SiriusPoint Ltd. - SPNT STOCK NEWS

SiriusPoint (NYSE: SPNT), an international specialty insurer and reinsurer, has declared a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B. The dividend has a $25.00 liquidation preference per share and will be paid on or before November 30, 2024 to Series B shareholders of record as of November 15, 2024. The dividend declaration was approved by the Company's Audit Committee of the Board of Directors.

SiriusPoint reported its Q3 2024 results with net income of $5 million and underlying net income of $89 million, up 69% year-over-year. The company achieved a combined ratio of 88.5% for Core business, representing a 4-point improvement versus prior year. Gross premiums written grew 10% for continuing lines business, contributing to 7% growth year-to-date. Book value per diluted common share reached $14.73, increasing 3% in the quarter and 10% since year-end 2023. The company completed a strategic transaction with CMIG, including the purchase and retirement of $125m of common shares. Q3 BSCR estimate stands at 265%, demonstrating balance sheet strength.

SiriusPoint (NYSE: SPNT) has announced the release date for its third quarter 2024 financial results. The company plans to release the results after market close on Thursday, October 31, 2024. Following this, SiriusPoint will hold a webcast and conference call to discuss the financial results on Friday, November 1, 2024, at 8:30 am (Eastern Time).

Investors can access the webcast through the Investor Relations section of SiriusPoint's website at www.siriuspt.com. For those preferring a conference call, the dial-in numbers are 1-877-451-6152 (domestic) and 1-201-389-0879 (international). A replay will be available until November 15, 2024, accessible by dialing 1-844-512-2921 (domestic) or 1-412-317-6671 (international) with the passcode 13748683.

SiriusPoint (NYSE: SPNT) reported strong Q2 2024 results with net income of $109.9M.

Key highlights include:

• Seventh consecutive quarter of underwriting profits
• Core combined ratio of 92.5%
• Gross written premiums up 22% in Q2
• Annualized ROE at 16.7%
• Balance sheet strengthened with a BSCR estimate of 284%
• Share repurchase of $125M from CMIG and authorization increased to $306M

Scott Egan, CEO, emphasized the company's focus on stable earnings and shareholder value. The core underwriting income was $81M, up 11% YoY, and net investment income guidance increased to $275M-$285M for the full year. Net service fee income also grew by 6.5%.

SiriusPoint continues to rationalize its MGA equity stakes, down to 22 from 36 at the start of 2023, and has added 11 new distribution partnerships.

Q2 2024 saw a net investment income of $78.2M, core income of $46M, and a return on average common equity of 17.9%.

SiriusPoint (NYSE: SPNT), an international specialty insurer and reinsurer, has announced a quarterly cash dividend on its 8.00% Resettable Fixed Rate Preference Shares, Series B. The dividend is set at $0.50 per share, with a liquidation preference of $25.00 per share. The dividend will be payable on August 30, 2024 to Series B shareholders of record as of August 15, 2024. This decision was approved by the Audit Committee of SiriusPoint's Board of Directors, demonstrating the company's commitment to providing returns to its preference shareholders.

SiriusPoint (NYSE: SPNT) has announced the release date for its second quarter 2024 financial results. The company will publish its earnings after the market close on Thursday, August 1, 2024. Following this, SiriusPoint will host a webcast and conference call to discuss the financial results on Friday, August 2, 2024, at 8:30 am Eastern Time.

Investors can access the live webcast through the Investor Relations section of SiriusPoint's website. For those unable to attend the live event, an online replay will be available immediately after the call. The conference call can be accessed by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). A replay will be available until August 16, 2024, by dialing 1-844-512-2921 (domestic) or 1-412-317-6671 (international) with the passcode 13746890.

SiriusPoint (NYSE: SPNT), a global specialty insurer and reinsurer, announced the appointment of Susan Cross to its Board of Directors effective May 24, 2024. This appointment brings the total number of board members to 10. Susan Cross has over 40 years of experience in the (re)insurance industry, including roles at Enstar Group and XL Group (now AXA XL). She also serves as a Non-Executive Director at Unum Group. Bronek Masojada, Chair of the Board, praised her extensive experience and leadership skills, highlighting her ability to drive growth and support SiriusPoint's strategic plans.

SiriusPoint, a global specialty insurer and reinsurer (NYSE: SPNT), has appointed Jim McKinney as Chief Financial Officer, effective June 3, 2024. McKinney brings over 20 years of experience, having previously served as CFO at Kemper and Banc of California. He has a track record of creating high-performing finance functions and leading transformations for growth. McKinney will report to CEO Scott Egan and join SiriusPoint's Executive Leadership Team. The current CFO, Steve Yendall, will be succeeded by McKinney and leaves with the company's best wishes.

SiriusPoint reported a strong start to 2024 with a core combined ratio of 91.4%, 5% improvement over the prior year, and net income of $90.8 million for the first quarter. Debt restructuring completed, improving financial leverage by approximately 2.5 points, with an improved Q4'23 BSCR estimate of 255%. The company aims for an ROE guidance of 12-15% in the medium term.

Key financial metrics show a positive trend, with core underwriting income of $44.3 million, core net services fee income of $19.8 million, and net investment income of $78.8 million. Book value per diluted common share increased by $0.29 to $13.64 per share, and the debt to capital ratio decreased to 22.8%. The company continues to focus on strategic priorities and aims to maintain positive performance throughout the year.