SiriusPoint Ltd. · NYSE:SPNT
SiriusPoint — Q3 2026 Earnings Presentation
37 slides from SiriusPoint's earnings presentation, Nov 5, 2026
Slide 1: Q3 2026 Investor Presentation
Q3 2026 INVESTOR PRESENTATION November 5, 2026 NYSE: SPNT
Slide 2: Basis of Presentation and Non-GAAP Financial Measures
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 combined entity
Slide 3: Agenda
AGENDA 3 Highlights & Strategic Update Scott Egan, Group CEO Third Quarter & Nine Months Financial Results Jim McKinney, Group CFO Q&A
Slide 4: Highlights & Strategic Update
Highlights & Strategic Update
Slide 5: SiriusPoint Overview
Upgraded to A by S&P, AM Best and Fitch in 2026 5 SIRIUSPOINT OVERVIEW Notes: [1] Core Gross Written Premium on a Last Twelve Months basis. [2] Represents total shareholders' equity plus debt capital. [3] SiriusPoint Group Bermuda Solvency Capital Ratio calculated as available economic capital and s
Slide 6: Strong Underwriting Driving Earnings and Value Creation
6 STRONG UNDERWRITING DRIVING EARNINGS AND VALUE CREATION Continued disciplined underwriting delivers a 90.1% Core Combined Ratio in Q3'26 and 90.1% for 9M'26 Strong Q3'26 Insurance & Services GWP growth of 20% drives Core GWP growth of 14% Q3'26 Operating ROE1 of 17.6% and 9M'26 Operating ROE1 of 1
Slide 7: Track Record of Consistent Earnings and Value Creation
$11.59 $12.41 $12.63 $12.91 $13.33 $13.74 $14.47 $14.25 $14.64 $15.15 $15.64 $16.47 $18.10 $18.98 $19.48 $20.21 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 $0.56 $0.41 $0.48 $0.43 $0.22 $0.59 $0.32 $0.54 $0.29 $0.53 $0.68 $0.74 $0.72 $0.72 $0.68 $0
Slide 8: Insurance Growth and Attractive Underwriting Margins
8 INSURANCE GROWTH AND ATTRACTIVE UNDERWRITING MARGINS Core Combined Ratio (ex. LPT Benefit2)Trailing Last Twelve Months Premium Growth1 91.7% 93.8% 91.7% 92.5% 87.0% 83.7% 84.7% 89.6% 89.1% 91.9% 88.1% 91.2% 90.1%6.6% 10.9% 92.9% 93.8% 91.7% 93.5% 88.9% 90.3% 95.6% 89.5% 89.1% 92.9% 88.9% 91.4% 90.
Slide 9: Low Underwriting Volatility Driving Value Creation
Diluted BVPS (ex. AOCI) CAGR Co m bi ne d Ra tio V ol at ili ty SiriusPoint Market Average 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 22.0% 24.0% 26.0% 28.0% 30.0% —% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 3 Year Combined Ratio Volatility1 9 LOW UNDER
Slide 10: LPT Deal Covering Remaining Run-off Exposures
10 LPT DEAL COVERING REMAINING RUN-OFF EXPOSURES Additional Comments – After completion of the LPT with RiverStone1, substantially all of SiriusPoint's run-off exposures will be covered by LPTs, resulting in negligible go-forward run-off loss costs – Management feel it had a strong reserve position
Slide 11: Consistent and Strong Core Business
11 CONSISTENT AND STRONG CORE BUSINESS Core Operating Return on Equity1 17.2% 11.1% 15.0% 13.0% 14.9% 18.5% 19.5% 19.1% 18.3% 14.7% 18.1% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Notes: [1] Core Operating Return on Equity and Operating Return on Equity are non-GAAP measures.
Slide 12: Active Portfolio Management to Maximize Core Returns
UK & Lloyd's 12 ACTIVE PORTFOLIO MANAGEMENT TO MAXIMIZE CORE RETURNS Accident & Health Property Cat Re Notes: GWP pie charts represent Last Twelve Months Gross Written Premium for Core segment by underwriting hub. General Liability includes Multiline. FinPro contains Financial, Professional and Tran
Slide 13: Highly Diversified Portfolio with Omni-Channel Distribution
58%27% 8% 7% 13 HIGHLY DIVERSIFIED PORTFOLIO WITH OMNI-CHANNEL DISTRIBUTION Notes: [1] Gross Written Premium on a Last Twelve Months basis. [2] Direct represents consolidated MGA premiums and premiums derived without a broker or MGA. 66% 34% Distribution Channel52% 23% 12% 13% Underwriting Hub Core
Slide 14: Updating Segment Reporting to Reflect Business Evolution
26% 74% 14 UPDATING SEGMENT REPORTING TO REFLECT BUSINESS EVOLUTION Notes: [1] Gross Written Premium on a Last Twelve Months basis. 66% 34% Underwriting Segment Update1 Accident & Health General Liability FinPro Surety Credit Aviation Other Casualty Marine & Energy Other Property Property Cat Re Ins
Slide 15: Rigorous Approach to Partnering with MGAs
15 RIGOROUS APPROACH TO PARTNERING WITH MGAs Notes: [1] Refers to P&C MGA partners. Disciplined approach to MGA partner selection >90% new opportunities declined In-depth discovery period for potential partners 6-9 months typical time in discovery before onboarding onboarding long term THOROUGH ONBO
Slide 16: SiriusPoint Forward Outlook
16 SIRIUSPOINT FORWARD OUTLOOK Seasoned management team with demonstrated track record of execution Low volatility underwriter with track record of delivering or exceeding our profitability targets Undervalued balance sheet with demonstrated significant upside from MGA portfolio Agile capital alloca
Slide 17: Third Quarter and Nine Months Results Update
Third Quarter and Nine Months Results Update
Slide 18: Q3 2026 Financial Results
Financial Highlights $ numbers in USD millions Q3'25 Q3'26 Gross Written Premium $872 $991 Net Written Premium $665 $679 COR (%) 89.1% 90.1% UW Income $70 $76 Net Services Fee Income $10 $12 Total Investment Result2 $73 $69 Operating Net Income3 $87 $103 Operating Earnings Per Share3 $0.74 $0.88 Q2'
Slide 19: Nine Months 2026 Financial Results
Financial Highlights $ numbers in USD millions 9M'25 9M'26 Gross Written Premium $2,792 $2,976 Net Written Premium $2,117 $2,085 COR (%) 91.4% 90.1% UW Income $166 $202 Net Services Fee Income $38 $30 Total Investment Result2 $213 $220 Operating Net Income3 $231 $273 Operating Earnings Per Share3 $1
Slide 20: Segment Results
$562 $673 Q3'25 Q3'26 $1,758 $2,002 9M'25 9M'26 – Premium Gross written premium increased 20% for the quarter, driven by increased premium estimates in FinPro and Surety growth, offset by the exit of a large International A&H program – Loss Performance Q3'26 loss ratio improved 1.9 ppts with lower a
Slide 21: Reserving Prudence Demonstrated by PYD Track Record
21 RESERVING PRUDENCE DEMONSTRATED BY PYD TRACK RECORD Notes: [1] Reflects consolidated results. [2] Q1'23 favorable prior year development excludes the one-off $102m benefit from the 2023 loss portfolio transfer. Favorable Prior Year Development1,2 $4.1 $3.8 $33.0 $24.7 $11.1 $38.9 $1.1 $30.6 $37.3
Slide 22: High-Quality Portfolio Supports Durable Investment Income
$206 $198 $213 $220 9M'25 9M'26 16% 40% 27% 15% 1% HIGH-QUALITY PORTFOLIO SUPPORTS DURABLE INVESTMENT INCOME 22 $ numbers in USD millions Key Comments Notes: [1] Third Point Enhanced Fund. [2] Other includes Strategic Investments, TP Ventures and Legacy & Other Alts. [3] Excludes short-term investme
Slide 23: Strong Financial Strength and Capital Position
237% (3)% (2)% 232% (19)% 213% Q2'26 Net Capital Generation Capital Returned Q3'26E Stress Test Scenario Post-event Q3'26E 23 STRONG FINANCIAL STRENGTH AND CAPITAL POSITION – Capital position remains resilient after capital returns and modelled 1-in-250 year stress- test scenarios – Operating the bu
Slide 24: Leverage Decreased While Liquidity Has Increased
$662 $671 $1,112 $1,061 $1,014 Available dividend capacity from subsidiaries and HoldCo Investments Revolving Credit Facility undrawn capacity Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 24 LEVERAGE DECREASED WHILE LIQUIDITY HAS INCREASED Leverage1 Liquidity $ numbers in USD millions Key Comments 2 27.2% 23.8% 24
Slide 25: Appendix A: Supplementary Slides
Appendix A: Supplementary Slides
Slide 26: Platform Reshaping Enabling Profitable Growth
2022-2023: Turnaround 2024: Major Reshaping 26 Notes: [1] Total Shareholder Return (TSR) calculated from September 21, 2022, when the management changes occurred. 2025 Onwards figure calculated through November 4, 2026. [2] For Core business. [3] As demonstrated on slide 9 based on the last twelve q
Slide 27: Accident & Health to Become a Standalone Segment
24% 45% 12% 8% 7% 4% IMG Health/Medical Life Personal Accident Supplemental Health Other Travel 27 ACCIDENT & HEALTH TO BECOME A STANDALONE SEGMENT Investing in IMG's Distribution and ServicesAccident & Health Portfolio Overview – IMG is a 100%-owned A&H MGA that is a core part of the business for b
Slide 28: Strategic MGA Investments
$262m $204m $105m $102m $60m Held Value <$5m Held Value $5-$10m Held Value $10-$20m Held Value >$20m Q4'22 Q4'23 Q4'24 Q4'25 Q3'26 28 STRATEGIC MGA INVESTMENTS Non-Consolidated MGA Investments $ numbers in USD millions Core (Go-Forward MGAs) Q3'26 Change 9M'26 Change Service Revenue $62 19% $175 20%
Slide 29: Deliberate Actions Have Reduced Catastrophe Volatility
11.7% 7.9% 6.4% 4.5% 4.3% 4.1% 3.5% 3.2% 2.7% 2.6% 1.9% 1.4% 0.6% 0.5% Peer A Peer G Peer H Peer F Peer I Peer E Peer C Peer B Peer D Peer M Peer K Peer L SiriusPoint Peer J 22.5% 8.4% 8.4% 6.3% 5.5% 5.3% 3.9% 3.5% 2.9% 2.8% 2.7% 1.8% 1.2% 0.7% Peer A Peer B Peer G Peer F Peer E Peer C Peer I Peer H
Slide 30: Abbreviation Glossary
30 ABBREVIATION GLOSSARY APPENDIX A5 Abbreviation Definition Abbreviation Definition A&H Accident & Health LPT Loss Portfolio Transfer ABS Asset-Backed Security MBS Mortgage-Backed Security Acq Acquisition MGA Managing General Agent AOCI Accumulated Other Comprehensive Income NEP Net Earned Premium
Slide 31: Appendix B: Non-GAAP Reconciliations
Appendix B: Non-GAAP Reconciliations
Slide 32: Reconciliation of Quarterly Operating Net Income
32 RECONCILIATION OF QUARTERLY OPERATING NET INCOME Q3'26 Q2'26 Q1'26 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 $ 86.8 $ 68.6 $ 99.6 $ 240.0 $ 86.8 $ 59.2 $ 57.6 $ (21.3) $ 4.5 $ 109.9 $ 90.8 $ 93.5 $
Slide 33: Reconciliation of Quarterly Core Operating Net Income
33 RECONCILIATION OF QUARTERLY CORE OPERATING NET INCOME Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Operating net income available to SiriusPoint common shareholders $ 103.2 $ 81.5 $ 87.8 $ 87.7 $ 87.4 $ 80.3 $ 63.4 $ 46.0 $ 96.9 $ 60.4 $ 110.4 Run-off (non-core) underwriting
Slide 34: Reconciliation of Quarterly Operating ROE and Core Operating ROE
34 RECONCILIATION OF QUARTERLY OPERATING RETURN ON EQUITY AND CORE OPERATING RETURN ON EQUITY Notes: Metric(s) referenced on slides 6 and 11. Prior period results have been recast to reflect current period presentation. APPENDIX B3 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Op
Slide 35: Nine Months Operating Net Income and ROE Reconciliation
9M'26 9M'25 Net income available to SiriusPoint common shareholders $ 255.0 $ 203.6 Non-recurring adjustments: Gains on sale or deconsolidation of consolidated MGAs (25.2) — (Gains) losses on other investments 14.8 (0.6) MGA & other investment rationalization (10.4) (0.6) (Income) expense related to
Slide 36: Nine Months Core Operating Net Income Reconciliation
9M'26 9M'25 FY 25 FY 24 Operating net income available to SiriusPoint common shareholders $ 272.6 $ 231.1 $ 318.9 $ 313.7 Run-off (non-core) underwriting results 26.0 18.1 28.4 50.5 Adjustment for previously excluded amounts relating to run-off — — (2.0) (27.0) Run-off tax impact (5.0) (3.4) (5.0) (
Slide 37: investors.siriuspt.com
investors.siriuspt.com