v3.26.1
Segment reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Operating Segment Results
The following is a summary of the Company’s operating segment results for the three and six months ended June 30, 2026 and 2025:
Three months ended June 30, 2026
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross written premium$644.6 $336.9 $981.5 $— $(3.3)$— $978.2 
Net written premium422.4 287.1 709.5 — 0.8 — 710.3 
Net earned premium381.7 257.1 638.8 — 1.5 — 640.3 
Loss and loss adjustment expenses incurred, net216.5 140.1 356.6 (1.8)3.4 — 358.2 
Acquisition costs, net104.2 75.7 179.9 (20.7)(2.4)— 156.8 
Other underwriting expenses25.6 21.7 47.3 — 4.5 — 51.8 
Underwriting income (loss)35.4 19.6 55.0 22.5 (4.0)— 73.5 
Services revenues59.4 — 59.4 (29.8)— (29.6)— 
Services expenses49.6 — 49.6 — — (49.6)— 
Net services fee income9.8 — 9.8 (29.8)— 20.0 — 
Services noncontrolling loss0.1 — 0.1 — — (0.1)— 
Net services income9.9 — 9.9 (29.8)— 19.9 — 
Segment income (loss)45.3 19.6 64.9 (7.3)(4.0)19.9 73.5 
Net investment income65.5 — 65.5 
Net investment gains (losses)7.9 — 7.9 
Other revenues0.8 29.6 30.4 
Net corporate and other expenses(24.1)(49.6)(73.7)
Intangible asset amortization(2.4)— (2.4)
Interest expense(18.7)— (18.7)
Foreign exchange gains1.8 — 1.8 
Income before income tax expense$45.3 $19.6 64.9 (7.3)26.8 (0.1)84.3 
Income tax expense— — (15.8)— (15.8)
Net income64.9 (7.3)11.0 (0.1)68.5 
Net loss attributable to noncontrolling interest— — — 0.1 0.1 
Net income available to SiriusPoint$64.9 $(7.3)$11.0 $— $68.6 
Attritional losses$231.3 $140.7 $372.0 $(1.8)$1.7 $— $371.9 
Catastrophe losses1.3 — 1.3 — — — 1.3 
Prior year loss reserve development(16.1)(0.6)(16.7)— 1.7 — (15.0)
Loss and loss adjustment expenses incurred, net$216.5 $140.1 $356.6 $(1.8)$3.4 $— $358.2 
Underwriting Ratios: (1)
Attritional loss ratio60.6 %54.7 %58.2 %58.0 %
Catastrophe loss ratio0.3 %— %0.2 %0.2 %
Prior year loss development ratio(4.2)%(0.2)%(2.6)%(2.3)%
Loss ratio56.7 %54.5 %55.8 %55.9 %
Acquisition cost ratio27.3 %29.4 %28.2 %24.5 %
Other underwriting expenses ratio6.7 %8.4 %7.4 %8.1 %
Combined ratio
90.7 %92.3 %91.4 %88.5 %
(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.
Three months ended June 30, 2025
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross written premium$560.4 $369.7 $930.1 $— $18.1 $— $948.2 
Net written premium392.8 307.0 699.8 — 4.6 — 704.4 
Net earned premium369.2 276.4 645.6 — 6.4 — 652.0 
Loss and loss adjustment expenses incurred, net209.2 156.4 365.6 (1.5)8.5 — 372.6 
Acquisition costs, net97.9 70.5 168.4 (28.2)0.7 — 140.9 
Other underwriting expenses22.6 21.4 44.0 — 4.3 — 48.3 
Underwriting income (loss)39.5 28.1 67.6 29.7 (7.1)— 90.2 
Services revenues58.1 — 58.1 (31.7)— (26.4)— 
Services expenses49.6 — 49.6 — — (49.6)— 
Net services fee income8.5 — 8.5 (31.7)— 23.2 — 
Services noncontrolling loss0.2 — 0.2 — — (0.2)— 
Net services income8.7 — 8.7 (31.7)— 23.0 — 
Segment income (loss)48.2 28.1 76.3 (2.0)(7.1)23.0 90.2 
Net investment income68.2 — 68.2 
Net investment gains (losses)0.7 — 0.7 
Other revenues0.9 26.4 27.3 
Net corporate and other expenses(21.3)(49.6)(70.9)
Intangible asset amortization(2.8)— (2.8)
Interest expense(21.1)— (21.1)
Foreign exchange losses(16.7)— (16.7)
Income before income tax expense$48.2 $28.1 76.3 (2.0)0.8 (0.2)74.9 
Income tax expense— — (11.6)— (11.6)
Net income (loss)76.3 (2.0)(10.8)(0.2)63.3 
Net income attributable to noncontrolling interests— — (0.3)0.2 (0.1)
Net income (loss) available to SiriusPoint$76.3 $(2.0)$(11.1)$— $63.2 
Attritional losses$218.9 $161.0 $379.9 $(1.5)$3.4 $— $381.8 
Catastrophe losses— (0.5)(0.5)— — — (0.5)
Prior year loss reserve development(9.7)(4.1)(13.8)— 5.1 — (8.7)
Loss and loss adjustment expenses incurred, net$209.2 $156.4 $365.6 $(1.5)$8.5 $— $372.6 
Underwriting Ratios: (1)
Attritional loss ratio59.3 %58.3 %58.8 %58.5 %
Catastrophe loss ratio— %(0.2)%(0.1)%(0.1)%
Prior year loss development ratio(2.6)%(1.5)%(2.1)%(1.3)%
Loss ratio56.7 %56.6 %56.6 %57.1 %
Acquisition cost ratio26.5 %25.5 %26.1 %21.6 %
Other underwriting expenses ratio6.1 %7.7 %6.8 %7.4 %
Combined ratio89.3 %89.8 %89.5 %86.1 %
(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.
Six months ended June 30, 2026
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross written premium$1,329.2 $656.1 $1,985.3 $— $(4.2)$— $1,981.1 
Net written premium883.5 522.8 1,406.3 — (0.8)— 1,405.5 
Net earned premium761.8 515.3 1,277.1 — 2.1 — 1,279.2 
Loss and loss adjustment expenses incurred, net 432.2 274.1 706.3 (3.6)18.4 — 721.1 
Acquisition costs, net212.2 139.5 351.7 (44.5)(2.6)— 304.6 
Other underwriting expenses 51.9 41.3 93.2 — 9.1 — 102.3 
Underwriting income (loss)65.5 60.4 125.9 48.1 (22.8)— 151.2 
Services revenues113.4 — 113.4 (52.9)— (60.5)— 
Services expenses95.7 — 95.7 — — (95.7)— 
Net services fee income17.7 — 17.7 (52.9)— 35.2 — 
Services noncontrolling loss0.6 — 0.6 — — (0.6)— 
Net services income18.3 — 18.3 (52.9)— 34.6 — 
Segment income (loss)83.8 60.4 144.2 (4.8)(22.8)34.6 151.2 
Net investment income131.9 — 131.9 
Net investment gains (losses)19.3 — 19.3 
Other revenues27.8 60.5 88.3 
Net corporate and other expenses(49.2)(95.7)(144.9)
Intangible asset amortization(5.0)— (5.0)
Interest expense(35.5)— (35.5)
Foreign exchange gains0.5 — 0.5 
Income before income tax expense$83.8 $60.4 144.2 (4.8)67.0 (0.6)205.8 
Income tax expense— — (35.0)— (35.0)
Net income144.2 (4.8)32.0 (0.6)170.8 
Net (income) loss attributable to noncontrolling interests— — (0.6)0.6 — 
Net income available to SiriusPoint$144.2 $(4.8)$31.4 $— $170.8 
Attritional losses$462.1 $286.4 $748.5 $(3.6)$2.4 $— $747.3 
Catastrophe losses1.3 5.4 6.7 — — — 6.7 
Prior year loss reserve development(31.2)(17.7)(48.9)— 16.0 — (32.9)
Loss and loss adjustment expenses incurred, net$432.2 $274.1 $706.3 $(3.6)$18.4 $— $721.1 
Underwriting Ratios: (1)
Attritional loss ratio60.6 %55.6 %58.6 %58.5 %
Catastrophe loss ratio0.2 %1.0 %0.5 %0.5 %
Prior year loss development ratio(4.1)%(3.4)%(3.8)%(2.6)%
Loss ratio56.7 %53.2 %55.3 %56.4 %
Acquisition cost ratio27.9 %27.1 %27.5 %23.8 %
Other underwriting expenses ratio6.8 %8.0 %7.3 %8.0 %
Combined ratio
91.4 %88.3 %90.1 %88.2 %
(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.
Six months ended June 30, 2025
Insurance & ServicesReinsuranceCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross written premium$1,195.5 $724.5 $1,920.0 $— $12.9 $— $1,932.9 
Net written premium876.3 575.5 1,451.8 — (4.4)— 1,447.4 
Net earned premium705.4 566.0 1,271.4 — 7.3 — 1,278.7 
Loss and loss adjustment expenses incurred, net419.1 351.7 770.8 (3.5)7.1 — 774.4 
Acquisition costs, net185.2 137.6 322.8 (56.2)4.0 — 270.6 
Other underwriting expenses41.5 40.2 81.7 — 7.7 — 89.4 
Underwriting income (loss)59.6 36.5 96.1 59.7 (11.5)— 144.3 
Services revenues120.2 — 120.2 (61.9)— (58.3)— 
Services expenses92.7 — 92.7 — — (92.7)— 
Net services fee income27.5 — 27.5 (61.9)— 34.4 — 
Services noncontrolling loss0.1 — 0.1 — — (0.1)— 
Net services income27.6 — 27.6 (61.9)— 34.3 — 
Segment income (loss)87.2 36.5 123.7 (2.2)(11.5)34.3 144.3 
Net investment income139.4 — 139.4 
Net investment gains (losses)0.4 — 0.4 
Other revenues(1.3)58.3 57.0 
Net corporate and other expenses(38.8)(92.7)(131.5)
Intangible asset amortization(5.7)— (5.7)
Interest expense(39.2)— (39.2)
Foreign exchange losses(14.5)— (14.5)
Income before income tax expense$87.2 $36.5 123.7 (2.2)28.8 (0.1)150.2 
Income tax expense— — (24.9)— (24.9)
Net income123.7 (2.2)3.9 (0.1)125.3 
Net income attributable to noncontrolling interests— — (0.6)0.1 (0.5)
Net income available to SiriusPoint$123.7 $(2.2)$3.3 $— $124.8 
Attritional losses$426.5 $325.0 $751.5 $(3.5)$1.9 $— $749.9 
Catastrophe losses4.8 62.6 67.4 — — — 67.4 
Prior year loss reserve development(12.2)(35.9)(48.1)— 5.2 — (42.9)
Loss and loss adjustment expenses incurred, net$419.1 $351.7 $770.8 $(3.5)$7.1 $— $774.4 
Underwriting Ratios: (1)
Attritional loss ratio60.4 %57.3 %59.1 %58.7 %
Catastrophe loss ratio0.7 %11.1 %5.3 %5.3 %
Prior year loss development ratio(1.7)%(6.3)%(3.8)%(3.4)%
Loss ratio59.4 %62.1 %60.6 %60.6 %
Acquisition cost ratio26.3 %24.3 %25.4 %21.2 %
Other underwriting expenses ratio5.9 %7.1 %6.4 %7.0 %
Combined ratio91.6 %93.5 %92.4 %88.8 %
(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.