SiriusPoint Ltd. has reported its second-quarter 2025 results, showcasing improvement in key financial metrics compared to the prior year. The company's core combined ratio for the quarter improved by 3.8 points to 89.5%, contributing to a half-year core combined ratio of 92.4%. Underwriting income saw substantial growth, increasing by 83% year over year to $68 million for the core business. Additionally, the company achieved strong gross premiums written growth of 10% for the core business, marking the fifth consecutive quarter of double-digit growth.
The return on equity for the quarter stood at 12.7%, with an underlying return on equity of 17.0%, contributing to a half-year 2025 underlying return on equity of 15.4%, which exceeds the company's 12-15% target range. Furthermore, diluted earnings per common share reached $0.50, with underlying earnings per share of $0.66, representing a 120% increase from the prior year.
The company's book value per diluted common share (ex. aoci) increased by 3.2% in the quarter to $15.64, and the balance sheet remains strong with a Q2’25 BSCR estimate at 223%.
In terms of net income attributable to SiriusPoint common shareholders, the company reported $59.2 million for the quarter, or $0.50 per diluted common share, and $116.8 million for the half-year, or $0.98 per diluted common share.
A breakdown of key financial metrics for the three and six months ended June 30, 2025, and 2024, reveals notable improvements across various areas. The combined ratio decreased from 89.0% in June 2024 to 86.1% in June 2025. Core underwriting income increased from $36.9 million to $67.6 million for the same periods, and core net services income also saw a slight increase from $9.1 million to $8.7 million. The core income surged from $46.0 million to $76.3 million, and the core combined ratio improved from 93.3% to 89.5%.
The improvement in financial performance is attributed to factors such as decreased catastrophe losses, increased favorable loss reserve development, and strong premium growth within the insurance & services segment. The company's strategic underwriting approach and consistent growth trajectory are highlighted as key drivers of its performance.
The press release also provides detailed breakdowns of the performance of SiriusPoint's reportable segments * insurance & services and reinsurance. Both segments contributed to the company's core results, with insurance & services witnessing significant growth in gross premiums written and segment income.
As a result of these announcements, the company's shares have moved -5.16% on the market, and are now trading at a price of $18.57. If you want to know more, read the company's complete 8-K report here.
