SiriusPoint Announces Redemption of Series B Preference Shares

Rhea-AI Summary

SiriusPoint (NYSE: SPNT) will redeem all 8,000,000 of its 8.00% Resettable Fixed Rate Preference Shares, Series B on February 26, 2026 at a redemption price of $25.00 per share plus $0.49 unpaid accrued dividends per share.

The company intends to delist and deregister the Series B Preference Shares after completion. The redemption is intended to simplify and optimize the company's capital structure, reduce financial leverage, and eliminate the ongoing cost and cash servicing associated with the Series B Preference Shares.

Positive

• Redeems all 8,000,000 Series B preference shares
• Removes recurring 8.00% preference dividend obligation
• Company intends to simplify and optimize capital structure

Negative

• One-time cash outflow of approximately $203.92 million to redeem shares
• Delisting and deregistration will end public trading of Series B shares

Key Figures

Series B shares: 8,000,000 shares Dividend rate: 8.00% Redemption price: $25.00 per share +5 more

8 metrics

Series B shares 8,000,000 shares Issued and outstanding 8.00% Resettable Fixed Rate Preference Shares, Series B

Dividend rate 8.00% Resettable Fixed Rate Preference Shares, Series B

Redemption price $25.00 per share Cash consideration per Series B Preference Share on redemption

Accrued dividend $0.49 per share Unpaid cumulative dividends to, but excluding, Redemption Date

Redemption date February 26, 2026 Scheduled redemption date for all Series B Preference Shares

Current price $20.58 Common stock price before the announcement

52-week range $13.26–$22.89 Common shares trading range over the last 52 weeks

Market cap $2,352,646,850 Equity value prior to the redemption news

Market Reality Check

Price: $20.58 Vol: Volume 528,993 is slightl...

normal vol

$20.58 Last Close

Volume Volume 528,993 is slightly below the 20-day average of 589,983. normal

Technical Shares at $20.58 are trading above the 200-day MA of $19.26 and about 10% below the 52-week high of $22.89.

Peers on Argus

SPNT gained 1.87% with modest volume while key reinsurance peers like RNR, HG, E...

SPNT gained 1.87% with modest volume while key reinsurance peers like RNR, HG, EG, GLRE and RGA also showed small positive moves, suggesting a broadly constructive sector tone but not a momentum-driven sector move.

Historical Context

5 past events · Latest: Dec 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 23	IMG acquisition	Positive	-0.7%	Acquisition of Assist America to expand capital-light assistance revenues.
Nov 18	CIO appointment	Neutral	-0.3%	Appointment of new Chief Investment Officer to oversee asset allocation.
Oct 30	Pref dividend	Neutral	+0.1%	Quarterly cash dividend declaration on Series B Preference Shares.
Oct 30	Q3 earnings	Positive	+0.1%	Strong Q3 results with 89.1% core combined ratio and higher premiums.
Oct 21	Subsidiary CEO hire	Neutral	+1.3%	New CEO appointed at IMG to support growth and transformation.

Pattern Detected

Recent news has generally produced modest price reactions, with one positive acquisition update met by a small negative move, while earnings and dividend news saw near-flat to slightly positive responses.

Recent Company History

Over the past few months, SiriusPoint has reported several operational and strategic milestones. An IMG acquisition aimed at adding capital-light fee income (Dec 23, 2025) was followed by a small share decline. Leadership updates at the CIO and IMG CEO level in November and October 2025 generated limited but mostly positive reactions. Strong Q3 2025 results with a core combined ratio of 89.1% and underwriting income of $69.6 million produced only a marginal gain. Today’s preference share redemption continues this theme of incremental capital and portfolio optimization steps.

Market Pulse Summary

This announcement focuses on redeeming all 8 million Series B Preference Shares on February 26, 2026...

Analysis

This announcement focuses on redeeming all 8 million Series B Preference Shares on February 26, 2026 at $25.00 per share plus $0.49 in accrued dividends, followed by delisting and deregistration of the series. It highlights management’s emphasis on simplifying capital structure and reducing financing costs. In context of prior operational improvements and portfolio moves, investors may watch future earnings and leverage metrics to gauge how this redemption influences overall capital efficiency and flexibility.

Key Terms

preference shares, redemption price, delist, redemption agent

4 terms

preference shares financial

"8.00% Resettable Fixed Rate Preference Shares, Series B"

Preference shares are a type of company stock that pays owners a fixed or regularly prioritized payout, similar to receiving steady interest from a savings account, while still representing ownership. They usually get paid dividends before regular (common) shareholders and have priority if the company distributes assets, but often carry limited voting rights and less upside if the company’s value soars. Investors care because preference shares trade off growth potential for steadier income and greater safety in payouts.

redemption price financial

"The redemption price payable on the Redemption Date is $25.00 per share"

The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.

delist regulatory

"the Company intends to delist the Series B Preference Shares from the New York Stock Exchange"

Delist means a company’s shares are removed from a public stock exchange so they can no longer be bought or sold on that market. Think of it like a product being taken off a supermarket shelf: the stock becomes harder to find, often leads to less trading, wider price swings, and reduced transparency, which matters to investors because it can limit ability to sell, change the value of holdings, and signal regulatory or financial problems.

redemption agent financial

"Holders may inquire about the redemption by contacting the redemption agent, Computershare Trust Company"

A redemption agent is the third-party firm or bank that handles the paperwork and payments when investors cash out certain securities or funds. Think of it as the trusted cashier and record-keeper who confirms you’re entitled to money, arranges the transfer, and ensures rules are followed; its efficiency and reliability affect how quickly and safely investors actually receive proceeds and reduce the risk of administrative delays or errors.

AI-generated analysis. Not financial advice.

HAMILTON, Bermuda, Jan. 29, 2026 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), a global specialty insurer and reinsurer, announced today that the Company will redeem all 8 million of its issued and outstanding 8.00% Resettable Fixed Rate Preference Shares, Series B (“Series B Preference Shares”) on February 26, 2026 (the “Redemption Date”). The redemption price payable on the Redemption Date is $25.00 per share, plus $0.49, which reflects unpaid, accrued cumulative dividends to, but excluding, the Redemption Date, without interest (the “Redemption Price”).

All outstanding Series B Preference Shares will be called for redemption. Following the redemption, no Series B Preference Shares will remain outstanding and all rights with respect to such Series B Preference Shares will cease and terminate, except for the right to receive the Redemption Price. Upon completion of the redemption, the Company intends to delist the Series B Preference Shares from the New York Stock Exchange and deregister the Series B Preference Shares under the Securities Exchange Act of 1934.

The redemption will help to simplify and optimize the Company’s capital structure and financial leverage, while also eliminating the cost of capital and related cash servicing associated with the Series B Preference Shares.  

The notice of redemption is in the process of being communicated to registered holders of the Series B Preference Shares. Holders may inquire about the redemption by contacting the redemption agent, Computershare Trust Company, N.A., at 150 Royall Street, Canton, MA 02021, 781-575-2765, or 800-546-5141.

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 approximately $2.8 billion in total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s. For more information, please visit www.siriuspt.com.

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

FAQ

What is SiriusPoint (SPNT) redeeming on February 26, 2026?

SiriusPoint is redeeming all 8,000,000 Series B preference shares on February 26, 2026. According to the company, the redemption price is $25.00 per share plus $0.49 in accrued dividends, payable on the Redemption Date.

How much will SiriusPoint (SPNT) pay to redeem all Series B preference shares?

The total redemption equals $25.00 plus $0.49 accrued dividends per share, per company disclosure. That implies a one-time cash payment of approximately $203.92 million for all 8,000,000 shares.

Why is SiriusPoint (SPNT) redeeming the Series B preference shares?

SiriusPoint says the redemption will simplify and optimize its capital structure and financial leverage. The company also cited eliminating the cost of capital and related cash servicing tied to the Series B shares.

Will the Series B preference shares remain listed after the redemption by SiriusPoint (SPNT)?

No; the company intends to delist and deregister the Series B preference shares after redemption. According to the company, no Series B shares will remain outstanding following the Redemption Date.

How can holders of SiriusPoint (SPNT) Series B preference shares get information about the redemption?

Holders may contact the redemption agent, Computershare Trust Company, N.A., for inquiries. According to the company, registered holders will receive a notice of redemption and provided agent contact details for assistance.