SiriusPoint Reports $58M Net Income, Maintains Underwriting Profit Streak

SiriusPoint Ltd. reported a strong first quarter for 2025, achieving its tenth consecutive quarter of underwriting profits and delivering a net income of $58 million, despite significant losses from the California wildfires. The company’s core combined ratio rose to 95.4% from 91.4% in the prior year, reflecting elevated catastrophe losses, but favorable reserve development and growth in Accident & Health and Surety lines helped offset these impacts. Gross premiums written for the core business increased by 12%, while net premiums written surged by 20%, highlighting SiriusPoint's emphasis on retaining more profitable business, particularly in its Insurance & Services segment. The firm maintained a robust return on equity of 12.9% and saw positive outlook revisions from both AM Best and Fitch, citing strategic progress and financial stability. Earnings per share held steady at $0.49, surpassing analyst expectations, and book value per share increased by about 5%. CEO Scott Egan emphasized the company’s commitment to consistent earnings and growth momentum, supported by a strong balance sheet and improving underwriting fundamentals.