SiriusPoint Q2 2024 Earnings Report
Key Takeaways
SiriusPoint reported a strong second quarter with net income of $109.9 million. The company achieved its seventh consecutive quarter of positive underwriting income, driven by growth in gross premiums and a focus on target areas such as North America programs, International, and Specialty. The balance sheet was further strengthened, enabling the company to settle Series A Preference shares, repurchase common stock, and increase the share buyback authorization.
Reported seventh consecutive quarter of underwriting profits and strong net income at $109.9m.
Half year core combined ratio of 92.5%, or 92.8% ex. LPT, representing a 1.0 point improvement versus prior year.
Strong growth in the quarter of 22% on gross written premiums for continuing lines business.
Headline annualized ROE of 16.7% at half year, with underlying ROE adjusted for MGA actions of 13.0%, tracking within 12-15% medium-term guidance range.
SiriusPoint
SiriusPoint
Forward Guidance
SiriusPoint has increased its full year 2024 net investment income guidance to $275 million to $285 million, up from $250 million to $265 million.