AM Best Upgrades SiriusPoint’s Operating Subsidiaries to ‘A’ (Excellent)
Rhea-AI Summary
SiriusPoint (NYSE:SPNT) had its operating subsidiaries upgraded by AM Best to A (Excellent) from A- with a stable outlook on April 16, 2026. AM Best also raised related Long-Term ICRs and cited very strong balance sheet strength and the company’s disciplined underwriting and capital management.
AM Best noted SiriusPoint’s strongest-level risk-adjusted capitalisation at year-end 2025 (BCAR), reduced catastrophe exposure, de-risked investment portfolio, and a shift toward less volatile lines.
Positive
- AM Best upgrade to A from A- for operating subsidiaries
- Long-term ICRs raised (a from a-; other ICRs upgraded)
- BCAR at strongest level at year-end 2025
- Reduced catastrophe exposure and de-risked investment portfolio
- Shift to less volatile lines (accident & health, specialty)
Negative
- Operating performance described as adequate, not strong
- Business profile assessed as neutral by AM Best
Market Reality Check
Peers on Argus
SPNT was modestly higher pre-news (0.98%), while key reinsurer peers such as HG, EG, RNR, GLRE and RGA also showed gains between 0.22% and 1.47%. Momentum scanner data flags only one separate peer (BWIN) and classifies this as stock-specific rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 30 | Board changes | Neutral | +1.8% | Board refresh with new director and planned departures after AGM. |
| Mar 16 | Business reorganization | Positive | +1.2% | Creation of focused global P&C, reinsurance, A&H and London specialty units. |
| Feb 25 | Fitch rating upgrade | Positive | +0.1% | Fitch upgraded IFS and debt ratings citing earnings and capitalization. |
| Feb 18 | Q4 2025 earnings | Positive | +7.0% | Strong profit, higher ROE, premium growth and capital return plans. |
| Feb 12 | Acquisition | Positive | -0.4% | IMG agreed to acquire World Nomads travel insurance platform. |
Recent positive strategic, ratings, and earnings announcements have generally coincided with flat-to-positive next-day moves, suggesting the market has been rewarding balance sheet strengthening and profitability initiatives. Only the travel-insurance acquisition saw a small negative reaction.
Over the last few months, SiriusPoint has reported several balance-sheet and strategic milestones. Strong Q4 2025 and full‑year earnings, plus a share repurchase intent, were followed by a ratings upgrade from Fitch on Feb 25, 2026. The company also announced a travel insurance acquisition and internal reorganization into focused business divisions, alongside board refreshment. Today’s AM Best upgrade extends this theme of improving capital strength and underwriting focus, reinforcing the same balance-sheet and risk-management narrative evident in prior news.
Market Pulse Summary
This announcement reinforces an ongoing narrative of strengthening fundamentals, with AM Best upgrading SiriusPoint’s key ratings and citing very strong balance sheet strength and disciplined underwriting. It follows Fitch’s upgrade in February 2026 and strong 2025 financial results, suggesting continued validation of capital and risk management. Investors may watch for sustained profitability in the rebalanced business mix and maintenance of strongest‑level capital adequacy under AM Best’s BCAR framework.
Key Terms
financial strength rating financial
issuer credit ratings financial
enterprise risk management technical
AI-generated analysis. Not financial advice.
HAMILTON, Bermuda, April 16, 2026 (GLOBE NEWSWIRE) -- AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent), the Long-Term Issuer Credit Ratings (“ICR”) to “a” (Excellent) from “a-” (Excellent), and the Long-Term ICR to “bbb” (Good) from “bbb-” (Good) of SiriusPoint and its operating subsidiaries (“SiriusPoint” or the “Company”). The outlook of these ratings is stable.
These 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 upgrade comes two months after Fitch Ratings upgraded its Insurer Financial Strength rating of SiriusPoint’s operating subsidiaries to 'A' (Strong) from 'A-'.
AM Best cited SiriusPoint’s disciplined underwriting and prudent capital management, underscoring the Company’s ability to absorb volatility across underwriting cycles. The affirmation reflects the continued execution of SiriusPoint’s focused underwriting strategy and its deliberate approach to capital deployment.
“The ratings upgrade reflects SiriusPoint’s improved balance sheet strength fundamentals following actions taken by management including de-risking of the company’s investment portfolio, reduction in its catastrophe exposure, and streamlining of its ownership structure,” said AM Best.
“AM Best expects that SiriusPoint will maintain its risk-adjusted capitalisation comfortably at the strongest level, as measured by AM Best’s Capital Adequacy Ratio (BCAR), supported by prudent capital management, effective underwriting exposure management and positive operating results.”
SiriusPoint’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2025, as measured by BCAR.
AM Best expects SiriusPoint’s prospective underwriting results to remain profitable with reduced volatility as its management continues to rebalance the business mix away from catastrophe-exposed property business and toward less volatile accident and health and specialty lines of business.
Scott Egan, Chief Executive Officer at SiriusPoint, said: “We are delighted with the upgrade from AM Best, which comes hard on the heels of Fitch’s upgrade earlier this year. These ratings actions reflect the progress the Company has made and further reinforce the overall strength of the business. We remain focused on building on this momentum.”
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. With over
Forward-Looking Statements
We make statements in this press release, and any related oral statements, that are forward-looking statements within the meaning of the U.S. federal securities laws, which we intend to be covered by the safe harbor provisions for such forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those made in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors described in SiriusPoint’s most recent Annual Report on Form 10-K and any other subsequent periodic reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date made and SiriusPoint undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise
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
