SiriusPoint Ltd 8-K, filed Nov 5, 2026
SiriusPoint Ltd (SPNT)
8-K
2026-11-05
For: 2026-11-05
View Original
Added on
November 06, 2026
About this 8-K
SiriusPoint Ltd filed this 8-K on November 5, 2026.
SiriusPoint reported $87 million of net income available to common shareholders for the third quarter ended September 30, 2026, and a 90.1% core combined ratio. Its RiverStone loss portfolio transfer is expected to unlock over $200 million of capital, subject to regulatory approval. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 5, 2026 (November 5, 2026 )
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices and Zip Code)
Registrant’s telephone number, including area code: +1 441 542-3300
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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| Item 2.02 | Results of Operations and Financial Condition. | ||||
On November 5, 2026, SiriusPoint Ltd. issued a press release reporting its financial results for the third quarter ended September 30, 2026 attached hereto as Exhibit 99.1.
The information contained in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished pursuant to this Item 2.02. This information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, or incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 7.01 | Regulation FD Disclosure. | ||||
On November 5, 2026, SiriusPoint Ltd. made available to investors its third quarter financial supplement attached hereto as Exhibit 99.2 and slide presentation attached hereto as Exhibit 99.3.
The information contained in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 and Exhibit 99.3 attached hereto, are being furnished pursuant to this Item 7.01. This information shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section, or incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits. | ||||
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 99.3 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: November 5, 2026 | /s/ Scott Egan | ||||||||||
| Name: | Scott Egan | ||||||||||
| Title: | Chief Executive Officer | ||||||||||
SiriusPoint Reports Third Quarter 2026 Results and Announces LPT on Remaining Run-Off Reserves
HAMILTON, Bermuda, November 5, 2026 - SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT), a global specialty underwriter, today announced results for its third quarter ended September 30, 2026, and entered into a loss portfolio transfer (LPT) agreement to close the chapter on its legacy portfolio.
Third Quarter 2026 Highlights
•Net income available to SiriusPoint common shareholders of $87 million, or $0.74 per diluted common share
•Operating earnings per share increased 19% to $0.88
•Return on equity of 15.4%, with operating return on equity of 17.6%
•Core gross written premium increased 14%, driven by 20% growth in Insurance & Services
•Core combined ratio of 90.1%
•Book value per diluted common share (ex. AOCI) increased 4% from June 30, 2026 to $20.21
•Balance sheet remains strong with BSCR estimate of 232%
Nine Months 2026 Highlights
•Net income available to SiriusPoint common shareholders of $255 million, up 25% versus prior year
•Diluted earnings per common share of $2.14, with operating earnings per share up 17% to $2.29
•Return on equity of 15.1%, with operating return on equity of 15.8%
•Insurance & Services gross written premium growth of 14%; continued discipline in Reinsurance with premiums decreasing 6%
•Core combined ratio of 90.1% improved 1.3 points versus prior year
•Book value per diluted common share (ex. AOCI) increased 12% from December 31, 2025 to $20.21
SiriusPoint’s LPT agreement with RiverStone covers substantially all of the remaining run-off reserves and is supported by significant limit and strong collateral. The deal is expected to unlock over $200 million of capital currently supporting the run-off portfolio. The deal is subject to regulatory approval.
Scott Egan, Chief Executive Officer, said: “Our third quarter results represent continued strong performance, with our diversified, low-volatility portfolio again delivering on both growth and profitability. Our Insurance & Services segment grew by 20% and our core combined ratio was 90.1% both in the quarter and year to date. With an operating return on equity of 17.6% for the quarter and 15.8% year to date, the business continues to outperform against our 12-15% target.
“We continue to create value for our shareholders as our book value per share (ex. AOCI) grew by 4% in the quarter and 12% year to date. As we head into the final quarter, we believe our underwriting credentials and positive momentum position us well to close out the year with confidence. Our balance sheet and capital are very strong, and we have the agility to deploy capital where we see the best opportunities.
“We have also announced another important milestone in the quarter linked to our legacy run-off portfolio, agreeing a loss portfolio transfer with RiverStone. This will allow us to effectively close the door on this historical book of reserves, further simplifying our business and unlocking significant capital.”
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Key Financial Metrics
The following table shows certain key financial metrics for the three and nine months ended September 30, 2026 and 2025 and as of September 30, 2026 and December 31, 2025:
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| ($ in millions, except for ratios) | |||||||||||||||||||||||
| Combined ratio | 86.5 | % | 85.9 | % | 87.6 | % | 87.8 | % | |||||||||||||||
Core combined ratio ⁽¹⁾ | 90.1 | % | 89.1 | % | 90.1 | % | 91.4 | % | |||||||||||||||
| Core underwriting income ⁽¹⁾ | $ | 75.9 | $ | 69.6 | $ | 201.8 | $ | 165.7 | |||||||||||||||
| Core net services income ⁽¹⁾ | $ | 11.9 | $ | 10.1 | $ | 30.2 | $ | 37.7 | |||||||||||||||
| Operating net income ⁽¹⁾ | $ | 103.2 | $ | 87.4 | $ | 272.6 | $ | 231.1 | |||||||||||||||
Operating earnings per share ⁽¹⁾ | $ | 0.88 | $ | 0.74 | $ | 2.29 | $ | 1.95 | |||||||||||||||
| Annualized ROE | 15.4 | % | 17.7 | % | 15.1 | % | 14.5 | % | |||||||||||||||
| Annualized Operating ROE ⁽¹⁾ | 17.6 | % | 18.3 | % | 15.8 | % | 16.5 | % | |||||||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| Book value per common share | $ | 19.37 | $ | 19.40 | |||||||
| Book value per diluted common share | $ | 19.05 | $ | 18.61 | |||||||
| Book value per diluted common share ex. AOCI ⁽¹⁾ | $ | 20.21 | $ | 18.10 | |||||||
| Tangible book value per diluted common share ⁽¹⁾ | $ | 17.30 | $ | 17.62 | |||||||
(1)Core combined ratio, Core underwriting income, and Core net services income are non-GAAP financial measures. See definitions in “Non-GAAP Financial Measures” and reconciliations in “Segment Reporting.” Operating net income, Operating earnings per share, Annualized Operating ROE, book value per diluted common share ex. AOCI and tangible book value per diluted common share are non-GAAP financial measures. See definitions and reconciliations in “Non-GAAP Financial Measures.”
Third Quarter and Nine Months 2026 Summary
Consolidated underwriting income for the three months ended September 30, 2026 was $103.5 million compared to $91.4 million for the three months ended September 30, 2025. The improvement was primarily driven by lower attritional loss ratios and increased favorable prior year loss reserve development, slightly offset by higher expense ratios.
Consolidated underwriting income for the nine months ended September 30, 2026 was $254.7 million compared to $235.7 million for the nine months ended September 30, 2025. The improvement was primarily driven by a decrease in catastrophe losses as the prior period included losses from the California wildfires and increased favorable prior year loss reserve development, partially offset by higher expenses. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance.
Reportable Segments
The determination of our reportable segments is based on the manner in which management monitors the performance of our operations, which consist of two reportable segments - Insurance & Services and Reinsurance. Collectively, the sum of our two segments, Insurance & Services and Reinsurance, constitute our “Core” results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting.” We believe it is useful to review Core results as they reflect how management views the business and reflects our decision to exit the run-off business. The sum of Core results and Corporate results are equal to the consolidated results of operations.
In the fourth quarter of 2026, SiriusPoint plans to realign its reportable segments to reflect how management now views and manages the business. Over recent years, SiriusPoint has evolved into a specialty underwriter, and management increasingly evaluates performance and allocates capital across its specialty markets. Our external financial reporting will be aligned with that approach.
Under the new structure, SiriusPoint plans to report two segments. Accident & Health, which now has over $1 billion of premiums, will become a standalone segment, reflecting its distinct product, risk, earnings and capital characteristics. The remaining specialty businesses will be reported in a new Specialty P&C segment, which management evaluates on a combined basis, allocating capital and resources and assessing underwriting performance across the portfolio. These segments will replace our previous Insurance & Services and Reinsurance segments, and together they will continue to make up our Core results.
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Three months ended September 30, 2026 and 2025
Core Premium Volume
Gross written premium increased by $119.0 million, or 13.7%, to $990.6 million for the three months ended September 30, 2026 compared to $871.6 million for the three months ended September 30, 2025. Net written premium increased by $13.8 million, or 2.1%, to $678.7 million for the three months ended September 30, 2026 compared to $664.9 million for the three months ended September 30, 2025. Net earned premium increased by $121.3 million, or 18.9%, to $764.8 million for the three months ended September 30, 2026 compared to $643.5 million for the three months ended September 30, 2025. The increases in written premium were driven by our Insurance & Services segment, including growth in Surety business as well as an increase in our estimated premium for Professional Liability business, slightly offset by the exit of an International A&H program. The increase in net earned premium was primarily related to increases in our estimate of the earned premium in Professional Liability and A&H businesses. The Professional Liability and A&H premium estimate changes were largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income.
Core Underwriting Results
Core results for the three months ended September 30, 2026 included income of $87.8 million compared to $79.7 million for the three months ended September 30, 2025. Income for the three months ended September 30, 2026 consists of underwriting income of $75.9 million (90.1% combined ratio) and net services income of $11.9 million, compared to underwriting income of $69.6 million (89.1% combined ratio) and net services income of $10.1 million for the three months ended September 30, 2025. The improvement in underwriting income was primarily driven by lower attritional loss ratios and increased favorable prior year loss reserve development, slightly offset by higher expense ratios. For the three months ended September 30, 2026, favorable prior year loss reserve development was $18.3 million compared to $9.1 million for the three months ended September 30, 2025, primarily driven by favorable development on Property and A&H business.
The increase in net services income was due to growth in the IMG travel business and the acquisition of Assist America, partially offset by the deconsolidation of Armada. Service margin, which is calculated as Net service fee income as a percentage of services revenues, increased to 19.7% for the three months ended September 30, 2026 from 16.3% for the three months ended September 30, 2025, when adjusted to exclude Armada, driven by the acquisition of Assist America.
Nine months ended September 30, 2026 and 2025
Core Premium Volume
Gross written premium increased by $184.3 million, or 6.6%, to $2,975.9 million for the nine months ended September 30, 2026 compared to $2,791.6 million for the nine months ended September 30, 2025. Net written premium decreased by $31.7 million, or 1.5%, to $2,085.0 million for the nine months ended September 30, 2026 compared to $2,116.7 million for the nine months ended September 30, 2025. Net earned premium increased by $127.0 million, or 6.6%, to $2,041.9 million for the nine months ended September 30, 2026 compared to $1,914.9 million for the nine months ended September 30, 2025. The increases in gross written premium and net earned premium were driven by our Insurance & Services segment, primarily driven by an increase in premium estimates on Professional Liability and A&H businesses, new program growth, mainly in General Liability, as well as continued organic growth in existing programs and growth in A&H. These increases were partially offset by decreases in our Reinsurance segment, mainly in Casualty, Property Catastrophe, and Other Specialties. The Professional Liability and A&H premium estimate changes were largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income. The decrease in net written premium was primarily driven by the decreases in our Reinsurance segment and the ceded premium related to the inception of an aggregate reinsurance program in 2026.
Core Underwriting Results
Core results for the nine months ended September 30, 2026 included income of $232.0 million compared to $203.4 million for the nine months ended September 30, 2025. Income for the nine months ended September 30, 2026 consists of underwriting income of $201.8 million (90.1% combined ratio) and net services income of $30.2 million, compared to underwriting income of $165.7 million (91.4% combined ratio) and net services income of $37.7 million for the nine months ended September 30, 2025. The improvement in net underwriting results was primarily driven by decreased catastrophe losses, partially offset by higher acquisition costs and other underwriting expense. Catastrophe losses were $6.7 million, or 0.3 percentage points on the combined ratio, for the nine months ended September 30, 2026, compared to $67.4 million, or 3.5 percentage points on the combined ratio, for the nine months ended September 30, 2025, primarily driven by the California wildfires in the prior period. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance.
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Insurance & Services Segment
Three months ended September 30, 2026 and 2025
Insurance & Services gross written premium were $673.0 million for the three months ended September 30, 2026, an increase of $111.0 million, or 19.8%, compared to the three months ended September 30, 2025, primarily driven by growth in Surety business as well as an increase in premium estimate on Professional Liability business, slightly offset by the exit of an International A&H program. The Professional Liability premium estimate change was largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income.
Insurance & Services generated income of $44.9 million for the three months ended September 30, 2026, compared to $47.8 million for the three months ended September 30, 2025. Income for the three months ended September 30, 2026 consists of underwriting income of $33.0 million (92.8% combined ratio) and net services income of $11.9 million, compared to underwriting income of $37.7 million (90.1% combined ratio) and net services income of $10.1 million for the three months ended September 30, 2025. The decrease in underwriting income was primarily a result of higher acquisition and other underwriting expense ratios, slightly offset by lower attritional loss ratios.
Nine months ended September 30, 2026 and 2025
Insurance & Services gross written premium were $2,002.2 million for the nine months ended September 30, 2026, an increase of $244.7 million, or 13.9%, for the nine months September 30, 2026 compared to the nine months ended September 30, 2025, primarily driven by an increase in premium estimate on Professional Liability business, Surety and new program growth, mainly in General Liability, as well as continued organic growth in existing programs and growth in North America A&H. The Professional Liability premium estimate change was largely offset by corresponding loss and acquisition costs, with no significant impact on underwriting income.
Insurance & Services generated income of $128.7 million for the nine months ended September 30, 2026, compared to $135.0 million for the nine months ended September 30, 2025. Income for the nine months ended September 30, 2026 consists of underwriting income of $98.5 million (92.0% combined ratio) and net services income of $30.2 million, compared to underwriting income of $97.3 million (91.1% combined ratio) and net services income of $37.7 million for the nine months ended September 30, 2025. The improvement in underwriting income was primarily driven by increased favorable prior year loss reserve development, partially offset by increased expenses. For the nine months ended September 30, 2026, favorable prior year loss reserve development was $40.3 million compared to $21.7 million for the nine months ended September 30, 2025, primarily driven by favorable development in A&H. Increased acquisition costs primarily resulted from profit commission accruals related to favorable loss experience and increased other underwriting expense is largely driven by expenses related to incentive compensation award outperformance.
Reinsurance Segment
Three months ended September 30, 2026 and 2025
Reinsurance gross written premium were $317.6 million for the three months ended September 30, 2026, an increase of $8.0 million, or 2.6%, compared to the three months ended September 30, 2025, primarily driven by increases in certain Other Specialties lines, specifically Property and Marine & Energy.
Reinsurance generated underwriting income of $42.9 million (86.0% combined ratio) for the three months ended September 30, 2026, compared to $31.9 million (87.9% combined ratio) for the three months ended September 30, 2025. The increase in underwriting income for the three months ended September 30, 2026 compared to the three months ended September 30, 2025 was primarily driven by increased favorable prior year reserve development in Property and Energy.
Nine months ended September 30, 2026 and 2025
Reinsurance gross written premium were $973.7 million for the nine months ended September 30, 2026, a decrease of $60.4 million, or 5.8%, compared to the nine months ended September 30, 2025, primarily driven by deliberate reductions in Casualty, rate and exposure reductions in Property Catastrophe, and reductions in Other Specialties.
Reinsurance generated underwriting income of $103.3 million (87.4% combined ratio) for the nine months ended September 30, 2026, compared to $68.4 million (91.7% combined ratio) for the nine months ended September 30, 2025. The increase in underwriting income was primarily driven by decreased catastrophe losses, as the nine months ended September 30, 2025 included losses of $62.6 million, or 7.6 percentage points on the combined ratio, primarily from the California wildfires. This was partially offset by lower favorable prior year loss reserve development of $26.9 million for the nine months ended September 30, 2026, compared to $35.5 million for the nine months ended September 30, 2025, mainly from reserve releases in Property relating to prior year’s catastrophe events.
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Investments
Three months ended September 30, 2026 and 2025
Net investment income decreased to $65.9 million for the three months ended September 30, 2026 compared to $66.5 million for the three months ended September 30, 2025 driven by lower yields on cash and short-term investments, as well as portfolio repositioning. Net investment gains (losses) decreased to $3.3 million for the three months ended September 30, 2026 compared to $6.2 million for the three months ended September 30, 2025. The decrease was primarily related to realized losses on sales of TPOC and other AFS debt securities, slightly offset by higher gains on sales of other long-term investments.
Nine months ended September 30, 2026 and 2025
Net investment income decreased to $197.8 million for the nine months ended September 30, 2026 compared to $205.9 million for the nine months ended September 30, 2025 driven by lower yields on cash and short-term investments, as well as portfolio repositioning. Net investment gains (losses) increased to $22.6 million for the nine months ended September 30, 2026 compared to $6.6 million for the nine months ended September 30, 2025 primarily due to gains from fair value changes in the Company's investments managed by related parties, which are included in Other long-term investments, partially offset by the reversal of inception to date unrealized gains.
Webcast Details
The Company will hold a webcast to discuss its third quarter 2026 results at 08:30 a.m. Eastern Time on November 6, 2026. The webcast of the conference call will be available over the Internet from the Company’s website at www.siriuspt.com under the “Investor Relations” section. Participants should follow the instructions provided on the website to download and install any necessary audio applications. The conference call will be available by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). Participants should ask for the SiriusPoint Ltd. third quarter 2026 earnings call.
The online replay will be available on the Company's website immediately following the call at www.siriuspt.com under the “Investor Relations” section.
Safe Harbor Statement Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “guidance,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. These risks and uncertainties include, but are not limited to, the "Risk Factors" described in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission.
All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Non-GAAP Financial Measures and Other Financial Metrics
In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results, and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, book value per diluted common share excluding accumulated other comprehensive income (loss) ("AOCI"), tangible book value per diluted common share, Operating net income, Core Operating net income, Operating earnings per share, Core Operating earnings per share, Operating ROE and Core Operating ROE are non-GAAP financial measures. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.
About the Company
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York
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Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators. With approximately $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A from AM Best, S&P and Fitch, and A3 from Moody’s. For more information, please visit www.siriuspt.com.
Contacts
Investor Relations
Liam Blackledge - Investor Relations and Strategy Manager
Liam.Blackledge@siriuspt.com
+ 44 203 772 3082
Media
Natalie King - Global Head of Marketing and External Communications
Natalie.King@siriuspt.com
+ 44 770 728 8817
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SIRIUSPOINT LTD.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of September 30, 2026 and December 31, 2025
(expressed in millions of U.S. dollars, except per share and share amounts)
| September 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
Debt securities, available for sale, at fair value, net of allowance for credit losses of $0.0 (2025 - $0.0) (cost - $5,523.9; 2025 - $5,118.3) | $ | 5,364.8 | $ | 5,168.6 | |||||||
Debt securities, trading, at fair value (cost - $80.6; 2025 - $114.6) | 55.3 | 90.3 | |||||||||
Short-term investments, at fair value (cost -$16.6; 2025 - $28.4) | 17.1 | 28.3 | |||||||||
Other long-term investments, at fair value (cost - $398.1; 2025 - $421.9) (includes related party investments at fair value of $215.8 (2025 - $216.1)) | 276.5 | 315.1 | |||||||||
| Total investments | 5,713.7 | 5,602.3 | |||||||||
| Cash and cash equivalents | 434.3 | 731.2 | |||||||||
| Restricted cash and cash equivalents | 127.4 | 171.2 | |||||||||
| Due from brokers | 6.5 | 7.5 | |||||||||
| Interest and dividends receivable | 46.2 | 47.1 | |||||||||
Insurance and reinsurance balances receivable, net | 2,558.9 | 2,260.3 | |||||||||
| Deferred acquisition costs, net | 397.7 | 384.1 | |||||||||
| Unearned premiums ceded | 649.2 | 487.4 | |||||||||
| Loss and loss adjustment expenses recoverable, net | 1,966.4 | 2,102.3 | |||||||||
| Deferred tax asset | 280.5 | 267.7 | |||||||||
| Goodwill | 46.0 | — | |||||||||
| Intangible assets | 158.8 | 121.2 | |||||||||
| Other assets | 236.7 | 272.1 | |||||||||
| Assets held for sale | — | 115.2 | |||||||||
| Total assets | $ | 12,622.3 | $ | 12,569.6 | |||||||
| Liabilities | |||||||||||
| Loss and loss adjustment expense reserves | $ | 5,816.7 | $ | 5,782.5 | |||||||
| Unearned premium reserves | 2,050.6 | 1,855.4 | |||||||||
| Reinsurance balances payable | 1,472.5 | 1,447.6 | |||||||||
| Debt | 667.5 | 688.6 | |||||||||
| Due to brokers | 48.9 | 5.5 | |||||||||
| Deferred tax liability | 67.8 | 73.0 | |||||||||
| Other liabilities | 268.9 | 246.1 | |||||||||
| Total liabilities | 10,392.9 | 10,098.7 | |||||||||
| Commitments and contingent liabilities | |||||||||||
| Shareholders’ equity | |||||||||||
Series B preference shares (2025 - par value $0.10; authorized and issued: 8,000,000) | — | 200.0 | |||||||||
| Common shares (issued and outstanding: 115,032,060; 2025 - 116,989,799) | 11.5 | 11.7 | |||||||||
| Additional paid-in capital | 869.2 | 967.7 | |||||||||
| Retained earnings | 1,483.5 | 1,228.5 | |||||||||
| Accumulated other comprehensive income (loss), net of tax | (135.9) | 61.9 | |||||||||
| Shareholders’ equity attributable to SiriusPoint shareholders | 2,228.3 | 2,469.8 | |||||||||
| Noncontrolling interests | 1.1 | 1.1 | |||||||||
| Total shareholders’ equity | 2,229.4 | 2,470.9 | |||||||||
| Total liabilities, noncontrolling interests and shareholders’ equity | $ | 12,622.3 | $ | 12,569.6 | |||||||
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SIRIUSPOINT LTD.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
For the three and nine months ended September 30, 2026 and 2025
(expressed in millions of U.S. dollars, except per share and share amounts)
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Net earned premium | $ | 767.6 | $ | 647.7 | $ | 2,046.8 | $ | 1,926.4 | |||||||||||||||
| Net investment income | 65.9 | 66.5 | 197.8 | 205.9 | |||||||||||||||||||
| Net investment gains (losses) | 3.3 | 6.2 | 22.6 | 6.6 | |||||||||||||||||||
| Other revenues | 30.8 | 35.5 | 119.1 | 92.5 | |||||||||||||||||||
| Total revenues | 867.6 | 755.9 | 2,386.3 | 2,231.4 | |||||||||||||||||||
| Expenses | |||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 415.9 | 372.9 | 1,137.0 | 1,147.3 | |||||||||||||||||||
| Acquisition costs, net | 195.2 | 139.8 | 499.8 | 410.4 | |||||||||||||||||||
| Other underwriting expenses | 53.0 | 43.6 | 155.3 | 133.0 | |||||||||||||||||||
| Net corporate and other expenses | 75.7 | 62.5 | 220.6 | 194.0 | |||||||||||||||||||
| Intangible asset amortization | 2.5 | 2.8 | 7.5 | 8.5 | |||||||||||||||||||
| Interest expense | 18.4 | 21.0 | 53.9 | 60.2 | |||||||||||||||||||
| Foreign exchange losses | 3.2 | 2.4 | 2.7 | 16.9 | |||||||||||||||||||
| Total expenses | 763.9 | 645.0 | 2,076.8 | 1,970.3 | |||||||||||||||||||
| Income before income tax expense | 103.7 | 110.9 | 309.5 | 261.1 | |||||||||||||||||||
| Income tax expense | (16.7) | (20.2) | (51.7) | (45.1) | |||||||||||||||||||
| Net income | 87.0 | 90.7 | 257.8 | 216.0 | |||||||||||||||||||
| Net (income) loss attributable to noncontrolling interests | (0.2) | 0.1 | (0.2) | (0.4) | |||||||||||||||||||
| Net income available to SiriusPoint | 86.8 | 90.8 | 257.6 | 215.6 | |||||||||||||||||||
| Dividends on Series B preference shares | — | (4.0) | (2.6) | (12.0) | |||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 86.8 | $ | 255.0 | $ | 203.6 | |||||||||||||||
| Earnings per share available to SiriusPoint common shareholders | |||||||||||||||||||||||
| Basic earnings per share available to SiriusPoint common shareholders | $ | 0.75 | $ | 0.74 | $ | 2.19 | $ | 1.75 | |||||||||||||||
| Diluted earnings per share available to SiriusPoint common shareholders | $ | 0.74 | $ | 0.73 | $ | 2.14 | $ | 1.71 | |||||||||||||||
| Weighted average number of common shares used in the determination of earnings per share | |||||||||||||||||||||||
| Basic | 115,135,159 | 116,726,540 | 116,191,819 | 116,412,996 | |||||||||||||||||||
| Diluted | 117,166,671 | 118,817,903 | 119,150,790 | 118,655,606 | |||||||||||||||||||
8
SIRIUSPOINT LTD.
SEGMENT REPORTING
| Three months ended September 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | ||||||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 673.0 | $ | 317.6 | $ | 990.6 | $ | — | $ | 4.3 | $ | — | $ | 994.9 | ||||||||||||||||||||||||||||||
| Net written premium | 403.5 | 275.2 | 678.7 | — | 1.7 | — | 680.4 | |||||||||||||||||||||||||||||||||||||
| Net earned premium | 460.8 | 304.0 | 764.8 | — | 2.8 | — | 767.6 | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 263.6 | 154.0 | 417.6 | (2.1) | 0.4 | — | 415.9 | |||||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 136.9 | 86.2 | 223.1 | (28.7) | 0.8 | — | 195.2 | |||||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 27.3 | 20.9 | 48.2 | — | 4.8 | — | 53.0 | |||||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 33.0 | 42.9 | 75.9 | 30.8 | (3.2) | — | 103.5 | |||||||||||||||||||||||||||||||||||||
| Services revenues | 61.5 | — | 61.5 | (31.2) | — | (30.3) | — | |||||||||||||||||||||||||||||||||||||
| Services expenses | 49.4 | — | 49.4 | — | — | (49.4) | — | |||||||||||||||||||||||||||||||||||||
| Net services fee income | 12.1 | — | 12.1 | (31.2) | — | 19.1 | — | |||||||||||||||||||||||||||||||||||||
| Services noncontrolling income | (0.2) | — | (0.2) | — | — | 0.2 | — | |||||||||||||||||||||||||||||||||||||
| Net services income | 11.9 | — | 11.9 | (31.2) | — | 19.3 | — | |||||||||||||||||||||||||||||||||||||
| Segment income (loss) | 44.9 | 42.9 | 87.8 | (0.4) | (3.2) | 19.3 | 103.5 | |||||||||||||||||||||||||||||||||||||
| Net investment income | 65.9 | — | 65.9 | |||||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 3.3 | — | 3.3 | |||||||||||||||||||||||||||||||||||||||||
| Other revenues | 0.5 | 30.3 | 30.8 | |||||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (26.3) | (49.4) | (75.7) | |||||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (2.5) | — | (2.5) | |||||||||||||||||||||||||||||||||||||||||
| Interest expense | (18.4) | — | (18.4) | |||||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (3.2) | — | (3.2) | |||||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 44.9 | $ | 42.9 | 87.8 | (0.4) | 16.1 | 0.2 | 103.7 | |||||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (16.7) | — | (16.7) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | 87.8 | (0.4) | (0.6) | 0.2 | 87.0 | |||||||||||||||||||||||||||||||||||||||
| Net (income) loss attributable to noncontrolling interest | — | — | — | (0.2) | (0.2) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) available to SiriusPoint | $ | 87.8 | $ | (0.4) | $ | (0.6) | $ | — | $ | 86.8 | ||||||||||||||||||||||||||||||||||
| Attritional losses | $ | 272.7 | $ | 163.2 | $ | 435.9 | $ | (2.1) | $ | 1.9 | $ | — | $ | 435.7 | ||||||||||||||||||||||||||||||
| Catastrophe losses | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (9.1) | (9.2) | (18.3) | — | (1.5) | — | (19.8) | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 263.6 | $ | 154.0 | $ | 417.6 | $ | (2.1) | $ | 0.4 | $ | — | $ | 415.9 | ||||||||||||||||||||||||||||||
Underwriting Ratios: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 59.2 | % | 53.7 | % | 57.0 | % | 56.8 | % | ||||||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | — | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (2.0) | % | (3.0) | % | (2.4) | % | (2.6) | % | ||||||||||||||||||||||||||||||||||||
| Loss ratio | 57.2 | % | 50.7 | % | 54.6 | % | 54.2 | % | ||||||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 29.7 | % | 28.4 | % | 29.2 | % | 25.4 | % | ||||||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 5.9 | % | 6.9 | % | 6.3 | % | 6.9 | % | ||||||||||||||||||||||||||||||||||||
Combined ratio | 92.8 | % | 86.0 | % | 90.1 | % | 86.5 | % | ||||||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
9
| Three months ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | ||||||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 562.0 | $ | 309.6 | $ | 871.6 | $ | — | $ | 2.8 | $ | — | $ | 874.4 | ||||||||||||||||||||||||||||||
| Net written premium | 396.8 | 268.1 | 664.9 | — | 5.4 | — | 670.3 | |||||||||||||||||||||||||||||||||||||
| Net earned premium | 381.2 | 262.3 | 643.5 | — | 4.2 | — | 647.7 | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 225.3 | 145.5 | 370.8 | (1.5) | 3.6 | — | 372.9 | |||||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 98.3 | 64.7 | 163.0 | (26.9) | 3.7 | — | 139.8 | |||||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 19.9 | 20.2 | 40.1 | — | 3.5 | — | 43.6 | |||||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 37.7 | 31.9 | 69.6 | 28.4 | (6.6) | — | 91.4 | |||||||||||||||||||||||||||||||||||||
| Services revenues | 58.5 | — | 58.5 | (32.7) | — | (25.8) | — | |||||||||||||||||||||||||||||||||||||
| Services expenses | 48.5 | — | 48.5 | — | — | (48.5) | — | |||||||||||||||||||||||||||||||||||||
| Net services fee income | 10.0 | — | 10.0 | (32.7) | — | 22.7 | — | |||||||||||||||||||||||||||||||||||||
| Services noncontrolling loss | 0.1 | — | 0.1 | — | — | (0.1) | — | |||||||||||||||||||||||||||||||||||||
| Net services income | 10.1 | — | 10.1 | (32.7) | — | 22.6 | — | |||||||||||||||||||||||||||||||||||||
| Segment income (loss) | 47.8 | 31.9 | 79.7 | (4.3) | (6.6) | 22.6 | 91.4 | |||||||||||||||||||||||||||||||||||||
| Net investment income | 66.5 | — | 66.5 | |||||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 6.2 | — | 6.2 | |||||||||||||||||||||||||||||||||||||||||
| Other revenues | 9.7 | 25.8 | 35.5 | |||||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (14.0) | (48.5) | (62.5) | |||||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (2.8) | — | (2.8) | |||||||||||||||||||||||||||||||||||||||||
| Interest expense | (21.0) | — | (21.0) | |||||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (2.4) | — | (2.4) | |||||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 47.8 | $ | 31.9 | 79.7 | (4.3) | 35.6 | (0.1) | 110.9 | |||||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (20.2) | — | (20.2) | |||||||||||||||||||||||||||||||||||||||
| Net income | 79.7 | (4.3) | 15.4 | (0.1) | 90.7 | |||||||||||||||||||||||||||||||||||||||
| Net loss attributable to noncontrolling interest | — | — | — | 0.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint | $ | 79.7 | $ | (4.3) | $ | 15.4 | $ | — | $ | 90.8 | ||||||||||||||||||||||||||||||||||
| Attritional losses | $ | 234.8 | $ | 145.1 | $ | 379.9 | $ | (1.5) | $ | 3.4 | $ | — | $ | 381.8 | ||||||||||||||||||||||||||||||
| Catastrophe losses | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (9.5) | 0.4 | (9.1) | — | 0.2 | — | (8.9) | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 225.3 | $ | 145.5 | $ | 370.8 | $ | (1.5) | $ | 3.6 | $ | — | $ | 372.9 | ||||||||||||||||||||||||||||||
Underwriting Ratios: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 61.6 | % | 55.3 | % | 59.0 | % | 59.0 | % | ||||||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | — | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (2.5) | % | 0.2 | % | (1.4) | % | (1.4) | % | ||||||||||||||||||||||||||||||||||||
| Loss ratio | 59.1 | % | 55.5 | % | 57.6 | % | 57.6 | % | ||||||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 25.8 | % | 24.7 | % | 25.3 | % | 21.6 | % | ||||||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 5.2 | % | 7.7 | % | 6.2 | % | 6.7 | % | ||||||||||||||||||||||||||||||||||||
| Combined ratio | 90.1 | % | 87.9 | % | 89.1 | % | 85.9 | % | ||||||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
10
| Nine months ended September 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | ||||||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 2,002.2 | $ | 973.7 | $ | 2,975.9 | $ | — | $ | 0.1 | $ | — | $ | 2,976.0 | ||||||||||||||||||||||||||||||
| Net written premium | 1,287.0 | 798.0 | 2,085.0 | — | 0.9 | — | 2,085.9 | |||||||||||||||||||||||||||||||||||||
| Net earned premium | 1,222.6 | 819.3 | 2,041.9 | — | 4.9 | — | 2,046.8 | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 695.8 | 428.1 | 1,123.9 | (5.7) | 18.8 | — | 1,137.0 | |||||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 349.1 | 225.7 | 574.8 | (73.2) | (1.8) | — | 499.8 | |||||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 79.2 | 62.2 | 141.4 | — | 13.9 | — | 155.3 | |||||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 98.5 | 103.3 | 201.8 | 78.9 | (26.0) | — | 254.7 | |||||||||||||||||||||||||||||||||||||
| Services revenues | 174.9 | — | 174.9 | (84.1) | — | (90.8) | — | |||||||||||||||||||||||||||||||||||||
| Services expenses | 145.1 | — | 145.1 | — | — | (145.1) | — | |||||||||||||||||||||||||||||||||||||
| Net services fee income | 29.8 | — | 29.8 | (84.1) | — | 54.3 | — | |||||||||||||||||||||||||||||||||||||
| Services noncontrolling loss | 0.4 | — | 0.4 | — | — | (0.4) | — | |||||||||||||||||||||||||||||||||||||
| Net services income | 30.2 | — | 30.2 | (84.1) | — | 53.9 | — | |||||||||||||||||||||||||||||||||||||
| Segment income (loss) | 128.7 | 103.3 | 232.0 | (5.2) | (26.0) | 53.9 | 254.7 | |||||||||||||||||||||||||||||||||||||
| Net investment income | 197.8 | — | 197.8 | |||||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 22.6 | — | 22.6 | |||||||||||||||||||||||||||||||||||||||||
| Other revenues | 28.3 | 90.8 | 119.1 | |||||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (75.5) | (145.1) | (220.6) | |||||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (7.5) | — | (7.5) | |||||||||||||||||||||||||||||||||||||||||
| Interest expense | (53.9) | — | (53.9) | |||||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (2.7) | — | (2.7) | |||||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 128.7 | $ | 103.3 | 232.0 | (5.2) | 83.1 | (0.4) | 309.5 | |||||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (51.7) | — | (51.7) | |||||||||||||||||||||||||||||||||||||||
| Net income | 232.0 | (5.2) | 31.4 | (0.4) | 257.8 | |||||||||||||||||||||||||||||||||||||||
| Net income attributable to noncontrolling interest | — | — | (0.6) | 0.4 | (0.2) | |||||||||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint | $ | 232.0 | $ | (5.2) | $ | 30.8 | $ | — | $ | 257.6 | ||||||||||||||||||||||||||||||||||
| Attritional losses | $ | 734.8 | $ | 449.6 | $ | 1,184.4 | $ | (5.7) | $ | 4.3 | $ | — | $ | 1,183.0 | ||||||||||||||||||||||||||||||
| Catastrophe losses | 1.3 | 5.4 | 6.7 | — | — | — | 6.7 | |||||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (40.3) | (26.9) | (67.2) | — | 14.5 | — | (52.7) | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 695.8 | $ | 428.1 | $ | 1,123.9 | $ | (5.7) | $ | 18.8 | $ | — | $ | 1,137.0 | ||||||||||||||||||||||||||||||
Underwriting Ratios: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 60.1 | % | 54.9 | % | 58.0 | % | 57.9 | % | ||||||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | 0.1 | % | 0.7 | % | 0.3 | % | 0.3 | % | ||||||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (3.3) | % | (3.3) | % | (3.3) | % | (2.6) | % | ||||||||||||||||||||||||||||||||||||
| Loss ratio | 56.9 | % | 52.3 | % | 55.0 | % | 55.6 | % | ||||||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 28.6 | % | 27.5 | % | 28.2 | % | 24.4 | % | ||||||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 6.5 | % | 7.6 | % | 6.9 | % | 7.6 | % | ||||||||||||||||||||||||||||||||||||
Combined ratio | 92.0 | % | 87.4 | % | 90.1 | % | 87.6 | % | ||||||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
11
| Nine months ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | ||||||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 1,757.5 | $ | 1,034.1 | $ | 2,791.6 | $ | — | $ | 15.7 | $ | — | $ | 2,807.3 | ||||||||||||||||||||||||||||||
| Net written premium | 1,273.1 | 843.6 | 2,116.7 | — | 1.0 | — | 2,117.7 | |||||||||||||||||||||||||||||||||||||
| Net earned premium | 1,086.6 | 828.3 | 1,914.9 | — | 11.5 | — | 1,926.4 | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 644.4 | 497.2 | 1,141.6 | (5.0) | 10.7 | — | 1,147.3 | |||||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 283.5 | 202.3 | 485.8 | (83.1) | 7.7 | — | 410.4 | |||||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 61.4 | 60.4 | 121.8 | — | 11.2 | — | 133.0 | |||||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 97.3 | 68.4 | 165.7 | 88.1 | (18.1) | — | 235.7 | |||||||||||||||||||||||||||||||||||||
| Services revenues | 178.7 | — | 178.7 | (94.6) | — | (84.1) | — | |||||||||||||||||||||||||||||||||||||
| Services expenses | 141.2 | — | 141.2 | — | — | (141.2) | — | |||||||||||||||||||||||||||||||||||||
| Net services fee income | 37.5 | — | 37.5 | (94.6) | — | 57.1 | — | |||||||||||||||||||||||||||||||||||||
| Services noncontrolling loss | 0.2 | — | 0.2 | — | — | (0.2) | — | |||||||||||||||||||||||||||||||||||||
| Net services income | 37.7 | — | 37.7 | (94.6) | — | 56.9 | — | |||||||||||||||||||||||||||||||||||||
| Segment income (loss) | 135.0 | 68.4 | 203.4 | (6.5) | (18.1) | 56.9 | 235.7 | |||||||||||||||||||||||||||||||||||||
| Net investment income | 205.9 | — | 205.9 | |||||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 6.6 | — | 6.6 | |||||||||||||||||||||||||||||||||||||||||
| Other revenues | 8.4 | 84.1 | 92.5 | |||||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (52.8) | (141.2) | (194.0) | |||||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (8.5) | — | (8.5) | |||||||||||||||||||||||||||||||||||||||||
| Interest expense | (60.2) | — | (60.2) | |||||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (16.9) | — | (16.9) | |||||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 135.0 | $ | 68.4 | 203.4 | (6.5) | 64.4 | (0.2) | 261.1 | |||||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (45.1) | — | (45.1) | |||||||||||||||||||||||||||||||||||||||
| Net income | 203.4 | (6.5) | 19.3 | (0.2) | 216.0 | |||||||||||||||||||||||||||||||||||||||
| Net income attributable to noncontrolling interest | — | — | (0.6) | 0.2 | (0.4) | |||||||||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint | $ | 203.4 | $ | (6.5) | $ | 18.7 | $ | — | $ | 215.6 | ||||||||||||||||||||||||||||||||||
| Attritional losses | $ | 661.3 | $ | 470.1 | $ | 1,131.4 | $ | (5.0) | $ | 5.3 | $ | — | $ | 1,131.7 | ||||||||||||||||||||||||||||||
| Catastrophe losses | 4.8 | 62.6 | 67.4 | — | — | — | 67.4 | |||||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (21.7) | (35.5) | (57.2) | — | 5.4 | — | (51.8) | |||||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 644.4 | $ | 497.2 | $ | 1,141.6 | $ | (5.0) | $ | 10.7 | $ | — | $ | 1,147.3 | ||||||||||||||||||||||||||||||
Underwriting Ratios: (1) | ||||||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 60.9 | % | 56.7 | % | 59.1 | % | 58.8 | % | ||||||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | 0.4 | % | 7.6 | % | 3.5 | % | 3.5 | % | ||||||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (2.0) | % | (4.3) | % | (3.0) | % | (2.7) | % | ||||||||||||||||||||||||||||||||||||
| Loss ratio | 59.3 | % | 60.0 | % | 59.6 | % | 59.6 | % | ||||||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 26.1 | % | 24.4 | % | 25.4 | % | 21.3 | % | ||||||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 5.7 | % | 7.3 | % | 6.4 | % | 6.9 | % | ||||||||||||||||||||||||||||||||||||
| Combined ratio | 91.1 | % | 91.7 | % | 91.4 | % | 87.8 | % | ||||||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
12
SIRIUSPOINT LTD.
NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS & OTHER FINANCIAL MEASURES
Non-GAAP Financial Measures
Core Results
Collectively, the sum of the Company's two segments, Insurance & Services and Reinsurance, constitute "Core" results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. We believe it is useful to review Core results as they reflect how management views the business and reflects our decision to exit the run-off business. The sum of Core results and Corporate results are equal to the consolidated results of operations.
Core underwriting income - calculated by subtracting loss and loss adjustment expenses incurred, net, acquisition costs, net, and other underwriting expenses from net premiums earned.
Core net services income - consists of services revenues which include commissions, brokerage and fee income related to consolidated MGAs, and other revenues, as well as services expenses which include direct expenses related to consolidated MGAs and services noncontrolling income which represent minority ownership interests in consolidated MGAs. Net services income is a key indicator of the profitability of the Company's services provided.
Core income - consists of two components, core underwriting income and core net services income. Core income is a key measure of our segment performance.
Core combined ratio - calculated by dividing the sum of Core loss and loss adjustment expenses incurred, net, acquisition costs, net and other underwriting expenses by Core net premiums earned. Accident year loss ratio and accident year combined ratio are calculated by excluding prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the Core loss ratio and Core combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount. These ratios are useful indicators of our underwriting profitability.
13
Book Value Per Diluted Common Share Metrics
Book value per diluted common share excluding AOCI and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per diluted common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Tangible book value per diluted common share excludes goodwill and intangible assets. Management believes that effects of goodwill and intangible assets make book value comparisons to less acquisitive peer companies less meaningful.
The following table sets forth the computation of book value per common share, book value per diluted common share, book value per diluted common share excluding AOCI, and tangible book value per diluted common share as of September 30, 2026 and December 31, 2025:
| September 30, 2026 | December 31, 2025 | ||||||||||
| ($ in millions, except share and per share amounts) | |||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders | $ | 2,228.3 | $ | 2,269.8 | |||||||
| Accumulated other comprehensive income (loss), net of tax | (135.9) | 61.9 | |||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI | 2,364.2 | 2,207.9 | |||||||||
| Intangible assets | 158.8 | 121.2 | |||||||||
| Goodwill | 46.0 | — | |||||||||
| Tangible common shareholders' equity attributable to SiriusPoint common shareholders | $ | 2,023.5 | $ | 2,148.6 | |||||||
| Common shares outstanding | 115,032,060 | 116,989,799 | |||||||||
| Effect of dilutive stock options and restricted share units | 1,949,637 | 4,983,345 | |||||||||
| Book value per diluted common share denominator | 116,981,697 | 121,973,144 | |||||||||
| Book value per common share | $ | 19.37 | $ | 19.40 | |||||||
| Book value per diluted common share | $ | 19.05 | $ | 18.61 | |||||||
| Book value per diluted common share ex. AOCI | $ | 20.21 | $ | 18.10 | |||||||
| Tangible book value per diluted common share | $ | 17.30 | $ | 17.62 | |||||||
14
Operating and Core Operating Metrics
Operating net income, Core Operating net income, Operating earnings per share and Core Operating earnings per share are non-GAAP financial measures and the most directly comparable U.S. GAAP measures are net income and diluted earnings per share. Operating net income excludes items which we believe are not indicative of the operations of our operating businesses, including realized and unrealized gains (losses) on other investments and liability-classified capital instruments, non-recurring costs associated with acquisitions or sales of subsidiaries, income (expense) related to loss portfolio transfers, deferred tax assets attributable to the enactment of the Bermuda corporate income tax, development on COVID-19 reserves resulting from the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024, amortization of acquisition-related intangible assets, and foreign exchange gains (losses). Core Operating net income also excludes the Corporate (run-off) business. We believe it is useful to review Operating net income and Core Operating net income as they reflect how we view the business, as well as provides investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Operating ROE is calculated by dividing annualized Operating net income for the period by average common shareholders’ equity, excluding AOCI, and after adjusting for the above noted items to arrive at Operating net income. Core Operating ROE also excludes the results of the Corporate (run-off) business. Prior-period results have been recast to reflect current period presentation.
The following table sets forth the computation of Operating net income, Core Operating net income, Operating earnings per share and Core Operating earnings per share for the three and nine months ended September 30, 2026 and 2025:
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| ($ in millions, except share and per share amounts) | |||||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 86.8 | $ | 255.0 | $ | 203.6 | |||||||||||||||
| Adjustments: | |||||||||||||||||||||||
| Gain on sale or deconsolidation of consolidated MGAs | — | — | (25.2) | — | |||||||||||||||||||
| (Gains) losses on other investments | 6.6 | (1.1) | 14.8 | (0.6) | |||||||||||||||||||
| MGA & other investment rationalization | 6.6 | (1.1) | (10.4) | (0.6) | |||||||||||||||||||
| Expense related to loss portfolio transfers | 5.1 | 7.7 | 16.0 | 20.2 | |||||||||||||||||||
| Foreign exchange (gains) losses | 3.2 | 2.4 | 2.7 | 16.9 | |||||||||||||||||||
| Amortization of acquisition-related intangible assets | 2.5 | 2.8 | 7.5 | 8.5 | |||||||||||||||||||
| Other non-recurring items | 2.8 | (11.0) | 11.8 | (11.0) | |||||||||||||||||||
Income tax expense on adjustments (1) | (3.8) | (0.2) | (10.0) | (6.5) | |||||||||||||||||||
| Operating net income | 103.2 | 87.4 | 272.6 | 231.1 | |||||||||||||||||||
| Corporate (run-off) underwriting results | 3.2 | 6.6 | 26.0 | 18.1 | |||||||||||||||||||
Income tax expense on adjustments (1) | (0.6) | (1.3) | (5.0) | (3.4) | |||||||||||||||||||
| Core Operating net income | $ | 105.8 | $ | 92.7 | $ | 293.6 | $ | 245.8 | |||||||||||||||
| Weighted average number of diluted common shares used in the determination of earnings per share | 117,166,671 | 118,817,903 | 119,150,790 | 118,655,606 | |||||||||||||||||||
| Operating diluted earnings per share | $ | 0.88 | $ | 0.74 | $ | 2.29 | $ | 1.95 | |||||||||||||||
| Core Operating diluted earnings per share | $ | 0.90 | $ | 0.78 | $ | 2.46 | $ | 2.07 | |||||||||||||||
(1) For the three and nine months ended September 30, 2026 and 2025, an effective tax rate of 19% is applied to the above adjustments to calculate the income tax expense, where applicable. Periods may have a different effective tax rate based on the jurisdiction of specific transactions.
15
The following table sets forth the computation of Operating Return on Average Common Shareholders’ Equity for the three and nine months ended September 30, 2026 and 2025:
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| ($ in millions, except for ratios) | |||||||||||||||||||||||
| Operating net income | $ | 103.2 | $ | 87.4 | $ | 272.6 | $ | 231.1 | |||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period | 2,275.9 | 1,905.7 | 2,269.8 | 1,737.4 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - beginning of period | (21.3) | 46.5 | 61.9 | (4.1) | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period | 2,297.2 | 1,859.2 | 2,207.9 | 1,741.5 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period | 2,228.3 | 2,009.9 | 2,228.3 | 2,009.9 | |||||||||||||||||||
| Adjustments to net income to arrive at Operating net income | 16.4 | 0.6 | 17.6 | 27.5 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - end of period | (135.9) | 52.3 | (135.9) | 52.3 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period | 2,380.6 | 1,958.2 | 2,381.8 | 1,985.1 | |||||||||||||||||||
| Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI | $ | 2,338.9 | $ | 1,908.7 | $ | 2,294.9 | $ | 1,863.3 | |||||||||||||||
| Annualized Operating ROE | 17.6 | % | 18.3 | % | 15.8 | % | 16.5 | % | |||||||||||||||
The following table sets forth the computation of Core Operating Return on Average Common Shareholders’ Equity for the three and nine months ended September 30, 2026 and 2025:
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| ($ in millions, except for ratios) | |||||||||||||||||||||||
| Core Operating net income | $ | 105.8 | $ | 92.7 | $ | 293.6 | $ | 245.8 | |||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period | 2,275.9 | 1,905.7 | 2,269.8 | 1,737.4 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - beginning of period | (21.3) | 46.5 | 61.9 | (4.1) | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period | 2,297.2 | 1,859.2 | 2,207.9 | 1,741.5 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period | 2,228.3 | 2,009.9 | 2,228.3 | 2,009.9 | |||||||||||||||||||
| Adjustments to net income to arrive at Core Operating net income | 19.0 | 5.9 | 38.6 | 42.2 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - end of period | (135.9) | 52.3 | (135.9) | 52.3 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period | 2,383.2 | 1,963.5 | 2,402.8 | 1,999.8 | |||||||||||||||||||
| Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI | $ | 2,340.2 | $ | 1,911.4 | $ | 2,305.4 | $ | 1,870.7 | |||||||||||||||
| Annualized Core Operating ROE | 18.1 | % | 19.4 | % | 17.0 | % | 17.5 | % | |||||||||||||||
Other Financial Measures
Annualized Return on Average Common Shareholders’ Equity Attributable to SiriusPoint Common Shareholders
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period.
16
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders for the three and nine months ended September 30, 2026 and 2025 was calculated as follows:
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
($ in millions, except for ratios) | |||||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 86.8 | $ | 255.0 | $ | 203.6 | |||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period | 2,275.9 | 1,905.7 | 2,269.8 | 1,737.4 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period | 2,228.3 | 2,009.9 | 2,228.3 | 2,009.9 | |||||||||||||||||||
| Average common shareholders’ equity attributable to SiriusPoint common shareholders | $ | 2,252.1 | $ | 1,957.8 | $ | 2,249.1 | $ | 1,873.7 | |||||||||||||||
| Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders | 15.4 | % | 17.7 | % | 15.1 | % | 14.5 | % | |||||||||||||||
17
SiriusPoint Ltd.
Financial Supplement
September 30, 2026
(UNAUDITED)
This financial supplement is for informational purposes only. It should be read in conjunction with documents filed with the Securities and Exchange Commission by SiriusPoint Ltd., including the Company’s Quarterly Report on Form 10-Q.
| Point Building | Liam Blackledge - Investor Relations and Strategy Manager | |||||||
| 3 Waterloo Lane | Tel: + 44 203 772 3082 | |||||||
| Pembroke HM 08 | Email: investor.relations@siriuspt.com | |||||||
| Bermuda | Website: www.siriuspt.com | |||||||
SiriusPoint Ltd.
Basis of Presentation and Non-GAAP Financial Measures:
Unless the context otherwise indicates or requires, as used in this financial supplement references to “we,” “our,” “us,” the “Company,” and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclusive of its subsidiaries. We have made rounding adjustments to reach some of the figures included in this financial supplement and, unless otherwise indicated, percentages presented in this financial supplement are approximate.
In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio, attritional loss ratio and combined ratio ex. catastrophe losses are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the run-off business. Book value per diluted common share excluding accumulated other comprehensive income (loss) ("AOCI") and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per diluted common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Management believes the effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. Operating net income, Core Operating net income, Operating earnings per share and Core Operating earnings per share are non-GAAP financial measures and the most directly comparable U.S. GAAP measures are net income and diluted earnings per share. Operating net income excludes items which we believe are not indicative of the operations of our operating businesses, including realized and unrealized gains (losses) on other investments and liability-classified capital instruments, non-recurring costs associated with acquisitions or sales of subsidiaries, income (expense) related to loss portfolio transfers, deferred tax assets attributable to the enactment of the Bermuda corporate income tax, development on COVID-19 reserves resulting from the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024, amortization of acquisition-related intangible assets, and foreign exchange gains (losses). Core Operating net income also excludes the Corporate (run-off) business. We believe it is useful to review Operating net income and Core Operating net income as they reflect how we view the business, as well as provides investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Operating ROE is calculated by dividing annualized Operating net income for the period by average common shareholders’ equity, excluding AOCI, and after adjusting for the above noted items to arrive at Operating net income. Core Operating ROE also excludes the results of the Corporate (run-off) business. Prior-period results have been recast to reflect current period presentation. Reconciliations and definitions of such measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.
Safe Harbor Statement Regarding Forward-Looking Statements:
This financial supplement includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this financial supplement is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this financial supplement. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. Actual events, results and outcomes may differ materially from the Company’s expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: These risks and uncertainties include, but are not limited to, the "Risk Factors" described in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission.
Page 2 of 23
SiriusPoint Ltd.
Table of Contents
| Key Financial Metrics | ||||||||
| Consolidated Financial Statements | ||||||||
| Consolidated Statements of Income | ||||||||
| Consolidated Statements of Income - by Quarter | ||||||||
| Operating Segment Information | ||||||||
| Segment Reporting - Three months ended September 30, 2026 | ||||||||
| Segment Reporting - Three months ended September 30, 2025 | ||||||||
| Segment Reporting - Nine months ended September 30, 2026 | ||||||||
| Segment Reporting - Nine months ended September 30, 2025 | ||||||||
Consolidated Results - by Quarter | ||||||||
Core Results - by Quarter | ||||||||
Insurance & Services Segment - by Quarter | ||||||||
Reinsurance Segment - by Quarter | ||||||||
| Investments | ||||||||
| Other | ||||||||
| Earnings per Share - by Quarter | ||||||||
| Annualized Return on Average Common Shareholders’ Equity - by Quarter | ||||||||
| Book Value per Share - by Quarter | ||||||||
| Net Corporate and Other Expenses - by Quarter | ||||||||
Operating and Core Operating Net Income and Earnings per Share | ||||||||
Operating and Core Operating Return on Average Common Shareholders’ Equity | ||||||||
Page 3 of 23
SiriusPoint Ltd.
Key Financial Metrics
September 30, 2026 and 2025
(expressed in millions of U.S. dollars, except per share data and ratios)
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| ($ in millions, except for ratios) | |||||||||||||||||||||||
| Combined ratio | 86.5 | % | 85.9 | % | 87.6 | % | 87.8 | % | |||||||||||||||
Core combined ratio (1) | 90.1 | % | 89.1 | % | 90.1 | % | 91.4 | % | |||||||||||||||
Core underwriting income (1) | $ | 75.9 | $ | 69.6 | $ | 201.8 | $ | 165.7 | |||||||||||||||
Core net services income (1) | $ | 11.9 | $ | 10.1 | $ | 30.2 | $ | 37.7 | |||||||||||||||
Operating net income (1) | $ | 103.2 | $ | 87.4 | $ | 272.6 | $ | 231.1 | |||||||||||||||
Operating earnings per share (1) | $ | 0.88 | $ | 0.74 | $ | 2.29 | $ | 1.95 | |||||||||||||||
| Annualized ROE | 15.4 | % | 17.7 | % | 15.1 | % | 14.5 | % | |||||||||||||||
Annualized Operating ROE (1) | 17.6 | % | 18.3 | % | 15.8 | % | 16.5 | % | |||||||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| Book value per common share | $ | 19.37 | $ | 19.40 | |||||||
| Book value per diluted common share | $ | 19.05 | $ | 18.61 | |||||||
Book value per diluted common share ex. AOCI (1) | $ | 20.21 | $ | 18.10 | |||||||
Tangible book value per diluted common share (1) | $ | 17.30 | $ | 17.62 | |||||||
(1)Core combined ratio, Core underwriting income, and Core net services income are non-GAAP financial measures. See reconciliations in “Segment Reporting.” Operating net income, Operating earnings per share, and Annualized Operating ROE are non-GAAP financial measures. See reconciliations in “Operating net income and Operating earnings per share" and "Operating ROE." Book value per diluted common share ex. AOCI and tangible book value per diluted common share are non-GAAP financial measures. See reconciliation in “Book Value per Share - by Quarter.”
Page 4 of 23
SiriusPoint Ltd.
Consolidated Balance Sheets - by Quarter
(expressed in millions of U.S. dollars)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||
| Debt securities, available for sale, at fair value, net of allowance for credit losses | $ | 5,364.8 | $ | 5,156.9 | $ | 4,892.9 | $ | 5,168.6 | $ | 5,145.6 | ||||||||||||||||||||||
| Debt securities, trading, at fair value | 55.3 | 64.8 | 86.0 | 90.3 | 98.7 | |||||||||||||||||||||||||||
| Short-term investments, at fair value | 17.1 | 7.5 | 32.5 | 28.3 | 24.6 | |||||||||||||||||||||||||||
| Other long-term investments, at fair value | 276.5 | 285.8 | 295.4 | 315.1 | 318.3 | |||||||||||||||||||||||||||
| Total investments | 5,713.7 | 5,515.0 | 5,306.8 | 5,602.3 | 5,587.2 | |||||||||||||||||||||||||||
| Cash and cash equivalents | 434.3 | 614.8 | 856.9 | 731.2 | 582.4 | |||||||||||||||||||||||||||
| Restricted cash and cash equivalents | 127.4 | 131.1 | 153.8 | 171.2 | 135.3 | |||||||||||||||||||||||||||
| Due from brokers | 6.5 | 32.6 | 40.1 | 7.5 | 10.0 | |||||||||||||||||||||||||||
| Interest and dividends receivable | 46.2 | 44.2 | 41.4 | 47.1 | 43.9 | |||||||||||||||||||||||||||
Insurance and reinsurance balances receivable, net | 2,558.9 | 2,606.7 | 2,420.8 | 2,260.3 | 2,291.4 | |||||||||||||||||||||||||||
| Deferred acquisition costs, net | 397.7 | 408.7 | 403.4 | 384.1 | 381.1 | |||||||||||||||||||||||||||
| Unearned premiums ceded | 649.2 | 630.7 | 573.3 | 487.4 | 487.1 | |||||||||||||||||||||||||||
| Loss and loss adjustment expenses recoverable, net | 1,966.4 | 1,991.4 | 2,020.2 | 2,102.3 | 2,162.9 | |||||||||||||||||||||||||||
| Deferred tax asset | 280.5 | 267.4 | 256.7 | 267.7 | 282.2 | |||||||||||||||||||||||||||
| Goodwill | 46.0 | 18.6 | 18.6 | — | — | |||||||||||||||||||||||||||
| Intangible assets | 158.8 | 137.4 | 139.8 | 121.2 | 123.6 | |||||||||||||||||||||||||||
| Other assets | 236.7 | 253.1 | 251.2 | 272.1 | 330.0 | |||||||||||||||||||||||||||
| Assets held for sale | — | — | — | 115.2 | 43.1 | |||||||||||||||||||||||||||
| Total assets | $ | 12,622.3 | $ | 12,651.7 | $ | 12,483.0 | $ | 12,569.6 | $ | 12,460.2 | ||||||||||||||||||||||
| Liabilities | ||||||||||||||||||||||||||||||||
| Loss and loss adjustment expense reserves | $ | 5,816.7 | $ | 5,750.3 | $ | 5,732.7 | $ | 5,782.5 | $ | 5,811.7 | ||||||||||||||||||||||
| Unearned premium reserves | 2,050.6 | 2,119.7 | 1,991.2 | 1,855.4 | 1,867.9 | |||||||||||||||||||||||||||
| Reinsurance balances payable | 1,472.5 | 1,461.3 | 1,455.0 | 1,447.6 | 1,492.1 | |||||||||||||||||||||||||||
| Debt | 667.5 | 675.5 | 679.6 | 688.6 | 682.5 | |||||||||||||||||||||||||||
| Due to brokers | 48.9 | 23.3 | 3.4 | 5.5 | 27.5 | |||||||||||||||||||||||||||
| Deferred tax liability | 67.8 | 73.1 | 73.4 | 73.0 | 78.5 | |||||||||||||||||||||||||||
| Liabilities held for sale | — | — | — | — | 25.8 | |||||||||||||||||||||||||||
| Other liabilities | 268.9 | 271.8 | 244.3 | 246.1 | 263.2 | |||||||||||||||||||||||||||
| Total liabilities | 10,392.9 | 10,375.0 | 10,179.6 | 10,098.7 | 10,249.2 | |||||||||||||||||||||||||||
| Commitments and contingent liabilities | ||||||||||||||||||||||||||||||||
| Shareholders’ equity | ||||||||||||||||||||||||||||||||
| Series B preference shares | — | — | — | 200.0 | 200.0 | |||||||||||||||||||||||||||
| Common shares | 11.5 | 11.6 | 11.6 | 11.7 | 11.7 | |||||||||||||||||||||||||||
| Additional paid-in capital | 869.2 | 888.9 | 956.4 | 967.7 | 957.4 | |||||||||||||||||||||||||||
| Retained earnings | 1,483.5 | 1,396.7 | 1,328.1 | 1,228.5 | 988.5 | |||||||||||||||||||||||||||
| Accumulated other comprehensive income (loss), net of tax | (135.9) | (21.3) | 6.3 | 61.9 | 52.3 | |||||||||||||||||||||||||||
| Shareholders’ equity attributable to SiriusPoint shareholders | 2,228.3 | 2,275.9 | 2,302.4 | 2,469.8 | 2,209.9 | |||||||||||||||||||||||||||
| Noncontrolling interests | 1.1 | 0.8 | 1.0 | 1.1 | 1.1 | |||||||||||||||||||||||||||
| Total shareholders’ equity | 2,229.4 | 2,276.7 | 2,303.4 | 2,470.9 | 2,211.0 | |||||||||||||||||||||||||||
| Total liabilities, noncontrolling interests and shareholders’ equity | $ | 12,622.3 | $ | 12,651.7 | $ | 12,483.0 | $ | 12,569.6 | $ | 12,460.2 | ||||||||||||||||||||||
Page 5 of 23
SiriusPoint Ltd.
Consolidated Statements of Income
(expressed in millions of U.S. dollars, except share and per share data)
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Net earned premium | $ | 767.6 | $ | 647.7 | $ | 2,046.8 | $ | 1,926.4 | |||||||||||||||
| Net investment income | 65.9 | 66.5 | 197.8 | 205.9 | |||||||||||||||||||
| Net investment gains (losses) | 3.3 | 6.2 | 22.6 | 6.6 | |||||||||||||||||||
| Other revenues | 30.8 | 35.5 | 119.1 | 92.5 | |||||||||||||||||||
| Total revenues | 867.6 | 755.9 | 2,386.3 | 2,231.4 | |||||||||||||||||||
| Expenses | |||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 415.9 | 372.9 | 1,137.0 | 1,147.3 | |||||||||||||||||||
| Acquisition costs, net | 195.2 | 139.8 | 499.8 | 410.4 | |||||||||||||||||||
| Other underwriting expenses | 53.0 | 43.6 | 155.3 | 133.0 | |||||||||||||||||||
| Net corporate and other expenses | 75.7 | 62.5 | 220.6 | 194.0 | |||||||||||||||||||
| Intangible asset amortization | 2.5 | 2.8 | 7.5 | 8.5 | |||||||||||||||||||
| Interest expense | 18.4 | 21.0 | 53.9 | 60.2 | |||||||||||||||||||
| Foreign exchange losses | 3.2 | 2.4 | 2.7 | 16.9 | |||||||||||||||||||
| Total expenses | 763.9 | 645.0 | 2,076.8 | 1,970.3 | |||||||||||||||||||
| Income before income tax expense | 103.7 | 110.9 | 309.5 | 261.1 | |||||||||||||||||||
| Income tax expense | (16.7) | (20.2) | (51.7) | (45.1) | |||||||||||||||||||
| Net income | 87.0 | 90.7 | 257.8 | 216.0 | |||||||||||||||||||
| Net (income) loss attributable to noncontrolling interests | (0.2) | 0.1 | (0.2) | (0.4) | |||||||||||||||||||
| Net income available to SiriusPoint | 86.8 | 90.8 | 257.6 | 215.6 | |||||||||||||||||||
| Dividends on Series B preference shares | — | (4.0) | (2.6) | (12.0) | |||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 86.8 | $ | 255.0 | $ | 203.6 | |||||||||||||||
| Earnings per share available to SiriusPoint common shareholders | |||||||||||||||||||||||
| Basic earnings per share available to SiriusPoint common shareholders ⁽¹⁾ | $ | 0.75 | $ | 0.74 | $ | 2.19 | $ | 1.75 | |||||||||||||||
| Diluted earnings per share available to SiriusPoint common shareholders ⁽¹⁾ | $ | 0.74 | $ | 0.73 | $ | 2.14 | $ | 1.71 | |||||||||||||||
| Weighted average number of common shares used in the determination of earnings per share | |||||||||||||||||||||||
| Basic | 115,135,159 | 116,726,540 | 116,191,819 | 116,412,996 | |||||||||||||||||||
| Diluted | 117,166,671 | 118,817,903 | 119,150,790 | 118,655,606 | |||||||||||||||||||
(1) Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.
Page 6 of 23
SiriusPoint Ltd.
Consolidated Statements of Income - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Net earned premium | $ | 767.6 | $ | 640.3 | $ | 638.9 | $ | 667.4 | $ | 647.7 | |||||||||||||||||||
| Net investment income | 65.9 | 65.5 | 66.4 | 68.9 | 66.5 | ||||||||||||||||||||||||
| Net investment gains (losses) | 3.3 | 7.9 | 11.4 | (9.5) | 6.2 | ||||||||||||||||||||||||
| Other revenues | 30.8 | 30.4 | 57.9 | 246.9 | 35.5 | ||||||||||||||||||||||||
| Total revenues | 867.6 | 744.1 | 774.6 | 973.7 | 755.9 | ||||||||||||||||||||||||
| Expenses | |||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 415.9 | 358.2 | 362.9 | 372.2 | 372.9 | ||||||||||||||||||||||||
| Acquisition costs, net | 195.2 | 156.8 | 147.8 | 173.2 | 139.8 | ||||||||||||||||||||||||
| Other underwriting expenses | 53.0 | 51.8 | 50.5 | 54.9 | 43.6 | ||||||||||||||||||||||||
| Net corporate and other expenses | 75.7 | 73.7 | 71.2 | 63.0 | 62.5 | ||||||||||||||||||||||||
| Intangible asset amortization | 2.5 | 2.4 | 2.6 | 2.4 | 2.8 | ||||||||||||||||||||||||
| Interest expense | 18.4 | 18.7 | 16.8 | 19.5 | 21.0 | ||||||||||||||||||||||||
| Foreign exchange (gains) losses | 3.2 | (1.8) | 1.3 | 8.3 | 2.4 | ||||||||||||||||||||||||
| Total expenses | 763.9 | 659.8 | 653.1 | 693.5 | 645.0 | ||||||||||||||||||||||||
| Income before income tax expense | 103.7 | 84.3 | 121.5 | 280.2 | 110.9 | ||||||||||||||||||||||||
| Income tax expense | (16.7) | (15.8) | (19.2) | (36.1) | (20.2) | ||||||||||||||||||||||||
| Net income | 87.0 | 68.5 | 102.3 | 244.1 | 90.7 | ||||||||||||||||||||||||
| Net (income) loss attributable to noncontrolling interests | (0.2) | 0.1 | (0.1) | (0.1) | 0.1 | ||||||||||||||||||||||||
| Net income available to SiriusPoint | 86.8 | 68.6 | 102.2 | 244.0 | 90.8 | ||||||||||||||||||||||||
| Dividends on Series B preference shares | — | — | (2.6) | (4.0) | (4.0) | ||||||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 68.6 | $ | 99.6 | $ | 240.0 | $ | 86.8 | |||||||||||||||||||
| Earnings per share available to SiriusPoint common shareholders | |||||||||||||||||||||||||||||
| Basic earnings per share available to SiriusPoint common shareholders ⁽¹⁾ | $ | 0.75 | $ | 0.59 | $ | 0.85 | $ | 2.05 | $ | 0.74 | |||||||||||||||||||
| Diluted earnings per share available to SiriusPoint common shareholders ⁽¹⁾ | $ | 0.74 | $ | 0.58 | $ | 0.82 | $ | 1.97 | $ | 0.73 | |||||||||||||||||||
| Weighted average number of common shares used in the determination of earnings per share | |||||||||||||||||||||||||||||
| Basic | 115,135,159 | 116,732,354 | 116,725,419 | 116,788,646 | 116,726,540 | ||||||||||||||||||||||||
| Diluted | 117,166,671 | 119,011,731 | 121,695,056 | 121,838,966 | 118,817,903 | ||||||||||||||||||||||||
(1) Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.
Page 7 of 23
SiriusPoint Ltd.
Consolidated Statements of Comprehensive Income - by Quarter
(expressed in millions of U.S. dollars)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Comprehensive income (loss) | ||||||||||||||||||||||||||||||||
| Net income | $ | 87.0 | $ | 68.5 | $ | 102.3 | $ | 244.1 | $ | 90.7 | ||||||||||||||||||||||
| Other comprehensive income (loss), net of tax | ||||||||||||||||||||||||||||||||
| Change in foreign currency translation adjustments | 0.2 | (1.6) | (5.3) | 2.2 | (3.3) | |||||||||||||||||||||||||||
| Unrealized gains (losses) from debt securities held as available for sale investments | (104.9) | (27.8) | (57.3) | 6.1 | 2.2 | |||||||||||||||||||||||||||
| Reclassifications from accumulated other comprehensive income (loss) | (9.9) | 1.8 | 7.0 | 1.3 | 6.9 | |||||||||||||||||||||||||||
| Total other comprehensive income (loss) | (114.6) | (27.6) | (55.6) | 9.6 | 5.8 | |||||||||||||||||||||||||||
| Comprehensive income (loss) | (27.6) | 40.9 | 46.7 | 253.7 | 96.5 | |||||||||||||||||||||||||||
| Net (income) loss attributable to noncontrolling interests | (0.2) | 0.1 | (0.1) | (0.1) | 0.1 | |||||||||||||||||||||||||||
| Comprehensive income (loss) available to SiriusPoint | $ | (27.8) | $ | 41.0 | $ | 46.6 | $ | 253.6 | $ | 96.6 | ||||||||||||||||||||||
Page 8 of 23
SiriusPoint Ltd.
Segment Reporting - Three months ended September 30, 2026
(expressed in millions of U.S. dollars, except ratios)
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | |||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 673.0 | $ | 317.6 | $ | 990.6 | $ | — | $ | 4.3 | $ | — | $ | 994.9 | |||||||||||||||||||||||||||
| Net written premium | 403.5 | 275.2 | 678.7 | — | 1.7 | — | 680.4 | ||||||||||||||||||||||||||||||||||
| Net earned premium | 460.8 | 304.0 | 764.8 | — | 2.8 | — | 767.6 | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 263.6 | 154.0 | 417.6 | (2.1) | 0.4 | — | 415.9 | ||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 136.9 | 86.2 | 223.1 | (28.7) | 0.8 | — | 195.2 | ||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 27.3 | 20.9 | 48.2 | — | 4.8 | — | 53.0 | ||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 33.0 | 42.9 | 75.9 | 30.8 | (3.2) | — | 103.5 | ||||||||||||||||||||||||||||||||||
| Services revenues | 61.5 | — | 61.5 | (31.2) | — | (30.3) | — | ||||||||||||||||||||||||||||||||||
| Services expenses | 49.4 | — | 49.4 | — | — | (49.4) | — | ||||||||||||||||||||||||||||||||||
| Net services fee income | 12.1 | — | 12.1 | (31.2) | — | 19.1 | — | ||||||||||||||||||||||||||||||||||
| Services noncontrolling income | (0.2) | — | (0.2) | — | — | 0.2 | — | ||||||||||||||||||||||||||||||||||
| Net services income | 11.9 | — | 11.9 | (31.2) | — | 19.3 | — | ||||||||||||||||||||||||||||||||||
| Segment income (loss) | 44.9 | 42.9 | 87.8 | (0.4) | (3.2) | 19.3 | 103.5 | ||||||||||||||||||||||||||||||||||
| Net investment income | 65.9 | — | 65.9 | ||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 3.3 | — | 3.3 | ||||||||||||||||||||||||||||||||||||||
| Other revenues | 0.5 | 30.3 | 30.8 | ||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (26.3) | (49.4) | (75.7) | ||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (2.5) | — | (2.5) | ||||||||||||||||||||||||||||||||||||||
| Interest expense | (18.4) | — | (18.4) | ||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (3.2) | — | (3.2) | ||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 44.9 | $ | 42.9 | 87.8 | (0.4) | 16.1 | 0.2 | 103.7 | ||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (16.7) | — | (16.7) | ||||||||||||||||||||||||||||||||||||
| Net income (loss) | 87.8 | (0.4) | (0.6) | 0.2 | 87.0 | ||||||||||||||||||||||||||||||||||||
| Net (income) loss attributable to noncontrolling interest | — | — | — | (0.2) | (0.2) | ||||||||||||||||||||||||||||||||||||
| Net income (loss) available to SiriusPoint | $ | 87.8 | $ | (0.4) | $ | (0.6) | $ | — | $ | 86.8 | |||||||||||||||||||||||||||||||
| Attritional losses | $ | 272.7 | $ | 163.2 | $ | 435.9 | $ | (2.1) | $ | 1.9 | $ | — | $ | 435.7 | |||||||||||||||||||||||||||
| Catastrophe losses | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (9.1) | (9.2) | (18.3) | — | (1.5) | — | (19.8) | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 263.6 | $ | 154.0 | $ | 417.6 | $ | (2.1) | $ | 0.4 | $ | — | $ | 415.9 | |||||||||||||||||||||||||||
Underwriting Ratios: (1) | |||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 59.2 | % | 53.7 | % | 57.0 | % | 56.8 | % | |||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | — | % | — | % | — | % | — | % | |||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (2.0) | % | (3.0) | % | (2.4) | % | (2.6) | % | |||||||||||||||||||||||||||||||||
| Loss ratio | 57.2 | % | 50.7 | % | 54.6 | % | 54.2 | % | |||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 29.7 | % | 28.4 | % | 29.2 | % | 25.4 | % | |||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 5.9 | % | 6.9 | % | 6.3 | % | 6.9 | % | |||||||||||||||||||||||||||||||||
Combined ratio | 92.8 | % | 86.0 | % | 90.1 | % | 86.5 | % | |||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
Page 9 of 23
SiriusPoint Ltd.
Segment Reporting - Three months ended September 30, 2025
(expressed in millions of U.S. dollars, except ratios)
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | |||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 562.0 | $ | 309.6 | $ | 871.6 | $ | — | $ | 2.8 | $ | — | $ | 874.4 | |||||||||||||||||||||||||||
| Net written premium | 396.8 | 268.1 | 664.9 | — | 5.4 | — | 670.3 | ||||||||||||||||||||||||||||||||||
| Net earned premium | 381.2 | 262.3 | 643.5 | — | 4.2 | — | 647.7 | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 225.3 | 145.5 | 370.8 | (1.5) | 3.6 | — | 372.9 | ||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 98.3 | 64.7 | 163.0 | (26.9) | 3.7 | — | 139.8 | ||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 19.9 | 20.2 | 40.1 | — | 3.5 | — | 43.6 | ||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 37.7 | 31.9 | 69.6 | 28.4 | (6.6) | — | 91.4 | ||||||||||||||||||||||||||||||||||
| Services revenues | 58.5 | — | 58.5 | (32.7) | — | (25.8) | — | ||||||||||||||||||||||||||||||||||
| Services expenses | 48.5 | — | 48.5 | — | — | (48.5) | — | ||||||||||||||||||||||||||||||||||
| Net services fee income | 10.0 | — | 10.0 | (32.7) | — | 22.7 | — | ||||||||||||||||||||||||||||||||||
| Services noncontrolling loss | 0.1 | — | 0.1 | — | — | (0.1) | — | ||||||||||||||||||||||||||||||||||
| Net services income | 10.1 | — | 10.1 | (32.7) | — | 22.6 | — | ||||||||||||||||||||||||||||||||||
| Segment income (loss) | 47.8 | 31.9 | 79.7 | (4.3) | (6.6) | 22.6 | 91.4 | ||||||||||||||||||||||||||||||||||
| Net investment income | 66.5 | — | 66.5 | ||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 6.2 | — | 6.2 | ||||||||||||||||||||||||||||||||||||||
| Other revenues | 9.7 | 25.8 | 35.5 | ||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (14.0) | (48.5) | (62.5) | ||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (2.8) | — | (2.8) | ||||||||||||||||||||||||||||||||||||||
| Interest expense | (21.0) | — | (21.0) | ||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (2.4) | — | (2.4) | ||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 47.8 | $ | 31.9 | 79.7 | (4.3) | 35.6 | (0.1) | 110.9 | ||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (20.2) | — | (20.2) | ||||||||||||||||||||||||||||||||||||
| Net income | 79.7 | (4.3) | 15.4 | (0.1) | 90.7 | ||||||||||||||||||||||||||||||||||||
| Net loss attributable to noncontrolling interest | — | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint | $ | 79.7 | $ | (4.3) | $ | 15.4 | $ | — | $ | 90.8 | |||||||||||||||||||||||||||||||
| Attritional losses | $ | 234.8 | $ | 145.1 | $ | 379.9 | $ | (1.5) | $ | 3.4 | $ | — | $ | 381.8 | |||||||||||||||||||||||||||
| Catastrophe losses | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (9.5) | 0.4 | (9.1) | — | 0.2 | — | (8.9) | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 225.3 | $ | 145.5 | $ | 370.8 | $ | (1.5) | $ | 3.6 | $ | — | $ | 372.9 | |||||||||||||||||||||||||||
Underwriting Ratios: (1) | |||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 61.6 | % | 55.3 | % | 59.0 | % | 59.0 | % | |||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | — | % | — | % | — | % | — | % | |||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (2.5) | % | 0.2 | % | (1.4) | % | (1.4) | % | |||||||||||||||||||||||||||||||||
| Loss ratio | 59.1 | % | 55.5 | % | 57.6 | % | 57.6 | % | |||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 25.8 | % | 24.7 | % | 25.3 | % | 21.6 | % | |||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 5.2 | % | 7.7 | % | 6.2 | % | 6.7 | % | |||||||||||||||||||||||||||||||||
| Combined ratio | 90.1 | % | 87.9 | % | 89.1 | % | 85.9 | % | |||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
Page 10 of 23
SiriusPoint Ltd.
Segment Reporting - Nine months ended September 30, 2026
(expressed in millions of U.S. dollars, except ratios)
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | |||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 2,002.2 | $ | 973.7 | $ | 2,975.9 | $ | — | $ | 0.1 | $ | — | $ | 2,976.0 | |||||||||||||||||||||||||||
| Net written premium | 1,287.0 | 798.0 | 2,085.0 | — | 0.9 | — | 2,085.9 | ||||||||||||||||||||||||||||||||||
| Net earned premium | 1,222.6 | 819.3 | 2,041.9 | — | 4.9 | — | 2,046.8 | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 695.8 | 428.1 | 1,123.9 | (5.7) | 18.8 | — | 1,137.0 | ||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 349.1 | 225.7 | 574.8 | (73.2) | (1.8) | — | 499.8 | ||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 79.2 | 62.2 | 141.4 | — | 13.9 | — | 155.3 | ||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 98.5 | 103.3 | 201.8 | 78.9 | (26.0) | — | 254.7 | ||||||||||||||||||||||||||||||||||
| Services revenues | 174.9 | — | 174.9 | (84.1) | — | (90.8) | — | ||||||||||||||||||||||||||||||||||
| Services expenses | 145.1 | — | 145.1 | — | — | (145.1) | — | ||||||||||||||||||||||||||||||||||
| Net services fee income | 29.8 | — | 29.8 | (84.1) | — | 54.3 | — | ||||||||||||||||||||||||||||||||||
| Services noncontrolling loss | 0.4 | — | 0.4 | — | — | (0.4) | — | ||||||||||||||||||||||||||||||||||
| Net services income | 30.2 | — | 30.2 | (84.1) | — | 53.9 | — | ||||||||||||||||||||||||||||||||||
| Segment income (loss) | 128.7 | 103.3 | 232.0 | (5.2) | (26.0) | 53.9 | 254.7 | ||||||||||||||||||||||||||||||||||
| Net investment income | 197.8 | — | 197.8 | ||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 22.6 | — | 22.6 | ||||||||||||||||||||||||||||||||||||||
| Other revenues | 28.3 | 90.8 | 119.1 | ||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (75.5) | (145.1) | (220.6) | ||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (7.5) | — | (7.5) | ||||||||||||||||||||||||||||||||||||||
| Interest expense | (53.9) | — | (53.9) | ||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (2.7) | — | (2.7) | ||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 128.7 | $ | 103.3 | 232.0 | (5.2) | 83.1 | (0.4) | 309.5 | ||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (51.7) | — | (51.7) | ||||||||||||||||||||||||||||||||||||
| Net income | 232.0 | (5.2) | 31.4 | (0.4) | 257.8 | ||||||||||||||||||||||||||||||||||||
| Net income attributable to noncontrolling interest | — | — | (0.6) | 0.4 | (0.2) | ||||||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint | $ | 232.0 | $ | (5.2) | $ | 30.8 | $ | — | $ | 257.6 | |||||||||||||||||||||||||||||||
| Attritional losses | $ | 734.8 | $ | 449.6 | $ | 1,184.4 | $ | (5.7) | $ | 4.3 | $ | — | $ | 1,183.0 | |||||||||||||||||||||||||||
| Catastrophe losses | 1.3 | 5.4 | 6.7 | — | — | — | 6.7 | ||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (40.3) | (26.9) | (67.2) | — | 14.5 | — | (52.7) | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 695.8 | $ | 428.1 | $ | 1,123.9 | $ | (5.7) | $ | 18.8 | $ | — | $ | 1,137.0 | |||||||||||||||||||||||||||
Underwriting Ratios: (1) | |||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 60.1 | % | 54.9 | % | 58.0 | % | 57.9 | % | |||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | 0.1 | % | 0.7 | % | 0.3 | % | 0.3 | % | |||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (3.3) | % | (3.3) | % | (3.3) | % | (2.6) | % | |||||||||||||||||||||||||||||||||
| Loss ratio | 56.9 | % | 52.3 | % | 55.0 | % | 55.6 | % | |||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 28.6 | % | 27.5 | % | 28.2 | % | 24.4 | % | |||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 6.5 | % | 7.6 | % | 6.9 | % | 7.6 | % | |||||||||||||||||||||||||||||||||
Combined ratio | 92.0 | % | 87.4 | % | 90.1 | % | 87.6 | % | |||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
Page 11 of 23
SiriusPoint Ltd.
Segment Reporting - Nine months ended September 30, 2025
(expressed in millions of U.S. dollars, except ratios)
| Insurance & Services | Reinsurance | Core | Eliminations (2) | Corporate | Segment Measure Reclass | Total | |||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 1,757.5 | $ | 1,034.1 | $ | 2,791.6 | $ | — | $ | 15.7 | $ | — | $ | 2,807.3 | |||||||||||||||||||||||||||
| Net written premium | 1,273.1 | 843.6 | 2,116.7 | — | 1.0 | — | 2,117.7 | ||||||||||||||||||||||||||||||||||
| Net earned premium | 1,086.6 | 828.3 | 1,914.9 | — | 11.5 | — | 1,926.4 | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 644.4 | 497.2 | 1,141.6 | (5.0) | 10.7 | — | 1,147.3 | ||||||||||||||||||||||||||||||||||
| Acquisition costs, net | 283.5 | 202.3 | 485.8 | (83.1) | 7.7 | — | 410.4 | ||||||||||||||||||||||||||||||||||
| Other underwriting expenses | 61.4 | 60.4 | 121.8 | — | 11.2 | — | 133.0 | ||||||||||||||||||||||||||||||||||
| Underwriting income (loss) | 97.3 | 68.4 | 165.7 | 88.1 | (18.1) | — | 235.7 | ||||||||||||||||||||||||||||||||||
| Services revenues | 178.7 | — | 178.7 | (94.6) | — | (84.1) | — | ||||||||||||||||||||||||||||||||||
| Services expenses | 141.2 | — | 141.2 | — | — | (141.2) | — | ||||||||||||||||||||||||||||||||||
| Net services fee income | 37.5 | — | 37.5 | (94.6) | — | 57.1 | — | ||||||||||||||||||||||||||||||||||
| Services noncontrolling loss | 0.2 | — | 0.2 | — | — | (0.2) | — | ||||||||||||||||||||||||||||||||||
| Net services income | 37.7 | — | 37.7 | (94.6) | — | 56.9 | — | ||||||||||||||||||||||||||||||||||
| Segment income (loss) | 135.0 | 68.4 | 203.4 | (6.5) | (18.1) | 56.9 | 235.7 | ||||||||||||||||||||||||||||||||||
| Net investment income | 205.9 | — | 205.9 | ||||||||||||||||||||||||||||||||||||||
| Net investment gains (losses) | 6.6 | — | 6.6 | ||||||||||||||||||||||||||||||||||||||
| Other revenues | 8.4 | 84.1 | 92.5 | ||||||||||||||||||||||||||||||||||||||
| Net corporate and other expenses | (52.8) | (141.2) | (194.0) | ||||||||||||||||||||||||||||||||||||||
| Intangible asset amortization | (8.5) | — | (8.5) | ||||||||||||||||||||||||||||||||||||||
| Interest expense | (60.2) | — | (60.2) | ||||||||||||||||||||||||||||||||||||||
| Foreign exchange losses | (16.9) | — | (16.9) | ||||||||||||||||||||||||||||||||||||||
| Income before income tax expense | $ | 135.0 | $ | 68.4 | 203.4 | (6.5) | 64.4 | (0.2) | 261.1 | ||||||||||||||||||||||||||||||||
| Income tax expense | — | — | (45.1) | — | (45.1) | ||||||||||||||||||||||||||||||||||||
| Net income | 203.4 | (6.5) | 19.3 | (0.2) | 216.0 | ||||||||||||||||||||||||||||||||||||
| Net income attributable to noncontrolling interest | — | — | (0.6) | 0.2 | (0.4) | ||||||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint | $ | 203.4 | $ | (6.5) | $ | 18.7 | $ | — | $ | 215.6 | |||||||||||||||||||||||||||||||
| Attritional losses | $ | 661.3 | $ | 470.1 | $ | 1,131.4 | $ | (5.0) | $ | 5.3 | $ | — | $ | 1,131.7 | |||||||||||||||||||||||||||
| Catastrophe losses | 4.8 | 62.6 | 67.4 | — | — | — | 67.4 | ||||||||||||||||||||||||||||||||||
| Prior year loss reserve development | (21.7) | (35.5) | (57.2) | — | 5.4 | — | (51.8) | ||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | $ | 644.4 | $ | 497.2 | $ | 1,141.6 | $ | (5.0) | $ | 10.7 | $ | — | $ | 1,147.3 | |||||||||||||||||||||||||||
Underwriting Ratios: (1) | |||||||||||||||||||||||||||||||||||||||||
| Attritional loss ratio | 60.9 | % | 56.7 | % | 59.1 | % | 58.8 | % | |||||||||||||||||||||||||||||||||
| Catastrophe loss ratio | 0.4 | % | 7.6 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||||||||||||||||
| Prior year loss development ratio | (2.0) | % | (4.3) | % | (3.0) | % | (2.7) | % | |||||||||||||||||||||||||||||||||
| Loss ratio | 59.3 | % | 60.0 | % | 59.6 | % | 59.6 | % | |||||||||||||||||||||||||||||||||
| Acquisition cost ratio | 26.1 | % | 24.4 | % | 25.4 | % | 21.3 | % | |||||||||||||||||||||||||||||||||
| Other underwriting expenses ratio | 5.7 | % | 7.3 | % | 6.4 | % | 6.9 | % | |||||||||||||||||||||||||||||||||
| Combined ratio | 91.1 | % | 91.7 | % | 91.4 | % | 87.8 | % | |||||||||||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.
Page 12 of 23
SiriusPoint Ltd.
Consolidated Results - by Quarter
(expressed in millions of U.S. dollars, except ratios)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||
| Gross written premium | $ | 994.9 | $ | 978.2 | $ | 1,002.9 | $ | 898.3 | $ | 874.4 | ||||||||||||||||||||||
| Net written premium | 680.4 | 710.3 | 695.2 | 655.1 | 670.3 | |||||||||||||||||||||||||||
| Net earned premium | 767.6 | 640.3 | 638.9 | 667.4 | 647.7 | |||||||||||||||||||||||||||
| Expenses | ||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 415.9 | 358.2 | 362.9 | 372.2 | 372.9 | |||||||||||||||||||||||||||
| Acquisition costs, net | 195.2 | 156.8 | 147.8 | 173.2 | 139.8 | |||||||||||||||||||||||||||
| Other underwriting expenses | 53.0 | 51.8 | 50.5 | 54.9 | 43.6 | |||||||||||||||||||||||||||
| Underwriting income | $ | 103.5 | $ | 73.5 | $ | 77.7 | $ | 67.1 | $ | 91.4 | ||||||||||||||||||||||
| Attritional losses | $ | 435.7 | $ | 371.9 | $ | 375.4 | $ | 387.2 | $ | 381.8 | ||||||||||||||||||||||
Catastrophe losses, net of reinsurance and reinstatement premiums | — | 1.3 | 5.4 | 7.0 | — | |||||||||||||||||||||||||||
Favorable prior year loss reserve development | $ | (19.8) | $ | (15.0) | $ | (17.9) | $ | (22.0) | $ | (8.9) | ||||||||||||||||||||||
Underwriting Ratios (1): | ||||||||||||||||||||||||||||||||
| Loss ratio | 54.2 | % | 55.9 | % | 56.8 | % | 55.8 | % | 57.6 | % | ||||||||||||||||||||||
| Acquisition cost ratio | 25.4 | % | 24.5 | % | 23.1 | % | 26.0 | % | 21.6 | % | ||||||||||||||||||||||
| Other underwriting expenses ratio | 6.9 | % | 8.1 | % | 7.9 | % | 8.2 | % | 6.7 | % | ||||||||||||||||||||||
| Combined ratio | 86.5 | % | 88.5 | % | 87.8 | % | 90.0 | % | 85.9 | % | ||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
Page 13 of 23
SiriusPoint Ltd.
Core Results - by Quarter (1)
(expressed in millions of U.S. dollars, except ratios)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||
| Gross written premium | $ | 990.6 | $ | 981.5 | $ | 1,003.8 | $ | 896.9 | $ | 871.6 | ||||||||||||||||||||||
| Net written premium | 678.7 | 709.5 | 696.8 | 660.9 | 664.9 | |||||||||||||||||||||||||||
| Net earned premium | 764.8 | 638.8 | 638.3 | 676.6 | 643.5 | |||||||||||||||||||||||||||
| Expenses | ||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 417.6 | 356.6 | 349.7 | 389.5 | 370.8 | |||||||||||||||||||||||||||
| Acquisition costs, net | 223.1 | 179.9 | 171.8 | 188.7 | 163.0 | |||||||||||||||||||||||||||
| Other underwriting expenses | 48.2 | 47.3 | 45.9 | 49.8 | 40.1 | |||||||||||||||||||||||||||
| Underwriting income | 75.9 | 55.0 | 70.9 | 48.6 | 69.6 | |||||||||||||||||||||||||||
| Services revenues | 61.5 | 59.4 | 54.0 | 45.7 | 58.5 | |||||||||||||||||||||||||||
| Services expenses | 49.4 | 49.6 | 46.1 | 41.4 | 48.5 | |||||||||||||||||||||||||||
| Net services fee income | 12.1 | 9.8 | 7.9 | 4.3 | 10.0 | |||||||||||||||||||||||||||
| Services noncontrolling (income) loss | (0.2) | 0.1 | 0.5 | (0.1) | 0.1 | |||||||||||||||||||||||||||
| Net services income | 11.9 | 9.9 | 8.4 | 4.2 | 10.1 | |||||||||||||||||||||||||||
| Segment income | $ | 87.8 | $ | 64.9 | $ | 79.3 | $ | 52.8 | $ | 79.7 | ||||||||||||||||||||||
| Attritional losses | $ | 435.9 | $ | 372.0 | $ | 376.5 | $ | 397.5 | $ | 379.9 | ||||||||||||||||||||||
Catastrophe losses, net of reinsurance and reinstatement premiums | — | 1.3 | 5.4 | 7.0 | — | |||||||||||||||||||||||||||
Favorable prior year loss reserve development | $ | (18.3) | $ | (16.7) | $ | (32.2) | $ | (15.0) | $ | (9.1) | ||||||||||||||||||||||
Underwriting Ratios (2): | ||||||||||||||||||||||||||||||||
| Loss ratio | 54.6 | % | 55.8 | % | 54.8 | % | 57.6 | % | 57.6 | % | ||||||||||||||||||||||
| Acquisition cost ratio | 29.2 | % | 28.2 | % | 26.9 | % | 27.9 | % | 25.3 | % | ||||||||||||||||||||||
| Other underwriting expenses ratio | 6.3 | % | 7.4 | % | 7.2 | % | 7.4 | % | 6.2 | % | ||||||||||||||||||||||
| Combined ratio | 90.1 | % | 91.4 | % | 88.9 | % | 92.9 | % | 89.1 | % | ||||||||||||||||||||||
| Accident year loss ratio | 57.0 | % | 58.4 | % | 59.8 | % | 59.8 | % | 59.0 | % | ||||||||||||||||||||||
| Accident year combined ratio | 92.5 | % | 94.0 | % | 93.9 | % | 95.0 | % | 90.6 | % | ||||||||||||||||||||||
| Attritional loss ratio | 57.0 | % | 58.2 | % | 59.0 | % | 58.8 | % | 59.0 | % | ||||||||||||||||||||||
| Combined ratio ex. catastrophe losses | 90.1 | % | 91.2 | % | 88.1 | % | 91.9 | % | 89.1 | % | ||||||||||||||||||||||
(1)Collectively, the sum of our two segments, Reinsurance and Insurance & Services, constitute our "Core" results. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. We believe it is useful to review Core results as they reflect how management views the business and reflects our decision to exit the run-off business. The sum of Core results and Corporate results are equal to the consolidated results of operations.
(2)Underwriting ratios are calculated by dividing the related expense by net earned premium. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio and combined ratio ex. catastrophe losses exclude catastrophe losses from the respective ratios as they are not predictable as to timing and amount.
Page 14 of 23
SiriusPoint Ltd.
Insurance & Services Segment - by Quarter
(expressed in millions of U.S. dollars, except ratios)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||
| Gross written premium | $ | 673.0 | $ | 644.6 | $ | 684.6 | $ | 556.0 | $ | 562.0 | ||||||||||||||||||||||
| Net written premium | 403.5 | 422.4 | 461.1 | 377.1 | 396.8 | |||||||||||||||||||||||||||
| Net earned premium | 460.8 | 381.7 | 380.1 | 395.0 | 381.2 | |||||||||||||||||||||||||||
| Expenses | ||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 263.6 | 216.5 | 215.7 | 230.5 | 225.3 | |||||||||||||||||||||||||||
| Acquisition costs, net | 136.9 | 104.2 | 108.0 | 113.1 | 98.3 | |||||||||||||||||||||||||||
| Other underwriting expenses | 27.3 | 25.6 | 26.3 | 24.9 | 19.9 | |||||||||||||||||||||||||||
| Underwriting income | 33.0 | 35.4 | 30.1 | 26.5 | 37.7 | |||||||||||||||||||||||||||
| Services revenues | 61.5 | 59.4 | 54.0 | 45.7 | 58.5 | |||||||||||||||||||||||||||
| Services expenses | 49.4 | 49.6 | 46.1 | 41.4 | 48.5 | |||||||||||||||||||||||||||
| Net services fee income | 12.1 | 9.8 | 7.9 | 4.3 | 10.0 | |||||||||||||||||||||||||||
| Services noncontrolling (income) loss | (0.2) | 0.1 | 0.5 | (0.1) | 0.1 | |||||||||||||||||||||||||||
| Net services income | 11.9 | 9.9 | 8.4 | 4.2 | 10.1 | |||||||||||||||||||||||||||
| Segment income | $ | 44.9 | $ | 45.3 | $ | 38.5 | $ | 30.7 | $ | 47.8 | ||||||||||||||||||||||
| Attritional losses | $ | 272.7 | $ | 231.3 | $ | 230.8 | $ | 238.4 | $ | 234.8 | ||||||||||||||||||||||
Catastrophe losses, net of reinsurance and reinstatement premiums | — | 1.3 | — | 2.5 | — | |||||||||||||||||||||||||||
Favorable prior year loss reserve development | $ | (9.1) | $ | (16.1) | $ | (15.1) | $ | (10.4) | $ | (9.5) | ||||||||||||||||||||||
Underwriting Ratios (1): | ||||||||||||||||||||||||||||||||
| Loss ratio | 57.2 | % | 56.7 | % | 56.7 | % | 58.4 | % | 59.1 | % | ||||||||||||||||||||||
| Acquisition cost ratio | 29.7 | % | 27.3 | % | 28.4 | % | 28.6 | % | 25.8 | % | ||||||||||||||||||||||
| Other underwriting expenses ratio | 5.9 | % | 6.7 | % | 6.9 | % | 6.3 | % | 5.2 | % | ||||||||||||||||||||||
| Combined ratio | 92.8 | % | 90.7 | % | 92.0 | % | 93.3 | % | 90.1 | % | ||||||||||||||||||||||
| Accident year loss ratio | 59.2 | % | 60.9 | % | 60.7 | % | 61.0 | % | 61.6 | % | ||||||||||||||||||||||
| Accident year combined ratio | 94.8 | % | 94.9 | % | 96.1 | % | 95.9 | % | 92.6 | % | ||||||||||||||||||||||
| Attritional loss ratio | 59.2 | % | 60.6 | % | 60.7 | % | 60.4 | % | 61.6 | % | ||||||||||||||||||||||
| Combined ratio ex. catastrophe losses | 92.8 | % | 90.4 | % | 92.0 | % | 92.7 | % | 90.1 | % | ||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium. Accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio and combined ratio ex. catastrophe losses exclude catastrophe losses from the respective ratios as they are not predictable as to timing and amount.
Page 15 of 23
SiriusPoint Ltd.
Reinsurance Segment - by Quarter
(expressed in millions of U.S. dollars, except ratios)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||||
| Gross written premium | $ | 317.6 | $ | 336.9 | $ | 319.2 | $ | 340.9 | $ | 309.6 | |||||||||||||||||||||||||
| Net written premium | 275.2 | 287.1 | 235.7 | 283.8 | 268.1 | ||||||||||||||||||||||||||||||
| Net earned premium | 304.0 | 257.1 | 258.2 | 281.6 | 262.3 | ||||||||||||||||||||||||||||||
| Expenses | |||||||||||||||||||||||||||||||||||
| Loss and loss adjustment expenses incurred, net | 154.0 | 140.1 | 134.0 | 159.0 | 145.5 | ||||||||||||||||||||||||||||||
| Acquisition costs, net | 86.2 | 75.7 | 63.8 | 75.6 | 64.7 | ||||||||||||||||||||||||||||||
| Other underwriting expenses | 20.9 | 21.7 | 19.6 | 24.9 | 20.2 | ||||||||||||||||||||||||||||||
| Underwriting income | $ | 42.9 | $ | 19.6 | $ | 40.8 | $ | 22.1 | $ | 31.9 | |||||||||||||||||||||||||
| Attritional losses | $ | 163.2 | $ | 140.7 | $ | 145.7 | $ | 159.1 | $ | 145.1 | |||||||||||||||||||||||||
Catastrophe losses, net of reinsurance and reinstatement premiums | — | — | 5.4 | 4.5 | — | ||||||||||||||||||||||||||||||
(Favorable) adverse prior year loss reserve development | $ | (9.2) | $ | (0.6) | $ | (17.1) | $ | (4.6) | $ | 0.4 | |||||||||||||||||||||||||
Underwriting Ratios (1): | |||||||||||||||||||||||||||||||||||
| Loss ratio | 50.7 | % | 54.5 | % | 51.9 | % | 56.5 | % | 55.5 | % | |||||||||||||||||||||||||
| Acquisition cost ratio | 28.4 | % | 29.4 | % | 24.7 | % | 26.8 | % | 24.7 | % | |||||||||||||||||||||||||
| Other underwriting expenses ratio | 6.9 | % | 8.4 | % | 7.6 | % | 8.8 | % | 7.7 | % | |||||||||||||||||||||||||
| Combined ratio | 86.0 | % | 92.3 | % | 84.2 | % | 92.1 | % | 87.9 | % | |||||||||||||||||||||||||
| Accident year loss ratio | 53.7 | % | 54.7 | % | 58.5 | % | 58.1 | % | 55.3 | % | |||||||||||||||||||||||||
| Accident year combined ratio | 88.9 | % | 92.6 | % | 90.8 | % | 93.8 | % | 87.7 | % | |||||||||||||||||||||||||
| Attritional loss ratio | 53.7 | % | 54.7 | % | 56.4 | % | 56.5 | % | 55.3 | % | |||||||||||||||||||||||||
| Combined ratio ex. catastrophe losses | 86.0 | % | 92.3 | % | 82.1 | % | 90.5 | % | 87.9 | % | |||||||||||||||||||||||||
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium. Accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio and combined ratio ex. catastrophe losses exclude catastrophe losses from the respective ratios as they are not predictable as to timing and amount.
Page 16 of 23
SiriusPoint Ltd.
Investments - by Quarter
(expressed in millions of U.S. dollars)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value | % | Fair Value | % | Fair Value | % | Fair Value | % | Fair Value | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset-backed securities | $ | 770.0 | 13.5 | % | $ | 842.9 | 15.3 | % | $ | 866.2 | 16.2 | % | $ | 921.1 | 16.5 | % | $ | 914.4 | 16.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | 1,066.6 | 18.7 | % | 960.0 | 17.4 | % | 943.0 | 17.8 | % | 963.1 | 17.2 | % | 974.4 | 17.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial mortgage-backed securities | 247.5 | 4.3 | % | 256.1 | 4.6 | % | 211.6 | 4.0 | % | 231.9 | 4.1 | % | 204.4 | 3.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corporate debt securities | 2,380.1 | 41.7 | % | 2,237.2 | 40.6 | % | 2,040.1 | 38.4 | % | 2,198.2 | 39.2 | % | 2,043.0 | 36.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. government and government agency | 880.8 | 15.4 | % | 840.6 | 15.2 | % | 811.8 | 15.3 | % | 835.7 | 14.9 | % | 990.1 | 17.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-U.S. government and government agency | 19.8 | 0.3 | % | 20.1 | 0.4 | % | 20.2 | 0.4 | % | 18.6 | 0.3 | % | 19.3 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total debt securities, available for sale | 5,364.8 | 93.9 | % | 5,156.9 | 93.5 | % | 4,892.9 | 92.1 | % | 5,168.6 | 92.2 | % | 5,145.6 | 92.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset-backed securities | 5.0 | 0.1 | % | 5.1 | 0.1 | % | 5.2 | 0.1 | % | 5.9 | 0.1 | % | 8.6 | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage-backed securities | 24.9 | 0.4 | % | 27.0 | 0.5 | % | 43.5 | 0.8 | % | 45.0 | 0.8 | % | 46.1 | 0.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial mortgage-backed securities | 19.5 | 0.3 | % | 26.4 | 0.5 | % | 29.9 | 0.6 | % | 31.9 | 0.6 | % | 36.1 | 0.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corporate debt securities | 2.9 | 0.1 | % | 3.4 | 0.1 | % | 3.6 | 0.1 | % | 3.7 | 0.1 | % | 3.7 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. government and government agency | 3.0 | 0.1 | % | 2.9 | 0.1 | % | 3.8 | 0.1 | % | 3.8 | 0.1 | % | 4.2 | 0.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total debt securities, trading | 55.3 | 1.0 | % | 64.8 | 1.3 | % | 86.0 | 1.7 | % | 90.3 | 1.7 | % | 98.7 | 1.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term investments | 17.1 | 0.3 | % | 7.5 | 0.1 | % | 32.5 | 0.6 | % | 28.3 | 0.5 | % | 24.6 | 0.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other long-term investments | 56.9 | 1.0 | % | 57.5 | 1.0 | % | 63.7 | 1.2 | % | 88.1 | 1.6 | % | 93.5 | 1.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost and equity method investments | 60.4 | 1.0 | % | 60.9 | 1.1 | % | 72.9 | 1.4 | % | 69.3 | 1.2 | % | 66.8 | 1.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments in funds valued at net asset value | 159.2 | 2.8 | % | 167.4 | 3.0 | % | 158.8 | 3.0 | % | 157.7 | 2.8 | % | 158.0 | 2.8 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total investments | $ | 5,713.7 | 100.0 | % | $ | 5,515.0 | 100.0 | % | $ | 5,306.8 | 100.0 | % | $ | 5,602.3 | 100.0 | % | $ | 5,587.2 | 100.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Page 17 of 23
SiriusPoint Ltd.
Earnings per Share - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Weighted-average number of common shares outstanding: | ||||||||||||||||||||||||||||||||
| Basic number of common shares outstanding | 115,135,159 | 116,732,354 | 116,725,419 | 116,788,646 | 116,726,540 | |||||||||||||||||||||||||||
| Dilutive effect of options, restricted share awards, restricted share units | 2,031,512 | 2,279,377 | 4,969,637 | 5,050,320 | 2,091,363 | |||||||||||||||||||||||||||
| Diluted number of common shares outstanding | 117,166,671 | 119,011,731 | 121,695,056 | 121,838,966 | 118,817,903 | |||||||||||||||||||||||||||
| Basic earnings per common share: | ||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 68.6 | $ | 99.6 | $ | 240.0 | $ | 86.8 | ||||||||||||||||||||||
| Net income allocated to SiriusPoint participating common shareholders | (0.1) | — | (0.1) | (0.1) | (0.1) | |||||||||||||||||||||||||||
| Net income allocated to SiriusPoint common shareholders | $ | 86.7 | $ | 68.6 | $ | 99.5 | $ | 239.9 | $ | 86.7 | ||||||||||||||||||||||
| Basic earnings per share available to SiriusPoint common shareholders ⁽¹⁾ | $ | 0.75 | $ | 0.59 | $ | 0.85 | $ | 2.05 | $ | 0.74 | ||||||||||||||||||||||
| Diluted earnings per common share: | ||||||||||||||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 68.6 | $ | 99.6 | $ | 240.0 | $ | 86.8 | ||||||||||||||||||||||
| Net income allocated to SiriusPoint participating common shareholders | (0.1) | — | (0.1) | (0.1) | (0.1) | |||||||||||||||||||||||||||
| Net income allocated to SiriusPoint common shareholders | $ | 86.7 | $ | 68.6 | $ | 99.5 | $ | 239.9 | $ | 86.7 | ||||||||||||||||||||||
| Diluted earnings per share available to SiriusPoint common shareholders ⁽¹⁾ | $ | 0.74 | $ | 0.58 | $ | 0.82 | $ | 1.97 | $ | 0.73 | ||||||||||||||||||||||
(1)Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.
Page 18 of 23
SiriusPoint Ltd.
Annualized Return on Average Common Shareholders’ Equity - by Quarter
(expressed in millions of U.S. dollars, except share and per share data and ratios)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 68.6 | $ | 99.6 | $ | 240.0 | $ | 86.8 | ||||||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period | 2,275.9 | 2,302.4 | 2,269.8 | 2,009.9 | 1,905.7 | |||||||||||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period | 2,228.3 | 2,275.9 | 2,302.4 | 2,269.8 | 2,009.9 | |||||||||||||||||||||||||||
| Average common shareholders’ equity attributable to SiriusPoint common shareholders | $ | 2,252.1 | $ | 2,289.2 | $ | 2,286.1 | $ | 2,139.9 | $ | 1,957.8 | ||||||||||||||||||||||
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (1) | 15.4 | % | 12.0 | % | 17.4 | % | 44.9 | % | 17.7 | % | ||||||||||||||||||||||
(1)Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period.
Page 19 of 23
SiriusPoint Ltd.
Book Value per Share - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders | $ | 2,228.3 | $ | 2,275.9 | $ | 2,302.4 | $ | 2,269.8 | $ | 2,009.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated other comprehensive income (loss), net of tax | (135.9) | (21.3) | 6.3 | 61.9 | 52.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI | 2,364.2 | 2,297.2 | 2,296.1 | 2,207.9 | 1,957.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible assets | 158.8 | 137.4 | 139.8 | 121.2 | 123.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | 46.0 | 18.6 | 18.6 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tangible common shareholders' equity attributable to SiriusPoint common shareholders | $ | 2,023.5 | $ | 2,119.9 | $ | 2,144.0 | $ | 2,148.6 | $ | 1,886.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common shares outstanding | 115,032,060 | 116,065,965 | 115,936,935 | 116,989,799 | 116,807,497 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Effect of dilutive stock options and restricted share units | 1,949,637 | 1,848,708 | 5,065,622 | 4,983,345 | 2,034,652 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Book value per diluted common share denominator | 116,981,697 | 117,914,673 | 121,002,557 | 121,973,144 | 118,842,149 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Book value per common share | $ | 19.37 | $ | 19.61 | $ | 19.86 | $ | 19.40 | $ | 17.21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Book value per diluted common share | $ | 19.05 | $ | 19.30 | $ | 19.03 | $ | 18.61 | $ | 16.91 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book value per diluted common share ex. AOCI (1) | $ | 20.21 | $ | 19.48 | $ | 18.98 | $ | 18.10 | $ | 16.47 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tangible book value per diluted common share (1) | $ | 17.30 | $ | 17.98 | $ | 17.72 | $ | 17.62 | $ | 15.87 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1)Book value per diluted common share excluding AOCI and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per diluted common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Tangible book value per diluted common share excludes goodwill and intangible assets. Management believes that effects of goodwill and intangible assets make book value comparisons to less acquisitive peer companies less meaningful.
Page 20 of 23
SiriusPoint Ltd.
Net Corporate and Other Expenses - by Quarter
(expressed in millions of U.S. dollars)
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||
| Net corporate and other expenses | $ | 75.7 | $ | 73.7 | $ | 71.2 | $ | 63.0 | $ | 62.5 | |||||||||||||||||||
| MGA Service expenses | $ | 49.4 | $ | 49.6 | $ | 46.1 | $ | 41.4 | $ | 48.5 | |||||||||||||||||||
| Corporate and other expenses | $ | 23.5 | $ | 20.4 | $ | 19.8 | $ | 13.9 | $ | 12.8 | |||||||||||||||||||
| Salaries, benefits and incentives | 11.1 | 4.9 | 5.4 | 2.1 | 3.4 | ||||||||||||||||||||||||
| Professional fees | 6.4 | 8.8 | 8.5 | 6.1 | 6.3 | ||||||||||||||||||||||||
| Taxes and regulatory fees | 2.7 | 1.5 | 1.7 | 2.5 | 0.6 | ||||||||||||||||||||||||
| Corporate insurance | 1.3 | 1.4 | 1.4 | 1.1 | 1.4 | ||||||||||||||||||||||||
| Depreciation | 1.2 | 1.0 | 1.0 | 2.1 | 1.1 | ||||||||||||||||||||||||
| Other corporate expenses | 0.8 | 2.8 | 1.8 | — | — | ||||||||||||||||||||||||
| Non-recurring corporate and other expenses | $ | 2.8 | $ | 3.7 | $ | 5.3 | $ | 7.7 | $ | 1.2 | |||||||||||||||||||
| Salaries, benefits and incentives | 0.2 | 2.2 | 4.0 | 6.3 | 0.3 | ||||||||||||||||||||||||
| Professional fees | 2.6 | 1.5 | 1.3 | 1.4 | 0.9 | ||||||||||||||||||||||||
Page 21 of 23
SiriusPoint Ltd.
Operating and Core Operating Net Income and Earnings per Share
September 30, 2026 and 2025
(expressed in millions of U.S. dollars, except share and per share data)
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| Net income available to SiriusPoint common shareholders | $ | 86.8 | $ | 86.8 | $ | 255.0 | $ | 203.6 | |||||||||||||||
| Adjustments: | |||||||||||||||||||||||
| Gain on sale or deconsolidation of consolidated MGAs | — | — | (25.2) | — | |||||||||||||||||||
| (Gains) losses on other investments | 6.6 | (1.1) | 14.8 | (0.6) | |||||||||||||||||||
| MGA & other investment rationalization | 6.6 | (1.1) | (10.4) | (0.6) | |||||||||||||||||||
| Expense related to loss portfolio transfers | 5.1 | 7.7 | 16.0 | 20.2 | |||||||||||||||||||
| Foreign exchange (gains) losses | 3.2 | 2.4 | 2.7 | 16.9 | |||||||||||||||||||
Amortization of acquisition-related intangible assets | 2.5 | 2.8 | 7.5 | 8.5 | |||||||||||||||||||
| Other non-recurring items | 2.8 | (11.0) | 11.8 | (11.0) | |||||||||||||||||||
Income tax expense on adjustments (1) | (3.8) | (0.2) | (10.0) | (6.5) | |||||||||||||||||||
| Operating net income | 103.2 | 87.4 | 272.6 | 231.1 | |||||||||||||||||||
| Corporate (run-off) underwriting results | 3.2 | 6.6 | 26.0 | 18.1 | |||||||||||||||||||
Income tax expense on adjustments (1) | (0.6) | (1.3) | (5.0) | (3.4) | |||||||||||||||||||
| Core Operating net income | $ | 105.8 | $ | 92.7 | $ | 293.6 | $ | 245.8 | |||||||||||||||
| Weighted average number of diluted common shares used in the determination of earnings per share | 117,166,671 | 118,817,903 | 119,150,790 | 118,655,606 | |||||||||||||||||||
| Operating diluted earnings per share | $ | 0.88 | $ | 0.74 | $ | 2.29 | $ | 1.95 | |||||||||||||||
| Core Operating diluted earnings per share | $ | 0.90 | $ | 0.78 | $ | 2.46 | $ | 2.07 | |||||||||||||||
(1) For the three and nine months ended September 30, 2026 and 2025, an effective tax rate of 19% is applied to the above adjustments to calculate the income tax expense, where applicable. Periods may have a different effective tax rate based on the jurisdiction of specific transactions.
Page 22 of 23
SiriusPoint Ltd.
Operating and Core Operating Return on Average Common Shareholders’ Equity
September 30, 2026 and 2025
(expressed in millions of U.S. dollars, except ratios)
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| Operating net income | $ | 103.2 | $ | 87.4 | $ | 272.6 | $ | 231.1 | |||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period | 2,275.9 | 1,905.7 | 2,269.8 | 1,737.4 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - beginning of period | (21.3) | 46.5 | 61.9 | (4.1) | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period | 2,297.2 | 1,859.2 | 2,207.9 | 1,741.5 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period | 2,228.3 | 2,009.9 | 2,228.3 | 2,009.9 | |||||||||||||||||||
| Adjustments to net income to arrive at Operating net income | 16.4 | 0.6 | 17.6 | 27.5 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - end of period | (135.9) | 52.3 | (135.9) | 52.3 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period | 2,380.6 | 1,958.2 | 2,381.8 | 1,985.1 | |||||||||||||||||||
| Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI | $ | 2,338.9 | $ | 1,908.7 | $ | 2,294.9 | $ | 1,863.3 | |||||||||||||||
| Annualized Operating ROE | 17.6 | % | 18.3 | % | 15.8 | % | 16.5 | % | |||||||||||||||
| Three months ended | Nine months ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| Core Operating net income | $ | 105.8 | $ | 92.7 | $ | 293.6 | $ | 245.8 | |||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period | 2,275.9 | 1,905.7 | 2,269.8 | 1,737.4 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - beginning of period | (21.3) | 46.5 | 61.9 | (4.1) | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period | 2,297.2 | 1,859.2 | 2,207.9 | 1,741.5 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period | 2,228.3 | 2,009.9 | 2,228.3 | 2,009.9 | |||||||||||||||||||
| Adjustments to net income to arrive at Core Operating net income | 19.0 | 5.9 | 38.6 | 42.2 | |||||||||||||||||||
| Less: Accumulated other comprehensive income (loss), net of tax - end of period | (135.9) | 52.3 | (135.9) | 52.3 | |||||||||||||||||||
| Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period | 2,383.2 | 1,963.5 | 2,402.8 | 1,999.8 | |||||||||||||||||||
| Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI | $ | 2,340.2 | $ | 1,911.4 | $ | 2,305.4 | $ | 1,870.7 | |||||||||||||||
| Annualized Core Operating ROE | 18.1 | % | 19.4 | % | 17.0 | % | 17.5 | % | |||||||||||||||
Page 23 of 23
Q3 2026 INVESTOR PRESENTATION November 5, 2026 NYSE: SPNT
Basis of Presentation and Non-GAAP Financial Measures: Unless the context otherwise indicates or requires, as used in this presentation references to “we,” “our,” “us,” the “Company,” and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclusive of its subsidiaries. We have made rounding adjustments to reach some of the figures included in this presentation and, unless otherwise indicated, percentages presented in this presentation are approximate. In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio, attritional loss ratio and combined ratio ex. catastrophe losses are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the run-off business. Book value per diluted common share excluding accumulated other comprehensive income (loss) ("AOCI") and tangible book value per diluted common share, as presented, are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is book value per diluted common share. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates. Management believes the effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. Operating net income, Core Operating net income, Operating earnings per share and Core Operating earnings per share are non-GAAP financial measures and the most directly comparable U.S. GAAP measures are net income and diluted earnings per share. Operating net income excludes items which we believe are not indicative of the operations of our operating businesses, including realized and unrealized gains (losses) on other investments and liability-classified capital instruments, non-recurring costs associated with acquisitions or sales of subsidiaries, income (expense) related to loss portfolio transfers, deferred tax assets attributable to the enactment of the Bermuda corporate income tax, development on COVID-19 reserves resulting from the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024, amortization of acquisition-related intangible assets, and foreign exchange gains (losses). Core Operating net income also excludes the Corporate (run-off) business. We believe it is useful to review Operating net income and Core Operating net income as they reflect how we view the business, as well as provides investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics. Operating ROE is calculated by dividing annualized Operating net income for the period by average common shareholders’ equity, excluding AOCI, and after adjusting for the above noted items to arrive at Operating net income. Core Operating ROE also excludes the results of the Corporate (run-off) business. Prior-period results have been recast to reflect current period presentation. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measure is contained in our Form 10-Q, Earnings Release or Financial Supplement for the quarter ended September 30, 2026 and in Appendices B1-5 on slides 32-36 in this deck. Safe Harbor Statement Regarding Forward-Looking Statements: This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this presentation is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this presentation. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “guidance,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. These risks and uncertainties include, but are not limited to, the "Risk Factors" described in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Appendix A5 on slide 30 contains a glossary of abbreviated terms. 2 DISCLAIMER
AGENDA 3 Highlights & Strategic Update Scott Egan, Group CEO Third Quarter & Nine Months Financial Results Jim McKinney, Group CFO Q&A
Highlights & Strategic Update
Upgraded to A by S&P, AM Best and Fitch in 2026 5 SIRIUSPOINT OVERVIEW Notes: [1] Core Gross Written Premium on a Last Twelve Months basis. [2] Represents total shareholders' equity plus debt capital. [3] SiriusPoint Group Bermuda Solvency Capital Ratio calculated as available economic capital and surplus divided by the enhanced capital requirement. Q3'26 figure is an estimate. [4] Financial Strength Ratings and outlook according to Fitch, AM Best and S&P. Moody's FSR of A3 with stable outlook. Drive excellence as a best-in-class specialty underwriter, with a diverse and low-volatility portfolio, that targets a 12-15% ROE across the cycle Total AssetsTotal InvestmentsTotal Capitalization2 $2.9bn $6.3bn $12.6bn BSCR Ratio3 232% Financial Strength Rating4 A (Stable) Strong Balance Sheet with Robust Risk Management Relentless Focus on Underwriting Disciplined and Agile Capital Allocator Dynamic Multi-Channel Global Access 26% 20% 10% 10% 7% 6% 6% 6% 5% 4% Accident & Health General Liability FinPro Surety Credit Aviation Other Casualty Marine & Energy Gross Written Premium1 $3.9bn Other Property Property Cat Re
6 STRONG UNDERWRITING DRIVING EARNINGS AND VALUE CREATION Continued disciplined underwriting delivers a 90.1% Core Combined Ratio in Q3'26 and 90.1% for 9M'26 Strong Q3'26 Insurance & Services GWP growth of 20% drives Core GWP growth of 14% Q3'26 Operating ROE1 of 17.6% and 9M'26 Operating ROE1 of 15.8% Core Operating ROE3 in the quarter continues to outperform at 18.1% LPT agreed on run-off portfolio, further reducing exposure to legacy reserve volatility, expected to release over $200m of capital 17.6% Operating Return on Equity1 90.1% Core Combined Ratio $0.88 Operating EPS2 Q3 2026 HIGHLIGHTS Notes: [1] Operating Return on Equity represents a non-GAAP measure. See Appendices B3 and B4 on slides 34 and 35 for reconciliations to Return on Equity. [2] Operating Diluted Earnings Per Share is a non-GAAP measure. See Appendix B1 on slide 32 for a reconciliation to Diluted Earnings Per Share. [3] Core Operating Return on Equity is a non-GAAP measure. See Appendix B3 on slide 34 for a reconciliation to Return on Equity. Book Value Per Share (ex. AOCI) up 4% in the quarter and 12% YTD to $20.21
$11.59 $12.41 $12.63 $12.91 $13.33 $13.74 $14.47 $14.25 $14.64 $15.15 $15.64 $16.47 $18.10 $18.98 $19.48 $20.21 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 $0.56 $0.41 $0.48 $0.43 $0.22 $0.59 $0.32 $0.54 $0.29 $0.53 $0.68 $0.74 $0.72 $0.72 $0.68 $0.88 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 7 TRACK RECORD OF CONSISTENT EARNINGS AND VALUE CREATION Notes: [1] Operating Diluted Earnings Per Share is a non-GAAP measure. See Appendix B1 on slide 32 for a reconciliation to Diluted Earnings Per Share. Prior period results have been recast to reflect current period presentation. [2] Operating Return on Equity represents a non-GAAP measure. See Appendix B4 on slide 35 for a reconciliation to Return on Equity. Prior period results have been recast to reflect current period presentation. Operating Earnings Per Share1 Book Value Per Share (ex. AOCI) Long-Term Value Framework 13.3% 15.1% 16.7% 15.8% Operating Return on Equity FY 23 FY 24 FY 25 9M'26 Target niche and growing markets Act nimbly, actively manage diversified portfolio Optimize capital to target a 12-15% ROE across the cycle 2
8 INSURANCE GROWTH AND ATTRACTIVE UNDERWRITING MARGINS Core Combined Ratio (ex. LPT Benefit2)Trailing Last Twelve Months Premium Growth1 91.7% 93.8% 91.7% 92.5% 87.0% 83.7% 84.7% 89.6% 89.1% 91.9% 88.1% 91.2% 90.1%6.6% 10.9% 92.9% 93.8% 91.7% 93.5% 88.9% 90.3% 95.6% 89.5% 89.1% 92.9% 88.9% 91.4% 90.1% Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Catastrophe Loss Ratio Combined Ratio (ex. Catastrophe Losses) 25% 16% 3% 13% 13% 14% 22% 15% 25% 26% 21% 21% 16% 2% 10% 0% (4)% 0% 5% 8% 10% 6% 3% 0% (3)% (2)% Insurance & Services Reinsurance Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Notes: [1] Reflects Last Twelve Months Core continuing lines premium for 2023 and 2024 which excludes business exited in 2022 and 2023. [2] LPT benefit refers to reserve releases associated with the 2023 LPT and associated deferred gains.
Diluted BVPS (ex. AOCI) CAGR Co m bi ne d Ra tio V ol at ili ty SiriusPoint Market Average 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 22.0% 24.0% 26.0% 28.0% 30.0% —% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 3 Year Combined Ratio Volatility1 9 LOW UNDERWRITING VOLATILITY DRIVING VALUE CREATION Notes: [1] Combined ratio volatility is measured as the standard deviation in quarterly combined ratios for the last twelve quarters (i.e. three years) as at Q2'26. The SiriusPoint combined ratio is for Core segment and excludes benefits related to LPTs. LPT benefit refers to reserve releases associated with the 2023 LPT and associated deferred gains. The Diluted BVPS (ex. AOCI) CAGR includes dividends paid during the period. Peers for Market Average include American Financial Group, AIG, Arch, AXIS, Chubb, Everest, Hamilton, James River, Markel, Pelagos, RenaissanceRe, RLI, Selective, Skyward Specialty, Travelers and W.R. Berkley. Outliers have been omitted from the quadrant. 2.2% 3.6% 4.6% 10.8% SiriusPoint US Specialty Peers US Large Multiline Bermuda-Domiciled Peers Key Comments – Above-market book value per share growth delivered with significantly lower underwriting volatility – 2.2% combined ratio volatility profile is best in class across peer groups shown and most closely aligned with US Specialty peers – Rigorous and disciplined approach to portfolio and capital management supports consistent underwriting performance and durable value creation 3 Year Underwriting Volatility vs. Value Creation Quadrant1 Low Value Creation, Low Volatility High Value Creation, Low Volatility Low Value Creation, High Volatility High Value Creation, High Volatility 3 4 5 6 7
10 LPT DEAL COVERING REMAINING RUN-OFF EXPOSURES Additional Comments – After completion of the LPT with RiverStone1, substantially all of SiriusPoint's run-off exposures will be covered by LPTs, resulting in negligible go-forward run-off loss costs – Management feel it had a strong reserve position prior to the LPT, and feel we are in an even stronger position post this action – The structure provides SiriusPoint with future upside – Assets backing the covered reserves to be held in collateral – SiriusPoint to retain certain claims administration Run-Off (Non-Core) Portfolio Timeline $(33) $11 $(10) $1 $(53) $(4) $(7) $(7) $(10) $(19) $(4) $(3) $1,008 $942 $885 $854 $638 $574 $556 $528 $477 $460 $440 $400 Pre-tax Run-off Underwriting Loss Net Run-off Reserves Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 LPT Deal Impact Overview $ numbers in USD millions ~20 ppts ~$400m $700m ~$60m BSCR Ratio Impact Approximate 20 point increase to BSCR ratio upon deal closing represents >$200m of capital unlocked Reserves Covered Run-off portfolio to be reduced to de minimis levels, effectively closing the chapter on the legacy portfolio Aggregate Limit $700m aggregate limit provides a high level of confidence that remaining run-off exposures are appropriately covered Day-one charge Estimated day-one pre-tax charge upon deal closing1 (vs. avg $12m quarterly loss since Q4'23) Notes: [1] The transaction is subject to regulatory approvals.
11 CONSISTENT AND STRONG CORE BUSINESS Core Operating Return on Equity1 17.2% 11.1% 15.0% 13.0% 14.9% 18.5% 19.5% 19.1% 18.3% 14.7% 18.1% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Notes: [1] Core Operating Return on Equity and Operating Return on Equity are non-GAAP measures. See Appendices B3 and B5 on slides 34 and 36 for reconciliations to Return on Equity. Prior period results have been recast to reflect current period presentation. – Core Operating ROE isolates the go-forward business by excluding run-off results – 9M'26 Core Operating ROE1 of 17.0% – Core Operating ROE of 15.9% in FY 24, 17.7% in FY 25 and 17.0% in 9M'26, demonstrating sustained performance – Performance has remained resilient during quarters of elevated catastrophe, aviation and other large losses – The planned LPT is expected to reduce the impact of legacy run- off results and improve alignment between Operating and Core Operating ROE Key Comments 18.6% 9.9% 15.4% 8.7% 14.3% 17.5% 18.3% 17.5% 15.6% 14.2% 17.6% Target range: 12-15% across the cycle Operating ROE1 FY 25 17.7% FY 24 15.9% 9M'26 17.0%
UK & Lloyd's 12 ACTIVE PORTFOLIO MANAGEMENT TO MAXIMIZE CORE RETURNS Accident & Health Property Cat Re Notes: GWP pie charts represent Last Twelve Months Gross Written Premium for Core segment by underwriting hub. General Liability includes Multiline. FinPro contains Financial, Professional and Transactional Liability. Other Casualty contains Auto Liability, Environmental, Workers Compensation, Medical Malpractice and Other Casualty lines. General Liability FinPro Surety Credit Other Casualty USA UK & Lloyd's Europe & Other USA UK & Lloyd's Bermuda USA UK & Lloyd'sBermuda Europe & Other USA USA Europe & Other Bermuda USA UK & Lloyd's Bermuda Europe & Other USA UK & Lloyd's GWP $1.0bn GWP $792m GWP $401m GWP $254m GWP $250m GWP $230m GWP $226m GWP $150m Marine & Energy Other Property USA UK & Lloyd's Europe & Other USA UK & Lloyd's Europe & Other GWP $369m GWP $198m Aviation Bermuda Trailing LTM Growth Insurance & Services Reinsurance N/A Trailing LTM Growth Insurance & Services Reinsurance Trailing LTM Growth Insurance & Services Reinsurance Trailing LTM Growth Insurance & Services Reinsurance Trailing LTM Growth Insurance & Services Reinsurance N/A Trailing LTM Growth Insurance & Services Reinsurance N/A Trailing LTM Growth Insurance & Services ReinsuranceTrailing LTM Growth Insurance & Services ReinsuranceTrailing LTM Growth Insurance & Services ReinsuranceTrailing LTM Growth Insurance & Services Reinsurance
58%27% 8% 7% 13 HIGHLY DIVERSIFIED PORTFOLIO WITH OMNI-CHANNEL DISTRIBUTION Notes: [1] Gross Written Premium on a Last Twelve Months basis. [2] Direct represents consolidated MGA premiums and premiums derived without a broker or MGA. 66% 34% Distribution Channel52% 23% 12% 13% Underwriting Hub Core Portfolio Premium Splits1 26% 20% 10% 10% 7% 6% 6% 6% 5% 4% Accident & Health General Liability FinPro Surety Credit Aviation Other Casualty Marine & Energy Other Property Property Cat Re 41% 28% 31% Reserve Duration Insurance & Services Reinsurance USA UK & Lloyd's Bermuda Europe & Other <2 Years 2-4 Years 4+ Years MGA Broker Lloyd's Direct2 Market Access Accident & Health Specialty P&C Gross Written Premium: $3.9bn
26% 74% 14 UPDATING SEGMENT REPORTING TO REFLECT BUSINESS EVOLUTION Notes: [1] Gross Written Premium on a Last Twelve Months basis. 66% 34% Underwriting Segment Update1 Accident & Health General Liability FinPro Surety Credit Aviation Other Casualty Marine & Energy Other Property Property Cat Re Insurance & Services Reinsurance Key Comments – Segments to update from Q4'26: ◦ From Insurance & Services and Reinsurance ◦ To Specialty P&C and Accident & Health – Combined segments will continue to form the 'Core' result – Updated segments better reflect the go-forward business given the evolution into a specialty underwriter – Premiums for the nine specialties within Specialty P&C to continue to be disclosed – Premiums for Insurance vs Reinsurance will continue to be disclosed – We plan to recast unaudited historical results and make available ahead of the Q4'26 earnings release Current Segments (Q4'21 - Q3'26) Future Segments (Q4'26+) Specialty P&C
15 RIGOROUS APPROACH TO PARTNERING WITH MGAs Notes: [1] Refers to P&C MGA partners. Disciplined approach to MGA partner selection >90% new opportunities declined In-depth discovery period for potential partners 6-9 months typical time in discovery before onboarding onboarding long term THOROUGH ONBOARDING PROCESS ALIGNED INCENTIVE STRUCTURES LONG-TERM, STICKY PARTNERSHIPS Skin in the game drives alignment of interests >85% partners with profit sharing features1 Partners incentivized on underwriting not growth 0% partners with volume- based incentives Partnering with strategically aligned, long-term partners >90% programs renewed in the last year Seasoned and well-established MGA strategy 7 years premium-weighted average partner tenure Prudent approach to reserving and risk management for new programs 100% new programs reserved above pricing projections Scaling and growth for new partners managed tightly CONSERVATIVE INITIAL APPROACH 36% of partners were onboarded since 2024 and account for 12% of total MGA premiums
16 SIRIUSPOINT FORWARD OUTLOOK Seasoned management team with demonstrated track record of execution Low volatility underwriter with track record of delivering or exceeding our profitability targets Undervalued balance sheet with demonstrated significant upside from MGA portfolio Agile capital allocator with proven ability to move and optimize capital Disciplined profitable growth with untapped opportunities and a strong track record Attractive markets targeting underserved and defensible niches Our delivery targets a 12-15% return on equity across the cycle Strong underwriting culture with compensation aligned to shareholder value creation
Third Quarter and Nine Months Results Update
Financial Highlights $ numbers in USD millions Q3'25 Q3'26 Gross Written Premium $872 $991 Net Written Premium $665 $679 COR (%) 89.1% 90.1% UW Income $70 $76 Net Services Fee Income $10 $12 Total Investment Result2 $73 $69 Operating Net Income3 $87 $103 Operating Earnings Per Share3 $0.74 $0.88 Q2'26 Q3'26 Common Shareholders' Equity4 $2,276 $2,228 Diluted Book Value Per Share (ex. AOCI) $19.48 $20.21 Q3 2026 FINANCIAL RESULTS 18 Notes: [1] Reflects Core segment. [2] Total investment result calculated as the sum of net realized and unrealized investment gains (losses), net realized and unrealized investment gains (losses) from related party investment funds and net investment income. [3] Operating Net Income and Operating Diluted Earnings Per Share represent non-GAAP measures. See Appendix B1 on slide 32 for reconciliations to Net Income. [4] Common shareholders’ equity attributable to SiriusPoint common shareholders at end of period. [5] Excluded from Operating Net Income. Key Comments CO RE B U SI N ES S – Operating net income increased 18% to $103m, with operating EPS increasing 19% to $0.88 – Underwriting income1 increased 9% to $76m, reflecting continued strong underwriting profitability despite 1.0 ppt increase in the combined ratio to 90.1% – Premium growth remained strong, with GWP1 up 14% and NEP1 up 19%; NWP1 increased 2% – Net services fee income1 increased to $12m, up 44% YoY for go- forward MGAs, providing a growing contribution from the services platform – Strong investment contribution continued, with NII of $66m and total investment result of $69m – Diluted BVPS (ex. AOCI) increased $0.73 sequentially to $20.21, demonstrating continued book value accretion – Other notable Q3'26 pre-tax items impacting reported net income included: ◦ $18m interest expense, including $5m5 related to LPTs ◦ $3m net investment gain
Financial Highlights $ numbers in USD millions 9M'25 9M'26 Gross Written Premium $2,792 $2,976 Net Written Premium $2,117 $2,085 COR (%) 91.4% 90.1% UW Income $166 $202 Net Services Fee Income $38 $30 Total Investment Result2 $213 $220 Operating Net Income3 $231 $273 Operating Earnings Per Share3 $1.95 $2.29 FY 25 9M'26 Common Shareholders' Equity4 $2,270 $2,228 Diluted Book Value Per Share (ex. AOCI) $18.10 $20.21 NINE MONTHS 2026 FINANCIAL RESULTS 19 Notes: [1] Reflects Core segment. [2] Total investment result calculated as the sum of net realized and unrealized investment gains (losses), net realized and unrealized investment gains (losses) from related party investment funds and net investment income. [3] Operating Net Income and Operating Diluted Earnings Per Share represent non-GAAP measures. See Appendix B4 on slide 35 for reconciliations to Net Income. [4] Common shareholders’ equity attributable to SiriusPoint common shareholders at end of period. [5] Excluded from Operating Net Income. – Operating net income increased 18% to $273m, with operating EPS up 17% to $2.29 – Underwriting performance strengthened, with underwriting income increasing 22% to $202m and the combined ratio improving 1.3 ppts to 90.1% – GWP1 increased 7% and NEP1 increased 7%, while NWP1 decreased 1%, reflecting one-off items including the previously announced aggregate cover – Go-forward MGA net services fee income1 increased 40% YoY to $30m, providing an increasing contribution from the services platform – Strong investment performance continued, with a total investment result of $220m, including $198m of NII – Diluted BVPS (ex. AOCI) increased $2.11 to $20.21, reflecting continued book value creation – Other notable pre-tax items impacting 9M'26 net income included $54m interest expense of which $16m5 relates to LPTs Key Comments CO RE B U SI N ES S
$562 $673 Q3'25 Q3'26 $1,758 $2,002 9M'25 9M'26 – Premium Gross written premium increased 20% for the quarter, driven by increased premium estimates in FinPro and Surety growth, offset by the exit of a large International A&H program – Loss Performance Q3'26 loss ratio improved 1.9 ppts with lower attritional loss ratio (driven by A&H) partially offset by lower favorable PYD 9M'26 loss ratio decreased 2.4 ppts driven by lower attritional loss ratio and higher favorable PYD – Underwriting Result Combined ratio increased by 2.7 ppts in Q3'26 and 0.9 ppts for 9M'26 Change in business mix and higher profit commissions drove a 3.9 ppt increase in acquisition costs in Q3'26, partially offset by lower attritional loss ratio Q3'26 OUE increased by 0.7 ppts, in line with 9M'26 trend 20 SEGMENT RESULTS Insurance & Services Segment Reinsurance Segment 59.1% 57.2% 25.8% 29.7% 5.2% 5.9% 90.1% 92.8% Q3'25 Q3'26 – Premium Gross written premium increased 3% for the quarter, driven by Marine & Energy and Other Property – Loss Performance Q3'26 loss ratio improved by 4.8 ppts, driven by higher favorable PYD from Marine & Energy and Property lines, and lower attritional losses 9M'26 loss ratio improved by 7.7 ppts, driven by lower catastrophe and attritional losses – Underwriting Result Combined ratio improved by 1.9 ppts in the quarter, and 4.3 ppts for 9M'26 Q3'26 loss ratio improvement partially offset by a 3.7 ppt increase in the acquisition cost ratio driven by business mix changes, while OUE ratio improved 0.8 ppts +14% $ numbers in USD millions $310 $318 Q3'25 Q3'26 55.5% 50.7% 24.7% 28.4% 7.7% 6.9% 87.9% 86.0% Q3'25 Q3'26 +3% Gross Written Premium Gross Written Premium Combined Ratio +20% $1,034 $974 9M'25 9M'26 (6)% 59.3% 56.9% 26.1% 28.6% 5.7% 6.5% 91.1% 92.0% 9M'25 9M'26 60.0% 52.3% 24.4% 27.5% 7.3% 7.6% 91.7% 87.4% 9M'25 9M'26 OUE Ratio Acq. Cost Ratio Loss Ratio OUE Ratio Acq. Cost Ratio Loss Ratio Combined Ratio
21 RESERVING PRUDENCE DEMONSTRATED BY PYD TRACK RECORD Notes: [1] Reflects consolidated results. [2] Q1'23 favorable prior year development excludes the one-off $102m benefit from the 2023 loss portfolio transfer. Favorable Prior Year Development1,2 $4.1 $3.8 $33.0 $24.7 $11.1 $38.9 $1.1 $30.6 $37.3 $34.2 $8.7 $8.9 $22.0 $17.9 $15.0 $19.8 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 1.2% 2.9% 2.2% 1.4% 4.5% 3.3% 2.2% 1.4% LPT Benefit as % of Opening Net Reserves Reserve Releases as % of Opening Net Reserves (ex. LPT) FY 23 FY 24 FY 25 9M'26 Reserve Releases as % of Opening Net Reserves1 $ numbers in USD millions – Twenty-two consecutive quarters of favorable prior year development – Full quarterly reserve review completed by actuarial team – New business booked with a reserve load in excess of pricing indications – LPTs continue to benefit from high levels of coverage in excess of reserves Key Comments $193 $291 $140 $244 $293 $233 LPT Limit Remaining in Excess of Reserves Reserves covered by LPT at 9/30/26 Compre LPT (Signed 2021) Compre LPT (Signed 2023) Enstar LPT (Signed 2024) Loss Portfolio Transfers LPT Buffer (as % of reserves) 126% 101% 166%
$206 $198 $213 $220 9M'25 9M'26 16% 40% 27% 15% 1% HIGH-QUALITY PORTFOLIO SUPPORTS DURABLE INVESTMENT INCOME 22 $ numbers in USD millions Key Comments Notes: [1] Third Point Enhanced Fund. [2] Other includes Strategic Investments, TP Ventures and Legacy & Other Alts. [3] Excludes short-term investments. Investment Result – Q3'26 Net Investment Income of $66m in line with expectations – No defaults across fixed income portfolio during the quarter – Limited exposure to private credit, with a focus on senior secured first-lien (~1% of portfolio) Credit Quality3Investment Balances by Asset Class 38% 22% 14% 9% 7% 6% 4% AAA AA A BBB Not Rated / Below IG STI Corporate Other2 Fixed Income Duration3 Avg. Credit Quality 3.4 years AA- Reinvestment Rate >5.0% Investment Result $220m MBS Government Cash ABS CLO TPE1 Q3'26 $6.3bn Net Investment Income Total Investment Result
237% (3)% (2)% 232% (19)% 213% Q2'26 Net Capital Generation Capital Returned Q3'26E Stress Test Scenario Post-event Q3'26E 23 STRONG FINANCIAL STRENGTH AND CAPITAL POSITION – Capital position remains resilient after capital returns and modelled 1-in-250 year stress- test scenarios – Operating the business against 'AAA’ rating requirement per S&P model – Capital mix remains high quality and highly diversified BSCR Ratio Walk1 $ numbers in USD millions Stress-Test Scenario 1-in-250 year event (on a per occurrence basis net of recoveries, reinstatements and after tax) Modeled Cost: $232m Financial Strength Ratings (FSR) Key Comments Equity Capital GAAP Capital Debt Capital $2.2bn $0.7bn $2.9bn RATING UPGRADED 4/16/26 REVIEWED 3/12/26 RATING UPGRADED 2/25/26 RATING UPGRADED 4/21/26 A A3 A A (STABLE) (STABLE)(STABLE) (STABLE) Run-off LPT deal to increase BSCR ratio by further ~20 ppts upon closing Notes: [1] SiriusPoint Group BSCR ratio calculated as available economic capital and surplus divided by the Bermuda solvency capital requirement as of June 30, 2026 and September 30, 2026, respectively. BSCR ratio is an estimate.
$662 $671 $1,112 $1,061 $1,014 Available dividend capacity from subsidiaries and HoldCo Investments Revolving Credit Facility undrawn capacity Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 24 LEVERAGE DECREASED WHILE LIQUIDITY HAS INCREASED Leverage1 Liquidity $ numbers in USD millions Key Comments 2 27.2% 23.8% 24.8% 21.8% 23.0% 34.2% 29.7% 32.5% 28.1% Debt / Capital Debt + Preferred / Capital FY 22 FY 23 FY 24 FY 25 Q3'26 – Robust capital and liquidity position: ◦ Leverage ratio1 of 23.0%, down versus FY 25 due to preference share redemption in Q1'26 and continued strong earnings ◦ Liquidity continues to be at healthy levels following the sale of Arcadian, higher subsidiary dividend capacity at the start of year, and portfolio repositioning – Balance sheet continues to be undervalued, with consolidated MGAs held at book value of c.$160m producing approximately $35-40m of net services fee income in 2026 – LPTs continue to have >95% of the combined limit remaining Notes: [1] Debt / Capital Ratio calculated as debt divided by total capital. Debt + Preferred / Capital calculated as debt plus preference shares divided by total capital. Total capital represents the sum of shareholders’ equity and debt. [2] HoldCo Investments comprised of investment assets, cash and cash equivalents.
Appendix A: Supplementary Slides
2022-2023: Turnaround 2024: Major Reshaping 26 Notes: [1] Total Shareholder Return (TSR) calculated from September 21, 2022, when the management changes occurred. 2025 Onwards figure calculated through November 4, 2026. [2] For Core business. [3] As demonstrated on slide 9 based on the last twelve quarters (i.e., three years) as at Q2'26. PLATFORM RESHAPING ENABLING PROFITABLE GROWTH 132% Cumulative TSR to date1 228% Cumulative TSR to date1 Exited non-core International Property Reinsurance, Cyber & Workers' Compensation De-risked investment portfolio Underwriter compensation structure aligned to shareholder interests Implemented >$50m of run-rate cost savings Significant improvement on employee engagement metrics LPTs covering $2.1bn of reserves from exited business, with >95% limit remaining Completed external validation of reserving prudence - 15 consecutive quarters of favorable PYD at FY 24 Settled Merger Instruments eliminating dilution and removing volatility Unlocked and recognized $100m off-Balance Sheet MGA value during 2024 Capital structure simplified through share buyback and debt actions 416% Cumulative TSR to date1 $1.0bn Capital returned to shareholders Outperformed across the cycle Operating ROE target of 12-15% in FY 25 and 9M'26 Sixteen consecutive quarters of UW profit Track record of strong growth in Insurance & Services, discipline in Reinsurance FY 25 attritional combined ratio2 of 91.6% down from 93.1% in FY 24 and 95.8% in FY 23 Stable combined ratio performance vs peers3; growth in A&H and Surety Realized $189m off-Balance Sheet MGA value Robust balance sheet: BSCR ratio improved to 232% and leverage ratio reduced to historic low. Run-off LPT deal to further enhance 2025 Onward: Profitable Growth APPENDIX A1 $300m Capital returned to shareholders
24% 45% 12% 8% 7% 4% IMG Health/Medical Life Personal Accident Supplemental Health Other Travel 27 ACCIDENT & HEALTH TO BECOME A STANDALONE SEGMENT Investing in IMG's Distribution and ServicesAccident & Health Portfolio Overview – IMG is a 100%-owned A&H MGA that is a core part of the business for both underwriting and fee income – IMG's acquisitions integrate complementary businesses to form a unified platform ◦ Expands global footprint ◦ Strengthens capabilities ◦ Drives operational efficiency – Undervalued on the balance sheet ($158m at Q3'26) with $35-40m of expected fee income in 2026 SiriusPoint GWP Accident & Health GWP LTM GWP $1.0bn 20+ year track record of consistent profitability Stable book is a "volatility shock absorber" to wider portfolio Less correlated to wider P&C pricing cycles Low capital intensity underwriting and capital-light fee income + + 2026e Net Service Fee Income $35-40m Q3'26 Consolidated IMG Book Value1 $158m APPENDIX A2 26%74% LTM GWP $3.9bn Notes: [1] Book value increased in the third quarter reflecting the completion of the World Nomads acquisition.
$262m $204m $105m $102m $60m Held Value <$5m Held Value $5-$10m Held Value $10-$20m Held Value >$20m Q4'22 Q4'23 Q4'24 Q4'25 Q3'26 28 STRATEGIC MGA INVESTMENTS Non-Consolidated MGA Investments $ numbers in USD millions Core (Go-Forward MGAs) Q3'26 Change 9M'26 Change Service Revenue $62 19% $175 20% Net Services Fee Income $12 44% $30 40% Service Margin 19.7% +3.4 ppts 17.0% +2.4 ppts APPENDIX A3 Consolidated MGA Investments 100%-owned A&H 75%-owned Specialty
11.7% 7.9% 6.4% 4.5% 4.3% 4.1% 3.5% 3.2% 2.7% 2.6% 1.9% 1.4% 0.6% 0.5% Peer A Peer G Peer H Peer F Peer I Peer E Peer C Peer B Peer D Peer M Peer K Peer L SiriusPoint Peer J 22.5% 8.4% 8.4% 6.3% 5.5% 5.3% 3.9% 3.5% 2.9% 2.8% 2.7% 1.8% 1.2% 0.7% Peer A Peer B Peer G Peer F Peer E Peer C Peer I Peer H SiriusPoint Peer D Peer K Peer M Peer L Peer J 22.5% 8.0% 7.3% 6.5% 6.3% 5.5% 5.0% 5.0% 4.3% 2.6% 2.5% 2.5% 1.7% 0.8% Peer A Peer G Peer E Peer H Peer B Peer F Peer I Peer C Peer D Peer K Peer M SiriusPoint Peer L Peer J 25.3% 16.3% 9.0% 7.8% 7.8% 6.0% 5.9% 5.5% 5.0% 4.3% 2.2% 1.6% 1.1% 0.6% Peer A Peer B Peer C Peer D Peer E SiriusPoint Peer F Peer G Peer I Peer H Peer K Peer M Peer L Peer J 29 DELIBERATE ACTIONS HAVE REDUCED CATASTROPHE VOLATILITY FY 21 Catastrophe Loss Ratio FY 23 Catastrophe Loss Ratio FY 24 Notes: Peer companies include American Financial Group, AIG, Arch, AXIS, Chubb, Everest, Hamilton, Markel, Pelagos, Selective, Skyward Specialty, Travelers and W.R. Berkley. 33.6% 18.8% 15.1% 10.9% 9.5% 8.3% 7.1% 6.0% 5.4% 5.4% 3.0% 2.5% 2.4% 1.8% Peer A SiriusPoint Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Peer K Peer L Peer M FY 25 Catastrophe Loss RatioCatastrophe Loss Ratio FY 22 Catastrophe Loss Ratio 20.4% 6.0% 5.9% 4.7% 4.3% 4.2% 4.0% 3.2% 3.2% 2.2% 2.0% 1.9% 1.9% 0.5% Peer A Peer G Peer H Peer E Peer D Peer F Peer B Peer C Peer I Peer K Peer M Peer L Peer J SiriusPoint HY 26 Catastrophe Loss Ratio APPENDIX A4
30 ABBREVIATION GLOSSARY APPENDIX A5 Abbreviation Definition Abbreviation Definition A&H Accident & Health LPT Loss Portfolio Transfer ABS Asset-Backed Security MBS Mortgage-Backed Security Acq Acquisition MGA Managing General Agent AOCI Accumulated Other Comprehensive Income NEP Net Earned Premium BVPS Book Value Per Share NII Net Investment Income BSCR Bermuda Solvency Capital Ratio NWP Net Written Premium CLO Collateralized Loan Obligation OUE Other Underwriting Expense COR Combined Ratio P&C Property & Casualty EBITDA Earnings Before Interest, Taxes, Depreciation, and Amortization PPT Percentage Point EPS Earnings Per Share Pref Series B Preference Shares FinPro Financial & Professional Lines PYD Prior Year Development FSR Financial Strength Rating ROE Return on Equity FY Full Year STI Short-term Investment GAAP Generally Accepted Accounting Principles TPE Third Point Enhanced Fund GWP Gross Written Premium TSR Total Shareholder Return HoldCo Holding Company UW Underwriting IG Investment Grade XL Excess of Loss IMG International Medical Group YoY Year over Year
Appendix B: Non-GAAP Reconciliations
32 RECONCILIATION OF QUARTERLY OPERATING NET INCOME Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23 Q2'23 Q1'23 Q4'22 Net income (loss) available to SiriusPoint common shareholders $ 86.8 $ 68.6 $ 99.6 $ 240.0 $ 86.8 $ 59.2 $ 57.6 $ (21.3) $ 4.5 $ 109.9 $ 90.8 $ 93.5 $ 57.5 $ 55.9 $ 131.9 $ (26.6) Non-recurring adjustments: Gains on sale or deconsolidation of consolidated MGAs — — (25.2) (222.4) — — — — — (96.0) — — — — — — (Gains) losses on other investments 6.6 6.4 1.8 6.0 (1.1) — 0.5 34.3 3.4 52.9 (0.1) 15.4 17.2 3.7 3.9 25.7 MGA & other investment rationalization 6.6 6.4 (23.4) (216.4) (1.1) — 0.5 34.3 3.4 (43.1) (0.1) 15.4 17.2 3.7 3.9 25.7 (Income) loss on settlement and change in fair value of liability- classified capital instruments (CMIG merger instruments) — — — — — — — 25.9 117.3 (10.6) 15.9 15.0 0.3 19.1 25.0 11.5 COVID-19 favorable reserve development1 — — — — — — — (19.9) — — — — — — — CMIG instruments & transactions — — — — — — — 25.9 97.4 (10.6) 15.9 15.0 0.3 19.1 25.0 11.5 (Income) expense related to loss portfolio transfers 5.1 5.2 5.6 7.2 7.7 6.6 5.9 28.9 1.9 5.8 8.0 2.1 4.5 (6.6) (101.6) — Amortization of acquisition-related intangible assets 2.5 2.4 2.6 2.4 2.8 2.8 2.9 3.0 3.0 3.0 2.9 2.9 2.9 2.9 2.4 2.1 Bermuda corporate income tax enactment — — — (13.0) — — — — — — — (100.8) — — — — Restructuring costs — — — — — — — — — — — — — — — 30.0 Foreign exchange (gains) losses 3.2 (1.8) 1.3 8.3 2.4 16.7 (2.2) (12.9) 3.0 3.6 (3.7) 19.2 (1.8) 17.4 0.1 61.5 Other non-recurring items 2.8 3.7 5.3 6.5 (11.0) — — — — — — — — — — — Income tax (expense) benefit on adjustments2 (3.8) (3.0) (3.2) 52.7 (0.2) (5.0) (1.3) (11.9) (16.3) (8.2) (3.5) (8.2) (3.5) (5.5) 10.5 (15.1) Operating net income available to SiriusPoint common shareholders $ 103.2 $ 81.5 $ 87.8 $ 87.7 $ 87.4 $ 80.3 $ 63.4 $ 46.0 $ 96.9 $ 60.4 $ 110.4 $ 39.1 $ 77.1 $ 86.9 $ 72.2 $ 89.1 Operating net income per diluted common share $ 0.88 $ 0.68 $ 0.72 $ 0.72 $ 0.74 $ 0.68 $ 0.53 $ 0.29 $ 0.54 $ 0.32 $ 0.59 $ 0.22 $ 0.43 $ 0.48 $ 0.41 $ 0.56 Notes: Metric referenced on slides 6, 7 and 18. Prior period results have been recast to reflect current period presentation. [1] This development, primarily related to business written by legacy Third Point Reinsurance Ltd., is the result of the COVID-19 reserve study performed concurrently with the settlement of the Series A Preference shares in the third quarter of 2024. [2] An effective tax rate of 15% for 2022 to 2024 and 19% for 2025 and onwards is applied to the adjustments to calculate the income tax (expense) benefit, where applicable. Periods may have a different effective tax rate based on the jurisdiction of specific transactions. APPENDIX B1
33 RECONCILIATION OF QUARTERLY CORE OPERATING NET INCOME Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Operating net income available to SiriusPoint common shareholders $ 103.2 $ 81.5 $ 87.8 $ 87.7 $ 87.4 $ 80.3 $ 63.4 $ 46.0 $ 96.9 $ 60.4 $ 110.4 Run-off (non-core) underwriting results $ 3.2 $ 4.0 $ 18.8 $ 10.3 $ 6.6 $ 7.1 $ 4.4 $ 52.6 $ (1.0) $ 9.6 $ (10.7) Adjustment for previously excluded amounts relating to run-off — — — — 0.6 (1.3) (1.3) (25.3) (1.6) (0.8) 0.7 Run-off tax impact1 (0.6) (0.8) (3.6) (2.0) (1.4) (1.1) (0.6) (4.1) 0.4 (1.3) 1.5 Core Operating net income available to SiriusPoint common shareholders $ 105.8 $ 84.7 $ 103.1 $ 96.1 $ 93.3 $ 85.0 $ 65.9 $ 69.2 $ 94.7 $ 67.9 $ 101.9 Core Operating net income per diluted common share $ 0.90 $ 0.71 $ 0.85 $ 0.79 $ 0.79 $ 0.72 $ 0.56 $ 0.43 $ 0.53 $ 0.36 $ 0.54 Notes: Prior period results have been recast to reflect current period presentation. [1] An effective tax rate of 15% for 2022 to 2024 and 19% for 2025 and onwards is applied to the adjustments to calculate the income tax (expense) benefit, where applicable. Periods may have a different effective tax rate based on the jurisdiction of specific transactions. APPENDIX B2
34 RECONCILIATION OF QUARTERLY OPERATING RETURN ON EQUITY AND CORE OPERATING RETURN ON EQUITY Notes: Metric(s) referenced on slides 6 and 11. Prior period results have been recast to reflect current period presentation. APPENDIX B3 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Operating net income $ 103.2 $ 81.5 $ 87.8 $ 87.7 $ 87.4 $ 80.3 $ 63.4 $ 46.0 $ 96.9 $ 60.4 $ 110.4 Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period 2,275.9 2,302.4 2,269.8 2,009.9 1,905.7 1,825.2 1,737.4 2,494.9 2,504.1 2,402.6 2,313.9 Less: Accumulated other comprehensive income (loss), net of tax - beginning of period (21.3) 6.3 61.9 52.3 46.5 26.4 (4.1) 81.5 (28.0) (17.4) 3.1 Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period 2,297.2 2,296.1 2,207.9 1,957.6 1,859.2 1,798.8 1,741.5 2,413.4 2,532.1 2,420.0 2,310.8 Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period 2,228.3 2,275.9 2,302.4 2,269.8 2,009.9 1,905.7 1,825.2 1,737.4 2,494.9 2,504.1 2,402.6 Adjustments to net income to arrive at Operating net income 16.4 12.9 (11.8) (152.3) 0.6 21.1 5.8 67.3 92.4 (49.5) 19.6 Less: Accumulated other comprehensive income (loss), net of tax - end of period (135.9) (21.3) 6.3 61.9 52.3 46.5 26.4 (4.1) 81.5 (28.0) (17.4) Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period 2,380.6 2,310.1 2,284.3 2,055.6 1,958.2 1,880.3 1,804.6 1,808.8 2,505.8 2,482.6 2,439.6 Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI 2,338.9 2,303.1 2,246.1 2,006.6 1,908.7 1,839.6 1,773.0 2,111.1 2,518.9 2,451.3 2,375.2 Annualized Operating ROE 17.6 % 14.2 % 15.6 % 17.5 % 18.3 % 17.5 % 14.3 % 8.7 % 15.4 % 9.9 % 18.6 % Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Core Operating net income $ 105.8 $ 84.7 $ 103.1 $ 96.1 $ 93.3 $ 85.0 $ 65.9 $ 69.2 $ 94.7 $ 67.9 $ 101.9 Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period 2,275.9 2,302.4 2,269.8 2,009.9 1,905.7 1,825.2 1,737.4 2,494.9 2,504.1 2,402.6 2,313.9 Less: Accumulated other comprehensive income (loss), net of tax - beginning of period (21.3) 6.3 61.9 52.3 46.5 26.4 (4.1) 81.5 (28.0) (17.4) 3.1 Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period 2,297.2 2,296.1 2,207.9 1,957.6 1,859.2 1,798.8 1,741.5 2,413.4 2,532.1 2,420.0 2,310.8 Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period 2,228.3 2,275.9 2,302.4 2,269.8 2,009.9 1,905.7 1,825.2 1,737.4 2,494.9 2,504.1 2,402.6 Adjustments to net income to arrive at Core Operating net income 19.0 16.1 3.5 (143.9) 6.5 25.8 8.3 90.5 90.2 (42.0) 11.1 Less: Accumulated other comprehensive income (loss), net of tax - end of period (135.9) (21.3) 6.3 61.9 52.3 46.5 26.4 (4.1) 81.5 (28.0) (17.4) Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period 2,383.2 2,313.3 2,299.6 2,064.0 1,964.1 1,885.0 1,807.1 1,832.0 2,503.6 2,490.1 2,431.1 Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI 2,340.2 2,304.7 2,253.8 2,010.8 1,911.7 1,841.9 1,774.3 2,122.7 2,517.9 2,455.1 2,371.0 Annualized Core Operating ROE 18.1 % 14.7 % 18.3 % 19.1 % 19.5 % 18.5 % 14.9 % 13.0 % 15.0 % 11.1 % 17.2 %
9M'26 9M'25 Net income available to SiriusPoint common shareholders $ 255.0 $ 203.6 Non-recurring adjustments: Gains on sale or deconsolidation of consolidated MGAs (25.2) — (Gains) losses on other investments 14.8 (0.6) MGA & other investment rationalization (10.4) (0.6) (Income) expense related to loss portfolio transfers 16.0 20.2 Amortization of acquisition-related intangible assets 7.5 8.5 Foreign exchange (gains) losses 2.7 16.9 Other non-recurring items 11.8 (11.0) Income tax expense on adjustments1 (10.0) (6.5) Operating net income available to SiriusPoint common shareholders $ 272.6 $ 231.1 Operating net income per diluted common share $ 2.29 $ 1.95 Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period $ 2,269.8 $ 1,737.4 Less: Accumulated other comprehensive (income) loss, net of tax (61.9) 4.1 Common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI - beginning of period 2,207.9 1,741.5 Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period 2,228.3 2,009.9 Impact of adjustments from above 17.6 27.5 Less: Accumulated other comprehensive (income) loss, net of tax 135.9 (52.3) Common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI - end of period 2,381.8 1,985.1 Average common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI $ 2,294.9 $ 1,863.3 Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders 15.1 % 14.5 % Annualized Operating return on average common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI 15.8 % 16.5 % 35 RECONCILIATION OF OPERATING RETURN ON EQUITY Notes: Metric referenced on slides 6, 7 and 19. Prior period results have been recast to reflect current period presentation. [1] For the nine months ended September 30, 2026 and 2025, an effective tax rate of 19% is applied to the adjustments to calculate the income tax expense. Adjustments may have a different effective tax rate based on the jurisdiction of specific transactions. APPENDIX B4
9M'26 9M'25 FY 25 FY 24 Operating net income available to SiriusPoint common shareholders $ 272.6 $ 231.1 $ 318.9 $ 313.7 Run-off (non-core) underwriting results 26.0 18.1 28.4 50.5 Adjustment for previously excluded amounts relating to run-off — — (2.0) (27.0) Run-off tax impact (5.0) (3.4) (5.0) (3.5) Core Operating net income available to SiriusPoint common shareholders $ 293.6 $ 245.8 $ 340.3 $ 333.7 Core Operating net income per diluted common share $ 2.46 $ 2.07 $ 2.86 $ 1.86 Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period $ 2,269.8 $ 1,737.4 $ 1,737.4 $ 2,313.9 Less: Accumulated other comprehensive (income) loss, net of tax (61.9) 4.1 4.1 (3.1) Common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI - beginning of period 2,207.9 1,741.5 1,741.5 2,310.8 Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period 2,228.3 2,009.9 2,269.8 1,737.4 Adjustments to Net income to arrive at Core Operating net income 38.6 42.2 (103.3) 149.8 Less: Accumulated other comprehensive (income) loss, net of tax 135.9 (52.3) (61.9) 4.1 Common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI - end of period 2,402.8 1,999.8 2,104.6 1,891.3 Average common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI $ 2,305.4 $ 1,870.7 $ 1,923.1 $ 2,101.1 Annualized Operating return on average common shareholders’ equity attributable to SiriusPoint common shareholders 15.8 % 16.5 % 16.7 % 15.1 % Annualized Core Operating return on average common shareholders’ equity attributable to SiriusPoint common shareholders ex AOCI 17.0 % 17.5 % 17.7 % 15.9 % 36 RECONCILIATION OF CORE OPERATING RETURN ON EQUITY Notes: Metric referenced on slide 11. Prior period results have been recast to reflect current period presentation. APPENDIX B5
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