Re/insurance group SiriusPoint reported second-quarter 2025 results, posting net income attributable to common shareholders of US$59.2 million.
Core income for the quarter reached US$76.3 million, which included US$67.6 million in underwriting income. The core combined ratio stood at 89.5%.
SiriusPoint’s performance builds on a run of consistent underwriting profitability. The company reported a core combined ratio of 91.0% for full-year 2024, with approximately US$200 million in core underwriting income. Gross premiums written for continuing business rose 21% in the fourth quarter of 2024 and 10% for the full year, reflecting growth across targeted segments.
AM Best revised the outlook for SiriusPoint’s operating subsidiaries to Positive from Stable in April while affirming their A‑ (Excellent) financial strength rating, citing balance sheet strength, underwriting performance, and capital management
In Q1, the company also maintained robust Bermuda Solvency Capital Requirement ratios, with an estimated BSCR of about 227% in the first quarter of 2025.
Core net services fee income totaled US$8.5 million, with a service margin of 14.7%. Net investment income was US$68.2 million, while the total investment result came to US$68.9 million.
Book value per diluted common share, excluding AOCI, increased 3.2% from March 31, 2025, to US$15.64. The company’s annualized return on average common equity was 12.7% for the quarter.
For the first half of 2025, net income attributable to common shareholders was US$116.8 million. Core income over the six months reached US$123.7 million, including US$96.1 million in underwriting income, with a core combined ratio of 92.4%.
Core net services fee income was US$27.5 million, producing a service margin of 22.9%. Net investment income was US$139.4 million, with a total investment result of US$139.8 million. Book value per diluted common share, excluding AOCI, rose 6.8% from the end of 2024 to US$15.64, while the annualized return on average common equity was 12.8%.
Chief executive officer Scott Egan (pictured above) said the quarter’s performance was the result of the company’s disciplined underwriting approach, adding that the business has shown it can generate steady earnings.
“Beyond strong financials, the second quarter marked real and tangible progress in other areas,” Egan said. “Our momentum continues, and this quarter is another purposeful step towards our goal of becoming a best-in-class underwriter.”
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