Slide 1: Q4 2025 Investor Presentation
Q4 2025 INVESTOR PRESENTATION February 18, 2026 NYSE: SPNT
Slide 2: Disclaimer
DISCLAIMER Basis of Presentation and Non-GAAP Financial Measures: Unless the context otherwise indicates or requires, as used in this presentation references to “we,” “our,” “us,” the “Company,” and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a comb
Slide 3: Agenda
AGENDA Highlights & Strategic Update Scott Egan, Group CEO Fourth Quarter & Full Year Results Update Jim McKinney, Group CFO Q&A 3
Slide 4: Highlights & Strategic Update
Highlights & Strategic Update
Slide 5: SiriusPoint Overview
SIRIUSPOINT OVERVIEW Drive excellence as a best-in-class specialty underwriter, with a diverse and low-volatility portfolio, that targets a 12-15% ROE across the cycle Other Specialties 3% Casualty 5% Relentless Focus on Underwriting Energy 6% 32% Environmental Marine Disciplined and Agile Capital A
Slide 6: Strong 2025 Earnings & Profitable Premium Growth
STRONG 2025 EARNINGS & PROFITABLE PREMIUM GROWTH FY 25 Core COR of 91.7%, with disciplined GWP growth of 16% Gross Written Core Combined Operating Premium1 Ratio Earnings Per Share2 Q4 Core COR of 92.9%, marking thirteen consecutive quarters of UW profit +16% 91.7% $2.55 Premium growth of 18% in Q4,
Slide 7: Platform Reshaping Enabling Profitable Growth
PLATFORM RESHAPING ENABLING PROFITABLE GROWTH 2025 Onwards: Profitable Growth Outperformed 'across the cycle' Operating ROE target of 12-15% 2024: Major Reshaping Thirteen consecutive quarters of UW profit LPTs covering $2.1bn of reserves from Seven consecutive quarters of double-digit exited busine
Slide 8: Track Record of Attractive Earnings and Value Creation
TRACK RECORD OF ATTRACTIVE EARNINGS AND VALUE CREATION $ numbers in USD millions, except per share data Long-Term Value Framework $107.9 $87.3 $94.3 Target niche and growing markets $84.5 $85.2 $85.8 $74.7 $78.1 where we have a competitive Operating $70.2 $61.0 advantage and a right to win $57.8 Net
Slide 9: Executing on Our Ambition of Best-in-Class Underwriting
EXECUTING ON OUR AMBITION OF BEST-IN-CLASS UNDERWRITING Trailing Twelve Months Combined Ratio Key Messages 103.9% – Portfolio actions created a 12.2 point improvement in SiriusPoint's trailing twelve 101.3% month combined ratio 101.6% compared to Q3'22 99.4% – Combined ratio volatility significantly
Slide 10: Portfolio Produces Low Volatility Profile
PORTFOLIO PRODUCES LOW VOLATILITY PROFILE Combined Ratio Volatility1 US Specialty Peers 22.8% 18.7% 17.5% 15.5% 12.0% 8.5% 6.8% 6.8% 4.4% 5.0% 4.0% 4.3% 2.5% 2.5% 2.8% 2.2% 1.2% Company A Company B SiriusPoint Company C Company D Company E Company F Company G Company H Company I Company J Company K
Slide 11: Portfolio Evolution Towards US Specialty Insurance
PORTFOLIO EVOLUTION TOWARDS US SPECIALTY INSURANCE FY 25 Gross Written Premium by Underwriting Platform1 Approximately half of premiums are now underwritten in the US as we continue to evolve into a US Specialty underwriter $0.9bn $1.8bn Strong optionality in underwriting platforms given global lice
Slide 12: Strong Growth While Retaining Underwriting Discipline
STRONG GROWTH WHILE RETAINING UNDERWRITING DISCIPLINE Premium Growth1 Core Combined Ratio (ex. LPT Benefit) Gross Written Premium 32% Net Earned Premium 96.8% 95.6% 92.9% 93.8% 93.5% 92.9% 91.1% 91.7% 90.3% 95.5% 93.8% 88.9% 10.9% 89.5% 89.1% 26% 91.7% 91.7% 92.5% 91.9% 91.1% 6.6% 89.6% 89.1% 87.0%
Slide 13: Targeted and Profitable Approach to Growth in 2025
TARGETED AND PROFITABLE APPROACH TO GROWTH IN 2025 $ numbers in USD millions Gross Written Premium Walk1 Key Summary 60% of growth from lines less correlated Growth managed on a portfolio-level basis with with P&C pricing intention of maintaining the low volatility profile – Low volatility business
Slide 14: Disciplined MGA Distribution with Seasoned Relationships
DISCIPLINED MGA DISTRIBUTION WITH SEASONED RELATIONSHIPS Overview of MGA Relationships Key Messages Onboarded Partner Relationship Length1 – Over 90% of the MGA premium mix comes from partners with a 3+ year relationship who have proven profitability track records – Partner growth is managed careful
Slide 15: Focusing on Accident & Health
FOCUSING ON ACCIDENT & HEALTH Accident & Health Portfolio Overview SiriusPoint GWP Accident & Health GWP 3% 7% 24% IMG 8% Health/Medical Low capital intensity Stable book is a 2025 2025 12% Life underwriting "volatility shock 73% GWP 27% GWP and capital-light absorber" to $3.7bn $1.0bn Personal Acci
Slide 16: SiriusPoint Forward Outlook
SIRIUSPOINT FORWARD OUTLOOK Strong underwriting culture with compensation aligned to shareholder value creation Agile capital allocator Seasoned management team with proven ability to move with demonstrated track and optimize capital record of execution Disciplined profitable growth Low volatility u
Slide 17: Fourth Quarter and Full Year Results Update
Fourth Quarter and Full Year Results Update
Slide 18: Core Segment Q4 2025 Financial Results
Q4 2025 FINANCIAL RESULTS Financial Highlights Key Comments $ numbers in USD millions Q4'24 Q4'25 – GWP1 up 18%, with NWP1 increasing by 18% and NEP1 up 16% Gross Written Premium $763 $897 – UW Income of $49m and COR of 92.9%1 ◦ Includes attritional loss ratio improvement and historic Net Written Pr
Slide 19: Core Segment Full Year 2025 Financial Results
FULL YEAR 2025 FINANCIAL RESULTS Financial Highlights Key Comments $ numbers in USD millions FY 24 FY 25 – GWP1 up 16%, with NWP1 increasing by 19% and NEP1 up 18% Gross Written Premium $3,176 $3,689 – UW Income up 7% with stable 91.7% COR1 ◦ Quality of earnings improvement with attritional COR Net
Slide 20: 1.5 Points of Combined Ratio Earnings Quality Improvement
1.5 POINTS OF COMBINED RATIO EARNINGS QUALITY IMPROVEMENT Trends in Attritional Combined Ratio1 Bridge to Core Combined Ratio Attritional Loss Ratio plus Total Expense Ratio2 93.1% 91.6% 91.6% 2.9% 91.7% 7.6% 6.6% 6.6% (2.8)% 25.7% 26.0% 26.0% OUE Ratio3 Acquisition Cost Ratio 59.8% 59.0% 59.0% Attr
Slide 21: Insurance & Services Segment
INSURANCE & SERVICES SEGMENT $ numbers in USD millions Gross Written Premium Business Mix1 Combined Ratio 92.0% 95.3% 95.2% 93.4% Attritional COR2 $2,314 Property $556 +26% 9% +23% $450 $1,841 93.3% 93.5% 91.7% 87.9% Other Specialties 6.3% 6.9% 5.8% 7.8% 18% A&H 24.6% 28.6% 24.7% 26.8% 43% OUE Ratio
Slide 22: Reinsurance Segment
REINSURANCE SEGMENT $ numbers in USD millions Gross Written Premium Business Mix1 Combined Ratio 95.7% 92.1% 90.5% 89.4% Attritional COR2 $1,336 +3% $1,375 Property $341 Other Specialties $312 9% 24% 40% 93.2% 92.1% 91.8% 88.0% 9.9% 8.8% 7.7% 8.2% 27.5% 26.8% 25.0% 26.8% OUE Ratio Acq. Cost Ratio Lo
Slide 23: Deliberate Actions Have Reduced Catastrophe Volatility
DELIBERATE ACTIONS HAVE REDUCED CATASTROPHE VOLATILITY FY 21 FY 22 FY 23 FY 24 FY 25 Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Company A 33.6% Company A 25.3% Company A 11.7% Company A 22.5% Company A SiriusPoint 18.8% Company
Slide 24: Reserving Prudence Demonstrated by PYD Track Record
RESERVING PRUDENCE DEMONSTRATED BY PYD TRACK RECORD $ numbers in USD millions Reserve Releases as % of Opening Net Reserves1 Key Comments – Nineteen consecutive quarters of favorable prior year development – External reserve review completed at FY 24 determined reserves were sufficiently prudent 4.5
Slide 25: High Quality Investment Portfolio
HIGH QUALITY INVESTMENT PORTFOLIO $ numbers in USD millions Net Investment Income Investment Balances by Asset Class Credit Quality4 STI TPE2 Other3 Not Rated / Below IG $304 CLO AAA $275 BBB $265-$275 1 4% 2% ABS 5% 13% 17% Corporate 9% 34% Q4'25 Government 13% $6.5bn A 27% 41% 14% AA 20% FY 24 FY
Slide 26: Strong Financial Strength and Capital Position
STRONG FINANCIAL STRENGTH AND CAPITAL POSITION $ numbers in USD millions BSCR Ratio Walk1 Financial Strength Ratings (FSR) $2.5bn Equity Capital2 22% 247% A- OUTLOOK UPGRADED A- OUTLOOK UPGRADED (POSITIVE) 4/25/25 (POSITIVE) 10/2/25 $0.7bn 232% Debt Capital (15)% 225% A- $3.2bn 213% OUTLOOK UPGRADED
Slide 27: Balance Sheet Leverage Ratio to Reduce to Historic Low
BALANCE SHEET LEVERAGE RATIO TO REDUCE TO HISTORIC LOW $ numbers in USD millions Leverage1 Liquidity Available dividend capacity from subsidiaries and HoldCo Investments 3 Debt / Capital Debt + Preferred / Capital Revolving Credit Facility undrawn capacity 34.2% 32.5% 29.7% $704 $682 28.1% $662 $671
Slide 28: Appendix
SiRiUs POINT
Slide 29: Reconciliation of Operating Net Income
APPENDIX 1 RECONCILIATION OF OPERATING NET INCOME Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 Q1 24 Q4 23 Q3 23 Q2 23 Q1 23 Q4 22 Net income (loss) available to SiriusPoint common shareholders $ 240.0 $ 86.8 $ 59.2 $ 57.6 $ (21.3) $ 4.5 $ 109.9 $ 90.8 $ 93.5 $ 57.5 $ 55.9 $ 131.9 $ (26.6) Non-recurrin
Slide 30: Reconciliation of Operating Earnings Per Share
APPENDIX 2 RECONCILIATION OF OPERATING EARNINGS PER SHARE Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 Q1 24 Q4 23 Q3 23 Q2 23 Q1 23 Q4 22 Diluted earnings per share available to SiriusPoint common shareholders $ 1.97 $ 0.73 $ 0.50 $ 0.49 $ (0.13) $ 0.03 $ 0.57 $ 0.49 $ 0.50 $ 0.32 $ 0.31 $ 0.74 $ (0.1
Slide 31: Reconciliation of Operating Return on Equity
APPENDIX 3 RECONCILIATION OF OPERATING RETURN ON EQUITY FY 25 FY 24 Net income available to SiriusPoint common shareholders $ 443.6 $ 183.9 Non-recurring adjustments: Gains on sale or deconsolidation of consolidated MGAs (222.4) (96.0) (Gains) losses on strategic and other investments 5.4 90.5 MGA &
Slide 32: Strategic MGA Investments
APPENDIX 4 STRATEGIC MGA INVESTMENTS Latest Rationalization Updates Non-Consolidated MGA Investments 100% Equity Stake 49% Equity Stake COMPLETED Q4'25 COMPLETED Q1'26 $262m • Sale of 100% equity stake in consolidated MGA Armada for • Sale of 49% equity stake in Arcadian for $140m total $250m comple
Slide 33: Abbreviation Glossary
APPENDIX 5 ABBREVIATION GLOSSARY Abbreviation Definition Abbreviation Definition A&H Accident & Health MBS Mortgage Backed Security ABS Asset Backed Security MGA Managing General Agent Acq Acquisition NEP Net Earned Premium AOCI Accumulated Other Comprehensive Income NII Net Investment Income BVPS B
Slide 34: investors.siriuspt.com
investors.siriuspt.com