SiriusPoint Q3 2023 Earnings Report
Key Takeaways
SiriusPoint reported positive underwriting results in Q3 for the first time in the Group’s history. The combined ratio for the Group’s Core operations was 87.6% with Catastrophe losses materially down. The company is on track to deliver double-digit return on average common equity in 2023 and is increasing 2023 net investment income guidance to $250-260 million.
Reported positive underwriting results in the third quarter for the first time in the Group’s history.
The combined ratio for the Group’s Core operations was 87.6% with Catastrophe losses materially down at $14 million.
Net income available to SiriusPoint common shareholders of $58 million, or $0.32 per diluted common share.
Core income of $50 million, which includes underwriting income of $43 million, Core combined ratio of 92.5%
SiriusPoint
SiriusPoint
Forward Guidance
SiriusPoint is on track to deliver double-digit return on average common equity in 2023, reiterating guidance on 2024 cost savings of >$50 million and increasing 2023 net investment income guidance to $250-260 million