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SiriusPoint Ltd.


Financial Supplement
September 30, 2025



(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 LaneTel: + 44 203 772 3082
Pembroke HM 08 Email: investor.relations@siriuspt.com
Bermuda Website: www.siriuspt.com


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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 attritional combined ratio 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 runoff 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 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 and Operating diluted earnings per share are non-GAAP financial measures and the most directly comparable U.S. GAAP measure is net income and diluted earnings per share, respectively. 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 strategic and other investments and liability-classified capital instruments, 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, and foreign exchange gains (losses). We believe it is useful to review Operating net income as it better reflects 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. Annualized Operating ROE is calculated by dividing 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. Management believes it is useful to exclude AOCI because it may fluctuate significantly between periods based on movements in interest and currency rates.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: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improve underwriting performance, de-risking our investment portfolio, and transforming our business; the impact of unpredictable catastrophic events, including uncertainties with respect to losses from health pandemics across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation and interest rates, and foreign currency fluctuations; our ability to compete successfully in the insurance and reinsurance market and the effect of consolidation in the insurance and reinsurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including wildfires, and increased severity and frequency of weather-related natural disasters and catastrophes and increased coastal flooding in many geographic areas; geopolitical uncertainty, including the ongoing conflicts in Europe and the Middle East and the uncertainty from policies under the current presidential administration in the U.S., such as the federal government shutdown and financial markets' and businesses' reactions to such events; global economic uncertainty caused by the imposition and/or announcement of tariffs imposed on the import of certain goods into the U.S. from various countries which may have unpredictable consequences including, but not limited to, inflation or trade wars, potential impact on the Company’s credit and mortgage business and potential increase in credit spread which could impact the Company’s short-term capital and liquidity; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint’s investment portfolio; our exposure or potential exposure to corporate income tax in Bermuda and the E.U., U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; and other risks and factors listed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission.
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SiriusPoint Ltd.
Table of Contents
Key Performance Indicators
Consolidated Financial Statements
Consolidated Statements of Income
Consolidated Statements of Income - by Quarter
Operating Segment Information
Segment Reporting - Three months ended September 30, 2025
Segment Reporting - Three months ended September 30, 2024
Segment Reporting - Nine months ended September 30, 2025
Segment Reporting - Nine months ended September 30, 2024
Consolidated Results - by Quarter
Core Results - by Quarter
Insurance & Services 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 net income and Operating diluted earnings per share
Annualized Operating ROE computation

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SiriusPoint Ltd.
Key Performance Indicators
September 30, 2025 and 2024, and September 30, 2025 and December 31, 2024
(expressed in millions of U.S. dollars, except per share data and ratios)

Three months endedNine months ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
($ in millions, except for ratios and per share amounts)
Combined ratio85.9 %84.4 %87.8 %86.1 %
Core underwriting income (1)
$69.6 $62.5 $165.7 $143.7 
Core net services income (1)
$10.1 $7.0 $37.7 $34.2 
Core income (1)
$79.7 $69.5 $203.4 $177.9 
Core combined ratio (1)
89.1 %88.5 %91.4 %91.1 %
Operating net income (1)
$85.2 $94.3 $224.3 $260.1 
Operating diluted earnings per share (1)
$0.72 $0.51 $1.89 $1.41 
Annualized ROE17.7 %0.7 %14.5 %11.4 %
Annualized Operating ROE (1)
17.9 %15.0 %16.1 %14.5 %

September 30, 2025December 31, 2024
Book value per common share$17.21 $14.92 
Book value per diluted common share (1)
$16.91 $14.60 
Tangible book value per diluted common share (1)
$15.87 $13.42 
(1)Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting.” In addition, Operating net income, Operating diluted earnings per share, Annualized Operating ROE are non-GAAP financial measures. See reconciliations in “Operating net income and Operating diluted earnings per share,”Operating diluted earnings per share computation," and "Annualized Operating ROE computation." Book value per diluted common share and tangible book value per diluted common share are non-GAAP financial measures. See reconciliation in “Book Value per Share - by Quarter.”

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SiriusPoint Ltd.
Consolidated Balance Sheets - by Quarter
(expressed in millions of U.S. dollars)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses $5,145.6 $4,735.9 $4,635.2 $5,131.0 $5,411.8 
Debt securities, trading, at fair value98.7 102.9 117.6 162.2 233.1 
Short-term investments, at fair value24.6 54.9 48.2 95.8 52.4 
Other long-term investments, at fair value318.3 320.1 317.7 316.5 350.6 
Total investments5,587.2 5,213.8 5,118.7 5,705.5 6,047.9 
Cash and cash equivalents582.4 732.4 740.3 682.0 640.7 
Restricted cash and cash equivalents135.3 190.8 184.9 212.6 174.5 
Due from brokers10.0 8.2 18.8 11.2 13.9 
Interest and dividends receivable43.9 42.5 42.1 44.0 49.4 
Insurance and reinsurance balances receivable, net2,291.4 2,290.1 2,240.8 2,054.4 2,069.1 
Deferred acquisition costs, net381.1 379.5 369.3 327.5 330.0 
Unearned premiums ceded487.1 484.0 514.3 463.9 467.2 
Loss and loss adjustment expenses recoverable, net2,162.9 2,263.9 2,335.7 2,315.3 2,198.7 
Deferred tax asset282.2 297.1 293.3 297.0 249.2 
Intangible assets123.6 135.1 137.9 140.8 143.8 
Other assets330.0 318.3 284.4 270.7 298.1 
Assets held for sale43.1 — — — — 
Total assets$12,460.2 $12,355.7 $12,280.5 $12,524.9 $12,682.5 
Liabilities
Loss and loss adjustment expense reserves$5,811.7 $5,817.4 $5,762.6 $5,653.9 $5,702.1 
Unearned premium reserves1,867.9 1,854.0 1,816.8 1,639.2 1,684.0 
Reinsurance balances payable1,492.1 1,539.9 1,707.5 1,781.6 1,509.6 
Deferred gain on retroactive reinsurance— — 6.6 8.5 21.7 
Debt682.5 678.4 663.5 639.1 660.5 
Due to brokers27.5 9.0 6.6 18.0 23.1 
Deferred tax liability78.5 89.6 94.2 76.2 38.9 
Liability-classified capital instruments— — — — 58.4 
Share repurchase liability— — — 483.0 — 
Other liabilities263.2 260.6 196.0 286.6 287.7 
Liabilities held for sale25.8 — — — — 
Total liabilities10,249.2 10,248.9 10,253.8 10,586.1 9,986.0 
Commitments and contingent liabilities
Shareholders’ equity
Series B preference shares200.0 200.0 200.0 200.0 200.0 
Common shares11.7 11.7 11.6 11.6 16.2 
Additional paid-in capital957.4 945.8 944.7 945.0 1,591.0 
Retained earnings988.5 901.7 842.5 784.9 806.2 
Accumulated other comprehensive income (loss), net of tax52.3 46.5 26.4 (4.1)81.5 
Shareholders’ equity attributable to SiriusPoint shareholders2,209.9 2,105.7 2,025.2 1,937.4 2,694.9 
Noncontrolling interests1.1 1.1 1.5 1.4 1.6 
Total shareholders’ equity2,211.0 2,106.8 2,026.7 1,938.8 2,696.5 
Total liabilities, noncontrolling interests and shareholders’ equity$12,460.2 $12,355.7 $12,280.5 $12,524.9 $12,682.5 
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SiriusPoint Ltd.
Consolidated Statements of Income
(expressed in millions of U.S. dollars, except share and per share data)
Three months endedNine months ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Revenues
Net premiums earned$647.7 $568.9 $1,926.4 $1,753.2 
Net investment income66.5 77.7 205.9 234.7 
Net realized and unrealized investment gains (losses)6.2 14.8 6.6 (39.1)
Net investment income and net realized and unrealized investment gains (losses)72.7 92.5 212.5 195.6 
Other revenues35.5 18.1 92.5 164.8 
Loss on settlement and change in fair value of liability-classified capital instruments— (117.3)— (122.6)
Total revenues755.9 562.2 2,231.4 1,991.0 
Expenses
Loss and loss adjustment expenses incurred, net372.9 317.5 1,147.3 999.4 
Acquisition costs, net139.8 117.5 410.4 382.3 
Other underwriting expenses43.6 44.9 133.0 127.8 
Net corporate and other expenses62.5 51.4 194.0 174.0 
Intangible asset amortization2.8 3.0 8.5 8.9 
Interest expense21.0 13.8 60.2 50.0 
Foreign exchange losses2.4 3.0 16.9 2.9 
Total expenses645.0 551.1 1,970.3 1,745.3 
Income before income tax expense110.9 11.1 261.1 245.7 
Income tax expense(20.2)(2.4)(45.1)(26.3)
Net income90.7 8.7 216.0 219.4 
Net (income) loss attributable to noncontrolling interests0.1 (0.2)(0.4)(2.2)
Net income available to SiriusPoint90.8 8.5 215.6 217.2 
Dividends on Series B preference shares(4.0)(4.0)(12.0)(12.0)
Net income available to SiriusPoint common shareholders$86.8 $4.5 $203.6 $205.2 
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders ⁽¹⁾$0.74 $0.03 $1.75 $1.15 
Diluted earnings per share available to SiriusPoint common shareholders ⁽¹⁾$0.73 $0.03 $1.71 $1.11 
Weighted average number of common shares used in the determination of earnings per share
Basic116,726,540 165,659,401 116,412,996 168,275,970 
Diluted118,817,903 172,803,298 118,655,606 174,261,326 
(1)    Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options and unvested restricted shares. Diluted earnings per share is based on the weighted average number of common shares and participating securities outstanding and includes any dilutive effects of warrants, options and unvested restricted shares under share plans and are determined using the treasury stock method. U.S. GAAP requires that participating securities be treated in the same manner as outstanding shares for earnings per share calculations. The Company treats certain of its unvested restricted shares as participating securities. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.
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SiriusPoint Ltd.
Consolidated Statements of Income - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Revenues
Net premiums earned$647.7 $652.0 $626.7 $590.3 $568.9 
Net investment income66.5 68.2 71.2 68.9 77.7 
Net realized and unrealized investment gains (losses)6.2 0.7 (0.3)(39.9)14.8 
Net investment income and net realized and unrealized investment gains (losses)72.7 68.9 70.9 29.0 92.5 
Other revenues35.5 27.3 29.7 19.4 18.1 
Loss on settlement and change in fair value of liability-classified capital instruments— — — (25.9)(117.3)
Total revenues755.9 748.2 727.3 612.8 562.2 
Expenses
Loss and loss adjustment expenses incurred, net372.9 372.6 401.8 369.1 317.5 
Acquisition costs, net139.8 140.9 129.7 134.6 117.5 
Other underwriting expenses43.6 48.3 41.1 53.9 44.9 
Net corporate and other expenses62.5 70.9 60.6 58.1 51.4 
Intangible asset amortization2.8 2.8 2.9 3.0 3.0 
Interest expense21.0 21.1 18.1 19.6 13.8 
Foreign exchange (gains) losses2.4 16.7 (2.2)(12.9)3.0 
Total expenses645.0 673.3 652.0 625.4 551.1 
Income (loss) before income tax expense110.9 74.9 75.3 (12.6)11.1 
Income tax expense(20.2)(11.6)(13.3)(4.4)(2.4)
Net income (loss)90.7 63.3 62.0 (17.0)8.7 
Net (income) loss attributable to noncontrolling interests0.1 (0.1)(0.4)(0.3)(0.2)
Net income (loss) available to SiriusPoint90.8 63.2 61.6 (17.3)8.5 
Dividends on Series B preference shares(4.0)(4.0)(4.0)(4.0)(4.0)
Net income (loss) available to SiriusPoint common shareholders$86.8 $59.2 $57.6 $(21.3)$4.5 
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders ⁽¹⁾$0.74 $0.51 $0.50 $(0.13)$0.03 
Diluted earnings (loss) per share available to SiriusPoint common shareholders ⁽¹⁾$0.73 $0.50 $0.49 $(0.13)$0.03 
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic116,726,540 116,523,435 115,975,961 161,378,360 165,659,401 
Diluted118,817,903 118,669,471 118,555,166 161,378,360 172,803,298 
(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 and preference 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.
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SiriusPoint Ltd.
Consolidated Statements of Comprehensive Income - by Quarter
(expressed in millions of U.S. dollars)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Comprehensive income (loss)
Net income (loss)$90.7 $63.3 $62.0 $(17.0)$8.7 
Other comprehensive income (loss), net of tax
Change in foreign currency translation adjustment(3.3)3.4 (0.2)2.6 0.4 
Unrealized gains (losses) from debt securities held as available for sale investments2.2 19.1 32.7 (89.1)112.2 
Reclassifications from accumulated other comprehensive income (loss)6.9 (2.4)(2.0)0.9 (3.1)
Total other comprehensive income (loss)5.8 20.1 30.5 (85.6)109.5 
Comprehensive income (loss)96.5 83.4 92.5 (102.6)118.2 
Net (income) loss attributable to noncontrolling interests0.1 (0.1)(0.4)(0.3)(0.2)
Comprehensive income (loss) available to SiriusPoint$96.6 $83.3 $92.1 $(102.9)$118.0 
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SiriusPoint Ltd.
Segment Reporting - Three months ended September 30, 2025
(expressed in millions of U.S. dollars, except ratios)
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$562.0 $309.6 $871.6 $— $2.8 $— $874.4 
Net premiums written 396.8 268.1 664.9 — 5.4 — 670.3 
Net premiums earned381.2 262.3 643.5 — 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, net98.3 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 revenues58.5 — 58.5 (32.7)— (25.8)— 
Services expenses48.5 — 48.5 — — (48.5)— 
Net services fee income10.0 — 10.0 (32.7)— 22.7 — 
Services noncontrolling loss0.1 — 0.1 — — (0.1)— 
Net services income10.1 — 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 income66.5 — 66.5 
Net realized and unrealized investment gains6.2 — 6.2 
Other revenues9.7 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 (loss) 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 income79.7 (4.3)15.4 (0.1)90.7 
Net (income) 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 ratio61.6 %55.3 %59.0 %59.0 %
Catastrophe loss ratio— %— %— %— %
Prior year loss development ratio(2.5)%0.2 %(1.4)%(1.4)%
Loss ratio59.1 %55.5 %57.6 %57.6 %
Acquisition cost ratio25.8 %24.7 %25.3 %21.6 %
Other underwriting expenses ratio5.2 %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 premiums earned.
(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.
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SiriusPoint Ltd.
Segment Reporting - Three months ended September 30, 2024
(expressed in millions of U.S. dollars, except ratios)
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$376.0 $314.5 $690.5 $— $23.5 $— $714.0 
Net premiums written235.3 268.3 503.6 — 0.6 — 504.2 
Net premiums earned276.9 269.4 546.3 — 22.6 — 568.9 
Loss and loss adjustment expenses incurred, net170.1 137.6 307.7 (1.4)11.2 — 317.5 
Acquisition costs, net65.9 69.8 135.7 (24.1)5.9 — 117.5 
Other underwriting expenses20.0 20.4 40.4 — 4.5 — 44.9 
Underwriting income20.9 41.6 62.5 25.5 1.0 — 89.0 
Services revenues48.1 — 48.1 (29.9)— (18.2)— 
Services expenses41.3 — 41.3 — — (41.3)— 
Net services fee income6.8 — 6.8 (29.9)— 23.1 — 
Services noncontrolling loss0.2 — 0.2 — — (0.2)— 
Net services income7.0 — 7.0 (29.9)— 22.9 — 
Segment income27.9 41.6 69.5 (4.4)1.0 22.9 89.0 
Net investment income77.7 — 77.7 
Net realized and unrealized investment gains14.8 — 14.8 
Other revenues(0.1)18.2 18.1 
Loss on settlement and change in fair value of liability-classified capital instruments(117.3)— (117.3)
Net corporate and other expenses(10.1)(41.3)(51.4)
Intangible asset amortization(3.0)— (3.0)
Interest expense(13.8)— (13.8)
Foreign exchange losses(3.0)— (3.0)
Income (loss) before income tax benefit$27.9 $41.6 69.5 (4.4)(53.8)(0.2)11.1 
Income tax expense— — (2.4)— (2.4)
Net income (loss)69.5 (4.4)(56.2)(0.2)8.7 
Net income attributable to noncontrolling interest— — (0.4)0.2 (0.2)
Net income (loss) available to SiriusPoint$69.5 $(4.4)$(56.6)$— $8.5 
Attritional losses$183.9 $142.9 $326.8 $(1.4)$12.1 $— $337.5 
Catastrophe losses(0.7)11.3 10.6 — — — 10.6 
Prior year loss reserve development(13.1)(16.6)(29.7)— (0.9)— (30.6)
Loss and loss adjustment expenses incurred, net$170.1 $137.6 $307.7 $(1.4)$11.2 $— $317.5 
Underwriting Ratios: (1)
Attritional loss ratio66.4 %53.1 %59.8 %59.3 %
Catastrophe loss ratio(0.3)%4.2 %1.9 %1.9 %
Prior year loss development ratio(4.7)%(6.2)%(5.4)%(5.4)%
Loss ratio61.4 %51.1 %56.3 %55.8 %
Acquisition cost ratio23.8 %25.9 %24.8 %20.7 %
Other underwriting expenses ratio7.2 %7.6 %7.4 %7.9 %
Combined ratio92.4 %84.6 %88.5 %84.4 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(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.
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SiriusPoint Ltd.
Segment Reporting - Nine months ended September 30, 2025
(expressed in millions of U.S. dollars, except ratios)
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$1,757.5 $1,034.1 $2,791.6 $— $15.7 $— $2,807.3 
Net premiums written 1,273.1 843.6 2,116.7 — 1.0 — 2,117.7 
Net premiums earned1,086.6 828.3 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, net283.5 202.3 485.8 (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 revenues178.7 — 178.7 (94.6)— (84.1)— 
Services expenses141.2 — 141.2 — — (141.2)— 
Net services fee income37.5 — 37.5 (94.6)— 57.1 — 
Services noncontrolling loss0.2 — 0.2 — — (0.2)— 
Net services income37.7 — 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 income205.9 — 205.9 
Net realized and unrealized investment gains6.6 — 6.6 
Other revenues8.4 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 (loss) 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 income203.4 (6.5)19.3 (0.2)216.0 
Net income attributable to noncontrolling interests— — (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 losses4.8 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 ratio60.9 %56.7 %59.1 %58.8 %
Catastrophe loss ratio0.4 %7.6 %3.5 %3.5 %
Prior year loss development ratio(2.0)%(4.3)%(3.0)%(2.7)%
Loss ratio59.3 %60.0 %59.6 %59.6 %
Acquisition cost ratio26.1 %24.4 %25.4 %21.3 %
Other underwriting expenses ratio5.7 %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 premiums earned.
(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.
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SiriusPoint Ltd.
Segment Reporting - Nine months ended September 30, 2024
(expressed in millions of U.S. dollars, except ratios)
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$1,390.5 $1,023.4 $2,413.9 $— $71.2 $— $2,485.1 
Net premiums written913.5 867.2 1,780.7 — 6.4 — 1,787.1 
Net premiums earned838.3 779.2 1,617.5 — 135.7 — 1,753.2 
Loss and loss adjustment expenses incurred, net538.8 406.0 944.8 (4.1)58.7 — 999.4 
Acquisition costs, net206.9 206.8 413.7 (93.8)62.4 — 382.3 
Other underwriting expenses55.4 59.9 115.3 — 12.5 — 127.8 
Underwriting income37.2 106.5 143.7 97.9 2.1 — 243.7 
Services revenues171.3 — 171.3 (101.4)— (69.9)— 
Services expenses135.0 — 135.0 — — (135.0)— 
Net services fee income36.3 — 36.3 (101.4)— 65.1 — 
Services noncontrolling income(2.1)— (2.1)— — 2.1 — 
Net services income34.2 — 34.2 (101.4)— 67.2 — 
Segment income71.4 106.5 177.9 (3.5)2.1 67.2 243.7 
Net investment income234.7 — 234.7 
Net realized and unrealized investment losses(39.1)— (39.1)
Other revenues94.9 69.9 164.8 
Loss on settlement and change in fair value of liability-classified capital instruments(122.6)— (122.6)
Net corporate and other expenses(39.0)(135.0)(174.0)
Intangible asset amortization(8.9)— (8.9)
Interest expense(50.0)— (50.0)
Foreign exchange losses(2.9)— (2.9)
Income before income tax expense$71.4 $106.5 177.9 (3.5)69.2 2.1 245.7 
Income tax expense— — (26.3)— (26.3)
Net income177.9 (3.5)42.9 2.1 219.4 
Net income attributable to noncontrolling interests— — (0.1)(2.1)(2.2)
Net income available to SiriusPoint$177.9 $(3.5)$42.8 $— $217.2 
Attritional losses$546.3 $424.9 $971.2 $(4.1)$86.7 $— $1,053.8 
Catastrophe losses1.9 14.3 16.2 — — — 16.2 
Prior year loss reserve development(9.4)(33.2)(42.6)— (28.0)— (70.6)
Loss and loss adjustment expenses incurred, net$538.8 $406.0 $944.8 $(4.1)$58.7 $— $999.4 
Underwriting Ratios: (1)
Attritional loss ratio65.2 %54.6 %60.0 %60.1 %
Catastrophe loss ratio0.2 %1.8 %1.0 %0.9 %
Prior year loss development ratio(1.1)%(4.3)%(2.6)%(4.0)%
Loss ratio64.3 %52.1 %58.4 %57.0 %
Acquisition cost ratio24.7 %26.5 %25.6 %21.8 %
Other underwriting expenses ratio6.6 %7.7 %7.1 %7.3 %
Combined ratio95.6 %86.3 %91.1 %86.1 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(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.
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SiriusPoint Ltd.
Consolidated Results - by Quarter
(expressed in millions of U.S. dollars, except ratios)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Revenues
Gross premiums written$874.4 $948.2 $984.7 $759.5 $714.0 
Net premiums written670.3 704.4 743.0 565.0 504.2 
Net premiums earned647.7 652.0 626.7 590.3 568.9 
Expenses
Loss and loss adjustment expenses incurred, net372.9 372.6 401.8 369.1 317.5 
Acquisition costs, net139.8 140.9 129.7 134.6 117.5 
Other underwriting expenses43.6 48.3 41.1 53.9 44.9 
Underwriting income$91.4 $90.2 $54.1 $32.7 $89.0 
Attritional losses$381.8 $381.8 $368.1 $367.8 $337.5 
Catastrophe losses, net of reinsurance and reinstatement premiums
— (0.5)67.9 38.6 10.6 
Favorable prior year loss reserve development
$(8.9)$(8.7)$(34.2)$(37.3)$(30.6)
Underwriting Ratios (1):
Loss ratio57.6 %57.1 %64.1 %62.5 %55.8 %
Acquisition cost ratio21.6 %21.6 %20.7 %22.8 %20.7 %
Other underwriting expenses ratio6.7 %7.4 %6.6 %9.1 %7.9 %
Combined ratio85.9 %86.1 %91.4 %94.4 %84.4 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
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SiriusPoint Ltd.
Core Results - by Quarter (1)
(expressed in millions of U.S. dollars, except ratios)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Revenues
Gross premiums written$871.6 $930.1 $989.9 $762.5 $690.5 
Net premiums written664.9 699.8 752.0 560.2 503.6 
Net premiums earned643.5 645.6 625.8 581.6 546.3 
Expenses
Loss and loss adjustment expenses incurred, net370.8 365.6 405.2 323.6 307.7 
Acquisition costs, net163.0 168.4 154.4 150.9 135.7 
Other underwriting expenses40.1 44.0 37.7 50.8 40.4 
Underwriting income69.6 67.6 28.5 56.3 62.5 
Services revenues58.5 58.1 62.1 51.6 48.1 
Services expenses48.5 49.6 43.1 41.2 41.3 
Net services fee income10.0 8.5 19.0 10.4 6.8 
Services noncontrolling (income) loss0.1 0.2 (0.1)— 0.2 
Net services income10.1 8.7 18.9 10.4 7.0 
Segment income$79.7 $76.3 $47.4 $66.7 $69.5 
Attritional losses$379.9 $379.9 $371.6 $343.1 $326.8 
Catastrophe losses, net of reinsurance and reinstatement premiums
— (0.5)67.9 38.6 10.6 
Favorable prior year loss reserve development
$(9.1)$(13.8)$(34.3)$(58.1)$(29.7)
Underwriting Ratios (2):
Loss ratio57.6 %56.6 %64.7 %55.6 %56.3 %
Acquisition cost ratio25.3 %26.1 %24.7 %25.9 %24.8 %
Other underwriting expenses ratio6.2 %6.8 %6.0 %8.7 %7.4 %
Combined ratio89.1 %89.5 %95.4 %90.2 %88.5 %
Accident year loss ratio59.0 %58.8 %70.2 %65.6 %61.8 %
Accident year combined ratio90.6 %91.7 %100.9 %100.3 %94.0 %
Attritional loss ratio59.0 %58.8 %59.3 %59.0 %59.8 %
Attritional combined ratio90.5 %91.7 %90.0 %93.6 %92.0 %
(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 it better reflects how management views the business and reflects our decision to exit the runoff 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 premiums earned. 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 attritional combined ratio exclude catastrophe losses from the respective accident year ratios as they are not predictable as to timing and amount.
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SiriusPoint Ltd.
Insurance & Services Segment - by Quarter
(expressed in millions of U.S. dollars, except ratios)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Revenues
Gross premiums written$562.0 $560.4 $635.1 $450.3 $376.0 
Net premiums written396.8 392.8 483.5 322.7 235.3 
Net premiums earned381.2 369.2 336.2 315.7 276.9 
Expenses
Loss and loss adjustment expenses incurred, net225.3 209.2 209.9 175.3 170.1 
Acquisition costs, net98.3 97.9 87.3 77.8 65.9 
Other underwriting expenses19.9 22.6 18.9 24.6 20.0 
Underwriting income37.7 39.5 20.1 38.0 20.9 
Services revenues58.5 58.1 62.1 51.6 48.1 
Services expenses48.5 49.6 43.1 41.2 41.3 
Net services fee income10.0 8.5 19.0 10.4 6.8 
Services noncontrolling (income) loss0.1 0.2 (0.1)— 0.2 
Net services income10.1 8.7 18.9 10.4 7.0 
Segment income$47.8 $48.2 $39.0 $48.4 $27.9 
Attritional losses$234.8 $218.9 $207.6 $188.2 $183.9 
Catastrophe losses, net of reinsurance and reinstatement premiums
— — 4.8 3.4 (0.7)
(Favorable) adverse prior year loss reserve development
$(9.5)$(9.7)$(2.5)$(16.3)$(13.1)
Underwriting Ratios (1):
Loss ratio59.1 %56.7 %62.4 %55.5 %61.4 %
Acquisition cost ratio25.8 %26.5 %26.0 %24.6 %23.8 %
Other underwriting expenses ratio5.2 %6.1 %5.6 %7.8 %7.2 %
Combined ratio90.1 %89.3 %94.0 %87.9 %92.4 %
Accident year loss ratio61.6 %59.3 %63.2 %60.7 %66.2 %
Accident year combined ratio92.6 %91.9 %94.8 %93.1 %97.2 %
Attritional loss ratio61.6 %59.3 %61.7 %59.6 %66.4 %
Attritional combined ratio92.6 %91.9 %93.3 %92.0 %97.4 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned. 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 attritional combined ratio exclude catastrophe losses from the respective accident year ratios as they are not predictable as to timing and amount.

Page 15 of 23                             
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SiriusPoint Ltd.
Reinsurance Segment - by Quarter
(expressed in millions of U.S. dollars, except ratios)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Revenues
Gross premiums written$309.6 $369.7 $354.8 $312.2 $314.5 
Net premiums written268.1 307.0 268.5 237.5 268.3 
Net premiums earned262.3 276.4 289.6 265.9 269.4 
Expenses
Loss and loss adjustment expenses incurred, net145.5 156.4 195.3 148.3 137.6 
Acquisition costs, net64.7 70.5 67.1 73.1 69.8 
Other underwriting expenses20.2 21.4 18.8 26.2 20.4 
Underwriting income$31.9 $28.1 $8.4 $18.3 $41.6 
Attritional losses$145.1 $161.0 $164.0 $154.9 $142.9 
Catastrophe losses, net of reinsurance and reinstatement premiums
— (0.5)63.1 35.2 11.3 
Favorable prior year loss reserve development
$0.4 $(4.1)$(31.8)$(41.8)$(16.6)
Underwriting Ratios (1):
Loss ratio55.5 %56.6 %67.4 %55.8 %51.1 %
Acquisition cost ratio24.7 %25.5 %23.2 %27.5 %25.9 %
Other underwriting expenses ratio7.7 %7.7 %6.5 %9.9 %7.6 %
Combined ratio87.9 %89.8 %97.1 %93.2 %84.6 %
Accident year loss ratio55.3 %58.1 %78.4 %71.5 %57.2 %
Accident year combined ratio87.7 %91.3 %108.1 %108.8 %90.7 %
Attritional loss ratio55.3 %58.3 %56.6 %58.3 %53.0 %
Attritional combined ratio87.7 %91.5 %86.3 %95.7 %86.5 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned. 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 attritional combined ratio exclude catastrophe losses from the respective accident year ratios as they are not predictable as to timing and amount.
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SiriusPoint Ltd.
Investments - by Quarter
(expressed in millions of U.S. dollars)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Fair Value%Fair Value%Fair Value%Fair Value%Fair Value%
Asset-backed securities$914.4 16.4 %$984.4 18.9 %$1,007.8 19.8 %$1,149.7 20.1 %$1,164.7 19.3 %
Residential mortgage-backed securities974.4 17.5 %916.9 17.6 %931.0 18.2 %973.8 17.1 %1,054.2 17.4 %
Commercial mortgage-backed securities204.4 3.7 %177.6 3.4 %174.0 3.4 %224.5 3.9 %251.6 4.2 %
Corporate debt securities2,043.0 36.7 %1,701.3 32.6 %1,618.3 31.6 %1,899.9 33.3 %1,892.2 31.2 %
U.S. government and government agency990.1 17.7 %936.2 18.0 %881.4 17.2 %859.0 15.1 %1,024.4 16.9 %
Non-U.S. government and government agency19.3 0.2 %19.5 0.3 %22.7 0.4 %24.1 0.4 %24.7 0.4 %
Total debt securities, available for sale5,145.6 92.2 %4,735.9 90.8 %4,635.2 90.6 %5,131.0 89.9 %5,411.8 89.4 %
Asset-backed securities8.6 0.2 %9.7 0.2 %19.1 0.4 %53.1 0.9 %102.9 1.6 %
Residential mortgage-backed securities46.1 0.8 %47.0 0.9 %47.9 0.9 %48.7 0.9 %53.1 0.9 %
Commercial mortgage-backed securities36.1 0.6 %38.6 0.7 %42.7 0.8 %51.8 0.9 %59.1 1.0 %
Corporate debt securities3.7 0.1 %3.5 0.1 %3.8 0.1 %4.6 0.1 %10.3 0.2 %
U.S. government and government agency4.2 0.1 %4.1 0.1 %4.1 0.1 %4.0 0.1 %4.3 0.1 %
Non-U.S. government and government agency— — %— — %— — %— — %3.4 0.1 %
Total debt securities, trading98.7 1.8 %102.9 2.0 %117.6 2.3 %162.2 2.9 %233.1 3.9 %
Short-term investments24.6 0.3 %54.9 1.0 %48.2 0.9 %95.8 1.7 %52.4 0.9 %
Other long-term investments93.5 1.7 %92.2 1.8 %92.4 1.8 %89.9 1.6 %120.3 2.0 %
Cost and equity method investments66.8 1.2 %68.8 1.3 %65.1 1.3 %64.7 1.1 %72.0 1.2 %
Investments in funds valued at net asset value158.0 2.8 %159.1 3.1 %160.2 3.1 %161.9 2.8 %158.3 2.6 %
Total investments$5,587.2 100.0 %$5,213.8 100.0 %$5,118.7 100.0 %$5,705.5 100.0 %$6,047.9 100.0 %


Page 17 of 23                             
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SiriusPoint Ltd.
Earnings per Share - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding116,726,540 116,523,435 115,975,961 161,378,360 165,659,401 
Dilutive effect of options, warrants, restricted share awards, restricted share units, and Series A preference shares2,091,363 2,146,036 2,579,205 — 7,143,897 
Diluted number of common shares outstanding118,817,903 118,669,471 118,555,166 161,378,360 172,803,298 
Basic earnings (loss) per common share:
Net income (loss) available to SiriusPoint common shareholders$86.8 $59.2 $57.6 $(21.3)$4.5 
Net income allocated to SiriusPoint participating common shareholders(0.1)(0.1)(0.1)— (0.1)
Net income (loss) allocated to SiriusPoint common shareholders$86.7 $59.1 $57.5 $(21.3)$4.4 
Basic earnings (loss) per share available to SiriusPoint common shareholders ⁽¹⁾$0.74 $0.51 $0.50 $(0.13)$0.03 
Diluted earnings (loss) per common share:
Net income (loss) available to SiriusPoint common shareholders$86.8 $59.2 $57.6 $(21.3)$4.5 
Net income allocated to SiriusPoint participating common shareholders(0.1)(0.1)(0.1)— (0.1)
Net income (loss) allocated to SiriusPoint common shareholders$86.7 $59.1 $57.5 $(21.3)$4.4 
Diluted earnings (loss) per share available to SiriusPoint common shareholders ⁽¹⁾$0.73 $0.50 $0.49 $(0.13)$0.03 
(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 and preference 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.
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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,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Net income (loss) available to SiriusPoint common shareholders$86.8 $59.2 $57.6 $(21.3)$4.5 
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period1,905.7 1,825.2 1,737.4 2,494.9 2,504.1 
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period2,009.9 1,905.7 1,825.2 1,737.4 2,494.9 
Average common shareholders’ equity attributable to SiriusPoint common shareholders$1,957.8 $1,865.5 $1,781.3 $2,116.2 $2,499.5 
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (1)
17.7 %12.7 %12.9 %(4.0)%0.7 %
(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.
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SiriusPoint Ltd.
Book Value per Share - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Common shareholders’ equity attributable to SiriusPoint common shareholders$2,009.9 $1,905.7 $1,825.2 $1,737.4 $2,494.9 
Accumulated other comprehensive income (loss), net of tax52.3 46.5 26.4 (4.1)81.5 
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI1,957.6 1,859.2 1,798.8 1,741.5 2,413.4 
Intangible assets123.6 135.1 137.9 140.8 143.8 
Tangible common shareholders' equity attributable to SiriusPoint common shareholders$1,886.3 $1,770.6 $1,687.3 $1,596.6 $2,351.1 
Common shares outstanding116,807,497 116,759,539 116,020,526 116,429,057 161,866,867 
Effect of dilutive stock options, restricted share units, warrants and Series A preference shares2,034,652 2,136,069 2,708,756 2,559,359 7,547,229 
Book value per diluted common share denominator118,842,149 118,895,608 118,729,282 118,988,416 169,414,096 
Book value per common share$17.21 $16.32 $15.73 $14.92 $15.41 
Book value per diluted common share$16.91 $16.03 $15.37 $14.60 $14.73 
Book value per diluted common share ex. AOCI (1)
$16.47 $15.64 $15.15 $14.64 $14.25 
Tangible book value per diluted common share (1)
$15.87 $14.89 $14.21 $13.42 $13.88 
(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 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 intangible assets. Management believes that 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. Tangible book value per diluted common share is useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets.
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SiriusPoint Ltd.
Net Corporate and Other Expenses - by Quarter
(expressed in millions of U.S. dollars)
September 30,
2025		June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024
Net corporate and other expenses$62.5 $70.9 $60.6 $58.1 $51.4 
MGA Service expenses$48.5 $49.6 $43.1 $41.2 $41.3 
Corporate and other expenses$12.8 $19.0 $16.9 $14.4 $6.3 
Salaries, benefits and incentives3.4 1.8 3.8 5.5 0.1 
Professional fees6.3 5.6 4.6 2.3 1.0 
Taxes and regulatory fees0.6 5.6 3.3 2.3 2.4 
Corporate insurance1.4 0.9 1.4 1.6 1.2 
Depreciation1.1 1.1 1.2 1.3 1.0 
Other corporate expenses— 4.0 2.6 1.4 0.6 
Non-recurring corporate and other expenses$1.2 $2.3 $0.6 $2.5 $3.8 
Severance0.3 0.3 — 0.4 1.2 
Professional fees0.9 2.0 0.6 2.1 2.6 



















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SiriusPoint Ltd.
Operating net income and Operating diluted earnings per share
(expressed in millions of U.S. dollars, except share and per share data)



Three months endedNine months ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
($ in millions, except share and per share amounts)
Net income available to SiriusPoint common shareholders$86.8 $4.5 $203.6 $205.2 
Non-recurring adjustments:
Gain on sale or deconsolidation of consolidated MGAs— — — (96.0)
(Gains) losses on strategic and other investments(1.1)3.4 (0.6)56.2 
MGA & Strategic Investment Rationalization(1.1)3.4 (0.6)(39.8)
Loss on settlement of liability classified financial instruments and deal costs— 90.7 — 90.7 
Change in fair value of liability classified financial instruments— 26.6 — 31.9 
CMIG Instruments & Transactions— 117.3 — 122.6 
Expense related to loss portfolio transfers7.7 1.9 20.2 15.7 
Foreign exchange losses2.4 3.0 16.9 2.9 
COVID-19 favorable reserve development— (19.9)— (19.9)
Other non-recurring items(11.0)— (11.0)— 
Income tax expense on adjustments (1)
0.4 (15.9)(4.8)(26.6)
Operating net income $85.2 $94.3 $224.3 $260.1 
Weighted average number of diluted common shares used in the determination of earnings per share118,817,903 172,803,298 118,655,606 174,261,326 
Operating diluted earnings per share prior to participating shareholder adjustments$0.72 $0.55 $1.89 $1.49 
Effect of above and net income allocated to participating shareholders— (0.04)— (0.08)
Operating diluted earnings per share$0.72 $0.51 $1.89 $1.41 
(1)    For the three and nine months ended September 30, 2025 and 2024, an effective tax rate of 19% and 15%, respectively, is applied to the above adjustments to calculate the associated income tax expense, where applicable.








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SiriusPoint Ltd.
Annualized Operating ROE computation
(expressed in millions of U.S. dollars, except ratios)

Three months endedNine months ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
(in millions, except for ratios)
Operating net income $85.2 $94.3 $224.3 $260.1 
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period1,905.7 2,504.1 1,737.4 2,313.9 
Accumulated other comprehensive income (loss), net of tax - beginning of period46.5 (28.0)(4.1)3.1 
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period1,859.2 2,532.1 1,741.5 2,310.8 
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period2,009.9 2,494.9 2,009.9 2,494.9 
Adjustments to Net income to arrive at Operating net income(1.6)89.8 20.7 54.9 
Accumulated other comprehensive income (loss), net of tax - end of period52.3 81.5 52.3 81.5 
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period1,956.0 2,503.2 1,978.3 2,468.3 
Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI$1,907.6 $2,517.7 $1,859.9 $2,389.6 
Annualized Operating ROE17.9 %15.0 %16.1 %14.5 %



















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