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SiriusPoint SPNT

SiriusPoint reports $90.8 million net income for Q3 2025

Form
10-Q
Filed
Importance
Notable
  1. Revenue of $755.9 million for the three months ended Sep 30, 2025
  2. Net income of $90.8 million for the three months ended Sep 30, 2025
  3. Diluted EPS of $0.73 for the three months ended Sep 30, 2025
  4. Cash and equivalents of $582.4 million as of Sep 30, 2025

Written from the 10-Q on EDGAR. Check the filing before you rely on it.

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  • For the quarter ended June 30, 2026, SiriusPoint Ltd reported: Revenue $744.1 million.
  • Net income $68.6 million.
  • Net margin 9.2%.
  • Revenue change from a year earlier -0.5%.

From the filing

Item 1. Financial Statements

Item 1. Financial Statements

1

Consolidated Balance Sheets as of September 30, 2025 (unaudited) and December 31, 2024

1

Consolidated Statements of Income for the three and nine months ended September 30, 2025 and 2024 (unaudited)

2

Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2025 and 2024 (unaudited)

3

Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2025 and 2024 (unaudited)

4

Consolidated Statements of Cash Flows for the three and nine months ended September 30, 2025 and 2024 (unaudited)

5

Notes to the Consolidated Financial Statements

Note 1. Organization

6

Note 2. Significant accounting policies

6

Note 3. Significant transactions

7

Note 4. Segment reporting

7

Note 5. Cash, cash equivalents, restricted cash and restricted investments

13

Note 6. Fair value measurements

13

Note 7. Investments

19

Note 8. Total net investment income and net realized and unrealized investment gains (losses)

23

Note 9. Derivatives

25

Note 10. Variable and voting interest entities

26

Note 11. Loss and loss adjustment expense reserves

28

Note 12. Allowance for expected credit losses

29

Note 13. Debt and letter of credit facilities

30

Note 14. Income taxes

31

Note 15. Shareholders' equity

32

Note 16. Earnings per share available to SiriusPoint common shareholders

34

Note 17. Related party transactions

34

Note 18. Commitments and contingencies

35

Note 19. Subsequent events

37

ITEM 1. Financial Statements

ITEM 1. Financial Statements

SIRIUSPOINT LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of September 30, 2025 and December 31, 2024

(expressed in millions of U.S. dollars, except per share and share amounts)

September 30,

2025 December 31,

2024

Assets

Debt securities, available for sale, at fair value, net of allowance for credit losses of $ 0.0 (2024 - $ 1.1 ) (cost - $ 5,097.3 ; 2024 - $ 5,143.8 ) $ 5,145.6 $ 5,131.0 Debt securities, trading, at fair value (cost - $ 119.5 ; 2024 - $ 187.3 ) 98.7 162.2 Short-term investments, at fair value (cost - $ 24.3 ; 2024 - $ 95.3 ) 24.6 95.8 Other long-term investments, at fair value (cost - $ 432.8 ; 2024 - $ 438.2 ) (includes related party investments at fair value of $ 221.5 (2024 - $ 217.2 )) 318.3 316.5 Total investments 5,587.2 5,705.5 Cash and cash equivalents 582.4 682.0

Restricted cash and cash equivalents 135.3 212.6

Due from brokers 10.0 11.2 Interest and dividends receivable 43.9 44.0

Insurance and reinsurance balances receivable, net 2,291.4 2,054.4

Deferred acquisition costs, net 381.1 327.5 Unearned premiums ceded 487.1 463.9

Loss and loss adjustment expenses recoverable, net 2,162.9 2,315.3

Deferred tax asset 282.2 297.0 Intangible assets 123.6 140.8 Other assets 330.0 270.7

Assets held for sale 43.1 —

Total assets $ 12,460.2 $ 12,524.9

Liabilities

Loss and loss adjustment expense reserves $ 5,811.7 $ 5,653.9

Unearned premium reserves 1,867.9 1,639.2 Reinsurance balances payable 1,492.1 1,781.6

Deferred gain on retroactive reinsurance — 8.5

Debt 682.5 639.1 Due to brokers 27.5 18.0 Deferred tax liability 78.5 76.2

Share repurchase liability — 483.0

Other liabilities 263.2 286.6

Liabilities held for sale 25.8 —

Total liabilities 10,249.2 10,586.1

Commitments and contingent liabilities (refer to Note 18)

Shareholders' equity

Series B preference shares (par value $ 0.10 ; authorized and issued: 8,000,000 )

200.0 200.0 Common shares (issued and outstanding: 116,807,497 ; 2024 - 116,429,057 ) 11.7 11.6

Additional

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