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SiriusPoint Ltd.


Financial Supplement
March 31, 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 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 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 strategic and 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, 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 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. 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. 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.
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SiriusPoint Ltd.
Table of Contents
Key Performance Indicators
Consolidated Financial Statements
Consolidated Statements of Income - by Quarter
Operating Segment Information
Segment Reporting - Three months ended March 31, 2026
Segment Reporting - Three months ended March 31, 2025
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 and Core Operating Net Income and Earnings per Share
Operating and Core Operating Return on Average Common Shareholders’ Equity
Page 3 of 20                             
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SiriusPoint Ltd.
Key Financial Metrics
March 31, 2026 and 2025
(expressed in millions of U.S. dollars, except per share data and ratios)

20262025
($ in millions, except for ratios and per share amounts)
Combined ratio87.8 %91.4 %
Core combined ratio (1)
88.9 %95.4 %
Core underwriting income (1)
$70.9 $28.5 
Core net services income (1)
$8.4 $18.9 
Operating net income (1)
$85.7 $61.0 
Operating earnings per share (1)
$0.70 $0.51 
Annualized ROE17.4 %12.9 %
Annualized Operating ROE (1)
15.3 %13.8 %

March 31,
2026		December 31, 2025
Book value per common share$19.86 $19.40 
Book value per diluted common share$19.03 $18.61 
Book value per diluted common share ex. AOCI (1)
$18.98 $18.10 
Tangible book value per diluted common share (1)
$17.72 $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.”

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SiriusPoint Ltd.
Consolidated Balance Sheets - by Quarter
(expressed in millions of U.S. dollars)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses $4,892.9 $5,168.6 $5,145.6 $4,735.9 $4,635.2 
Debt securities, trading, at fair value86.0 90.3 98.7 102.9 117.6 
Short-term investments, at fair value32.5 28.3 24.6 54.9 48.2 
Other long-term investments, at fair value295.4 315.1 318.3 320.1 317.7 
Total investments5,306.8 5,602.3 5,587.2 5,213.8 5,118.7 
Cash and cash equivalents856.9 731.2 582.4 732.4 740.3 
Restricted cash and cash equivalents153.8 171.2 135.3 190.8 184.9 
Due from brokers40.1 7.5 10.0 8.2 18.8 
Interest and dividends receivable41.4 47.1 43.9 42.5 42.1 
Insurance and reinsurance balances receivable, net
2,420.8 2,260.3 2,291.4 2,290.1 2,240.8 
Deferred acquisition costs, net403.4 384.1 381.1 379.5 369.3 
Unearned premiums ceded573.3 487.4 487.1 484.0 514.3 
Loss and loss adjustment expenses recoverable, net2,020.2 2,102.3 2,162.9 2,263.9 2,335.7 
Deferred tax asset256.7 267.7 282.2 297.1 293.3 
Goodwill18.6 — — — — 
Intangible assets139.8 121.2 123.6 135.1 137.9 
Other assets251.2 272.1 330.0 318.3 284.4 
Assets held for sale— 115.2 43.1 — — 
Total assets$12,483.0 $12,569.6 $12,460.2 $12,355.7 $12,280.5 
Liabilities
Loss and loss adjustment expense reserves$5,732.7 $5,782.5 $5,811.7 $5,817.4 $5,762.6 
Unearned premium reserves1,991.2 1,855.4 1,867.9 1,854.0 1,816.8 
Reinsurance balances payable1,455.0 1,447.6 1,492.1 1,539.9 1,707.5 
Deferred gain on retroactive reinsurance— — — — 6.6 
Debt679.6 688.6 682.5 678.4 663.5 
Due to brokers3.4 5.5 27.5 9.0 6.6 
Deferred tax liability73.4 73.0 78.5 89.6 94.2 
Liabilities held for sale— — 25.8 — — 
Other liabilities244.3 246.1 263.2 260.6 196.0 
Total liabilities10,179.6 10,098.7 10,249.2 10,248.9 10,253.8 
Commitments and contingent liabilities
Shareholders’ equity
Series B preference shares— 200.0 200.0 200.0 200.0 
Common shares11.6 11.7 11.7 11.7 11.6 
Additional paid-in capital956.4 967.7 957.4 945.8 944.7 
Retained earnings1,328.1 1,228.5 988.5 901.7 842.5 
Accumulated other comprehensive income (loss), net of tax6.3 61.9 52.3 46.5 26.4 
Shareholders’ equity attributable to SiriusPoint shareholders2,302.4 2,469.8 2,209.9 2,105.7 2,025.2 
Noncontrolling interests1.0 1.1 1.1 1.1 1.5 
Total shareholders’ equity2,303.4 2,470.9 2,211.0 2,106.8 2,026.7 
Total liabilities, noncontrolling interests and shareholders’ equity$12,483.0 $12,569.6 $12,460.2 $12,355.7 $12,280.5 
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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)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Revenues
Net earned premium$638.9 $667.4 $647.7 $652.0 $626.7 
Net investment income66.4 68.9 66.5 68.2 71.2 
Net investment gains (losses)11.4 (9.5)6.2 0.7 (0.3)
Other revenues57.9 246.9 35.5 27.3 29.7 
Total revenues774.6 973.7 755.9 748.2 727.3 
Expenses
Loss and loss adjustment expenses incurred, net362.9 372.2 372.9 372.6 401.8 
Acquisition costs, net147.8 173.2 139.8 140.9 129.7 
Other underwriting expenses50.5 54.9 43.6 48.3 41.1 
Net corporate and other expenses71.2 63.0 62.5 70.9 60.6 
Intangible asset amortization2.6 2.4 2.8 2.8 2.9 
Interest expense16.8 19.5 21.0 21.1 18.1 
Foreign exchange (gains) losses1.3 8.3 2.4 16.7 (2.2)
Total expenses653.1 693.5 645.0 673.3 652.0 
Income before income tax expense121.5 280.2 110.9 74.9 75.3 
Income tax expense(19.2)(36.1)(20.2)(11.6)(13.3)
Net income102.3 244.1 90.7 63.3 62.0 
Net (income) loss attributable to noncontrolling interests(0.1)(0.1)0.1 (0.1)(0.4)
Net income available to SiriusPoint102.2 244.0 90.8 63.2 61.6 
Dividends on Series B preference shares(2.6)(4.0)(4.0)(4.0)(4.0)
Net income available to SiriusPoint common shareholders$99.6 $240.0 $86.8 $59.2 $57.6 
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders ⁽¹⁾$0.85 $2.05 $0.74 $0.51 $0.50 
Diluted earnings per share available to SiriusPoint common shareholders ⁽¹⁾$0.82 $1.97 $0.73 $0.50 $0.49 
Weighted average number of common shares used in the determination of earnings per share
Basic116,725,419 116,788,646 116,726,540 116,523,435 115,975,961 
Diluted121,695,056 121,838,966 118,817,903 118,669,471 118,555,166 
(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.
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SiriusPoint Ltd.
Consolidated Statements of Comprehensive Income - by Quarter
(expressed in millions of U.S. dollars)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Comprehensive income
Net income$102.3 $244.1 $90.7 $63.3 $62.0 
Other comprehensive income (loss), net of tax
Change in foreign currency translation adjustments(5.3)2.2 (3.3)3.4 (0.2)
Unrealized gains (losses) from debt securities held as available for sale investments(57.3)6.1 2.2 19.1 32.7 
Reclassifications from accumulated other comprehensive income (loss)7.0 1.3 6.9 (2.4)(2.0)
Total other comprehensive income (loss)(55.6)9.6 5.8 20.1 30.5 
Comprehensive income46.7 253.7 96.5 83.4 92.5 
Net (income) loss attributable to noncontrolling interests(0.1)(0.1)0.1 (0.1)(0.4)
Comprehensive income available to SiriusPoint$46.6 $253.6 $96.6 $83.3 $92.1 
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SiriusPoint Ltd.
Segment Reporting - Three months ended March 31, 2026
(expressed in millions of U.S. dollars, except ratios)
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross written premium$684.6 $319.2 $1,003.8 $— $(0.9)$— $1,002.9 
Net written premium461.1 235.7 696.8 — (1.6)— 695.2 
Net earned premium380.1 258.2 638.3 — 0.6 — 638.9 
Loss and loss adjustment expenses incurred, net215.7 134.0 349.7 (1.8)15.0 — 362.9 
Acquisition costs, net108.0 63.8 171.8 (23.8)(0.2)— 147.8 
Other underwriting expenses26.3 19.6 45.9 — 4.6 — 50.5 
Underwriting income (loss)30.1 40.8 70.9 25.6 (18.8)— 77.7 
Services revenues54.0 — 54.0 (23.1)— (30.9)— 
Services expenses46.1 — 46.1 — — (46.1)— 
Net services fee income7.9 — 7.9 (23.1)— 15.2 — 
Services noncontrolling loss0.5 — 0.5 — — (0.5)— 
Net services income8.4 — 8.4 (23.1)— 14.7 — 
Segment income (loss)38.5 40.8 79.3 2.5 (18.8)14.7 77.7 
Net investment income66.4 — 66.4 
Net investment gains (losses)11.4 — 11.4 
Other revenues27.0 30.9 57.9 
Net corporate and other expenses(25.1)(46.1)(71.2)
Intangible asset amortization(2.6)— (2.6)
Interest expense(16.8)— (16.8)
Foreign exchange losses(1.3)— (1.3)
Income before income tax expense$38.5 $40.8 79.3 2.5 40.2 (0.5)121.5 
Income tax expense— — (19.2)— (19.2)
Net income79.3 2.5 21.0 (0.5)102.3 
Net income attributable to noncontrolling interest— — (0.6)0.5 (0.1)
Net income available to SiriusPoint$79.3 $2.5 $20.4 $— $102.2 
Attritional losses$230.8 $145.7 $376.5 $(1.8)$0.7 $— $375.4 
Catastrophe losses— 5.4 5.4 — — — 5.4 
Prior year loss reserve development(15.1)(17.1)(32.2)— 14.3 — (17.9)
Loss and loss adjustment expenses incurred, net$215.7 $134.0 $349.7 $(1.8)$15.0 $— $362.9 
Underwriting Ratios: (1)
Attritional loss ratio60.7 %56.4 %59.0 %58.8 %
Catastrophe loss ratio— %2.1 %0.8 %0.8 %
Prior year loss development ratio(4.0)%(6.6)%(5.0)%(2.8)%
Loss ratio56.7 %51.9 %54.8 %56.8 %
Acquisition cost ratio28.4 %24.7 %26.9 %23.1 %
Other underwriting expenses ratio6.9 %7.6 %7.2 %7.9 %
Combined ratio
92.0 %84.2 %88.9 %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.
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SiriusPoint Ltd.
Segment Reporting - Three months ended March 31, 2025
(expressed in millions of U.S. dollars, except ratios)
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross written premium$635.1 $354.8 $989.9 $— $(5.2)$— $984.7 
Net written premium483.5 268.5 752.0 — (9.0)— 743.0 
Net earned premium336.2 289.6 625.8 — 0.9 — 626.7 
Loss and loss adjustment expenses incurred, net209.9 195.3 405.2 (2.0)(1.4)— 401.8 
Acquisition costs, net87.3 67.1 154.4 (28.0)3.3 — 129.7 
Other underwriting expenses18.9 18.8 37.7 — 3.4 — 41.1 
Underwriting income (loss)20.1 8.4 28.5 30.0 (4.4)— 54.1 
Services revenues62.1 — 62.1 (30.2)— (31.9)— 
Services expenses43.1 — 43.1 — — (43.1)— 
Net services fee income19.0 — 19.0 (30.2)— 11.2 — 
Services noncontrolling income(0.1)— (0.1)— — 0.1 — 
Net services income18.9 — 18.9 (30.2)— 11.3 — 
Segment income (loss)39.0 8.4 47.4 (0.2)(4.4)11.3 54.1 
Net investment income71.2 — 71.2 
Net investment gains (losses)(0.3)— (0.3)
Other revenues(2.2)31.9 29.7 
Net corporate and other expenses(17.5)(43.1)(60.6)
Intangible asset amortization(2.9)— (2.9)
Interest expense(18.1)— (18.1)
Foreign exchange gains2.2 — 2.2 
Income before income tax expense$39.0 $8.4 47.4 (0.2)28.0 0.1 75.3 
Income tax expense— — (13.3)— (13.3)
Net income47.4 (0.2)14.7 0.1 62.0 
Net income attributable to noncontrolling interest— — (0.3)(0.1)(0.4)
Net income available to SiriusPoint$47.4 $(0.2)$14.4 $— $61.6 
Attritional losses$207.6 $164.0 $371.6 $(2.0)$(1.5)$— $368.1 
Catastrophe losses4.8 63.1 67.9 — — — 67.9 
Prior year loss reserve development(2.5)(31.8)(34.3)— 0.1 — (34.2)
Loss and loss adjustment expenses incurred, net$209.9 $195.3 $405.2 $(2.0)$(1.4)$— $401.8 
Underwriting Ratios: (1)
Attritional loss ratio61.7 %56.6 %59.3 %58.8 %
Catastrophe loss ratio1.4 %21.8 %10.9 %10.8 %
Prior year loss development ratio(0.7)%(11.0)%(5.5)%(5.5)%
Loss ratio62.4 %67.4 %64.7 %64.1 %
Acquisition cost ratio26.0 %23.2 %24.7 %20.7 %
Other underwriting expenses ratio5.6 %6.5 %6.0 %6.6 %
Combined ratio94.0 %97.1 %95.4 %91.4 %
(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.
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SiriusPoint Ltd.
Consolidated Results - by Quarter
(expressed in millions of U.S. dollars, except ratios)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Revenues
Gross written premium$1,002.9 $898.3 $874.4 $948.2 $984.7 
Net written premium695.2 655.1 670.3 704.4 743.0 
Net earned premium638.9 667.4 647.7 652.0 626.7 
Expenses
Loss and loss adjustment expenses incurred, net362.9 372.2 372.9 372.6 401.8 
Acquisition costs, net147.8 173.2 139.8 140.9 129.7 
Other underwriting expenses50.5 54.9 43.6 48.3 41.1 
Underwriting income$77.7 $67.1 $91.4 $90.2 $54.1 
Attritional losses$375.4 $387.2 $381.8 $381.8 $368.1 
Catastrophe losses, net of reinsurance and reinstatement premiums
5.4 7.0 — (0.5)67.9 
Favorable prior year loss reserve development
$(17.9)$(22.0)$(8.9)$(8.7)$(34.2)
Underwriting Ratios (1):
Loss ratio56.8 %55.8 %57.6 %57.1 %64.1 %
Acquisition cost ratio23.1 %26.0 %21.6 %21.6 %20.7 %
Other underwriting expenses ratio7.9 %8.2 %6.7 %7.4 %6.6 %
Combined ratio87.8 %90.0 %85.9 %86.1 %91.4 %
(1)Underwriting ratios are calculated by dividing the related expense by net earned premium.
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SiriusPoint Ltd.
Core Results - by Quarter (1)
(expressed in millions of U.S. dollars, except ratios)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Revenues
Gross written premium$1,003.8 $896.9 $871.6 $930.1 $989.9 
Net written premium696.8 660.9 664.9 699.8 752.0 
Net earned premium638.3 676.6 643.5 645.6 625.8 
Expenses
Loss and loss adjustment expenses incurred, net349.7 389.5 370.8 365.6 405.2 
Acquisition costs, net171.8 188.7 163.0 168.4 154.4 
Other underwriting expenses45.9 49.8 40.1 44.0 37.7 
Underwriting income70.9 48.6 69.6 67.6 28.5 
Services revenues54.0 45.7 58.5 58.1 62.1 
Services expenses46.1 41.4 48.5 49.6 43.1 
Net services fee income7.9 4.3 10.0 8.5 19.0 
Services noncontrolling (income) loss0.5 (0.1)0.1 0.2 (0.1)
Net services income8.4 4.2 10.1 8.7 18.9 
Segment income$79.3 $52.8 $79.7 $76.3 $47.4 
Attritional losses$376.5 $397.5 $379.9 $379.9 $371.6 
Catastrophe losses, net of reinsurance and reinstatement premiums
5.4 7.0 — (0.5)67.9 
Favorable prior year loss reserve development
$(32.2)$(15.0)$(9.1)$(13.8)$(34.3)
Underwriting Ratios (2):
Loss ratio54.8 %57.6 %57.6 %56.6 %64.7 %
Acquisition cost ratio26.9 %27.9 %25.3 %26.1 %24.7 %
Other underwriting expenses ratio7.2 %7.4 %6.2 %6.8 %6.0 %
Combined ratio88.9 %92.9 %89.1 %89.5 %95.4 %
Accident year loss ratio59.8 %59.8 %59.0 %58.8 %70.2 %
Accident year combined ratio93.9 %95.0 %90.6 %91.7 %100.9 %
Attritional loss ratio59.0 %58.8 %59.0 %58.8 %59.3 %
Combined ratio ex. catastrophe losses88.1 %91.9 %89.1 %89.6 %84.5 %
(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 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.
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SiriusPoint Ltd.
Insurance & Services Segment - by Quarter
(expressed in millions of U.S. dollars, except ratios)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Revenues
Gross written premium$684.6 $556.0 $562.0 $560.4 $635.1 
Net written premium461.1 377.1 396.8 392.8 483.5 
Net earned premium380.1 395.0 381.2 369.2 336.2 
Expenses
Loss and loss adjustment expenses incurred, net215.7 230.5 225.3 209.2 209.9 
Acquisition costs, net108.0 113.1 98.3 97.9 87.3 
Other underwriting expenses26.3 24.9 19.9 22.6 18.9 
Underwriting income30.1 26.5 37.7 39.5 20.1 
Services revenues54.0 45.7 58.5 58.1 62.1 
Services expenses46.1 41.4 48.5 49.6 43.1 
Net services fee income7.9 4.3 10.0 8.5 19.0 
Services noncontrolling (income) loss0.5 (0.1)0.1 0.2 (0.1)
Net services income8.4 4.2 10.1 8.7 18.9 
Segment income$38.5 $30.7 $47.8 $48.2 $39.0 
Attritional losses$230.8 $238.4 $234.8 $218.9 $207.6 
Catastrophe losses, net of reinsurance and reinstatement premiums
— 2.5 — — 4.8 
Favorable prior year loss reserve development
$(15.1)$(10.4)$(9.5)$(9.7)$(2.5)
Underwriting Ratios (1):
Loss ratio56.7 %58.4 %59.1 %56.7 %62.4 %
Acquisition cost ratio28.4 %28.6 %25.8 %26.5 %26.0 %
Other underwriting expenses ratio6.9 %6.3 %5.2 %6.1 %5.6 %
Combined ratio92.0 %93.3 %90.1 %89.3 %94.0 %
Accident year loss ratio60.7 %61.0 %61.6 %59.3 %63.2 %
Accident year combined ratio96.1 %95.9 %92.6 %91.9 %94.8 %
Attritional loss ratio60.7 %60.4 %61.6 %59.3 %61.7 %
Combined ratio ex. catastrophe losses92.0 %92.7 %90.1 %89.3 %92.6 %
(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.

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SiriusPoint Ltd.
Reinsurance Segment - by Quarter
(expressed in millions of U.S. dollars, except ratios)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Revenues
Gross written premium$319.2 $340.9 $309.6 $369.7 $354.8 
Net written premium235.7 283.8 268.1 307.0 268.5 
Net earned premium258.2 281.6 262.3 276.4 289.6 
Expenses
Loss and loss adjustment expenses incurred, net134.0 159.0 145.5 156.4 195.3 
Acquisition costs, net63.8 75.6 64.7 70.5 67.1 
Other underwriting expenses19.6 24.9 20.2 21.4 18.8 
Underwriting income$40.8 $22.1 $31.9 $28.1 $8.4 
Attritional losses$145.7 $159.1 $145.1 $161.0 $164.0 
Catastrophe losses, net of reinsurance and reinstatement premiums
5.4 4.5 — (0.5)63.1 
(Favorable) adverse prior year loss reserve development
$(17.1)$(4.6)$0.4 $(4.1)$(31.8)
Underwriting Ratios (1):
Loss ratio51.9 %56.5 %55.5 %56.6 %67.4 %
Acquisition cost ratio24.7 %26.8 %24.7 %25.5 %23.2 %
Other underwriting expense ratio7.6 %8.8 %7.7 %7.7 %6.5 %
Combined ratio84.2 %92.1 %87.9 %89.8 %97.1 %
Accident year loss ratio58.5 %58.1 %55.3 %58.1 %78.4 %
Accident year combined ratio90.8 %93.8 %87.7 %91.3 %108.1 %
Attritional loss ratio56.4 %56.5 %55.3 %58.3 %56.6 %
Combined ratio ex. catastrophe losses82.1 %90.5 %87.9 %90.0 %75.3 %
(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.
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SiriusPoint Ltd.
Investments - by Quarter
(expressed in millions of U.S. dollars)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Fair Value%Fair Value%Fair Value%Fair Value%Fair Value%
Asset-backed securities$866.2 16.2 %$921.1 16.5 %$914.4 16.4 %$984.4 18.9 %$1,007.8 19.8 %
Residential mortgage-backed securities943.0 17.8 %963.1 17.2 %974.4 17.5 %916.9 17.6 %931.0 18.2 %
Commercial mortgage-backed securities211.6 4.0 %231.9 4.1 %204.4 3.7 %177.6 3.4 %174.0 3.4 %
Corporate debt securities2,040.1 38.4 %2,198.2 39.2 %2,043.0 36.7 %1,701.3 32.6 %1,618.3 31.6 %
U.S. government and government agency811.8 15.3 %835.7 14.9 %990.1 17.7 %936.2 18.0 %881.4 17.2 %
Non-U.S. government and government agency20.2 0.4 %18.6 0.3 %19.3 0.2 %19.5 0.3 %22.7 0.4 %
Total debt securities, available for sale4,892.9 92.1 %5,168.6 92.2 %5,145.6 92.2 %4,735.9 90.8 %4,635.2 90.6 %
Asset-backed securities5.2 0.1 %5.9 0.1 %8.6 0.2 %9.7 0.2 %19.1 0.4 %
Residential mortgage-backed securities43.5 0.8 %45.0 0.8 %46.1 0.8 %47.0 0.9 %47.9 0.9 %
Commercial mortgage-backed securities29.9 0.6 %31.9 0.6 %36.1 0.6 %38.6 0.7 %42.7 0.8 %
Corporate debt securities3.6 0.1 %3.7 0.1 %3.7 0.1 %3.5 0.1 %3.8 0.1 %
U.S. government and government agency3.8 0.1 %3.8 0.1 %4.2 0.1 %4.1 0.1 %4.1 0.1 %
Total debt securities, trading86.0 1.7 %90.3 1.7 %98.7 1.8 %102.9 2.0 %117.6 2.3 %
Short-term investments32.5 0.6 %28.3 0.5 %24.6 0.3 %54.9 1.0 %48.2 0.9 %
Other long-term investments63.7 1.2 %88.1 1.6 %93.5 1.7 %92.2 1.8 %92.4 1.8 %
Cost and equity method investments72.9 1.4 %69.3 1.2 %66.8 1.2 %68.8 1.3 %65.1 1.3 %
Investments in funds valued at net asset value158.8 3.0 %157.7 2.8 %158.0 2.8 %159.1 3.1 %160.2 3.1 %
Total investments$5,306.8 100.0 %$5,602.3 100.0 %$5,587.2 100.0 %$5,213.8 100.0 %$5,118.7 100.0 %


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SiriusPoint Ltd.
Earnings per Share - by Quarter
(expressed in millions of U.S. dollars, except share and per share data)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding116,725,419 116,788,646 116,726,540 116,523,435 115,975,961 
Dilutive effect of options, restricted share awards, restricted share units4,969,637 5,050,320 2,091,363 2,146,036 2,579,205 
Diluted number of common shares outstanding121,695,056 121,838,966 118,817,903 118,669,471 118,555,166 
Basic earnings per common share:
Net income available to SiriusPoint common shareholders$99.6 $240.0 $86.8 $59.2 $57.6 
Net income allocated to SiriusPoint participating common shareholders(0.1)(0.1)(0.1)(0.1)(0.1)
Net income allocated to SiriusPoint common shareholders$99.5 $239.9 $86.7 $59.1 $57.5 
Basic earnings per share available to SiriusPoint common shareholders ⁽¹⁾$0.85 $2.05 $0.74 $0.51 $0.50 
Diluted earnings per common share:
Net income available to SiriusPoint common shareholders$99.6 $240.0 $86.8 $59.2 $57.6 
Net income allocated to SiriusPoint participating common shareholders(0.1)(0.1)(0.1)(0.1)(0.1)
Net income allocated to SiriusPoint common shareholders$99.5 $239.9 $86.7 $59.1 $57.5 
Diluted earnings per share available to SiriusPoint common shareholders ⁽¹⁾$0.82 $1.97 $0.73 $0.50 $0.49 
(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.
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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)

March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Net income available to SiriusPoint common shareholders$99.6 $240.0 $86.8 $59.2 $57.6 
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period2,269.8 2,009.9 1,905.7 1,825.2 1,737.4 
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period2,302.4 2,269.8 2,009.9 1,905.7 1,825.2 
Average common shareholders’ equity attributable to SiriusPoint common shareholders$2,286.1 $2,139.9 $1,957.8 $1,865.5 $1,781.3 
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (1)
17.4 %44.9 %17.7 %12.7 %12.9 %
(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 16 of 20                             
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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)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Common shareholders’ equity attributable to SiriusPoint common shareholders$2,302.4 $2,269.8 $2,009.9 $1,905.7 $1,825.2 
Accumulated other comprehensive income (loss), net of tax6.3 61.9 52.3 46.5 26.4 
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI2,296.1 2,207.9 1,957.6 1,859.2 1,798.8 
Intangible assets139.8 121.2 123.6 135.1 137.9 
Goodwill18.6 — — — — 
Tangible common shareholders' equity attributable to SiriusPoint common shareholders$2,144.0 $2,148.6 $1,886.3 $1,770.6 $1,687.3 
Common shares outstanding115,936,935 116,989,799 116,807,497 116,759,539 116,020,526 
Effect of dilutive stock options, restricted share units and warrants5,065,622 4,983,345 2,034,652 2,136,069 2,708,756 
Book value per diluted common share denominator121,002,557 121,973,144 118,842,149 118,895,608 118,729,282 
Book value per common share$19.86 $19.40 $17.21 $16.32 $15.73 
Book value per diluted common share$19.03 $18.61 $16.91 $16.03 $15.37 
Book value per diluted common share ex. AOCI (1)
$18.98 $18.10 $16.47 $15.64 $15.15 
Tangible book value per diluted common share (1)
$17.72 $17.62 $15.87 $14.89 $14.21 
(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 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.

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SiriusPoint Ltd.
Net Corporate and Other Expenses - by Quarter
(expressed in millions of U.S. dollars)
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Net corporate and other expenses$71.2 $63.0 $62.5 $70.9 $60.6 
MGA Service expenses$46.1 $41.4 $48.5 $49.6 $43.1 
Corporate and other expenses$19.8 $13.9 $12.8 $19.0 $16.9 
Salaries, benefits and incentives5.4 2.1 3.4 1.8 3.8 
Professional fees8.5 6.1 6.3 5.6 4.6 
Taxes and regulatory fees1.7 2.5 0.6 5.6 3.3 
Corporate insurance1.4 1.1 1.4 0.9 1.4 
Depreciation1.0 2.1 1.1 1.1 1.2 
Other corporate expenses1.8 — — 4.0 2.6 
Non-recurring corporate and other expenses$5.3 $7.7 $1.2 $2.3 $0.6 
Salaries, benefits and incentives4.0 6.3 0.3 0.3 — 
Professional fees1.3 1.4 0.9 2.0 0.6 



















Page 18 of 20                             
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SiriusPoint Ltd.
Operating and Core Operating Net Income and Earnings per Share
March 31, 2026 and 2025
(expressed in millions of U.S. dollars, except share and per share data)
20262025
Net income available to SiriusPoint common shareholders$99.6 $57.6 
Adjustments:
Gain on sale or deconsolidation of consolidated MGAs(25.2)— 
Losses on strategic and other investments1.8 0.5 
MGA & Strategic Investment Rationalization(23.4)0.5 
Expense related to loss portfolio transfers5.6 5.9 
Foreign exchange (gains) losses1.3 (2.2)
Other non-recurring items5.3 — 
Income tax expense on adjustments (1)
(2.7)(0.8)
Operating net income 85.7 61.0 
Corporate (run off) underwriting results18.8 4.4 
Income tax expense on adjustments (1)
(3.6)(0.8)
Core Operating net income$100.9 $64.6 
Weighted average number of diluted common shares used in the determination of earnings per share121,695,056 118,555,166 
Operating diluted earnings per share$0.70 $0.51 
Core Operating diluted earnings per share$0.83 $0.54 
(1)    For the three months ended March 31, 2026 and 2025, an effective tax rate of 19% is applied to the above adjustments to calculate the associated income tax expense, where applicable. Periods may have a different effective tax rate based on the jurisdiction of specific transactions.

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SiriusPoint Ltd.
Operating and Core Operating Return on Average Common Shareholders’ Equity
March 31, 2026 and 2025
(expressed in millions of U.S. dollars, except ratios)

20262025
Operating net income $85.7 $61.0 
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period2,269.8 1,737.4 
Less: Accumulated other comprehensive income (loss), net of tax - beginning of period61.9 (4.1)
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period2,207.9 1,741.5 
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period2,302.4 1,825.2 
Adjustments to net income to arrive at Operating net income(13.9)3.4 
Less: Accumulated other comprehensive income, net of tax - end of period6.3 26.4 
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period2,282.2 1,802.2 
Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI$2,245.1 $1,771.9 
Annualized Operating ROE15.3 %13.8 %

20262025
Core Operating net income $100.9 $64.6 
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period2,269.8 1,737.4 
Less: Accumulated other comprehensive income (loss), net of tax - beginning of period61.9 (4.1)
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - beginning of period2,207.9 1,741.5 
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period2,302.4 1,825.2 
Adjustments to net income to arrive at Core Operating net income1.3 7.0 
Less: Accumulated other comprehensive income, net of tax - end of period6.3 26.4 
Common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI - end of period2,297.4 1,805.8 
Average common shareholders’ equity attributable to SiriusPoint common shareholders ex. AOCI$2,252.7 $1,773.7 
Annualized Core Operating ROE17.9 %14.6 %
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