SiriusPoint Ltd.
siriuspt.comWhat Do They Do?
Underwrites specialty insurance and reinsurance for insurers, businesses and governments.
10-K for FY2025, filed Feb 24, 2026SiriusPoint is a global specialty underwriter of insurance and reinsurance, headquartered in Bermuda. Our common shares are listed on the…View ↗
In our Insurance & Services segment, we underwrite primary insurance in several sectors globally. We offer insurance solutions to meet the…View ↗
In our Reinsurance segment, we provide reinsurance products to insurance and reinsurance companies, government entities, and other risk…View ↗
How Do They Make Money?
For policies written by its consolidated managing general agents, SiriusPoint earns commissions and fees when the policy takes effect; its other earnings come from underwriting results and investments.
10-K for FY2025, filed Feb 24, 2026
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10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by reportable segment (Underwriting Income (Loss)) ↗
$3.2B
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10-K for FY2025, filed Feb 24, 2026
$3.2B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Insurance & Services
|
41%
FY2022: 39%
|
Insurance & Services, FY2025
$123.8M Sources
|
|
Reinsurance
|
30%
FY2022: −80%
|
Reinsurance, FY2025
$90.5M Sources
|
Who Are Their Customers?
For primary insurance, it works through program administrators and managing general agents, which market policies to brokers and the public. Reinsurance business comes mainly through brokers representing insurers and other buyers, including governments and other entities.
10-K for FY2025, filed Feb 24, 2026For primary insurance business, we enter into agreements with select MGAs, who then market insurance products to brokers and the general…View ↗
In our Reinsurance segment, we provide reinsurance products to insurance and reinsurance companies, government entities, and other risk…View ↗
For reinsurance business, we obtain most of our business from reinsurance intermediaries (“brokers”) that represent the ceding company. The…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 14 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 24, 2026
10-K for FY2025, filed Feb 24, 2026
$459.6MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
Growing. Revenue grew 47% in 4 years, from $2.2B in FY2021 to $3.2B in FY2025, about 10% a year.
More underwriting capacity, less MGA ownership
The older report described equity stakes in MGAs and other entities; the latest says SiriusPoint no longer takes capital positions in these partners and focuses on underwriting capacity partnerships.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 24, 2026As of December 31, 2022, we had equity stakes in 36 entities (MGAs, Insurtech and Other), which underwrite or distribute a wide range of…View ↗
Distribution relationships are particularly important to us. A majority of our premium is produced via MGAs, including both our…View ↗
Portfolio shifted toward specialty and health lines
The older report set a goal of growing Insurance & Services and rebalancing the portfolio; the latest says the mix increased in Other Specialties, MGA and accident and health while Property was reduced.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 24, 20262.De-risking the investment portfolio; and 3.Re-balancing the business mix in our underwriting portfolio and growing Insurance & ServicesView ↗
Simplify the business: We exited from non-core programs, such as Cyber and Workers’ Compensation, and closed five offices to create a…View ↗
Exited Cyber and Workers’ Compensation
The older report described entities underwriting Cyber and Workers’ Compensation; the latest says SiriusPoint exited programs in both lines.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 24, 2026As of December 31, 2022, we had equity stakes in 36 entities (MGAs, Insurtech and Other), which underwrite or distribute a wide range of…View ↗
Simplify the business: We exited from non-core programs, such as Cyber and Workers’ Compensation, and closed five offices to create a…View ↗
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