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November 11, 2024 Reinsurance
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Third Quarter 2024 Financial Supplement

U.S. Markets via PUBT

SiriusPoint Ltd.

Financial Supplement

September 30, 2024

(UNAUDITED)

This financial supplement is for informational purposes only. It should be read in conjunction with documents filed with the Securities and Exchange Commission by SiriusPoint Ltd., including the Company's Quarterly Report on Form 10-Q.

Point Building

Liam Blackledge - Senior Associate, Investor Relations and Strategy

3 Waterloo Lane

Tel: + 44 203 772 3082

Pembroke HM 08

Email: [email protected]

Bermuda

Website: www.siriuspt.com

SiriusPoint Ltd.

Basis of Presentation and Non-GAAP Financial Measures:

Unless the context otherwise indicates or requires, as used in this financial supplement references to "we," "our," "us," the "Company," and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclusive of its subsidiaries. We have made rounding adjustments to reach some of the figures included in this financial supplement and, unless otherwise indicated, percentages presented in this financial supplement are approximate.

In presenting SiriusPoint's results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States ("GAAP"). SiriusPoint's management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint's financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company's decision to exit the runoff business. Tangible book value per diluted common share is a non-GAAP financial measure and the most directly comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes intangible assets. Management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. Tangible book value per diluted common share is useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. Reconciliations and definitions of such measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.

Safe Harbor Statement Regarding Forward-Looking Statements:

This financial supplement includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. The Company cautions you that the forward-looking information presented in this financial supplement is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this financial supplement. In addition, forward- looking statements generally can be identified by the use of forward-looking terminology such as "believes," "intends," "seeks," "anticipates," "aims," "plans," "targets," "estimates," "expects," "assumes," "continues," "should," "could," "will," "may" and the negative of these or similar terms and phrases. Actual events, results and outcomes may differ materially from the Company's expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward- looking statements are the following: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improving underwriting performance, de-risking our investment portfolio, and transforming our business; the impact of unpredictable catastrophic events such as uncertainties with respect to COVID-19 losses across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation and interest rates, and foreign currency fluctuations; our ability to compete successfully in the insurance and reinsurance market and the effect of consolidation in the insurance and reinsurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including increased severity and frequency of weather-related natural disasters and catastrophes and increased coastal flooding in many geographic areas; geopolitical uncertainty, including the impact of the U.S. November 2024 presidential and congressional elections, and ongoing conflicts in Europe and the Middle East; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint's insurance and reinsurance subsidiaries' ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint's investment portfolio; our exposure or potential exposure to corporate income tax in Bermuda and the E.U., U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents, managing general underwriters and/or program administrators; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint's response to any acquisition proposal that may be received from any party, including any actions that may be considered by the Company's Board of Directors or any committee thereof; and other risks and factors listed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission.

Page 2 of 21

SiriusPoint Ltd.

Table of Contents

Key Performance Indicators

Key Performance Indicators

4

Consolidated Financial Statements

Consolidated Balance Sheets - by Quarter

5

Consolidated Statements of Income

6

Consolidated Statements of Income - by Quarter

7

Consolidated Statements of Comprehensive Income - by Quarter

8

Operating Segment Information

Segment Reporting - Three months ended September 30, 2024

9

Segment Reporting - Three months ended September 30, 2023

10

Segment Reporting - Nine months ended September 30, 2024

11

Segment Reporting - Nine months ended September 30, 2023

12

Consolidated Results - by Quarter

13

Core Results - by Quarter

14

Reinsurance Segment - by Quarter

15

Insurance & Services Segment - by Quarter

16

Investments

Investments - by Quarter

17

Other

Earnings per Share - by Quarter

18

Annualized Retuon Average Common Shareholders' Equity - by Quarter

19

Book Value per Share - by Quarter

20

Net Corporate and Other Expenses

21

Page 3 of 21

SiriusPoint Ltd.

Key Performance Indicators

September 30, 2024 and 2023

(expressed in millions of U.S. dollars, except per share data and ratios)

Three months ended

Nine months ended

September 30,

September 30,

September 30,

September 30,

2024

2023

2024

2023

Combined ratio

84.4 %

88.0 %

86.1 %

81.6 %

Core underwriting income (1)

$

62.5

$

42.5

$

143.7

$

213.2

Core net services income (1)

$

7.0

$

7.5

$

34.2

$

31.9

Core income (1)

$

69.5

$

50.0

$

177.9

$

245.1

Core combined ratio (1)

88.5 %

92.5 %

91.1 %

87.6 %

Accident year loss ratio (1)

61.8 %

64.0 %

61.0 %

64.3 %

Accident year combined ratio (1)

94.0 %

94.8 %

93.7 %

95.2 %

Attritional loss ratio (1)

59.8 %

62.9 %

60.0 %

63.4 %

Annualized retuon average common shareholders' equity attributable to SiriusPoint common shareholders

0.7 %

11.3 %

11.4 %

16.7 %

Book value per common share (2)

$

15.41

$

13.76

$

15.41

$

13.76

Book value per diluted common share (2)

$

14.73

$

13.35

$

14.73

$

13.35

Tangible book value per diluted common share (1) (2)

$

13.88

$

12.47

$

13.88

$

12.47

  1. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in "Segment Reporting." Accident year combined ratio, accident year loss ratio and attritional loss ratio are non-GAAP financial measures. See definitions in "Core Results by Quarter." Tangible book value per diluted common share is a non-GAAP financial measure. See reconciliation in "Book Value per Share - by Quarter."
  2. Prior year comparatives represent amounts as of December 31, 2023.

Page 4 of 21

SiriusPoint Ltd.

Consolidated Balance Sheets - by Quarter

(expressed in millions of U.S. dollars)

September 30,

June 30,

March 31,

December 31,

September 30,

Assets

2024

2024

2024

2023

2023

Debt securities, available for sale, at fair value, net of allowance for credit losses

$

5,411.8

$

5,345.3

$

5,057.5

$

4,755.4

$

4,423.3

Debt securities, trading, at fair value

233.1

307.7

406.0

534.9

616.4

Short-term investments, at fair value

52.4

97.5

329.9

371.6

548.7

Investments in related party investment funds, at fair value

114.5

106.6

105.6

105.6

109.9

Other long-term investments, at fair value

236.1

241.7

298.2

310.1

327.7

Total investments

6,047.9

6,098.8

6,197.2

6,077.6

6,026.0

Cash and cash equivalents

640.7

598.1

867.5

969.2

703.5

Restricted cash and cash equivalents

174.5

125.9

218.9

132.1

107.7

Redemption receivable from related party investment fund

-

-

-

3.0

2.4

Due from brokers

13.9

28.6

16.4

5.6

21.5

Interest and dividends receivable

49.4

50.7

44.5

42.3

41.1

Insurance and reinsurance balances receivable, net

2,069.1

2,120.2

2,127.2

1,966.3

2,057.6

Deferred acquisition costs, net

330.0

341.9

320.8

308.9

333.0

Unearned premiums ceded

467.2

496.1

494.8

449.2

464.7

Loss and loss adjustment expenses recoverable, net

2,198.7

2,191.5

2,233.8

2,295.1

2,314.2

Deferred tax asset

249.2

285.1

290.7

293.6

180.6

Intangible assets

143.8

146.8

149.8

152.7

155.6

Other assets

298.1

280.3

174.2

175.9

183.3

Total assets

$

12,682.5

$

12,764.0

$

13,135.8

$

12,871.5

$

12,591.2

Liabilities

Loss and loss adjustment expense reserves

$

5,702.1

$

5,606.0

$

5,565.3

$

5,608.1

$

5,448.8

Unearned premium reserves

1,684.0

1,769.7

1,715.7

1,627.3

1,762.8

Reinsurance balances payable

1,509.6

1,544.5

1,780.5

1,736.7

1,733.4

Deposit liabilities

20.2

22.1

128.8

134.4

135.8

Deferred gain on retroactive reinsurance

21.7

23.0

25.8

27.9

25.8

Debt

660.5

648.6

770.6

786.2

763.5

Due to brokers

23.1

40.2

60.7

6.2

39.1

Deferred tax liability

38.9

56.1

48.9

68.7

81.2

Liability-classified capital instruments

58.4

72.6

83.2

67.3

62.0

Accounts payable, accrued expenses and other liabilities

267.5

275.7

335.9

278.1

273.4

Total liabilities

9,986.0

10,058.5

10,515.4

10,340.9

10,325.8

Commitments and contingent liabilities

Shareholders' equity

Series B preference shares

200.0

200.0

200.0

200.0

200.0

Common shares

16.2

17.1

17.0

16.8

16.5

Additional paid-in capital

1,591.0

1,713.3

1,711.2

1,693.0

1,661.4

Retained earnings

806.2

801.7

691.8

601.0

507.5

Accumulated other comprehensive income (loss), net of tax

81.5

(28.0)

(17.4)

3.1

(135.4)

Shareholders' equity attributable to SiriusPoint shareholders

2,694.9

2,704.1

2,602.6

2,513.9

2,250.0

Noncontrolling interests

1.6

1.4

17.8

16.7

15.4

Total shareholders' equity

2,696.5

2,705.5

2,620.4

2,530.6

2,265.4

Total liabilities, noncontrolling interests and shareholders' equity

$

12,682.5

$

12,764.0

$

13,135.8

$

12,871.5

$

12,591.2

Page 5 of 21

SiriusPoint Ltd.

Consolidated Statements of Income

(expressed in millions of U.S. dollars, except share and per share data)

Three months ended

Nine months ended

September 30,

September 30,

September 30,

September 30,

2024

2023

2024

2023

Revenues

Net premiums earned

$

568.9

$

613.0

$

1,753.2

$

1,848.2

Net investment income

77.7

75.1

234.7

205.3

Net realized and unrealized investment gains (losses)

6.9

(7.1)

(48.0)

2.4

Net realized and unrealized investment gains from related party investment funds

7.9

0.1

8.9

-

Net investment income and net realized and unrealized investment gains (losses)

92.5

68.1

195.6

207.7

Other revenues

18.1

21.8

164.8

80.0

Loss on settlement and change in fair value of liability-classified capital instruments

(117.3)

(0.3)

(122.6)

(44.4)

Total revenues

562.2

702.6

1,991.0

2,091.5

Expenses

Loss and loss adjustment expenses incurred, net

317.5

373.1

999.4

1,015.9

Acquisition costs, net

117.5

129.5

382.3

361.0

Other underwriting expenses

44.9

36.6

127.8

132.1

Net corporate and other expenses

51.4

63.4

174.0

193.7

Intangible asset amortization

3.0

2.9

8.9

8.2

Interest expense

13.8

19.8

50.0

44.3

Foreign exchange (gains) losses

3.0

(1.8)

2.9

15.7

Total expenses

551.1

623.5

1,745.3

1,770.9

Income before income tax expense

11.1

79.1

245.7

320.6

Income tax expense

(2.4)

(15.3)

(26.3)

(56.6)

Net income

8.7

63.8

219.4

264.0

Net income attributable to noncontrolling interests

(0.2)

(2.3)

(2.2)

(6.7)

Net income available to SiriusPoint

8.5

61.5

217.2

257.3

Dividends on Series B preference shares

(4.0)

(4.0)

(12.0)

(12.0)

Net income available to SiriusPoint common shareholders

$

4.5

$

57.5

$

205.2

$

245.3

Earnings per share available to SiriusPoint common shareholders

Basic earnings per share available to SiriusPoint common shareholders (1)

$

0.03

$

0.33

$

1.15

$

1.40

Diluted earnings per share available to SiriusPoint common shareholders (1)

$

0.03

$

0.32

$

1.11

$

1.36

Weighted average number of common shares used in the determination of earnings per share

Basic

165,659,401

163,738,528

168,275,970

162,233,695

Diluted

172,803,298

168,516,508

174,261,326

166,920,744

  1. Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options and unvested restricted shares. Diluted earnings per share is based on the weighted average number of common shares and participating securities outstanding and includes any dilutive effects of warrants, options and unvested restricted shares under share plans and are determined using the treasury stock method. U.S. GAAP requires that participating securities be treated in the same manner as outstanding shares for earnings per share calculations. The Company treats certain of its unvested restricted shares as participating securities. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 6 of 21

SiriusPoint Ltd.

Consolidated Statements of Income - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

September 30,

June 30,

March 31,

December 31,

September 30,

2024

2024

2024

2023

2023

Revenues

Net premiums earned

$

568.9

$

590.5

$

593.8

$

578.0

$

613.0

Net investment income

77.7

78.2

78.8

78.4

75.1

Net realized and unrealized investment gains (losses)

6.9

(55.9)

1.0

(12.4)

(7.1)

Net realized and unrealized investment gains (losses) from related party investment funds

7.9

1.0

-

(1.0)

0.1

Net investment income and net realized and unrealized investment gains (losses)

92.5

23.3

79.8

65.0

68.1

Other revenues

18.1

118.9

27.8

17.8

21.8

Loss on settlement and change in fair value of liability-classified capital instruments

(117.3)

10.6

(15.9)

(15.0)

(0.3)

Total revenues

562.2

743.3

685.5

645.8

702.6

Expenses

Loss and loss adjustment expenses incurred, net

317.5

364.4

317.5

365.4

373.1

Acquisition costs, net

117.5

119.9

144.9

111.7

129.5

Other underwriting expenses

44.9

41.1

41.8

64.2

36.6

Net corporate and other expenses

51.4

66.6

56.0

64.5

63.4

Intangible asset amortization

3.0

3.0

2.9

2.9

2.9

Interest expense

13.8

15.7

20.5

19.8

19.8

Foreign exchange (gains) losses

3.0

3.6

(3.7)

19.2

(1.8)

Total expenses

551.1

614.3

579.9

647.7

623.5

Income (loss) before income tax (expense) benefit

11.1

129.0

105.6

(1.9)

79.1

Income tax (expense) benefit

(2.4)

(14.2)

(9.7)

101.6

(15.3)

Net income

8.7

114.8

95.9

99.7

63.8

Net income attributable to noncontrolling interests

(0.2)

(0.9)

(1.1)

(2.2)

(2.3)

Net income available to SiriusPoint

8.5

113.9

94.8

97.5

61.5

Dividends on Series B preference shares

(4.0)

(4.0)

(4.0)

(4.0)

(4.0)

Net income available to SiriusPoint common shareholders

$

4.5

$

109.9

$

90.8

$

93.5

$

57.5

Earnings per share available to SiriusPoint common shareholders

Basic earnings per share available to SiriusPoint common shareholders (1)

$

0.03

$

0.60

$

0.50

$

0.52

$

0.33

Diluted earnings per share available to SiriusPoint common shareholders (1)

$

0.03

$

0.57

$

0.49

$

0.50

$

0.32

Weighted average number of common shares used in the determination of earnings per share

Basic

165,659,401

170,173,022

168,934,114

166,640,624

163,738,528

Diluted

172,803,298

178,711,254

174,380,963

173,609,940

168,516,508

  1. Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares and preference shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 7 of 21

SiriusPoint Ltd.

Consolidated Statements of Comprehensive Income - by Quarter

(expressed in millions of U.S. dollars)

September 30,

June 30,

March 31,

December 31,

September 30,

2024

2024

2024

2023

2023

Comprehensive income

Net income

$

8.7

$

114.8

$

95.9

$

99.7

$

63.8

Other comprehensive income (loss), net of tax

Change in foreign currency translation adjustment

0.4

(0.1)

(1.8)

1.0

(1.1)

Unrealized gains (losses) from debt securities held as available for sale investments

112.2

(3.4)

(18.4)

128.8

(56.2)

Reclassifications from accumulated other comprehensive income (loss)

(3.1)

(7.1)

(0.3)

8.7

(2.2)

Total other comprehensive income (loss)

109.5

(10.6)

(20.5)

138.5

(59.5)

Comprehensive income

118.2

104.2

75.4

238.2

4.3

Net income attributable to noncontrolling interests

(0.2)

(0.9)

(1.1)

(2.2)

(2.3)

Comprehensive income available to SiriusPoint

$

118.0

$

103.3

$

74.3

$

236.0

$

2.0

Page 8 of 21

SiriusPoint Ltd.

Segment Reporting - Three months ended September 30, 2024

(expressed in millions of U.S. dollars, except ratios)

Insurance &

Eliminations

Segment

Measure

Reinsurance

Services

Core

(2)

Corporate

Reclass

Total

Gross premiums written

$

314.5

$

376.0

$

690.5

$

-

$

23.5

$

-

$

714.0

Net premiums written

268.3

235.3

503.6

-

0.6

-

504.2

Net premiums earned

269.4

276.9

546.3

-

22.6

-

568.9

Loss and loss adjustment expenses incurred, net

137.6

170.1

307.7

(1.4)

11.2

-

317.5

Acquisition costs, net

69.8

65.9

135.7

(24.1)

5.9

-

117.5

Other underwriting expenses

20.4

20.0

40.4

-

4.5

-

44.9

Underwriting income

41.6

20.9

62.5

25.5

1.0

-

89.0

Services revenues

-

48.1

48.1

(29.9)

-

(18.2)

-

Services expenses

-

41.3

41.3

-

-

(41.3)

-

Net services fee income

-

6.8

6.8

(29.9)

-

23.1

-

Services noncontrolling loss

-

0.2

0.2

-

-

(0.2)

-

Net services income

-

7.0

7.0

(29.9)

-

22.9

-

Segment income

41.6

27.9

69.5

(4.4)

1.0

22.9

89.0

Net investment income

77.7

-

77.7

Net realized and unrealized investment gains

6.9

-

6.9

Net realized and unrealized investment gains from related party investment funds

7.9

-

7.9

Other revenues

(0.1)

18.2

18.1

Loss on settlement and change in fair value of liability-classified capital instruments

(117.3)

-

(117.3)

Net corporate and other expenses

(10.1)

(41.3)

(51.4)

Intangible asset amortization

(3.0)

-

(3.0)

Interest expense

(13.8)

-

(13.8)

Foreign exchange losses

(3.0)

-

(3.0)

Income (loss) before income tax expense

$

41.6

$

27.9

69.5

(4.4)

(53.8)

(0.2)

11.1

Income tax expense

-

-

(2.4)

-

(2.4)

Net income (loss)

69.5

(4.4)

(56.2)

(0.2)

8.7

Net (income) loss attributable to noncontrolling interest

-

-

(0.4)

0.2

(0.2)

Net income (loss) available to SiriusPoint

$

69.5

$

(4.4)

$

(56.6)

$

-

$

8.5

Underwriting Ratios: (1)

Loss ratio

51.1 %

61.4 %

56.3 %

55.8 %

Acquisition cost ratio

25.9 %

23.8 %

24.8 %

20.7 %

Other underwriting expenses ratio

7.6 %

7.2 %

7.4 %

7.9 %

Combined ratio

84.6 %

92.4 %

88.5 %

84.4 %

  1. Underwriting ratios are calculated by dividing the related expense by net premiums earned.
  2. Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

Page 9 of 21

SiriusPoint Ltd.

Segment Reporting - Three months ended September 30, 2023

(expressed in millions of U.S. dollars, except ratios)

Insurance &

Eliminations

Segment

Measure

Reinsurance

Services

Core

(2)

Corporate

Reclass

Total

Gross premiums written

$

265.4

$

460.1

$

725.5

$

-

$

33.3

$

-

$

758.8

Net premiums written

243.2

290.4

533.6

-

32.4

-

566.0

Net premiums earned

256.9

318.4

575.3

-

37.7

-

613.0

Loss and loss adjustment expenses incurred, net

136.2

219.6

355.8

(1.2)

18.5

-

373.1

Acquisition costs, net

69.4

76.3

145.7

(37.2)

21.0

-

129.5

Other underwriting expenses

14.4

16.9

31.3

-

5.3

-

36.6

Underwriting income (loss)

36.9

5.6

42.5

38.4

(7.1)

-

73.8

Services revenues

(0.2)

58.8

58.6

(38.3)

-

(20.3)

-

Services expenses

-

48.7

48.7

-

-

(48.7)

-

Net services fee income (loss)

(0.2)

10.1

9.9

(38.3)

-

28.4

-

Services noncontrolling income

-

(2.4)

(2.4)

-

-

2.4

-

Net services income (loss)

(0.2)

7.7

7.5

(38.3)

-

30.8

-

Segment income (loss)

36.7

13.3

50.0

0.1

(7.1)

30.8

73.8

Net investment income

75.1

-

75.1

Net realized and unrealized investment losses

(7.1)

-

(7.1)

Net realized and unrealized investment gains from related party investment funds

0.1

-

0.1

Other revenues

1.5

20.3

21.8

Loss on settlement and change in fair value of liability-classified capital instruments

(0.3)

-

(0.3)

Net corporate and other expenses

(14.7)

(48.7)

(63.4)

Intangible asset amortization

(2.9)

-

(2.9)

Interest expense

(19.8)

-

(19.8)

Foreign exchange gains

1.8

-

1.8

Income before income tax expense

$

36.7

$

13.3

50.0

0.1

26.6

2.4

79.1

Income tax expense

-

-

(15.3)

-

(15.3)

Net income

50.0

0.1

11.3

2.4

63.8

Net (income) loss attributable to noncontrolling interest

-

-

0.1

(2.4)

(2.3)

Net income available to SiriusPoint

$

50.0

$

0.1

$

11.4

$

-

$

61.5

Underwriting Ratios: (1)

Loss ratio

53.0 %

69.0 %

61.8 %

60.9 %

Acquisition cost ratio

27.0 %

24.0 %

25.3 %

21.1 %

Other underwriting expenses ratio

5.6 %

5.3 %

5.4 %

6.0 %

Combined ratio

85.6 %

98.3 %

92.5 %

88.0 %

  1. Underwriting ratios are calculated by dividing the related expense by net premiums earned.
  2. Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

Page 10 of 21

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Disclaimer

SiriusPoint Ltd. published this content on November 11, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 11, 2024 at 07:15:54.410.

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