SiriusPoint reports 80.5% Combined ratio for its Core operations at Q1’23 with Net Income up $358m year on year


SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) has announced results for its first quarter ended March 31, 2023.

  • 9% growth in book value per diluted common share, capital generation across all business areas, improving asset
    and financial leverage and strong balance sheet and capital positions are the key highlights of the first quarter
  • Continued execution against our strategic priorities with the aim of creating a high performing specialist underwriter with focused, complementary MGA investments
  • Targeting double-digit return on average common equity in 2023 with approximately $150m of capital release, at
    the closing, linked to the Loss Portfolio Transfer providing more capital flexibility

Scott Egan, Chief Executive Officer, said: “We are pleased with the first quarter results. We have delivered positive capital generation across all business areas with our Underwriting business delivering a Core combined ratio of 80.5%. This quarter delivers the first positive net income since Q2’21 while our book value per diluted common share has increased by 9% during the quarter…”

Click here to find out more in our earnings press release.

Written by Alex Kronenberg