SiriusPoint reports Q2 underlying EPS 66c, consensus 57c

Reports Q2 revenue $748.2M, consensus $720.1M. Scott Egan, Chief Executive Officer, said: “Our second quarter results reflect the strength of our disciplined underwriting strategy. With each quarter, we demonstrate our ability to deliver consistent and stable earnings. Underlying return on equity for the quarter of 17.0%, and 15.4% for half year, both exceed our 12-15% ‘across the cycle’ target. Our Core combined ratio for the quarter was 89.5%, an improvement of 3.8 points versus last year. Our half year Core combined ratio was flat compared to last year despite increased volatility from aviation losses and first quarter wildfires. We continued to see strong top line growth, with gross premiums written up 10% year over year. Beyond strong financials, the second quarter marked real and tangible progress in other areas. We were named Program Insurer of the Year in the US, achieved record scores in our employee engagement survey, and we attracted key talent to our business, including two new members of our executive leadership team. Our momentum continues, and this quarter is another purposeful step towards our goal of becoming a best-in-class underwriter.”