SiriusPoint reports tenth consecutive quarter of underwriting profits and strong net income of $58m | SPNT Stock News

Author's Avatar
May 05, 2025
  • Net income for SiriusPoint Ltd. (SPNT, Financial) reached $57.6 million in Q1 2025, equating to $0.49 per diluted share.
  • Core gross premiums written increased by 12.4% to $989.9 million, with net premiums written up by 20%.
  • SiriusPoint continues to strengthen its financial position with a 5.3% increase in book value per diluted common share to $15.37.

SiriusPoint Ltd. (SPNT), a prominent global insurance and reinsurance company, reported strong financial results for the first quarter of 2025, showcasing a net income of $57.6 million or $0.49 per diluted share. This marks the tenth consecutive quarter of underwriting profitability for the company.

The company achieved a noteworthy increase in core gross premiums written, which grew by 12.4%, reaching $989.9 million. Notably, net premiums written surged by 20%. These increases were particularly driven by the Insurance & Services segment, which recorded a 21.1% growth in gross premiums written, totaling $635.1 million.

During Q1 2025, SiriusPoint managed to keep its financial stability intact despite a net impact of $59 million from the California wildfires, which was below the guided range from the previous quarter. The Core combined ratio for the quarter stood at 95.4%, up from 91.4% year-over-year, reflecting the company's resilience amidst challenging conditions.

The financial outlook for SiriusPoint has been bolstered by the upgrade from AM Best and Fitch, who revised their ratings outlook from stable to positive, acknowledging the company's continued positive trajectory and strategic progress. Additionally, the book value per diluted common share increased by 5.3% to $15.37, indicating a robust financial standing and strong shareholder returns.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.