XML 54 R43.htm IDEA: XBRL DOCUMENT v3.25.1
Segment reporting - Operating Segment Results (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Segment Reporting Information [Line Items]    
Gross premiums written $ 984.7 $ 906.6
Net premiums written 743.0 639.3
Net premiums earned 626.7 593.8
Loss and loss adjustment expenses incurred, net 401.8 317.5
Acquisition costs, net 129.7 144.9
Other underwriting expenses 41.1 41.8
Underwriting income (loss) 54.1 89.6
Services revenues 29.7 27.8
Services expenses 60.6 56.0
Noncontrolling income (loss) (0.4) (1.1)
Net income available to SiriusPoint 61.6 94.8
Segment income (loss) 54.1 89.6
Net investment income 71.2 78.8
Net realized and unrealized investment (losses) gains (0.3) 1.0
Loss on settlement and change in fair value of liability-classified capital instruments 0.0 (15.9)
Net corporate and other expenses (60.6) (56.0)
Intangible asset amortization (2.9) (2.9)
Interest expense (18.1) (20.5)
Foreign exchange gains 2.2 3.7
Income before income tax expense 75.3 105.6
Income tax (expense) benefit (13.3) (9.7)
Net income 62.0 95.9
Attritional losses 368.1 356.4
Catastrophe losses 67.9  
Prior year loss reserve development (34.2) (38.9)
Loss and loss adjustment expenses incurred, net $ 401.8 $ 317.5
Underwriting Ratios:    
Attritional loss ratio 0.588 0.600
Catastrophe loss ratio 0.108  
Prior year loss development ratio (0.055) (0.065)
Loss ratio 64.10% 53.50%
Acquisition cost ratio 20.70% 24.40%
Other underwriting expenses ratio 6.60% 7.00%
Combined ratio 91.40% 84.90%
Operating Segments    
Segment Reporting Information [Line Items]    
Gross premiums written $ 989.9 $ 880.7
Net premiums written 752.0 627.2
Net premiums earned 625.8 517.8
Loss and loss adjustment expenses incurred, net 405.2 301.1
Acquisition costs, net 154.4 135.0
Other underwriting expenses 37.7 37.4
Underwriting income (loss) 28.5 44.3
Noncontrolling income (loss) 0.0 0.0
Net income available to SiriusPoint 47.4 62.4
Segment income (loss) 47.4 62.4
Income before income tax expense 47.4 62.4
Income tax (expense) benefit 0.0 0.0
Net income 47.4 62.4
Attritional losses 371.6 309.1
Catastrophe losses 67.9  
Prior year loss reserve development (34.3) (8.0)
Loss and loss adjustment expenses incurred, net $ 405.2 $ 301.1
Underwriting Ratios:    
Attritional loss ratio 0.593 0.597
Catastrophe loss ratio 0.109  
Prior year loss development ratio (0.055) (0.016)
Loss ratio 64.70% 58.10%
Acquisition cost ratio 24.70% 26.10%
Other underwriting expenses ratio 6.00% 7.20%
Combined ratio 95.40% 91.40%
Operating Segments | Services    
Segment Reporting Information [Line Items]    
Services revenues $ 62.1 $ 65.8
Services expenses 43.1 46.0
Net services fee income 19.0 19.8
Noncontrolling income (loss) (0.1) (1.7)
Net income available to SiriusPoint 18.9 18.1
Net corporate and other expenses (43.1) (46.0)
Eliminations    
Segment Reporting Information [Line Items]    
Gross premiums written 0.0 0.0
Net premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Loss and loss adjustment expenses incurred, net (2.0) (1.4)
Acquisition costs, net (28.0) (33.2)
Other underwriting expenses 0.0 0.0
Underwriting income (loss) 30.0 34.6
Noncontrolling income (loss) 0.0 0.0
Net income available to SiriusPoint (0.2) (2.5)
Segment income (loss) (0.2) (2.5)
Income before income tax expense (0.2) (2.5)
Income tax (expense) benefit 0.0 0.0
Net income (0.2) (2.5)
Attritional losses (2.0) (1.4)
Catastrophe losses 0.0  
Prior year loss reserve development 0.0 0.0
Loss and loss adjustment expenses incurred, net (2.0) (1.4)
Eliminations | Services    
Segment Reporting Information [Line Items]    
Services revenues (30.2) (37.1)
Services expenses 0.0 0.0
Net services fee income (30.2) (37.1)
Noncontrolling income (loss) 0.0 0.0
Net income available to SiriusPoint (30.2) (37.1)
Net corporate and other expenses 0.0 0.0
Corporate    
Segment Reporting Information [Line Items]    
Gross premiums written (5.2) 25.9
Net premiums written (9.0) 12.1
Net premiums earned 0.9 76.0
Loss and loss adjustment expenses incurred, net (1.4) 17.8
Acquisition costs, net 3.3 43.1
Other underwriting expenses 3.4 4.4
Underwriting income (loss) (4.4) 10.7
Services revenues (2.2) (0.9)
Services expenses 17.5 10.0
Noncontrolling income (loss) (0.3) 0.6
Net income available to SiriusPoint 14.4 34.9
Segment income (loss) (4.4) 10.7
Net investment income 71.2 78.8
Net realized and unrealized investment (losses) gains (0.3) 1.0
Loss on settlement and change in fair value of liability-classified capital instruments   (15.9)
Net corporate and other expenses (17.5) (10.0)
Intangible asset amortization (2.9) (2.9)
Interest expense (18.1) (20.5)
Foreign exchange gains 2.2 3.7
Income before income tax expense 28.0 44.0
Income tax (expense) benefit (13.3) (9.7)
Net income 14.7 34.3
Attritional losses (1.5) 48.7
Prior year loss reserve development 0.1 (30.9)
Loss and loss adjustment expenses incurred, net (1.4) 17.8
Segment Measure Reclass    
Segment Reporting Information [Line Items]    
Services revenues 31.9 28.7
Services expenses 43.1 46.0
Noncontrolling income (loss) (0.1) (1.7)
Net income available to SiriusPoint 0.0 0.0
Segment income (loss) 11.3 19.0
Net realized and unrealized investment (losses) gains 0.0 0.0
Net corporate and other expenses (43.1) (46.0)
Income before income tax expense 0.1 1.7
Income tax (expense) benefit 0.0 0.0
Net income 0.1 1.7
Segment Measure Reclass | Services    
Segment Reporting Information [Line Items]    
Services revenues (31.9) (28.7)
Services expenses (43.1) (46.0)
Net services fee income 11.2 17.3
Noncontrolling income (loss) 0.1 1.7
Net income available to SiriusPoint 11.3 19.0
Net corporate and other expenses 43.1 46.0
Reinsurance | Operating Segments    
Segment Reporting Information [Line Items]    
Gross premiums written 354.8 356.4
Net premiums written 268.5 290.1
Net premiums earned 289.6 253.6
Loss and loss adjustment expenses incurred, net 195.3 124.6
Acquisition costs, net 67.1 69.8
Other underwriting expenses 18.8 19.3
Underwriting income (loss) 8.4 39.9
Segment income (loss) 8.4 39.9
Income before income tax expense 8.4 39.9
Attritional losses 164.0 134.9
Catastrophe losses 63.1  
Prior year loss reserve development (31.8) (10.3)
Loss and loss adjustment expenses incurred, net $ 195.3 $ 124.6
Underwriting Ratios:    
Attritional loss ratio 0.566 0.532
Catastrophe loss ratio 0.218  
Prior year loss development ratio (0.110) (0.041)
Loss ratio 67.40% 49.10%
Acquisition cost ratio 23.20% 27.50%
Other underwriting expenses ratio 6.50% 7.60%
Combined ratio 97.10% 84.20%
Reinsurance | Operating Segments | Services    
Segment Reporting Information [Line Items]    
Services revenues $ 0.0 $ 0.0
Services expenses 0.0 0.0
Net services fee income 0.0 0.0
Noncontrolling income (loss) 0.0 0.0
Net income available to SiriusPoint 0.0 0.0
Net corporate and other expenses 0.0 0.0
Insurance & Services | Operating Segments    
Segment Reporting Information [Line Items]    
Gross premiums written 635.1 524.3
Net premiums written 483.5 337.1
Net premiums earned 336.2 264.2
Loss and loss adjustment expenses incurred, net 209.9 176.5
Acquisition costs, net 87.3 65.2
Other underwriting expenses 18.9 18.1
Underwriting income (loss) 20.1 4.4
Segment income (loss) 39.0 22.5
Income before income tax expense 39.0 22.5
Attritional losses 207.6 174.2
Catastrophe losses 4.8  
Prior year loss reserve development (2.5) 2.3
Loss and loss adjustment expenses incurred, net $ 209.9 $ 176.5
Underwriting Ratios:    
Attritional loss ratio 0.617 0.659
Catastrophe loss ratio 0.014  
Prior year loss development ratio (0.007) 0.009
Loss ratio 62.40% 66.80%
Acquisition cost ratio 26.00% 24.70%
Other underwriting expenses ratio 5.60% 6.90%
Combined ratio 94.00% 98.40%
Insurance & Services | Operating Segments | Services    
Segment Reporting Information [Line Items]    
Services revenues $ 62.1 $ 65.8
Services expenses 43.1 46.0
Net services fee income 19.0 19.8
Noncontrolling income (loss) (0.1) (1.7)
Net income available to SiriusPoint 18.9 18.1
Net corporate and other expenses $ (43.1) $ (46.0)