SiriusPoint Ltd. reported net income available to common shareholders of $444 million for full-year 2025, as consolidated underwriting income increased to $302.8 million from $276.4 million in 2024.
The improvement in underwriting performance was primarily driven by premium growth and a stronger attritional loss ratio, partially offset by lower favourable prior-year reserve development and higher catastrophe losses.

Premium growth accelerates
Gross written premiums (GWP) rose by $512.1 million, or 16.1%, to $3.688 billion in 2025, up from $3.176 billion in 2024. Net earned premiums climbed 17.8% to $2.591 billion from $2.199 billion a year earlier.
According to the company, premium growth was largely led by its Insurance & Services segment. This included expansion in Accident & Health (A&H), growth in Surety within the Other Specialties line, and continued strategic organic and new programme growth in international markets, particularly among London MGAs.

Core underwriting income reached $256.2 million in 2025, compared with $244.6 million in 2024. The 2025 result comprised underwriting income of $214.3 million, representing a 91.7% combined ratio, and net services income of $41.9 million. In 2024, underwriting income stood at $200 million (91% combined ratio), with net services income of $44.6 million.

Favourable prior-year reserve development totalled $72.2 million in 2025, mainly within Property, reflecting reserve releases tied to prior-year catastrophe events, as well as lower-than-expected reported losses in A&H. This compares with $100.7 million in favourable development during 2024.
Catastrophe losses rose to $74.4 million in 2025, equating to 2.9 percentage points on the combined ratio, largely driven by the California wildfires. In 2024, catastrophe losses were $54.8 million, or 2.5 percentage points on the combined ratio.

Reinsurance segment results
Within the reinsurance segment, GWP increased 2.9% to $1.375 billion in 2025. Growth was driven by new business and organic expansion in London and New York Casualty, Credit within Other Specialties, and New York Property. This was partially offset by declines in Bermuda Property, reflecting rate reductions and growth moderation, and in Aviation.
The reinsurance segment generated underwriting income of $90.5 million in 2025, representing a 91.8% combined ratio, compared to $124.8 million and an 88.0% combined ratio in 2024. The decline in underwriting income was mainly attributed to higher catastrophe losses and reduced favourable prior-year reserve development.

Strong fourth quarter
For the fourth quarter of 2025, SiriusPoint posted net income available to common shareholders of $240 million. The company delivered an annualised return on equity of 44.9% and an operating return on equity of 17.1% during the quarter. Gross and net written premiums grew by 18% year-on-year, while the core combined ratio stood at 92.9%.

Scott Egan, Chief Executive Officer of SiriusPoint, commented, “The fourth quarter rounded out another very strong year for SiriusPoint. Our disciplined underwriting strategy, customer mindset, and relentless focus on delivery means we have a lot to be pleased about in 2025.
“We enter 2026 with great momentum and determination. We are well positioned to navigate insurance market conditions, and we look forward to continuing to execute against our targets as we move closer to our ambition to becoming a best-in-class specialty underwriter. Our performance in 2025 is another important proof point for the company.

“I want to thank my colleagues for their hard work everyday and their unwavering support. These results would not be possible without their dedication and commitment.”