SiriusPoint Welcomes AM Best Outlook Revision to ‘Positive’ from ‘Stable’
AM Best has revised the outlook for SiriusPoint (NYSE: SPNT) from Stable to Positive, while affirming its Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of 'a-'. The revision reflects the company's improved balance sheet strength following strategic management actions.
Key improvements highlighted include:
- Derisking of investment portfolio
- Reduction in catastrophe exposure
- Buy-back of shares and warrants from CM Bermuda
AM Best assesses SiriusPoint's consolidated balance sheet strength as 'very strong' with adequate operating performance, neutral business profile, and appropriate enterprise risk management. The agency expects the group to maintain its risk-adjusted capitalization at the strongest level, supported by prudent capital management and effective underwriting.
This positive outlook revision follows Fitch Ratings' recent affirmation of SiriusPoint's ratings, including its BBB Long-Term Issuer Default Rating and A- Insurer Financial Strength rating for its subsidiaries.
AM Best ha rivisto l'outlook per SiriusPoint (NYSE: SPNT) da Stabile a Positivo, confermando al contempo il Rating di Solidità Finanziaria A- (Eccellente) e i Rating di Credito a Lungo Termine dell'emittente a 'a-'. La revisione riflette il miglioramento della solidità patrimoniale dell'azienda a seguito di azioni strategiche di gestione.
Tra i principali miglioramenti evidenziati vi sono:
- Riduzione del rischio nel portafoglio investimenti
- Diminuzione dell'esposizione ai catastrofi
- Riacquisto di azioni e warrant da CM Bermuda
AM Best valuta la solidità patrimoniale consolidata di SiriusPoint come 'molto forte', con una performance operativa adeguata, un profilo di business neutro e una gestione del rischio d'impresa appropriata. L'agenzia prevede che il gruppo manterrà una capitalizzazione corretta per il rischio al livello più elevato, supportata da una gestione prudente del capitale e da un'efficace sottoscrizione.
Questa revisione positiva dell'outlook segue la recente conferma dei rating di SiriusPoint da parte di Fitch Ratings, inclusi il Rating BBB per il Rischio di Inadempienza a Lungo Termine e il Rating A- di Solidità Finanziaria per le sue controllate.
AM Best ha revisado la perspectiva para SiriusPoint (NYSE: SPNT) de Estable a Positiva, al tiempo que mantiene su Calificación de Fortaleza Financiera en A- (Excelente) y las Calificaciones de Crédito a Largo Plazo del emisor en 'a-'. La revisión refleja la mejora en la solidez del balance de la empresa tras acciones estratégicas de gestión.
Las mejoras clave destacadas incluyen:
- Reducción del riesgo en la cartera de inversiones
- Disminución de la exposición a catástrofes
- Recompra de acciones y warrants de CM Bermuda
AM Best evalúa la fortaleza del balance consolidado de SiriusPoint como 'muy fuerte', con un desempeño operativo adecuado, un perfil de negocio neutral y una gestión de riesgos empresarial apropiada. La agencia espera que el grupo mantenga su capitalización ajustada por riesgo en el nivel más alto, respaldada por una gestión prudente del capital y una suscripción efectiva.
Esta revisión positiva de la perspectiva sigue a la reciente confirmación de las calificaciones de SiriusPoint por parte de Fitch Ratings, incluyendo su Calificación BBB de Incumplimiento a Largo Plazo y la Calificación A- de Fortaleza Financiera para sus subsidiarias.
AM Best는 SiriusPoint (NYSE: SPNT)의 전망을 안정적에서 긍정적으로 상향 조정하면서, 재무 건전성 등급 A- (우수)와 장기 발행자 신용 등급 'a-'를 유지했습니다. 이번 조정은 전략적 경영 조치에 따른 회사의 재무 건전성 개선을 반영합니다.
주요 개선 사항은 다음과 같습니다:
- 투자 포트폴리오 위험 감소
- 재해 노출 감소
- CM Bermuda로부터 주식 및 워런트 자사주 매입
AM Best는 SiriusPoint의 연결 재무 건전성을 '매우 강함'으로 평가하며, 적절한 영업 실적, 중립적인 사업 프로필, 적합한 기업 위험 관리가 이루어지고 있다고 봅니다. 기관은 그룹이 신중한 자본 관리와 효과적인 인수 심사를 바탕으로 위험 조정 자본을 최상위 수준으로 유지할 것으로 기대합니다.
이번 긍정적 전망 조정은 Fitch Ratings가 최근 SiriusPoint의 등급을 확인한 데 따른 것으로, 여기에는 자회사에 대한 BBB 장기 발행자 부도 등급과 A- 보험사 재무 건전성 등급이 포함됩니다.
AM Best a révisé la perspective pour SiriusPoint (NYSE : SPNT) de Stable à Positive, tout en confirmant sa note de solidité financière A- (Excellente) et ses notes de crédit à long terme de l’émetteur à 'a-'. Cette révision reflète l'amélioration de la solidité du bilan de l'entreprise suite à des actions stratégiques de gestion.
Les principales améliorations mises en avant comprennent :
- Réduction des risques dans le portefeuille d'investissement
- Diminution de l'exposition aux catastrophes
- Rachat d’actions et de bons de souscription auprès de CM Bermuda
AM Best évalue la solidité consolidée du bilan de SiriusPoint comme « très forte », avec une performance opérationnelle adéquate, un profil commercial neutre et une gestion des risques d'entreprise appropriée. L’agence s’attend à ce que le groupe maintienne sa capitalisation ajustée au risque au niveau le plus élevé, soutenue par une gestion prudente du capital et une souscription efficace.
Cette révision positive de la perspective fait suite à la récente confirmation des notes de SiriusPoint par Fitch Ratings, y compris sa note BBB de défaut à long terme de l’émetteur et sa note A- de solidité financière pour ses filiales.
AM Best hat den Ausblick für SiriusPoint (NYSE: SPNT) von Stabil auf Positiv geändert und dabei die Finanzstärke-Bewertung A- (Ausgezeichnet) sowie die langfristigen Emittenten-Kreditratings von 'a-' bestätigt. Die Änderung spiegelt die verbesserte Bilanzstärke des Unternehmens nach strategischen Managementmaßnahmen wider.
Wesentliche Verbesserungen umfassen:
- Risikominimierung im Anlageportfolio
- Reduzierung der Katastrophenexponierung
- Rückkauf von Aktien und Warrants von CM Bermuda
AM Best bewertet die konsolidierte Bilanzstärke von SiriusPoint als 'sehr stark' mit angemessener operativer Leistung, neutralem Geschäftsprofil und angemessenem Enterprise Risk Management. Die Agentur erwartet, dass die Gruppe ihre risikoadjustierte Kapitalisierung auf dem höchsten Niveau hält, unterstützt durch umsichtiges Kapitalmanagement und effektives Underwriting.
Diese positive Ausblicksänderung folgt auf die jüngste Bestätigung der Ratings von SiriusPoint durch Fitch Ratings, einschließlich des BBB Langfristigen Emittentenausfallratings und der A- Finanzstärkebewertung für ihre Tochtergesellschaften.
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HAMILTON, Bermuda, April 25, 2025 (GLOBE NEWSWIRE) -- AM Best has revised the outlook of the rated operating subsidiaries of SiriusPoint Ltd (“SiriusPoint” or “the Company”) (Bermuda) [NYSE: SPNT] to Positive from Stable, citing the Company’s “very strong balance sheet”.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of SiriusPoint’s rated operating subsidiaries. Additionally, the rating agency has affirmed the Long-Term ICR of “bbb-” (Good) of SiriusPoint.
AM Best said the revision of the outlook to Positive from Stable reflects SiriusPoint’s improved balance sheet strength following actions taken by management including the derisking of the investment portfolio, reduction in catastrophe exposure, and the recent buy-back of shares and warrants previously held by CM Bermuda Ltd.
“This outlook revision is a reflection of our journey towards stability, underwriting profitability, and becoming a best-in-class insurer and reinsurer,” said Scott Egan, Chief Executive Officer of SiriusPoint. “This is further recognition of SiriusPoint’s achievements and the work we have done to reshape our future. I am proud of the team at SiriusPoint who have worked with dedication and commitment to improve our company profile, balance sheet strength, and underwriting performance.”
In a press release issued today, AM Best said: “The ratings reflect SiriusPoint’s consolidated balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.”
The rating agency added: “AM Best expects that the group will maintain its risk-adjusted capitalization comfortably at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by prudent capital management, effective underwriting exposure management and positive operating results.”
The financial strength rating of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been affirmed with the outlooks revised to positive from stable for the following subsidiaries of SiriusPoint:
- SiriusPoint America Insurance Company
- SiriusPoint Bermuda Insurance Company Ltd.
- SiriusPoint International Insurance Corporation (publ)
- SiriusPoint Specialty Insurance Corporation
AM Best’s revised outlook for SiriusPoint comes just one month after Fitch Ratings announced it had affirmed the ratings of SiriusPoint, including its Long-Term Issuer Default Rating at ‘BBB’, its senior debt rating at ‘BBB-‘ and its Insurer Financial Strength (IFS) rating at ‘A-‘ (Strong) of SiriusPoint’s subsidiaries. It has also revised the Company’s Outlook to Positive from Stable.
Click here for full details in AM Best’s press release.
Contacts
Investor Relations
Liam Blackledge, SiriusPoint
Liam.Blackledge@siriuspt.com
+44 203 772 3082
Media
Sarah Hills, Rein4ce
sarah.hills@rein4ce.co.uk
+44 7718 882011
About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators within our Insurance & Services segment. With over
FORWARD-LOOKING STATEMENTS
We make statements in this press release that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in the results of operations; pandemic or other catastrophic event; uncertainty of success in investing in early-stage companies, such as the risk of loss of an initial investment, highly variable returns on investments, delay in receiving return on investment and difficulty in liquidating the investment; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations; trends in insured and paid losses; regulatory and legal uncertainties; and other risk factors described in SiriusPoint’s Annual Report on Form 10-K for the period ended December 31, 2024.
Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events, or other circumstances after the date of this press release.
FAQ
What caused AM Best to revise SiriusPoint's (SPNT) outlook to positive in April 2025?
What is SiriusPoint's (SPNT) current AM Best Financial Strength Rating?
How does AM Best assess SiriusPoint's (SPNT) balance sheet strength in 2025?
What recent strategic actions has SiriusPoint (SPNT) taken to improve its financial position?
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