Siriuspoint Ltd. · NYSE:SPNT
Siriuspoint — Q2 2026 Earnings Presentation
37 slides from Siriuspoint's earnings presentation, Jul 30, 2026
Slide 1: Q2 2026 Investor Presentation
Q2 2026 INVESTOR PRESENTATION July 29, 2026 NYSE: SPNT
Slide 2: Disclaimer
DISCLAIMER 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 comb
Slide 3: Agenda
AGENDA Highlights & Strategic Update Scott Egan, Group CEO Second Quarter & Half Year Financial Results Jim McKinney, Group CFO Q&A 3
Slide 4: Highlights & Strategic Update
Highlights & Strategic Update
Slide 5: SiriusPoint Overview
SIRIUSPOINT OVERVIEW Drive excellence as a best-in-class specialty underwriter, with a diverse and low-volatility portfolio, that targets a 12-15% ROE across the cycle Property Cat Re Marine & Energy Aviation 5% 4% Accident & Health Relentless Focus on Underwriting 6% 27% Surety 6% Gross Written Dis
Slide 6: Positioned for Durable Performance Across the Cycle
POSITIONED FOR DURABLE PERFORMANCE ACROSS THE CYCLE Q2 2026 Targeted portfolio management and underwriting discipline drove a 91.4% Core Combined Ratio in Q2'26 and 90.1% for HY 26 HIGHLIGHTS Strong Q2'26 Insurance & Services GWP growth of 15%, with continued discipline in Reinsurance as premiums de
Slide 7: Track Record of Attractive Earnings and Value Creation
TRACK RECORD OF ATTRACTIVE EARNINGS AND VALUE CREATION $ numbers in USD millions, except per share data Long-Term Value Framework $107.9 $94.3 Target niche and growing markets $87.3 $84.5 $85.2 $85.8 $85.7 $78.1 $79.4 $74.7 $70.2 Operating $57.8 $61.0 Net Income1 $36.6 $43.5 Act nimbly, actively man
Slide 8: Insurance Growth While Retaining Underwriting Discipline
INSURANCE GROWTH WHILE RETAINING UNDERWRITING DISCIPLINE Trailing Last Twelve Months Premium Growth1 Core Combined Ratio (ex. LPT Benefit2) 95.6% 92.9% 93.8% 93.5% 92.9% 91.7% 91.4% 90.3% 10.9% 89.5% 89.1% 93.8% 88.9% 88.9% 91.7% 91.7% 92.5% 91.9% 6.6% 91.2% 89.6% 89.1% 87.0% 88.1% 83.7% 84.7% 26% 2
Slide 9: Consistent and Strong Core Business
CONSISTENT AND STRONG CORE BUSINESS Core Operating Return on Equity1 Key Comments FY 24 FY 25 HY 26 15.4% 17.3% 16.2% – Core Operating ROE excludes the run off result from Operating 19.1% 18.7% ROE, to show the performance of 18.0% 17.9% the go-forward business 16.8% – HY 26 Core Operating ROE1 of 1
Slide 10: Highly Diversified Core Portfolio
HIGHLY DIVERSIFIED CORE PORTFOLIO Core Portfolio Premium Splits1 4+ Years Reinsurance 29% 35% Property Cat Re 43% <2 Years Market Marine & Energy Reserve Access Duration 65% Aviation 4% Accident & Health 5% Insurance 6% 28% & Services 27% Surety 6% 2-4 Years Gross Written Credit 6% Premium Europe &
Slide 11: Active Portfolio Management to Maximize Core Returns
ACTIVE PORTFOLIO MANAGEMENT TO MAXIMIZE CORE RETURNS Accident & Health General Liability Other Property FinPro Other Casualty Europe & Europe & Europe & Bermuda Bermuda Other Bermuda Other UK & Lloyd's Other USA UK & Lloyd's Bermuda GWP GWP GWP USA GWP GWP UK & UK & $1.0bn $789m Lloyd's $392m $287m
Slide 12: Profitable and Low Volatility Underwriting Portfolio
PROFITABLE AND LOW VOLATILITY UNDERWRITING PORTFOLIO 2 Year Combined Ratio Volatility Quadrant1 2 Year Combined Ratio Volatility1 20.0% High Profitability, High Volatility Low Profitability, High Volatility 11.1% 17.5% SiriusPoint (2020-2022) 15.0% 5.1% 3.2% 2.6% 12.5% Combined Ratio Volatility 10.0
Slide 13: Rigorous Approach to Partnering with MGAs
RIGOROUS APPROACH TO PARTNERING WITH MGAs THOROUGH ONBOARDING PROCESS CONSERVATIVE INITIAL APPROACH Disciplined approach to MGA >90% Prudent approach to reserving 100% and risk management for new new programs reserved partner selection new opportunities declined programs above pricing projections In
Slide 14: Our Best in Class Culture Is Key to Our Success
OUR BEST IN CLASS CULTURE IS KEY TO OUR SUCCESS Employee Net Promoter Score1 Employee Engagement3 Leadership5 Alignment5 "Would you recommend working at SiriusPoint to a friend?" +40 89 +2 88 = Exceptional >30 +29 Industry 82 83 Collaboration5 Development5 Benchmark +162 +13 80 Industry Benchmark 78
Slide 15: SiriusPoint Forward Outlook
SIRIUSPOINT FORWARD OUTLOOK Strong underwriting culture with compensation aligned to shareholder value creation Agile capital allocator Seasoned management team with proven ability to move with demonstrated track and optimize capital record of execution Disciplined profitable growth Low volatility u
Slide 16: Second Quarter and Half Year Results Update
Second Quarter and Half Year Results Update
Slide 17: Q2 2026 Financial Results
Q2 2026 FINANCIAL RESULTS Financial Highlights Key Comments $ numbers in USD millions Q2'25 Q2'26 – GWP1 up 6%, with NWP1 increasing by 1% and NEP1 down 1% Gross Written Premium $930 $982 – COR of 91.4%1 and UW income of $55m – Diluted EPS of $0.58, or $0.67 on an operating basis3 Net Written Premiu
Slide 18: HY 2026 Financial Results
HY 2026 FINANCIAL RESULTS Financial Highlights Key Comments $ numbers in USD millions HY 25 HY 26 – GWP1 up 3%, with NWP1 decreasing by 3% (driven by one-off Gross Written Premium $1,920 $1,985 items including pre-announced aggregate cover) and NEP1 flat – UW Income1 up 31% Net Written Premium $1,45
Slide 19: Segment Results
SEGMENT RESULTS $ numbers in USD millions Insurances & Services Segment Reinsurance Segment Gross Written Premium Gross Written Premium – Premium – Premium +15% $645 +11% Gross written premium increased 15% for $370 (9)% (9)% Gross written premium decreased 9% for $1,329 $725 $560 $1,196 the quarter
Slide 20: Reserving Prudence Demonstrated by PYD Track Record
RESERVING PRUDENCE DEMONSTRATED BY PYD TRACK RECORD $ numbers in USD millions Reserve Releases as % of Opening Net Reserves1 Key Comments 4.5% – Twenty-one consecutive quarters of favorable prior year development 3.3% – Full quarterly reserve review completed by actuarial team 2.2% 2.9% – New busine
Slide 21: High Quality Investment Portfolio
HIGH QUALITY INVESTMENT PORTFOLIO $ numbers in USD millions Investment Result Investment Balances by Asset Class Credit Quality3 TPE1 Other2 Not Rated / Below IG $151 CLO AAA $139 $140 $132 BBB 4% 1% ABS 5% 14% 16% Corporate 8% 36% 12% Q2'26 Cash $6.3bn 28% HY 25 HY 26 A 14% 40% AA Net Investment In
Slide 22: Strong Financial Strength and Capital Position
STRONG FINANCIAL STRENGTH AND CAPITAL POSITION $ numbers in USD millions BSCR Ratio Walk1 Financial Strength Ratings (FSR) $2.3bn Equity Capital A 2% RATING A 242% RATING UPGRADED UPGRADED (1)% (4)% 239% (STABLE) 4/16/26 (STABLE) 4/21/26 $0.7bn Debt Capital 219% A $3.0bn (20)% RATING UPGRADED A3 REV
Slide 23: Leverage Decreased While Liquidity Has Increased
LEVERAGE DECREASED WHILE LIQUIDITY HAS INCREASED $ numbers in USD millions Leverage1 Liquidity Debt / Capital Debt + Preferred / Capital Available dividend capacity from subsidiaries and HoldCo Investments 2 Revolving Credit Facility undrawn capacity 34.2% $1,112 32.5% $1,061 29.7% 28.1% 27.2% $682
Slide 24: Appendix A: Supplementary Slides
Appendix A: Supplementary Slides
Slide 25: Platform Reshaping Enabling Profitable Growth
APPENDIX A1 PLATFORM RESHAPING ENABLING PROFITABLE GROWTH 2025 Onwards: Profitable Growth Outperformed across the cycle Operating ROE target of 12-15% in FY 25 and HY 26 2024: Major Reshaping Fifteen consecutive quarters of UW profit LPTs covering $2.1bn of reserves from Track record of strong growt
Slide 26: Global Accident & Health
APPENDIX A2 GLOBAL ACCIDENT & HEALTH Accident & Health Portfolio Overview Investing in IMG's Distribution and Services SiriusPoint GWP Accident & Health GWP 4% 7% + + 24% IMG 8% Health/Medical LTM LTM Life 73% GWP 27% 12% GWP $3.8bn $1.0bn Personal Accident – IMG is a 100%-owned A&H MGA that is a co
Slide 27: Strategic MGA Investments
APPENDIX A3 STRATEGIC MGA INVESTMENTS Consolidated MGA Investments Non-Consolidated MGA Investments $262m $204m 100%-owned A&H 75%-owned Specialty $ numbers in USD millions Core (Go-Forward MGAs) Q2'26 Change HY 26 Change $105m $102m Service Revenue $59 16% $113 21% $63m Net Services Fee Income $10
Slide 28: Run Off (Non-Core) Portfolio
APPENDIX A4 RUN OFF (NON-CORE) PORTFOLIO $ numbers in USD millions Run off (Non-Core) Underwriting Performance Run off (Non-Core) Portfolio Reserves $11 30% 28% 26% 24% 19% 17% 16% 14% 13% 12% 12% $1 $1,008 % of $942 $885 Total $(4) $(4) $854 Reserves $(7) $(7) $(10) $(10) $638 $(19) $574 $556 $528
Slide 29: Deliberate Actions Have Reduced Catastrophe Volatility
APPENDIX A5 DELIBERATE ACTIONS HAVE REDUCED CATASTROPHE VOLATILITY FY 21 FY 22 FY 23 FY 24 FY 25 Q1'26 Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Catastrophe Loss Ratio Company A 33.6% Company A 25.3% Company A 11.7% Company A 2
Slide 30: Abbreviation Glossary
APPENDIX A5 ABBREVIATION GLOSSARY 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 BVP
Slide 31: Appendix B: Non-GAAP Reconciliations
Appendix B: Non-GAAP Reconciliations
Slide 32: Reconciliation of Quarterly Operating Net Income
APPENDIX B1 RECONCILIATION OF QUARTERLY OPERATING NET INCOME 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 $ 68.6 $ 99.6 $ 240.0 $ 86.8 $ 59.2 $ 57.6 $ (21.3) $ 4.5 $ 109.9 $ 90.8 $ 93.5 $ 57.5
Slide 33: Reconciliation of Quarterly Core Operating Net Income
APPENDIX B2 RECONCILIATION OF QUARTERLY CORE OPERATING NET INCOME 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 $ 79.4 $ 85.7 $ 85.8 $ 85.2 $ 78.1 $ 61.0 $ 43.5 $ 94.3 $ 57.8 $ 107.9 Run off (non-core) underwriting resul
Slide 34: Reconciliation of Quarterly Operating ROE and Core Operating ROE
APPENDIX B3 RECONCILIATION OF QUARTERLY OPERATING RETURN ON EQUITY AND CORE OPERATING RETURN ON EQUITY Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Operating net income $ 79.4 $ 85.7 $ 85.8 $ 85.2 $ 78.1 $ 61.0 $ 43.5 $ 94.3 $ 57.8 $ 107.9 Common shareholders’ equity attributable to S
Slide 35: Reconciliation of Operating Return on Equity
APPENDIX B4 RECONCILIATION OF OPERATING RETURN ON EQUITY HY 26 HY 25 Net income available to SiriusPoint common shareholders $ 168.2 $ 116.8 Non-recurring adjustments: Gains on sale or deconsolidation of consolidated MGAs (25.2) — (Gains) losses on strategic and other investments 8.0 0.5 MGA & strat
Slide 36: Reconciliation of Core Operating Return on Equity
APPENDIX B5 RECONCILIATION OF CORE OPERATING RETURN ON EQUITY HY 26 HY 25 FY 25 FY 24 Operating net income available to SiriusPoint common shareholders $ 165.1 $ 139.1 $ 310.0 $ 303.5 Run off (non-core) underwriting results 22.8 11.5 28.4 50.5 Adjustment for previously excluded amounts relating to r
Slide 37: investors.siriuspt.com
investors.siriuspt.com