Welcome to our dedicated page for Siriuspoint news (Ticker: SPNT), a resource for investors and traders seeking the latest updates and insights on Siriuspoint stock.
SiriusPoint Ltd. (NYSE: SPNT) is a Bermuda-headquartered global specialty insurer and reinsurer. As a global underwriter of insurance and reinsurance with licenses to write Property & Casualty and Accident & Health business, the company regularly issues news on underwriting performance, strategic transactions, ratings actions, and corporate developments. Its operating companies hold financial strength ratings of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s, and S&P has revised its outlook on SiriusPoint and its operating subsidiaries to Positive based on underwriting profits and a reduced risk profile.
News about SiriusPoint often covers quarterly and annual financial results, including combined ratios, Core results for its Insurance & Services and Reinsurance segments, and return on equity metrics. Investors and analysts follow these updates to understand how catastrophe losses, prior-year reserve development, and premium growth in areas such as Accident & Health, Surety, and international property and casualty programs are affecting the company’s performance.
The company also announces strategic portfolio moves, such as the sale of its supplemental health insurance program manager ArmadaCare to a subsidiary of Ambac Financial Group Inc., the sale of its equity stake in Arcadian Risk Capital to an acquisition vehicle affiliated with Lee Equity Partners, and the planned acquisition of Assist America by its wholly owned subsidiary International Medical Group. These items highlight how SiriusPoint manages its mix of equity stakes, service platforms, and long-term capacity partnerships with Managing General Agents and Program Administrators.
In addition, SiriusPoint’s news feed includes governance and capital updates, such as board appointments, executive changes, adoption of an Executive Severance Plan, and quarterly cash dividends on its 8.00% Resettable Fixed Rate Preference Shares, Series B. For readers tracking SPNT, this news page provides a centralized view of the company’s earnings announcements, ratings outlook changes, strategic transactions, and corporate actions over time.
SiriusPoint Ltd. (NYSE:SPNT) reported its fourth quarter results for 2022, showing a net loss of $27 million or $0.17 per diluted share. The company's combined ratio improved to 90.4%, reflecting an underwriting income of $58 million. For the full year, SiriusPoint's losses totaled $403 million with a combined ratio of 96.4%. While core income reached $25 million, the company faced significant catastrophe losses of $138 million. Despite these challenges, the firm is aiming for over $50 million in cost reductions and a return on equity target by 2024. The CEO expressed confidence in the company's momentum, focusing on underwriting improvements and a de-risked investment portfolio.
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. The dividend will be paid on February 28, 2023 to shareholders on record as of February 13, 2023. SiriusPoint is a global insurer and reinsurer with a financial strength rating of A- from AM Best, S&P, and Fitch, and total capital of $2.9 billion. With offices in multiple locations including Bermuda, New York, and London, the company provides a range of insurance solutions worldwide.
SiriusPoint Ltd. (NYSE: SPNT) will release its fourth quarter 2022 financial results after market close on February 23, 2023. A conference call to discuss the results is scheduled for February 24, 2023, at 8:30 AM ET. Investors can access the live webcast through the Investor Relations section of the company's website. SiriusPoint operates as a global insurer and reinsurer, with a financial strength rating of A- (Excellent) from AM Best, S&P, and Fitch. The company has a total capital of $2.9 billion and provides services globally across almost 150 countries.
SiriusPoint Ltd. (NYSE: SPNT) has appointed Rob Gibbs as President of its international business and conditional CEO of SiriusPoint International Insurance Corporation, effective December 12, 2022, pending regulatory approval. Gibbs has 24 years of re/insurance experience, previously serving as Commercial Managing Director at RSA. He will drive growth and oversee transformation across SiriusPoint’s international platform. Additionally, Anders Hjelm is promoted to Deputy CEO, and Jennifer Bowie is appointed interim Chief Underwriting Officer. These changes aim to strengthen leadership and position the company for profitable growth in key markets.
SiriusPoint Ltd. (SPNT) reported a net loss of $98 million ($0.61 per share) in Q3 2022, with gross premiums written totaling $844 million, comprised of 62% insurance and 38% reinsurance. The combined ratio reached 107.7%, highlighting an underwriting loss of $47 million. Significant catastrophe losses amounted to $115 million, impacting financial performance. Despite challenges, the company is restructuring its underwriting platform to enhance profitability and efficiency. The leadership team also saw changes, including the retirement of President International Reinsurance Monica Cramér Manhem.
SiriusPoint Ltd. (NYSE: SPNT) will announce its third quarter 2022 financial results on November 2, 2022, after market close. A conference call is scheduled for November 3, 2022, at 8:30 AM ET, allowing investors to discuss the results. The call can be accessed via phone or a live webcast on the company's website. SiriusPoint operates globally, offering Property & Casualty and Accident & Health insurance with a total capital exceeding $3 billion and strong financial ratings from AM Best, S&P, and Fitch.
SiriusPoint Ltd. (NYSE: SPNT) has appointed Steve Yendall as Chief Financial Officer, effective October 31, 2022. Yendall boasts 25 years of experience in the re/insurance industry and will report to CEO Scott Egan. He replaces David Junius, who has resigned. Egan praised Yendall's significant financial background and transformational leadership skills, projecting that he will aid in achieving SiriusPoint's strategic objectives. Headquartered in Bermuda, SiriusPoint operates globally, offering various insurance solutions and holds over $3 billion in total capital with an A- (Excellent) rating from AM Best.
SiriusPoint Ltd. (NYSE: SPNT) announced the appointment of Scott Egan as CEO, effective September 21, 2022. Sharon Ludlow, interim Chair, expressed confidence in Egan's extensive experience in transforming businesses and risk management. Egan, previously CEO of RSA UK & International, brings over 25 years in the insurance industry, aiming to drive SiriusPoint's transformation into a best-in-class operator. The company thanks interim CEO Dan Malloy for his leadership during the transition.
Corvus Insurance has appointed Madhu Tadikonda as its new CEO, succeeding founding CEO Philip Edmundson, who becomes Executive Chair. The leadership change aims to enhance growth as Corvus expands its international operations and continues to innovate in cyber insurance. Since its inception in 2017, Corvus has achieved significant milestones, including yearly revenue and premium doubling, expanding its workforce, and entering new markets in the UK and Germany. A recent partnership with SiriusPoint Ltd. will inject $100 million to enhance their Smart Cyber Insurance products.
SiriusPoint Ltd. (NYSE:SPNT) reported a net loss of $61 million for Q2 2022, translating to $0.38 per diluted share. Gross premiums written totaled $813 million, with a 53% insurance and 47% reinsurance split, highlighting a strategic shift towards Insurance & Services. The combined ratio stood at 93.1%, and underwriting income reached $39 million. However, tangible diluted book value per share fell by 3.6% to $11.45. Catastrophe losses accounted for $16 million. The company aims to improve its Reinsurance underwriting and plans to leverage a rising rate environment for growth.