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Sep 30, 2022
SiriusPoint Q3 2022 Earnings Report
SiriusPoint experienced year-over-year improvement in underwriting results and simplified operating platform.
Key Takeaways
SiriusPoint reported a net loss of $98 million for Q3 2022, with a combined ratio of 107.7%. The company is restructuring its underwriting platform to improve profitability and is making changes to its international branch network.
Gross premiums written were $844 million, with 62% from insurance and 38% from reinsurance, reflecting a strategic shift.
The combined ratio was 107.7%, resulting in an underwriting loss of $47 million.
Catastrophe losses amounted to $115 million, impacting the combined ratio by 18.7 percentage points.
The company is restructuring its underwriting platform including closing offices in Hamburg, Miami and Singapore.
SiriusPoint
SiriusPoint
Forward Guidance
SiriusPoint is focused on becoming a more efficient and profitable underwriting business. The company anticipates further progress as they continue to develop and execute their plans.