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Jun 30, 2020
SiriusPoint Q2 2020 Earnings Report
Reported a net income of $124.0 million, or $1.33 per diluted common share, for the second quarter of 2020.
Key Takeaways
Third Point Re reported a strong second quarter with a net income of $124.0 million, or $1.33 per diluted common share, and a return on equity of 10.1%. The combined ratio was 98.3%, with 7.0 percentage points attributable to COVID-19 impacts. The investment portfolio rebounded with a 5.8% return.
Net income of $124.0 million, or $1.33 per diluted common share, for the second quarter of 2020
Return on beginning shareholders’ equity of 10.1% for the second quarter of 2020
Combined ratio of 98.3% for the second quarter of 2020
Investment portfolio had a significant bounce back in the second quarter with a 5.8% return
Forward Guidance
Third Point Re expects to benefit from its shift in business mix into higher margin property and specialty lines, improving market conditions, and its differentiated investment strategy.
Positive Outlook
- Shift in business mix into higher margin property and specialty lines
- Improving market conditions
- Differentiated investment strategy
- Strong capital position
- Well positioned to continue to deliver increasing shareholder value from both underwriting and investments
Challenges Ahead
- Ongoing impacts of COVID-19
- Uncertainties surrounding the ultimate amount of claims and scope of damage resulting from the pandemic
- Global economic volatility
- Reduced liquidity of capital markets
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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