SiriusPoint (SPNT) has shared an update.
SiriusPoint Ltd. has announced a significant expansion of its share repurchase program, now authorized to buy back up to $306.3 million of its common shares without a set expiration date. The company has also entered into agreements for a confidential settlement and mutual release, as well as a share repurchase agreement with CM Bermuda Limited and CMIG International Holding Pte. Ltd., resulting in the repurchase and retirement of SiriusPoint’s Series A preference shares and 9,077,705 common shares for approximately $261.0 million. This move is part of a broader financial strategy, which also includes the approval of a quarterly cash dividend of $0.50 per share on its Series B preference shares, solidifying SiriusPoint’s commitment to enhancing shareholder value.
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