Siriuspoint Ltd Stock Price, News & Analysis

SiriusPoint Ltd. (NYSE:SPNT) reported a net loss of $140 million for Q4 2021, with diluted earnings at $0.88 per share. The company's tangible book value dropped by 5.7% to $13.27. For the full year, net income was $45 million but the core loss reached $163 million. Notably, catastrophe losses stood at $326 million for the year. The company's strategy includes reshaping its portfolio and reallocating capital to reduce risk and enhance long-term value. For Q4, the Core combined ratio was 93.6%, however, it faced significant net investment losses, totaling $151 million.

SiriusPoint Ltd. (NYSE: SPNT) has declared a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B. The payment is scheduled for February 28, 2022, for shareholders on record as of February 25, 2022. This reflects the company's ongoing commitment to returning value to its investors. With a total capital exceeding $3 billion and solid financial ratings, SiriusPoint is well-positioned in the global insurance market, serving clients in nearly 150 countries.

SiriusPoint Ltd. (NYSE: SPNT) announced the release of its fourth quarter 2021 financial results scheduled for after market close on February 24, 2022. The company will conduct a conference call on February 25, 2022, at 8:30 am Eastern Time to discuss these results. Investors can access the call via phone or through a webcast on the company's website. SiriusPoint, headquartered in Bermuda, operates globally, with a financial strength rating of A- from AM Best, S&P, and Fitch.

VYRD has launched as a joint venture between SiriusPoint and bolt, targeting Florida homeowners' insurance needs due to rising costs and diminished capacity in the market. VYRD is the first property and casualty insurer licensed in Florida in three years, leveraging advanced technology and a strong leadership team with over 75 years of experience. The company aims to provide comprehensive coverage and competitive rates, filling the protection gap for homeowners facing challenges like litigation costs and weather-related damages. VYRD's products will initially be distributed through an independent agency network.

SiriusPoint Ltd. (NYSE: SPNT) has appointed Andreas Kull as Chief Risk Officer, effective March 1, 2022. Mr. Kull will oversee the company's risk management strategy, emphasizing underwriting excellence amidst evolving risks. He joins SiriusPoint with extensive experience, including previous roles at Bernina Re and Tokio Millennium Re. CEO Sid Sankaran praised Kull's expertise, noting that his leadership will strengthen SiriusPoint's risk strategy and support long-term growth. SiriusPoint currently operates with over $3 billion in capital and has a financial strength rating of A-.

The partnership between Limit Financial (LimitFi) and SiriusPoint Ltd. (SPNT) aims to enhance credit insurance solutions. Announced on November 9, 2021, this multi-year underwriting capacity partnership includes strategic investment to support existing and future credit insurance offerings. LimitFi will provide an end-to-end solution encompassing origination, analysis, and policy management. SiriusPoint gains immediate access to credit insurance opportunities, reflecting a strong commitment to the growing market for non-payment insurance. This collaboration is expected to accelerate LimitFi's growth and capabilities.

SiriusPoint Ltd. (NYSE:SPNT) reported a net loss of $48 million for Q3 2021, translating to $0.34 per diluted share. The tangible diluted book value per share fell by 1.6% to $14.07. Catastrophe losses totaled $287 million, significantly impacting the combined ratio, which reached 152%. However, net investment income was strong at $200 million, driven by a 16.3% return from the TP Enhanced Fund. The company successfully executed a $369 million loss portfolio transfer with the Compre Group, further optimizing its capital allocation.

SiriusPoint Ltd. (NYSE: SPNT) announced a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B. This dividend will be payable on November 30, 2021, to shareholders on record as of November 15, 2021. The company, headquartered in Bermuda, engages in global insurance and reinsurance, holding over $3 billion in total capital and an A- (Excellent) financial strength rating from AM Best, S&P, and Fitch.