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Mar 31, 2024
SiriusPoint Q1 2024 Earnings Report
Reported sixth consecutive quarter of underwriting profits and strong net income.
Key Takeaways
SiriusPoint reported a strong start to 2024 with a core combined ratio of 91.4% and net income of $90.8 million. The company also completed a debt restructuring that will further reduce financial leverage.
Core combined ratio of 91.4%, a 5% improvement versus prior year excluding the loss portfolio transfer.
Net income available to SiriusPoint common shareholders of $90.8 million, or $0.49 per diluted common share.
Net investment income was strong at $78.8 million.
Book value per diluted common share increased $0.29 per share, or 2.2%, from December 31, 2023 to $13.64 per share.
SiriusPoint
SiriusPoint
Forward Guidance
The first quarter performance is on track to meet the improved ROE guidance of 12%-15%.