0001576018-26-000064
SEC filingSiriusPoint reported Q1 2026 net income of $99.6M available to common shareholders, with a core combined ratio of 88.9% and operating ROE of 15.3%.
SiriusPoint delivered a strong first quarter in 2026, with net income available to common shareholders of $99.6 million ($0.82 per diluted share) compared to $57.6 million ($0.49 per diluted share) in the same period last year. The improvement was driven by a sharp reduction in catastrophe losses—from $67.9 million in Q1 2025 to just $5.4 million in Q1 2026—and a lower attritional loss ratio. Core underwriting income more than doubled to $70.9 million, and the core combined ratio improved 6.5 points to 88.9%. Insurance & Services gross written premium grew 8% year-over-year, led by Accident & Health, General Liability, and Surety, while Reinsurance premiums declined 10% as management exercised discipline in softening market conditions. Net investment income decreased slightly to $66.4 million due to lower yields, but net investment gains swung to $11.4 million from a loss of $0.3 million, primarily from private equity funds. Operating net income rose to $85.7 million from $61.0 million, and operating earnings per share increased 37% to $0.70. The company returned $242 million to shareholders year-to-date, including $42 million in share repurchases, and increased its 2026 buyback authorization by $74 million to a total of $174 million. Book value per diluted share excluding AOCI grew 5% to $18.98. Management highlighted the ratings upgrades to 'A' by S&P, AM Best, and Fitch in the last three months, reflecting the company's financial strength and consistent execution. CEO Scott Egan noted the company is positioned well to deliver sustained strong performance, with a focus on growth in Insurance and disciplined underwriting in Reinsurance.