SiriusPoint Q4 Profit $244M, 18% Premium Growth and $100M Buyback
SPNT posted Q4 net income of $244M ($1.97/share) on $973.7M revenue, with adjusted operating EPS of $0.70. Book value per diluted share ex-AOCI rose 9.9% to $18.10 while gross and net written premiums grew 18% and core combined ratio was 92.9%.
1. Q4 Earnings Performance
SiriusPoint reported net income of $244 million for the fourth quarter, translating to $1.97 per diluted share, and delivered adjusted operating earnings of $0.70 per share on revenue of $973.7 million.
2. Underwriting Growth and Profitability
Gross written premiums rose 18% year-over-year to $896.9 million, with net written premiums up 18% as well, supporting a core combined ratio improvement to 92.9%.
3. Capital Return and Leverage
The company announced redemption of its Series B preference shares, targeting a leverage ratio reduction to 23%, and unveiled a $100 million common share repurchase program over the next 12 months.
4. Book Value Growth and Solvency
Book value per diluted share excluding AOCI increased by $1.63 (9.9%) to $18.10, while the pre-redemption Bermuda Solvency Capital Requirement ratio stood at 247%, pro forma 232% post‐redemption.