On Monday, SiriusPoint Ltd. (NYSE:SPNT) reported second-quarter earnings that surpassed analyst expectations, driven by improved underwriting results and robust premium growth.
Following the announcement, the insurance and reinsurance provider’s shares rose 0.46% in after-hours trading.
The company posted adjusted earnings per share of $0.66 for the quarter, beating the analyst consensus of $0.59. Revenue reached $748.2 million, exceeding the forecast of $719.27 million. SiriusPoint’s Core combined ratio improved to 89.5%, a 3.8 percentage point improvement from the prior year.
Core underwriting income increased 83% year-over-year to $67.6 million, while gross premiums written in the Core business grew 10%, marking the fifth consecutive quarter of double-digit growth. The company reported a second-quarter return on equity of 12.7%, with an underlying return on equity of 17.0%, surpassing its 12-15% target range.
“Our second quarter results reflect the strength of our disciplined underwriting strategy,” said Scott Egan, Chief Executive Officer. “With each quarter, we demonstrate our ability to deliver consistent and stable earnings. Underlying return on equity for the quarter of 17.0%, and 15.4% for the half year, both exceed our 12-15% ‘across the cycle’ target.”
Book value per diluted common share (excluding accumulated other comprehensive income) rose 3.2% during the quarter to $15.64. SiriusPoint’s balance sheet remains strong, with a Q2 2025 BSCR estimate of 223%.
Catastrophe losses were limited in Q2 compared to $5.6 million a year earlier. The company also benefited from $13.8 million in favorable prior-year loss reserve development, primarily in the Property and Accident & Health segments.
For the first half of 2025, SiriusPoint reported net income of $116.8 million, or $0.98 per diluted share, with a Core combined ratio of 92.4%.
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