Strong Underwriting Performance
Achieved a core combined ratio of 89.1%, delivering an 11% increase in underwriting income versus last year, aided by no catastrophe losses in the quarter.
High Operating Return on Equity
Operating return on equity was 17.9%, significantly ahead of the 12% to 15% target range.
Significant MGA Disposals
Announced agreements for the sale of stakes in Armada and Arcadian for combined total proceeds of $389 million, expected to increase book value significantly.
Revenue Growth
Gross premiums written grew double-digit at 26% year-over-year, marking the sixth consecutive quarter with double-digit growth.
Third Outlook Upgrade
S&P upgraded SiriusPoint's outlook to positive, following upgrades from AM Best and Fitch earlier.
Investment Income
Net investment income continues to benefit from a supportive yield environment, with guidance on track for $265 million to $275 million.
Increase in Net Income
Net income for the quarter was $87 million, a significant improvement from $5 million last year.