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HAMILTON, Bermuda - On Monday, SiriusPoint Ltd. (NYSE:SPNT) reported second quarter earnings that exceeded analyst expectations, driven by improved underwriting performance and strong premium growth.
The insurance and reinsurance provider’s shares edged up 0.46% in after hours trading after the announcement.
The company posted adjusted earnings per share of $0.66 for the second quarter, beating the analyst estimate of $0.59. Revenue reached $748.2 million, surpassing the consensus estimate of $719.27 million. SiriusPoint’s Core combined ratio improved to 89.5%, representing a 3.8 percentage point enhancement from the prior year.
Core underwriting income grew 83% YoY to $67.6 million, while gross premiums written increased 10% in the Core business, marking the fifth consecutive quarter of double-digit growth. The company reported a second quarter return on equity of 12.7%, with underlying return on equity of 17.0%, exceeding its 12-15% target range.
"Our second quarter results reflect the strength of our disciplined underwriting strategy," said Scott Egan, Chief Executive Officer. "With each quarter, we demonstrate our ability to deliver consistent and stable earnings. Underlying return on equity for the quarter of 17.0%, and 15.4% for half year, both exceed our 12-15% ’across the cycle’ target."
The company’s book value per diluted common share (excluding accumulated other comprehensive income) increased 3.2% in the quarter to $15.64. SiriusPoint’s balance sheet remains strong with a Q2 2025 BSCR estimate at 223%.
Catastrophe losses were limited for the second quarter, compared to $5.6 million in the same period last year. The company also benefited from $13.8 million of favorable prior year loss reserve development, primarily in Property and Accident & Health businesses.
For the first half of 2025, SiriusPoint reported net income of $116.8 million, or $0.98 per diluted share, with a Core combined ratio of 92.4%.
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