double-digit growth expectations for the remainder of 2026. Reinsurance growth is expected to improve after the property cat 1/1 period. The company is also enhancing its London Market Specialty division.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

The core combined ratio improved 6.5 points to 88.9% year-over-year, driven by lower catastrophe losses and improved attritional loss performance, despite 1.2 points of mix headwind. Other underwriting expenses were 7.2% in Q1 but are expected to average 6.5%-7% for the full year. Higher acquisition costs reflected profit commission accruals linked to strong MGA partner performance.

Key Risks

Key risks include market softening in property cat, marine, and parts of casualty; loss cost inflation in auto; and competition in D&O/professional lines. Catastrophe exposure has been reduced but remains a factor. The company noted minimal exposure to the Middle East conflict and no material impact from the Baltimore Bridge collapse. Run-off reserves are under $500 million and expected to be 90% reported by mid-2027.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-30

Strong underwriting and investment performance drove a 44% year-over-year net income increase and operating ROE at the upper end of guidance. Specialty lines and disciplined capital allocation supported growth, while portfolio diversification and prudent risk management enhanced resilience.

Q1 2026 Q1 2026 2026-05-08

Strong Q1 results featured a 149% increase in underwriting income, 8% insurance premium growth, and a core combined ratio of 88.9%. Capital strength was reinforced by $240M+ returned to shareholders and rating upgrades, with guidance for 5%-10% premium growth in 2026.

Q4 2025 Q4 2025 2026-02-19

Delivered strong 2025 results with 16% top-line growth, 141% net income increase, and a 16.2% operating ROE, exceeding targets. Portfolio diversification, disciplined underwriting, and strategic acquisitions support continued growth, with a $100M share buyback planned.

Q3 2025 Q3 2025 2025-10-31

Strong Q3 results with 26% premium growth, 89.1% combined ratio, and 17.9% operating ROE. MGA sales to add $200M+ to book value and reduce leverage, while segment performance and capital position remain robust.

Q2 2025 Q2 2025 2025-08-04

Q2 2025 saw strong underwriting profit, 17% ROE, and double-digit premium growth, with improved combined ratios and stable investment income. A&H and property lines drove growth, while catastrophe exposure and casualty were managed cautiously. Book value and ratings improved.

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