Siriuspoint Ltd ( (SPNT) ) has released its Q1 earnings. Here is a breakdown of the information Siriuspoint Ltd presented to its investors.
SiriusPoint Ltd., a global underwriter of insurance and reinsurance, is headquartered in Bermuda and operates in various international markets, offering Property & Casualty and Accident & Health insurance and reinsurance solutions. The company is known for its strategic partnerships with Managing General Agents and Program Administrators.
SiriusPoint Ltd. reported a strong start to 2025 with its tenth consecutive quarter of underwriting profits and a net income of $58 million for the first quarter. The company achieved a combined ratio of 95.4% in its Core business and experienced a notable growth in net premiums written by 20%, driven by its Insurance & Services segment.
Key financial highlights include a return on equity of 12.9%, which aligns with the company’s target range of 12-15%. Despite a $59 million impact from California wildfires, the company managed to maintain a strong balance sheet with a book value per diluted common share increasing by 3.5% to $15.15. Additionally, AM Best and Fitch have revised SiriusPoint’s outlook to Positive from Stable, reflecting confidence in the company’s performance.
Looking ahead, SiriusPoint’s management remains focused on maintaining growth momentum and delivering consistent earnings throughout 2025. The company aims to continue leveraging its diverse portfolio to achieve its financial targets, despite the challenges posed by natural catastrophes and market conditions.