8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): May 3, 2023 (May 3, 2023)

 SIRIUSPOINT LTD.

(Exact name of registrant as specified in its charter)

Bermuda	001-36052	98-1599372
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

Point Building

3 Waterloo Lane

Pembroke HM 08 Bermuda

(Address of principal executive offices and Zip Code)

Registrant’s telephone number, including area code: +1 441 542-3300

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Shares, $0.10 par value	SPNT	New York Stock Exchange
8.00% Resettable Fixed Rate Preference Shares,  Series B, $0.10 par value, $25.00 liquidation preference per share	SPNT PB	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02 Results of Operations and Financial Condition.

On May 3, 2023, SiriusPoint Ltd. issued a press release reporting its financial results for the first quarter ended March 31, 2023 attached hereto as Exhibit 99.1.

The information contained in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished pursuant to this Item 2.02. This information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, or incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

On May 3, 2023, SiriusPoint Ltd. made available to investors its first quarter financial supplement attached hereto as Exhibit 99.2, and slide presentation attached hereto as Exhibit 99.3 by SiriusPoint Ltd. in presentations to investors.

The information contained in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 and Exhibit 99.3 attached hereto, are being furnished pursuant to this Item 7.01. This information shall not deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section, or incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 8.01    Other Events.

On May 3, 2023, the Board of Directors of SiriusPoint Ltd. approved a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share payable on May 31, 2023 to Series B shareholders of record as of May 15, 2023. A copy of the press release is attached hereto as Exhibit 99.4.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated May 3, 2023, announcing the earnings of SiriusPoint Ltd. for the First Quarter Ended March 31, 2023.
99.2	First Quarter Ended March 31, 2023 Financial Supplement.
99.3	SiriusPoint Ltd. Presentation to Investors, dated May 3, 2023.
99.4	Press Release dated May 3, 2023, announcing the quarterly dividend on the 8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 3, 2023	/s/ Scott Egan
	Name:	Scott Egan
	Title:	Chief Executive Officer

EX-99.1

SiriusPoint reports 80.5% Combined ratio for its Core operations at Q1’23 with Net Income up $358m year on year

HAMILTON, Bermuda, May 3, 2023 - SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) today announced results for its first quarter ended March 31, 2023.

•9% growth in book value per diluted common share, capital generation across all business areas, improving asset and financial leverage and strong balance sheet and capital positions are the key highlights of the first quarter

•Continued execution against our strategic priorities with the aim of creating a high performing specialist underwriter with focused, complementary MGA investments

•Targeting double-digit return on average common equity in 2023 with approximately $150m of capital release, at the closing, linked to the Loss Portfolio Transfer providing more capital flexibility

Scott Egan, Chief Executive Officer, said: “We are pleased with the first quarter results. We have delivered positive capital generation across all business areas with our Underwriting business delivering a Core combined ratio of 80.5%. This quarter delivers the first positive net income since Q2’21 while our book value per diluted common share has increased by 9% during the quarter.

We have a strong balance sheet made stronger following the Loss Portfolio Transfer (LPT) of $1.3 billion we previously announced. The LPT transaction will align our balance sheet with our go forward strategy. We expect capital benefits in excess of $150 million at the closing and have released $102 million of reserves linked to the LPT. We expect the transaction to close in June subject to regulatory approval and other closing conditions.

Our people have been working incredibly hard to improve the business and we continue to make progress in creating ‘One SiriusPoint.’ Our efforts are getting noticed. In late March, Fitch revised its outlook from Negative to Stable and reaffirmed its ratings, and, recently AM Best has reaffirmed our Stable ratings and outlook. We still have much to do and are excited about the opportunities ahead.

Today, I am also delighted to announce that Bronek Masojada is joining the SiriusPoint Board of Directors as an Independent Director. This appointment further strengthens our Board. Bronek is highly respected in the insurance industry with a 30 year track record, most recently serving as Chief Executive Officer of Hiscox Group.

We have a clear path for delivery for the rest of the year with an ambition to keep improving. We look forward to sharing updates on our progress during 2023.”

First Quarter 2023 Highlights

•Net income available to SiriusPoint common shareholders of $139 million, or $0.78 per diluted common share

•Combined ratio of 73.8%, underwriting income of $157 million

•Core income of $120 million, which includes underwriting income of $107 million, Core combined ratio of 80.5%, and Core net services income of $13 million

•Net investment income of $62 million and total investment result of $74 million

•Tangible book value per diluted common share increased $0.98, or 9.4%, from December 31, 2022 to $11.41 per share

•Annualized return on average common equity of 28.3%

•Asset duration increased to 2.1 years, from 1.8 years at December 31, 2022

Key Financial Metrics

The following table shows certain key financial metrics for the three months ended March 31, 2023 and 2022:

	2023			2022
	($ in millions, except for per share data and ratios)
Combined ratio	73.8		%	93.7		%
Core underwriting income (1)	$	107.4		$	12.7
Core net services income (1)	$	12.8		$	14.0
Core income (1)	$	120.2		$	26.7
Core combined ratio(1)	80.5		%	97.5		%
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders	28.3		%	(39.5)		%
Book value per common share (2)	$	12.54		$	11.56
Book value per diluted common share (2)	$	12.31		$	11.32
Tangible book value per diluted common share (1)(2)	$	11.41		$	10.43

(1)Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See definitions in “Non-GAAP Financial Measures” and reconciliations in “Segment Reporting.” Tangible book value per diluted common share is a non-GAAP financial measure. See definition and reconciliation in “Non-GAAP Financial Measures.”

(2)Prior year comparatives represent amounts as of December 31, 2022.

First Quarter 2023 Summary

Consolidated underwriting income for the three months ended March 31, 2023 was $156.5 million compared to $33.5 million for the three months ended March 31, 2022. The improvement in net underwriting results was driven by improved favorable prior year loss reserve development of $105.4 million for the three months ended March 31, 2023 compared to $5.5 million for the three months ended March 31, 2022. This increase in favorable prior year loss reserve development was primarily the result of management reflecting the continued favorable reported loss emergence through March 31, 2023 in its best estimate of reserves, which was further validated by the pricing of the 2023 LPT from external reinsurers.

Reportable Segments

The determination of our reportable segments is based on the manner in which management monitors the performance of our operations, which consist of two reportable segments - Reinsurance and Insurance & Services.

Core Underwriting Results

Collectively, the sum of our two segments, Reinsurance and Insurance & Services, constitute our “Core” results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting”. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the runoff business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

Core results for the three months ended March 31, 2023 included income of $120.2 million compared to $26.7 million for the three months ended March 31, 2022. Income for the three months ended March 31, 2023 consists of underwriting income of $107.4 million (80.5% combined ratio) and net services income of $12.8 million, compared to underwriting income of $12.7 million (97.5% combined ratio) and net services income of $14.0 million for the three months ended March 31, 2022. The improvement in underwriting income was primarily driven by increased favorable prior year loss reserve development and lower expenses. Net services income for the three months ended March 31, 2023 included net investment losses from Strategic Investments of $3.9 million compared to $0.3 million for the three months ended March 31, 2022.

Losses incurred included $91.9 million of favorable prior year loss reserve development for the three months ended March 31, 2023, compared to $5.0 million for the three months ended March 31, 2022. For the three months ended March 31, 2023, favorable prior year loss reserve development was driven by decreases in the domestic and international property and casualty lines of business in the Reinsurance segment and Accident & Health in the Insurance & Service segment. This increase in favorable prior year loss reserve development was primarily the result of management reflecting the continued favorable reported loss emergence through March 31, 2023 in its best estimate of reserves, which was further validated by the pricing of the 2023 LPT from external reinsurers.

Catastrophe losses, net of reinsurance and reinstatement premiums, for the three months ended March 31, 2023 were $7.0 million, or 1.3 percentage points on the combined ratio, compared to $6.9 million, or 1.3 percentage points on the combined ratio, for the three months ended March 31, 2022.

Reinsurance Segment

Reinsurance generated underwriting income of $79.7 million (69.3% combined ratio) for the three months ended March 31, 2023, compared to $3.1 million (99.0% combined ratio) for the three months ended March 31, 2022. The improvement in net underwriting results was due to favorable prior year loss reserve development.

Reinsurance gross premiums written were $396.2 million for the three months ended March 31, 2023, a decrease of $128.0 million compared to the three months ended March 31, 2022, driven by both the Property and Casualty lines as we execute the Restructuring Plan.

Insurance & Services Segment

Insurance & Services generated segment income of$40.3 million for the three months ended March 31, 2023, compared to $23.6 million for the three months ended March 31, 2022. Segment income for the three months ended March 31, 2023 consists of underwriting income of $27.7 million (90.4% combined ratio) and net services income of $12.6 million, compared to underwriting income of $9.6 million (95.5% combined ratio) and net services income of $14.0 million for the three months ended March 31, 2022. The improvement in underwriting results was primarily due to increased favorable prior year loss reserve development and premium growth that generated underwriting income. The decrease in services income was primarily due to net investment losses from Strategic Investments of $3.9 million for the three months ended March 31, 2023 compared to $0.3 million for the three months ended March 31, 2022.

Insurance & Services gross premiums written were $664.0 million for the three months ended March 31, 2023, an increase of $180.5 million compared to the three months ended March 31, 2022, primarily driven by growth across Insurance & Services, including growth in premiums from strategic partnerships and A&H.

Investments

Total realized and unrealized investment gains (losses) and net investment income was $73.6 million for the three months ended March 31, 2023, compared to $(205.1) million for the three months ended March 31, 2022.

Total realized and unrealized investment gains and net investment income for the three months ended March 31, 2023 was primarily attributable to net investment income on our debt and short-term investment portfolio of $72.6 million. These fixed income positions returned 1.8% in U.S. dollars and an original currency basis. These returns were driven by dividend and interest income primarily on U.S. treasury and corporate debt positions, which make up 51.5% of our total investments, compared to 26.2% of our portfolio as of March 31, 2022.

Investment results for the three months ended March 31, 2022 were primarily attributable to the net investment loss of $128.3 million from our investment in the TP Enhanced Fund, corresponding to a (15.3)% return.

SiriusPoint International Loss Portfolio Transfer

On March 2, 2023, we agreed, subject to applicable regulatory approvals and other closing conditions, to enter into a loss portfolio transfer transaction (“2023 LPT”), on a fund withheld basis, with Pallas Reinsurance Company Ltd., a subsidiary of the Compre Group, an insurance and reinsurance legacy specialist. The 2023 LPT covers approximately $1.3 billion of loss reserves as of September 30, 2022. The transaction is expected to close and incept on or around June 30, 2023. The actual ceded reserves and premium paid will be based on the aforementioned September 30, 2022 amounts, decreased by the amount of paid losses between September 30, 2022 and June 30, 2023. We expect this transaction to result in a gain upon closing, which will be deferred and amortized over the claim payout period of the subject business, and the final amount of the gain will be dependent upon factors including reserve development and claim payments through June 30, 2023. The 2023 LPT comprises several classes of business from 2021 and prior underwriting years. The aggregate limit under the 2023 LPT is 130% of the booked reserves as of the inception of the contract.

Formation of Special Committee

On April 12, 2023, Dan Loeb, one of the Company’s directors, disclosed in a Schedule 13D/A filing that he has determined to explore a potential acquisition of all or substantially all of the Company’s common shares. Mr. Loeb is the CEO and Founder of Third Point LLC.

The Board established a special committee of independent directors (the “Committee”) to review any acquisition proposal made by Mr. Loeb, if and when a proposal is received. In connection with forming the Committee, the Board agreed that it would not move forward with any transaction unless it is first approved by the Committee. There is no assurance that any definitive agreement will be executed with Mr. Loeb or any other party, or that a proposal or any other transaction will be approved or consummated.

Webcast Details

The Company will hold a webcast to discuss its first quarter 2023 results at 8:30 a.m. Eastern Time on May 4, 2023. The webcast of the conference call will be available over the Internet from the Company’s website at www.siriuspt.com under the “Investor Relations” section. Participants should follow the instructions provided on the website to download and install any necessary audio applications. The conference call will be available by dialing 1-888-347-6085 (domestic) or 1-412-317-5189 (international). Participants should ask for the SiriusPoint Ltd. first quarter 2023 earnings call.

The online replay will be available on the Company's website immediately following the call at www.siriuspt.com under the “Investor Relations” section.

Safe Harbor Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “estimates,” “expects,” “assumes,” “continues,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. Actual events, results and outcomes may differ materially from the Company’s expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improving underwriting performance, de-risking our investment portfolio, and transforming our business, including re-balancing our portfolio and growing the Insurance & Services segment; the impact of unpredictable catastrophic events including uncertainties with respect to current and future COVID-19 losses across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation, and foreign currency fluctuations; our ability to compete successfully in the (re)insurance market and the effect of consolidation in the (re)insurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including increased severity and frequency of weather-related natural disasters and catastrophes and increased coastal flooding in many geographic areas; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint’s investment portfolio; our potential exposure to U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from Daniel Loeb or any other party, including any actions that may be considered by the Company’s board of directors or any committee thereof; and other risks and factors listed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures and Other Financial Metrics

In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, and Core combined ratio are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the runoff business. Tangible book value per diluted common share is also a non-GAAP financial measure and the most comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes the total number of unvested restricted shares, at period end, and intangible assets. While restricted shares are outstanding, they are excluded because they are unvested. Further, management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. Reconciliations of such measures to the most comparable GAAP figures are included in the attached financial information in accordance with Regulation G.

About the Company

SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents within our Insurance & Services segment. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information please visit www.siriuspt.com.

Contacts

Investor Relations

Dhruv Gahlaut, Head of Investor Relations and Chief Strategy Officer

Dhruv.gahlaut@siriuspt.com

+44 7514 659 918

Media

Clare Kerrigan - Chief Communications Officer

Clare.kerrigan@siriuspt.com

+ 44 7720 163 949

SIRIUSPOINT LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of March 31, 2023 and December 31, 2022

(expressed in millions of U.S. dollars, except per share and share amounts)

	March 31, 2023		December 31, 2022
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses of $0.0 (2022 - $0.0) (cost - $3,585.9; 2022 - $2,678.1)	$	3,565.9	$	2,635.5
Debt securities, trading, at fair value (cost - $1,199.9; 2022 - $1,630.1)	1,120.2		1,526.0
Short-term investments, at fair value (cost - $595.3; 2022 - $984.5)	594.0		984.6
Investments in related party investment funds, at fair value	117.9		128.8
Other long-term investments, at fair value (cost - $372.9; 2022 - $392.0) (includes related party investments at fair value of $199.1 (2022 - $201.2))	361.9		377.2
Equity securities, trading, at fair value (cost - $1.6; 2022 - $1.8)	1.6		1.6
Total investments	5,761.5		5,653.7
Cash and cash equivalents	763.6		705.3
Restricted cash and cash equivalents	211.0		208.4
Redemption receivable from related party investment fund	11.6		18.5
Due from brokers	6.5		4.9
Interest and dividends receivable	33.5		26.7
Insurance and reinsurance balances receivable, net	2,261.0		1,876.9
Deferred acquisition costs, net	357.1		294.9
Unearned premiums ceded	462.3		348.8
Loss and loss adjustment expenses recoverable, net	1,392.0		1,376.2
Deferred tax asset	175.7		200.3
Intangible assets	161.9		163.8
Other assets	209.5		157.9
Total assets	$	11,807.2	$	11,036.3
Liabilities
Loss and loss adjustment expense reserves	$	5,318.9	$	5,268.7
Unearned premium reserves	1,833.1		1,521.1
Reinsurance balances payable	1,004.9		813.6
Deposit liabilities	141.2		140.5
Securities sold, not yet purchased, at fair value	19.4		27.0
Securities sold under an agreement to repurchase	20.3		18.0
Due to brokers	60.1		—
Accounts payable, accrued expenses and other liabilities	275.7		266.6
Deferred tax liability	59.4		59.8
Liability-classified capital instruments	47.0		60.4
Debt	779.2		778.0
Total liabilities	9,559.2		8,953.7
Commitments and contingent liabilities
Shareholders’ equity
Series B preference shares (par value $0.10; authorized and issued: 8,000,000)	200.0		200.0
Common shares (issued and outstanding: 162,367,173; 2022 - 162,177,653)	16.2		16.2
Additional paid-in capital	1,642.6		1,641.3
Retained earnings	400.8		262.2
Accumulated other comprehensive loss, net of tax	(23.0)		(45.0)
Shareholders’ equity attributable to SiriusPoint shareholders	2,236.6		2,074.7
Noncontrolling interests	11.4		7.9
Total shareholders’ equity	2,248.0		2,082.6
Total liabilities, noncontrolling interests and shareholders’ equity	$	11,807.2	$	11,036.3

SIRIUSPOINT LTD.

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED)

For the three months ended March 31, 2023 and 2022

(expressed in millions of U.S. dollars, except per share and share amounts)

	2023		2022
Revenues
Net premiums earned	$	595.5	$	529.3
Net realized and unrealized investment gains (losses)	11.3		(81.9)
Net realized and unrealized investment gains (losses) from related party investment funds	0.8		(131.0)
Net investment income	61.5		7.8
Net realized and unrealized investment gains (losses) and net investment income	73.6		(205.1)
Other revenues	15.8		37.2
Total revenues	684.9		361.4
Expenses
Loss and loss adjustment expenses incurred, net	267.1		340.1
Acquisition costs, net	119.7		108.5
Other underwriting expenses	52.2		47.2
Net corporate and other expenses	61.8		77.4
Intangible asset amortization	2.4		1.9
Interest expense	10.8		9.3
Foreign exchange (gains) losses	0.1		(19.4)
Total expenses	514.1		565.0
Income (loss) before income tax expense	170.8		(203.6)
Income tax expense	(25.8)		(9.7)
Net income (loss)	145.0		(213.3)
Net (income) loss attributable to noncontrolling interests	(2.4)		0.3
Net income (loss) available to SiriusPoint	142.6		(213.0)
Dividends on Series B preference shares	(4.0)		(4.0)
Net income (loss) available to SiriusPoint common shareholders	$	138.6	$	(217.0)
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders	$	0.80	$	(1.36)
Diluted earnings (loss) per share available to SiriusPoint common shareholders	$	0.78	$	(1.36)
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic	160,905,860		159,867,593
Diluted	164,130,946		159,867,593

SIRIUSPOINT LTD.

SEGMENT REPORTING

	Three months ended March 31, 2023
	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	396.2		$	664.0		$	1,060.2		$	—	$	50.3	$	—	$	1,110.5
Net premiums written	311.0			452.6			763.6			—		28.1		—		791.7
Net premiums earned	259.5			291.2			550.7			—		44.8		—		595.5
Loss and loss adjustment expenses incurred, net	85.6			172.5			258.1			(1.3)		10.3		—		267.1
Acquisition costs, net	66.0			71.7			137.7			(32.5)		14.5		—		119.7
Other underwriting expenses	28.2			19.3			47.5			—		4.7		—		52.2
Underwriting income	79.7			27.7			107.4			33.8		15.3		—		156.5
Services revenue	0.2			63.6			63.8			(34.3)		—		(29.5)		—
Services expenses	—			45.5			45.5			—		—		(45.5)		—
Net services fee income	0.2			18.1			18.3			(34.3)		—		16.0		—
Services noncontrolling income	—			(1.6)			(1.6)			—		—		1.6		—
Net investment losses from Strategic Investments	—			(3.9)			(3.9)			—		—		3.9		—
Net services income	0.2			12.6			12.8			(34.3)		—		21.5		—
Segment income	79.9			40.3			120.2			(0.5)		15.3		21.5		156.5
Net realized and unrealized investment gains (losses)												15.2		(3.9)		11.3
Net realized and unrealized investment gains from related party investment funds												0.8		—		0.8
Net investment income												61.5		—		61.5
Other revenues												(13.7)		29.5		15.8
Net corporate and other expenses												(16.3)		(45.5)		(61.8)
Intangible asset amortization												(2.4)		—		(2.4)
Interest expense												(10.8)		—		(10.8)
Foreign exchange losses												(0.1)		—		(0.1)
Income before income tax expense	$	79.9		$	40.3		120.2			(0.5)		49.5		1.6		170.8
Income tax expense							—			—		(25.8)		—		(25.8)
Net income							120.2			(0.5)		23.7		1.6		145.0
Net income attributable to noncontrolling interest							—			—		(0.8)		(1.6)		(2.4)
Net income available to SiriusPoint							$	120.2		$	(0.5)	$	22.9	$	—	$	142.6
Underwriting Ratios: (1)
Loss ratio	33.0		%	59.2		%	46.9		%							44.9		%
Acquisition cost ratio	25.4		%	24.6		%	25.0		%							20.1		%
Other underwriting expenses ratio	10.9		%	6.6		%	8.6		%							8.8		%
Combined ratio	69.3		%	90.4		%	80.5		%							73.8		%

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.

(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

	Three months ended March 31, 2022
	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	524.2		$	483.5		$	1,007.7		$	—	$	2.0	$	—	$	1,009.7
Net premiums written	374.9			337.5			712.4			—		1.5		—		713.9
Net premiums earned	307.6			212.8			520.4			—		8.9		—		529.3
Loss and loss adjustment expenses incurred, net	194.5			134.0			328.5			(1.2)		12.8		—		340.1
Acquisition costs, net	79.9			53.5			133.4			(25.6)		0.7		—		108.5
Other underwriting expenses	30.1			15.7			45.8			—		1.4		—		47.2
Underwriting income (loss)	3.1			9.6			12.7			26.8		(6.0)		—		33.5
Services revenue	—			56.8			56.8			(30.8)		—		(26.0)		—
Services expenses	—			43.3			43.3			—		—		(43.3)		—
Net services fee income	—			13.5			13.5			(30.8)		—		17.3		—
Services noncontrolling loss	—			0.8			0.8			—		—		(0.8)		—
Net investment losses from Strategic Investments	—			(0.3)			(0.3)			—		—		0.3		—
Net services income	—			14.0			14.0			(30.8)		—		16.8		—
Segment income (loss)	3.1			23.6			26.7			(4.0)		(6.0)		16.8		33.5
Net realized and unrealized investment losses												(81.6)		(0.3)		(81.9)
Net realized and unrealized investment losses from related party investment funds												(131.0)		—		(131.0)
Net investment income												7.8		—		7.8
Other revenues												11.2		26.0		37.2
Net corporate and other expenses												(34.1)		(43.3)		(77.4)
Intangible asset amortization												(1.9)		—		(1.9)
Interest expense												(9.3)		—		(9.3)
Foreign exchange gains												19.4		—		19.4
Income (loss) before income tax expense	$	3.1		$	23.6		26.7			(4.0)		(225.5)		(0.8)		(203.6)
Income tax expense							—			—		(9.7)		—		(9.7)
Net income (loss)							26.7			(4.0)		(235.2)		(0.8)		(213.3)
Net loss attributable to noncontrolling interest							—			—		—		0.3		0.3
Net income (loss) available to SiriusPoint							$	26.7		$	(4.0)	$	(235.2)	$	(0.5)	$	(213.0)
Underwriting Ratios: (1)
Loss ratio	63.2		%	63.0		%	63.1		%							64.3		%
Acquisition cost ratio	26.0		%	25.1		%	25.6		%							20.5		%
Other underwriting expenses ratio	9.8		%	7.4		%	8.8		%							8.9		%
Combined ratio	99.0		%	95.5		%	97.5		%							93.7		%

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.

(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

SIRIUSPOINT LTD.

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS & OTHER FINANCIAL MEASURES

Non-GAAP Financial Measures

Core Results

Collectively, the sum of the Company's two segments, Reinsurance and Insurance & Services, constitute "Core" results. Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the runoff business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

Core underwriting income - calculated by subtracting loss and loss adjustment expenses incurred, net, acquisition costs, net, and other underwriting expenses from net premiums earned.

Core net services income - consists of services revenues which include commissions, brokerage and fee income related to consolidated MGAs, and other revenues, services expenses which include direct expenses related to consolidated MGAs, services noncontrolling income which represent minority ownership interests in consolidated MGAs, and net investment gains from Strategic Investments which are net investment gains/losses from investment in our strategic partners. Net services income is a key indicator of the profitability of the Company's services provided, including investment returns on non-consolidated investment positions held.

Core income - consists of two components, core underwriting income and core net services income. Core income is a key measure of our segment performance.

Core combined ratio - calculated by dividing the sum of Core loss and loss adjustment expenses incurred, net, acquisition costs, net and other underwriting expenses by Core net premiums earned. Accident year loss ratio and accident year combined ratio are calculated by excluding prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the Core loss ratio and Core combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount. These ratios are useful indicators of our underwriting profitability.

Tangible Book Value Per Diluted Common Share

Tangible book value per diluted common share, as presented, is a non-GAAP financial measure and the most comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes the total number of unvested restricted shares, at period end, and intangible assets. While restricted shares are outstanding, they are excluded because they are unvested. Further, management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets.

The following table sets forth the computation of book value per common share, book value per diluted common share and tangible book value per diluted common share as of March 31, 2023 and December 31, 2022:

	March 31, 2023		December 31, 2022
	($ in millions, except share and per share amounts)
Common shareholders’ equity attributable to SiriusPoint common shareholders	$	2,036.6	$	1,874.7
Intangible assets	(161.9)		(163.8)
Tangible diluted common shareholders' equity attributable to SiriusPoint common shareholders	$	1,874.7	$	1,710.9
Common shares outstanding	162,367,173		162,177,653
Effect of dilutive stock options, restricted share units, warrants and Series A preference shares	3,023,030		3,492,795
Book value per diluted common share denominator	165,390,203		165,670,448
Unvested restricted shares	(1,134,473)		(1,708,608)
Tangible book value per diluted common share denominator	164,255,730		163,961,840
Book value per common share	$	12.54	$	11.56
Book value per diluted common share	$	12.31	$	11.32
Tangible book value per diluted common share	$	11.41	$	10.43

Other Financial Measures

Annualized Return on Average Common Shareholders’ Equity Attributable to SiriusPoint Common Shareholders

Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income (loss) available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period.

Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders for the three months ended March 31, 2023 and 2022 was calculated as follows:

	2023			2022
	($ in millions)
Net income (loss) available to SiriusPoint common shareholders	$	138.6		$	(217.0)
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period	1,874.7			2,303.7
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period	2,036.6			2,088.2
Average common shareholders’ equity attributable to SiriusPoint common shareholders	$	1,955.7		$	2,196.0
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders	28.3		%	(39.5)		%

EX-99.2

SiriusPoint Ltd.

Financial Supplement

March 31, 2023

(UNAUDITED)

This financial supplement is for informational purposes only. It should be read in conjunction with documents filed with the Securities and Exchange Commission by SiriusPoint Ltd., including the Company’s Quarterly Report on Form 10-Q.

Point Building	Dhruv Gahlaut - Head of Investor Relations and Chief Strategy Officer
3 Waterloo Lane	Tel: (044) 20 3772 3111
Pembroke HM 08	Email: investor.relations@siriuspt.com
Bermuda	Website: www.siriuspt.com

SiriusPoint Ltd.

Basis of Presentation and Non-GAAP Financial Measures:

Unless the context otherwise indicates or requires, as used in this financial supplement references to “we,” “our,” “us,” the “Company,” and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclusive of its subsidiaries. We have made rounding adjustments to reach some of the figures included in this financial supplement and, unless otherwise indicated, percentages presented in this financial supplement are approximate.

In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the runoff business. Tangible book value per diluted common share is also a non-GAAP financial measure. SiriusPoint's management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. Reconciliations and definitions of such measures to the most comparable GAAP figures are included in the attached financial information in accordance with Regulation G.

Safe Harbor Statement Regarding Forward-Looking Statements:

This financial supplement includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this financial supplement is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this financial supplement. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “estimates,” “expects,” “assumes,” “continues,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. Actual events, results and outcomes may differ materially from the Company’s expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improving underwriting performance, de-risking our investment portfolio, and transforming our business, including re-balancing our portfolio and growing the Insurance & Services segment; the impact of unpredictable catastrophic events including uncertainties with respect to current and future COVID-19 losses across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation, and foreign currency fluctuations; our ability to compete successfully in the (re)insurance market and the effect of consolidation in the (re)insurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including increased severity and frequency of weather-related natural disasters and catastrophes and increased coastal flooding in many geographic areas; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint’s investment portfolio; our potential exposure to U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from Daniel Loeb or any other party, including any actions that may be considered by the Company’s board of directors or any committee thereof; and other risks and factors listed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Page 2 of 17                             

SiriusPoint Ltd.

Table of Contents

Key Performance Indicators
Key Performance Indicators	4
Consolidated Financial Statements
Consolidated Balance Sheets - by Quarter	5
Consolidated Statements of Income (Loss)	6
Consolidated Statements of Income (Loss) - by Quarter	7
Operating Segment Information
Segment Reporting - Three months ended March 31, 2023	8
Segment Reporting - Three months ended March 31, 2022	9
Consolidated Results - by Quarter	10
Core Results - by Quarter	11
Reinsurance Segment - by Quarter	12
Insurance & Services Segment - by Quarter	13
Investments
Investments - by Quarter	14
Other
Earnings (loss) per Share - by Quarter	15
Annualized Return on Average Common Shareholders’ Equity - by Quarter	16
Book Value per Share - by Quarter	17

Page 3 of 17                             

SiriusPoint Ltd.

Key Performance Indicators

March 31, 2023 and 2022

(expressed in millions of U.S. dollars, except per share data and ratios)

	2023			2022
Combined ratio	73.8		%	93.7		%
Core underwriting income (1)	$	107.4		$	12.7
Core net services income (1)	$	12.8		$	14.0
Core income (1)	$	120.2		$	26.7
Core combined ratio (1)	80.5		%	97.5		%
Accident year loss ratio (1)	63.6		%	64.1		%
Accident year combined ratio (1)	97.2		%	98.5		%
Attritional loss ratio (1)	62.3		%	62.8		%
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders	28.3		%	(39.5)		%
Book value per common share (2)	$	12.54		$	11.56
Book value per diluted common share (2)	$	12.31		$	11.32
Tangible book value per diluted common share (1) (2)	$	11.41		$	10.43

(1)Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting.” Accident year combined ratio, accident year loss ratio and attritional loss ratio are non-GAAP financial measures. See definitions in “Core Results by Quarter.” Tangible book value per diluted common share is a non-GAAP financial measure. See reconciliation in “Book Value per Share - by Quarter.”

(2)Prior year comparatives represent amounts as of December 31, 2022.

Page 4 of 17                             

SiriusPoint Ltd.

Consolidated Balance Sheets - by Quarter

(expressed in millions of U.S. dollars)

	March 31, 2023		December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses	$	3,565.9	$	2,635.5	$	1,324.0	$	715.5	$	—
Debt securities, trading, at fair value	1,120.2		1,526.0		1,697.1		2,210.5		2,622.8
Short-term investments, at fair value	594.0		984.6		1,991.6		1,378.0		989.0
Investments in related party investment funds, at fair value	117.9		128.8		309.0		318.1		678.6
Other long-term investments, at fair value	361.9		377.2		414.9		436.4		438.2
Equity securities, trading, at fair value	1.6		1.6		1.4		1.6		2.7
Total investments	5,761.5		5,653.7		5,738.0		5,060.1		4,731.3
Cash and cash equivalents	763.6		705.3		647.3		746.6		826.1
Restricted cash and cash equivalents	211.0		208.4		144.2		630.6		972.8
Redemption receivable from related party investment fund	11.6		18.5		—		—		—
Due from brokers	6.5		4.9		20.2		72.8		70.1
Interest and dividends receivable	33.5		26.7		17.0		14.6		10.7
Insurance and reinsurance balances receivable, net	2,261.0		1,876.9		1,952.7		1,934.8		1,936.8
Deferred acquisition costs, net	357.1		294.9		278.6		271.3		271.0
Unearned premiums ceded	462.3		348.8		379.1		375.6		365.7
Loss and loss adjustment expenses recoverable, net	1,392.0		1,376.2		1,309.2		1,257.5		1,278.6
Deferred tax asset	175.7		200.3		197.6		180.1		180.6
Intangible assets	161.9		163.8		165.9		168.0		170.0
Assets held for sale	—		—		20.9		—		—
Other assets	209.5		157.9		127.4		129.2		102.6
Total assets	$	11,807.2	$	11,036.3	$	10,998.1	$	10,841.2	$	10,916.3
Liabilities
Loss and loss adjustment expense reserves	$	5,318.9	$	5,268.7	$	5,200.5	$	4,940.8	$	4,936.0
Unearned premium reserves	1,833.1		1,521.1		1,572.8		1,557.2		1,504.9
Reinsurance balances payable	1,004.9		813.6		793.9		759.0		773.5
Deposit liabilities	141.2		140.5		138.9		143.5		147.2
Securities sold, not yet purchased, at fair value	19.4		27.0		41.7		83.4		64.0
Securities sold under an agreement to repurchase	20.3		18.0		17.3		17.5		—
Due to brokers	60.1		—		16.6		18.0		32.1
Accounts payable, accrued expenses and other liabilities	275.7		266.6		245.8		206.5		188.7
Deferred tax liability	59.4		59.8		66.9		59.2		98.0
Liability-classified capital instruments	47.0		60.4		48.9		50.7		76.0
Debt	779.2		778.0		762.0		781.3		808.4
Total liabilities	9,559.2		8,953.7		8,905.3		8,617.1		8,628.8
Shareholders’ equity
Series B preference shares	200.0		200.0		200.0		200.0		200.0
Common shares	16.2		16.2		16.2		16.2		16.2
Additional paid-in capital	1,642.6		1,641.3		1,633.2		1,630.3		1,623.4
Retained earnings	400.8		262.2		288.8		387.2		448.0
Accumulated other comprehensive income (loss)	(23.0)		(45.0)		(53.7)		(10.4)		0.6
Shareholders’ equity attributable to SiriusPoint shareholders	2,236.6		2,074.7		2,084.5		2,223.3		2,288.2
Noncontrolling interests	11.4		7.9		8.3		0.8		(0.7)
Total shareholders’ equity	2,248.0		2,082.6		2,092.8		2,224.1		2,287.5
Total liabilities, noncontrolling interests and shareholders’ equity	$	11,807.2	$	11,036.3	$	10,998.1	$	10,841.2	$	10,916.3

Page 5 of 17                             

SiriusPoint Ltd.

Consolidated Statements of Income (Loss)

(expressed in millions of U.S. dollars, except share and per share data)

	Three months ended
	March 31, 2023		March 31, 2022
Revenues
Net premiums earned	$	595.5	$	529.3
Net realized and unrealized investment gains (losses)	11.3		(81.9)
Net realized and unrealized investment gains (losses) from related party investment funds	0.8		(131.0)
Net investment income	61.5		7.8
Net realized and unrealized investment gains (losses) and net investment income	73.6		(205.1)
Other revenues	15.8		37.2
Total revenues	684.9		361.4
Expenses
Loss and loss adjustment expenses incurred, net	267.1		340.1
Acquisition costs, net	119.7		108.5
Other underwriting expenses	52.2		47.2
Net corporate and other expenses	61.8		77.4
Intangible asset amortization	2.4		1.9
Interest expense	10.8		9.3
Foreign exchange (gains) losses	0.1		(19.4)
Total expenses	514.1		565.0
Income (loss) before income tax expense	170.8		(203.6)
Income tax expense	(25.8)		(9.7)
Net income (loss)	145.0		(213.3)
Net (income) loss attributable to noncontrolling interests	(2.4)		0.3
Net income (loss) available to SiriusPoint	142.6		(213.0)
Dividends on Series B preference shares	(4.0)		(4.0)
Net income (loss) available to SiriusPoint common shareholders	$	138.6	$	(217.0)
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders (1)	$	0.80	$	(1.36)
Diluted earnings (loss) per share available to SiriusPoint common shareholders (1)	$	0.78	$	(1.36)
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic	160,905,860		159,867,593
Diluted	164,130,946		159,867,593

(1)    Basic earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options and unvested restricted shares. Diluted earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding and includes any dilutive effects of warrants, options and unvested restricted shares under share plans and are determined using the treasury stock method. U.S. GAAP requires that participating securities be treated in the same manner as outstanding shares for earnings per share calculations. The Company treats certain of its unvested restricted shares as participating securities. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 6 of 17                             

SiriusPoint Ltd.

Consolidated Statements of Income (Loss) - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

	March 31, 2023		December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022
Revenues
Net premiums earned	$	595.5	$	607.4	$	612.6	$	568.8	$	529.3
Net realized and unrealized investment gains (losses)	11.3		10.9		(56.1)		(98.4)		(81.9)
Net realized and unrealized investment gains (losses) from related party investment funds	0.8		(10.7)		(8.3)		(60.5)		(131.0)
Net investment income	61.5		51.9		36.2		17.4		7.8
Total realized and unrealized investment gains (losses) and net investment income	73.6		52.1		(28.2)		(141.5)		(205.1)
Other revenues	15.8		14.1		13.1		45.8		37.2
Total revenues	684.9		673.6		597.5		473.1		361.4
Expenses
Loss and loss adjustment expenses incurred, net	267.1		390.1		497.9		360.3		340.1
Acquisition costs, net	119.7		113.0		116.8		123.6		108.5
Other underwriting expenses	52.2		46.4		44.8		46.1		47.2
Net corporate and other expenses	61.8		92.6		70.8		72.0		77.4
Intangible asset amortization	2.4		2.1		2.1		2.0		1.9
Interest expense	10.8		10.5		9.4		9.4		9.3
Foreign exchange (gains) losses	0.1		61.5		(51.6)		(56.5)		(19.4)
Total expenses	514.1		716.2		690.2		556.9		565.0
Income (loss) before income tax (expense) benefit	170.8		(42.6)		(92.7)		(83.8)		(203.6)
Income tax (expense) benefit	(25.8)		19.6		(0.9)		27.7		(9.7)
Net income (loss)	145.0		(23.0)		(93.6)		(56.1)		(213.3)
Net (income) loss attributable to noncontrolling interests	(2.4)		0.4		(0.8)		(0.7)		0.3
Net income (loss) available to SiriusPoint	142.6		(22.6)		(94.4)		(56.8)		(213.0)
Dividends on Series B preference shares	(4.0)		(4.0)		(4.0)		(4.0)		(4.0)
Net income (loss) available to SiriusPoint common shareholders	$	138.6	$	(26.6)	$	(98.4)	$	(60.8)	$	(217.0)
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders (1)	$	0.80	$	(0.17)	$	(0.61)	$	(0.38)	$	(1.36)
Diluted earnings (loss) per share available to SiriusPoint common shareholders (1)	$	0.78	$	(0.17)	$	(0.61)	$	(0.38)	$	(1.36)
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic	160,905,860		160,459,088		160,321,270		160,258,883		159,867,593
Diluted	164,130,946		160,459,088		160,321,270		160,258,883		159,867,593

(1)     Basic income (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares and preference shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 7 of 17                             

SiriusPoint Ltd.

Segment Reporting - Three months ended March 31, 2023

(expressed in millions of U.S. dollars, except ratios)

	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	396.2		$	664.0		$	1,060.2		$	—	$	50.3	$	—	$	1,110.5
Net premiums written	311.0			452.6			763.6			—		28.1		—		791.7
Net premiums earned	259.5			291.2			550.7			—		44.8		—		595.5
Loss and loss adjustment expenses incurred, net	85.6			172.5			258.1			(1.3)		10.3		—		267.1
Acquisition costs, net	66.0			71.7			137.7			(32.5)		14.5		—		119.7
Other underwriting expenses	28.2			19.3			47.5			—		4.7		—		52.2
Underwriting income	79.7			27.7			107.4			33.8		15.3		—		156.5
Services revenue	0.2			63.6			63.8			(34.3)		—		(29.5)		—
Services expenses	—			45.5			45.5			—		—		(45.5)		—
Net services fee income	0.2			18.1			18.3			(34.3)		—		16.0		—
Services noncontrolling income	—			(1.6)			(1.6)			—		—		1.6		—
Net investment losses from Strategic Investments	—			(3.9)			(3.9)			—		—		3.9		—
Net services income	0.2			12.6			12.8			(34.3)		—		21.5		—
Segment income	79.9			40.3			120.2			(0.5)		15.3		21.5		156.5
Net realized and unrealized investment gains (losses)												15.2		(3.9)		11.3
Net realized and unrealized investment gains from related party investment funds												0.8		—		0.8
Net investment income												61.5		—		61.5
Other revenues												(13.7)		29.5		15.8
Net corporate and other expenses												(16.3)		(45.5)		(61.8)
Intangible asset amortization												(2.4)		—		(2.4)
Interest expense												(10.8)		—		(10.8)
Foreign exchange losses												(0.1)		—		(0.1)
Income before income tax expense	$	79.9		$	40.3		120.2			(0.5)		49.5		1.6		170.8
Income tax expense							—			—		(25.8)		—		(25.8)
Net income							120.2			(0.5)		23.7		1.6		145.0
Net income attributable to noncontrolling interest							—			—		(0.8)		(1.6)		(2.4)
Net income available to SiriusPoint							$	120.2		$	(0.5)	$	22.9	$	—	$	142.6
Underwriting Ratios: (1)
Loss ratio	33.0		%	59.2		%	46.9		%							44.9		%
Acquisition cost ratio	25.4		%	24.6		%	25.0		%							20.1		%
Other underwriting expenses ratio	10.9		%	6.6		%	8.6		%							8.8		%
Combined ratio	69.3		%	90.4		%	80.5		%							73.8		%

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.

(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

Page 8 of 17                             

SiriusPoint Ltd.

Segment Reporting - Three months ended March 31, 2022

(expressed in millions of U.S. dollars, except ratios)

	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	524.2		$	483.5		$	1,007.7		$	—	$	2.0	$	—	$	1,009.7
Net premiums written	374.9			337.5			712.4			—		1.5		—		713.9
Net premiums earned	307.6			212.8			520.4			—		8.9		—		529.3
Loss and loss adjustment expenses incurred, net	194.5			134.0			328.5			(1.2)		12.8		—		340.1
Acquisition costs, net	79.9			53.5			133.4			(25.6)		0.7		—		108.5
Other underwriting expenses	30.1			15.7			45.8			—		1.4		—		47.2
Underwriting income (loss)	3.1			9.6			12.7			26.8		(6.0)		—		33.5
Services revenue	—			56.8			56.8			(30.8)		—		(26.0)		—
Services expenses	—			43.3			43.3			—		—		(43.3)		—
Net services fee income	—			13.5			13.5			(30.8)		—		17.3		—
Services noncontrolling loss	—			0.8			0.8			—		—		(0.8)		—
Net investment losses from Strategic Investments	—			(0.3)			(0.3)			—		—		0.3		—
Net services income	—			14.0			14.0			(30.8)		—		16.8		—
Segment income (loss)	3.1			23.6			26.7			(4.0)		(6.0)		16.8		33.5
Net realized and unrealized investment losses												(81.6)		(0.3)		(81.9)
Net realized and unrealized investment losses from related party investment funds												(131.0)		—		(131.0)
Net investment income												7.8		—		7.8
Other revenues												11.2		26.0		37.2
Net corporate and other expenses												(34.1)		(43.3)		(77.4)
Intangible asset amortization												(1.9)		—		(1.9)
Interest expense												(9.3)		—		(9.3)
Foreign exchange gains												19.4		—		19.4
Income (loss) before income tax expense	$	3.1		$	23.6		26.7			(4.0)		(225.5)		(0.8)		(203.6)
Income tax expense							—			—		(9.7)		—		(9.7)
Net income (loss)							26.7			(4.0)		(235.2)		(0.8)		(213.3)
Net loss attributable to noncontrolling interest							—			—		—		0.3		0.3
Net income (loss) available to SiriusPoint							$	26.7		$	(4.0)	$	(235.2)	$	(0.5)	$	(213.0)
Underwriting Ratios: (1)
Loss ratio	63.2		%	63.0		%	63.1		%							64.3		%
Acquisition cost ratio	26.0		%	25.1		%	25.6		%							20.5		%
Other underwriting expenses ratio	9.8		%	7.4		%	8.8		%							8.9		%
Combined ratio	99.0		%	95.5		%	97.5		%							93.7		%

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.

(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

Page 9 of 17                             

SiriusPoint Ltd.

Consolidated Results - by Quarter

(expressed in millions of U.S. dollars, except ratios)

	March 31, 2023			December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022
Revenues
Gross premiums written	$	1,110.5		$	743.7		$	843.8		$	812.6		$	1,009.7
Net premiums written	791.7			577.9			634.4			623.0			713.9
Net premiums earned	595.5			607.4			612.6			568.8			529.3
Expenses
Loss and loss adjustment expenses incurred, net	267.1			390.1			497.9			360.3			340.1
Acquisition costs, net	119.7			113.0			116.8			123.6			108.5
Other underwriting expenses	52.2			46.4			44.8			46.1			47.2
Underwriting income (loss)	$	156.5		$	57.9		$	(46.9)		$	38.8		$	33.5
Underwriting Ratios (1):
Loss ratio	44.9		%	64.2		%	81.3		%	63.3		%	64.3		%
Acquisition cost ratio	20.1		%	18.6		%	19.1		%	21.7		%	20.5		%
Other underwriting expense ratio	8.8		%	7.6		%	7.3		%	8.1		%	8.9		%
Combined ratio	73.8		%	90.4		%	107.7		%	93.1		%	93.7		%
Catastrophe losses, net of reinsurance and reinstatement premiums	$	12.9		$	0.2		$	114.6		$	16.2		$	6.9
Russia/Ukraine losses	—			(0.7)			(0.3)			(0.1)			18.6
Favorable prior year loss reserve development	$	(105.4)		$	(4.1)		$	(5.3)		$	(6.4)		$	(5.5)

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.

Page 10 of 17                             

SiriusPoint Ltd.

Core Results - by Quarter (1)

(expressed in millions of U.S. dollars, except ratios)

	March 31, 2023			December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022
Revenues
Gross premiums written	$	1,060.2		$	742.4		$	843.3		$	812.2		$	1,007.7
Net premiums written	763.6			576.5			633.8			622.9			712.4
Net premiums earned	550.7			605.8			609.9			563.8			520.4
Expenses
Loss and loss adjustment expenses incurred, net	258.1			382.5			504.1			359.5			328.5
Acquisition costs, net	137.7			149.1			150.8			150.2			133.4
Other underwriting expenses	47.5			43.0			43.3			44.5			45.8
Underwriting income (loss)	107.4			31.2			(88.3)			9.6			12.7
Services revenues	63.8			46.2			55.9			56.6			56.8
Services expenses	45.5			43.9			47.2			44.8			43.3
Net services fee income	18.3			2.3			8.7			11.8			13.5
Services noncontrolling (income) loss	(1.6)			0.5			0.5			(0.7)			0.8
Net investment gains (losses) from Strategic Investments	(3.9)			(9.0)			3.7			(0.5)			(0.3)
Net services income (loss)	12.8			(6.2)			12.9			10.6			14.0
Segment income (loss)	$	120.2		$	25.0		$	(75.4)		$	20.2		$	26.7
Underwriting Ratios (2):
Loss ratio	46.9		%	63.1		%	82.7		%	63.8		%	63.1		%
Acquisition cost ratio	25.0		%	24.6		%	24.7		%	26.6		%	25.6		%
Other underwriting expense ratio	8.6		%	7.1		%	7.1		%	7.9		%	8.8		%
Combined ratio	80.5		%	94.8		%	114.5		%	98.3		%	97.5		%
Accident year loss ratio	63.6		%	64.7		%	82.2		%	64.0		%	64.1		%
Accident year combined ratio	97.2		%	96.4		%	114.1		%	98.6		%	98.5		%
Attritional loss ratio	62.3		%	64.7		%	63.4		%	61.2		%	62.8		%
Catastrophe losses, net of reinsurance and reinstatement premiums	$	7.0		$	0.2		$	114.6		$	16.2		$	6.9
Russia/Ukraine losses	—			(0.7)			(0.3)			(0.1)			13.3
(Favorable) adverse prior year loss reserve development	$	(91.9)		$	(9.6)		$	2.6		$	(1.5)		$	(5.0)

(1)Collectively, the sum of our two segments, Reinsurance and Insurance & Services, constitute our "Core" results. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the runoff business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

(2)Underwriting ratios are calculated by dividing the related expense by net premiums earned. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount.

Page 11 of 17                             

SiriusPoint Ltd.

Reinsurance Segment - by Quarter

(expressed in millions of U.S. dollars, except ratios)

	March 31, 2023			December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022
Revenues
Gross premiums written	$	396.2		$	300.5		$	318.4		$	378.3		$	524.2
Net premiums written	311.0			236.1			267.1			321.5			374.9
Net premiums earned	259.5			281.5			304.5			319.5			307.6
Expenses
Loss and loss adjustment expenses incurred, net	85.6			170.4			286.3			204.7			194.5
Acquisition costs, net	66.0			74.3			69.8			86.3			79.9
Other underwriting expenses	28.2			27.0			28.0			28.7			30.1
Underwriting income (loss)	79.7			9.8			(79.6)			(0.2)			3.1
Services revenues	0.2			(3.6)			3.4			—			—
Net services fee income (loss)	0.2			(3.6)			3.4			—			—
Net investment gains (losses) from Strategic Investments	—			(4.2)			0.3			—			—
Net services income (loss)	0.2			(7.8)			3.7			—			—
Segment income (loss)	$	79.9		$	2.0		$	(75.9)		$	(0.2)		$	3.1
Underwriting Ratios (1):
Loss ratio	33.0		%	60.5		%	94.0		%	64.1		%	63.2		%
Acquisition cost ratio	25.4		%	26.4		%	22.9		%	27.0		%	26.0		%
Other underwriting expense ratio	10.9		%	9.6		%	9.2		%	9.0		%	9.8		%
Combined ratio	69.3		%	96.5		%	126.1		%	100.1		%	99.0		%
Accident year loss ratio	61.7		%	59.5		%	99.4		%	62.6		%	63.3		%
Accident year combined ratio	98.0		%	95.5		%	131.5		%	98.6		%	99.0		%
Attritional loss ratio	59.4		%	60.0		%	61.7		%	57.6		%	61.0		%
Catastrophe losses, net of reinsurance and reinstatement premiums	$	6.0		$	(1.4)		$	114.6		$	16.2		$	6.9
Russia/Ukraine losses	—			(0.7)			(0.3)			(0.1)			13.3
(Favorable) adverse prior year loss reserve development	$	(74.6)		$	3.0		$	(16.3)		$	4.6		$	(0.1)

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned. Accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount.

Page 12 of 17                             

SiriusPoint Ltd.

Insurance & Services Segment - by Quarter

(expressed in millions of U.S. dollars, except ratios)

	March 31, 2023			December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022
Revenues
Gross premiums written	$	664.0		$	441.9		$	524.9		$	433.9		$	483.5
Net premiums written	452.6			340.4			366.7			301.4			337.5
Net premiums earned	291.2			324.3			305.4			244.3			212.8
Expenses
Loss and loss adjustment expenses incurred, net	172.5			212.1			217.8			154.8			134.0
Acquisition costs, net	71.7			74.8			81.0			63.9			53.5
Other underwriting expenses	19.3			16.0			15.3			15.8			15.7
Underwriting income (loss)	27.7			21.4			(8.7)			9.8			9.6
Services revenues	63.6			49.8			52.5			56.6			56.8
Services expenses	45.5			43.9			47.2			44.8			43.3
Net services fee income	18.1			5.9			5.3			11.8			13.5
Services noncontrolling (income) loss	(1.6)			0.5			0.5			(0.7)			0.8
Net investment gains (losses) from Strategic Investments	(3.9)			(4.8)			3.4			(0.5)			(0.3)
Net services income	12.6			1.6			9.2			10.6			14.0
Segment income	$	40.3		$	23.0		$	0.5		$	20.4		$	23.6
Underwriting Ratios (1):
Loss ratio	59.2		%	65.4		%	71.3		%	63.4		%	63.0		%
Acquisition cost ratio	24.6		%	23.1		%	26.5		%	26.2		%	25.1		%
Other underwriting expense ratio	6.6		%	4.9		%	5.0		%	6.5		%	7.4		%
Combined ratio	90.4		%	93.4		%	102.8		%	96.1		%	95.5		%
Accident year loss ratio	65.2		%	69.3		%	65.1		%	65.9		%	65.3		%
Accident year combined ratio	96.4		%	97.3		%	96.7		%	98.5		%	97.8		%
Attritional loss ratio	64.8		%	68.8		%	65.1		%	65.9		%	65.3		%
Catastrophe losses, net of reinsurance and reinstatement premiums	$	1.0		$	1.6		$	—		$	—		$	—
(Favorable) adverse prior year loss reserve development	$	(17.3)		$	(12.6)		$	18.9		$	(6.1)		$	(4.9)

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned. Accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount.

Page 13 of 17                             

SiriusPoint Ltd.

Investments - by Quarter

(expressed in millions of U.S. dollars)

	March 31, 2023				December 31, 2022				September 30, 2022				June 30, 2022				March 31, 2022
	Fair Value		%		Fair Value		%		Fair Value		%		Fair Value		%		Fair Value		%
Asset-backed securities	$	414.4	7.2	%	$	230.7	4.1	%	$	133.9	2.3	%	$	125.1	2.5	%	$	—	—	%
Residential mortgage-backed securities	417.8		7.3	%	340.7		6.0	%	212.8		3.7	%	112.0		2.2	%	—		—	%
Commercial mortgage-backed securities	92.8		1.6	%	61.2		1.1	%	18.6		0.3	%	14.3		0.3	%	—		—	%
Corporate debt securities	943.4		16.4	%	415.7		7.4	%	386.0		6.7	%	157.7		3.1	%	—		—	%
U.S. government and government agency	1,637.1		28.4	%	1,550.6		27.4	%	552.3		9.6	%	291.5		5.8	%	—		—	%
Non-U.S. government and government agency	60.4		1.0	%	36.6		0.6	%	20.4		0.4	%	14.9		0.3	%	—		—	%
Total debt securities, available for sale	3,565.9		61.9	%	2,635.5		46.6	%	1,324.0		23.0	%	715.5		14.2	%	—		—	%
Asset-backed securities	443.5		7.7	%	553.7		9.8	%	642.0		11.2	%	672.5		13.3	%	718.1		15.2	%
Residential mortgage-backed securities	132.4		2.3	%	133.6		2.4	%	141.2		2.5	%	292.5		5.8	%	393.0		8.3	%
Commercial mortgage-backed securities	111.2		1.9	%	113.4		2.0	%	117.0		2.0	%	126.3		2.5	%	132.7		2.8	%
Corporate debt securities	294.4		5.1	%	363.5		6.4	%	404.4		7.0	%	667.2		13.2	%	752.3		15.9	%
U.S. government and government agency	91.2		1.6	%	270.4		4.8	%	297.1		5.2	%	323.9		6.4	%	489.1		10.3	%
Non-U.S. government and government agency	44.3		0.9	%	88.2		1.6	%	92.2		1.6	%	124.9		2.4	%	134.3		2.8	%
U.S. states, municipalities and political subdivision	—		—	%	—		—	%	—		—	%	—		—	%	—		—	%
Preferred stocks	3.2		—	%	3.2		—	%	3.2		0.1	%	3.2		0.1	%	3.3		0.1	%
Total debt securities, trading	1,120.2		19.5	%	1,526.0		27.0	%	1,697.1		29.6	%	2,210.5		43.7	%	2,622.8		55.4	%
Total equity securities	1.6		—	%	1.6		—	%	1.4		—	%	1.6		—	%	2.7		0.1	%
Short-term investments	594.0		10.3	%	984.6		17.4	%	1,991.6		34.7	%	1,378.0		27.2	%	989.0		20.9	%
Other long-term investments	227.8		4.0	%	227.3		4.0	%	196.8		3.4	%	173.5		3.4	%	185.0		3.9	%
Cost and equity method investments	95.0		1.6	%	104.8		1.9	%	128.0		2.3	%	144.6		2.9	%	130.2		2.8	%
Investments in funds valued at net asset value	157.0		2.7	%	173.9		3.1	%	399.1		7.0	%	436.4		8.6	%	801.6		16.9	%
Total investments	$	5,761.5	100.0	%	$	5,653.7	100.0	%	$	5,738.0	100.0	%	$	5,060.1	100.0	%	$	4,731.3	100.0	%

Page 14 of 17                             

SiriusPoint Ltd.

Earnings (loss) per Share - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

	March 31, 2023		December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding	160,905,860		160,459,088		160,321,270		160,258,883		159,867,593
Dilutive effect of options, warrants, restricted share awards, restricted share units, and Series A preference shares(1)	3,225,086		—		—		—		—
Diluted number of common shares outstanding	164,130,946		160,459,088		160,321,270		160,258,883		159,867,593
Basic income (loss) per common share:
Net income (loss) allocated to SiriusPoint common shareholders	$	128.1	$	(26.6)	$	(98.4)	$	(60.8)	$	(217.0)
Basic earnings (loss) per share available to SiriusPoint common shareholders (2)	$	0.80	$	(0.17)	$	(0.61)	$	(0.38)	$	(1.36)
Diluted earnings (loss) per common share:
Net income (loss) allocated to SiriusPoint common shareholders	$	128.1	$	(26.6)	$	(98.4)	$	(60.8)	$	(217.0)
Diluted earnings (loss) per share available to SiriusPoint common shareholders (2)	$	0.78	$	(0.17)	$	(0.61)	$	(0.38)	$	(1.36)

(1)For the quarters ended December 31, 2022, September 30, 2022, June 30, 2022 and March 31, 2022, there was no dilution as a result of the net loss allocated to SiriusPoint common shareholders in the quarter.

(2)Basic income (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares and preference shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 15 of 17                             

SiriusPoint Ltd.

Annualized Return on Average Common Shareholders’ Equity - by Quarter

(expressed in millions of U.S. dollars, except share and per share data and ratios)

	March 31, 2023			December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022
Net income (loss) available to SiriusPoint common shareholders	$	138.6		$	(26.6)		$	(98.4)		$	(60.8)		$	(217.0)
Shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period	1,874.7			1,884.5			2,023.3			2,088.2			2,303.7
Shareholders’ equity attributable to SiriusPoint common shareholders - end of period	2,036.6			1,874.7			1,884.5			2,023.3			2,088.2
Average shareholders’ equity attributable to SiriusPoint common shareholders	$	1,955.7		$	1,879.6		$	1,953.9		$	2,055.8		$	2,196.0
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (1)	28.3		%	(5.7)		%	(20.1)		%	(11.8)		%	(39.5)		%

(1)Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income (loss) available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period.

Page 16 of 17                             

SiriusPoint Ltd.

Book Value per Share - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

	March 31, 2023		December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022
Common shareholders’ equity attributable to SiriusPoint common shareholders	$	2,036.6	$	1,874.7	$	1,884.5	$	2,023.3	$	2,088.2
Intangible assets	(161.9)		(163.8)		(165.9)		(168.0)		(170.0)
Tangible diluted common shareholders' equity attributable to SiriusPoint common shareholders	$	1,874.7	$	1,710.9	$	1,718.6	$	1,855.3	$	1,918.2
Common shares outstanding	162,367,173		162,177,653		162,312,938		162,328,831		161,941,552
Effect of dilutive stock options, restricted share units, warrants and Series A preference shares	3,023,030		3,492,795		1,963,861		1,790,110		1,469,274
Book value per diluted common share denominator	165,390,203		165,670,448		164,276,799		164,118,941		163,410,826
Unvested restricted shares	(1,134,473)		(1,708,608)		(1,890,932)		(2,051,368)		(1,981,408)
Tangible book value per diluted common share denominator	164,255,730		163,961,840		162,385,867		162,067,573		161,429,418
Book value per common share	$	12.54	$	11.56	$	11.61	$	12.46	$	12.89
Book value per diluted common share	$	12.31	$	11.32	$	11.47	$	12.33	$	12.78
Tangible book value per diluted common share(1)	$	11.41	$	10.43	$	10.58	$	11.45	$	11.88

(1)Tangible book value per diluted common share, as presented, is a non-GAAP financial measure and the most comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes the total number of unvested restricted shares, at period end, and intangible assets. While restricted shares are outstanding, they are excluded because they are unvested. Further, management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets.

Page 17 of 17                             

EX-99.3

For information purposes only SIRIUSPOINT LTD. – A GLOBAL UNDERWRITER 2023 First Quarter Results May 3, 2023

For information purposes only 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 combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclusive of its subsidiaries. We have made rounding adjustments to reach some of the figures included in this presentation and, unless otherwise indicated, percentages presented in this presentation are approximate. In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the runoff business. Tangible book value per diluted common share is also a non-GAAP financial measure. SiriusPoint's management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. Safe Harbor Statement Regarding Forward-Looking Statements: This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this presentation is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this presentation. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “estimates,” “expects,” “assumes,” “continues,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. Actual events, results and outcomes may differ materially from the Company’s expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improving underwriting performance, de-risking our investment portfolio, and transforming our business, including re-balancing our portfolio and growing the Insurance & Services segment; the impact of unpredictable catastrophic events including uncertainties with respect to current and future COVID-19 losses across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation, and foreign currency fluctuations; our ability to compete successfully in the (re)insurance market and the effect of consolidation in the (re)insurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including increased severity and frequency of weather-related natural disasters and catastrophes and increased coastal flooding in many geographic areas; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint’s investment portfolio; our potential exposure to U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from Daniel Loeb or any other party, including any actions that may be considered by the Company’s board of directors or any committee thereof; and other risks and factors listed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 2 Disclaimer

For information purposes only Agenda 3 1 2 3 1 2 Key Messages Quarterly Results Update

For information purposes only Key Messages 4

For information purposes only 5 Key Messages: Continued Progress in Q1 Notes: [1] COR = Combined Ratio. Reflects Core business. [2] COR = Combined Ratio. Reflects Core business and adjusted for $90m of Q1’23 reserve releases linked to LPT and $10m of expenses re-allocated from net corporate and other expenses to the underwriting result. [3] GPW = Gross Premium Written. [4] Transaction expected to close in Q2'23. [5] PYD = Prior Year Development. [6] Total investment result calculated as the sum of net realized and unrealized investment gains (losses), net realized and unrealized investment gains from related party investment funds and net investment income. [7] SVB = Silicon Valley Bank. [8] SiriusPoint Group BSCR calculated as available economic capital and surplus divided by the enhanced capital requirement. [9] Financial strength ratings for the operating subsidiaries, SiriusPoint International Insurance Corporation, SiriusPoint Bermuda Insurance Company, SiriusPoint America Insurance Company and SiriusPoint Specialty Insurance Corporation. [10] Return on average common shareholders’ equity attributable to SiriusPoint common shareholders. [11] In addition to the $30m of restructuring costs incurred in 2022. • Relates to ~$1.3bn reserves and includes business exited in our International business • $102m of PYD5 reserve release, which is ~5 ppts ROE accretive in 2023 • Additional ~$150m capital release expected upon closing • Balance sheet aligned to go-forward strategy Transformational Loss Portfolio Transfer (LPT) transaction4 Reiterating guidance: on track to achieve 2023 and 2024 targets High quality investment portfolio Uncompromised emphasis on underwriting leading to improved results Strong balance sheet • Underwriting profit for the Core business at $107m for Q1’23 (vs. $13m in Q1’22) with 80.5% COR1 • ~2.5 ppts YoY improvement in COR2 during Q1'23 • Reinforcing underwriting culture, with strong alignment between compensation and underwriting results • Rebalanced portfolio with lower exposure to the Property segment (Q1'23: 10% of GPW3 vs. 26% at Q1'22) • $74m total investment result6 driven by $62m of net investment income, on track to meet FY guidance • No direct exposure to SVB7, Signature Bank and First Republic via our investment portfolio • No investment exposure to other small regional banks • Sale of minority stake in Distinguished Programs for $7.5m • Distribution remains important for the Group and we are progressing work on simplifying our equity stakes • Focus is on further leveraging core partnerships; we renewed our partnership with Arcadian, one of our consolidated MGAs, through 2026 • Bermuda Solvency Capital Ratio (BSCR)8 improved to 217% as of Q4’22 vs. 194% in Q3’22 • LPT further strengthens our balance sheet and improves the BSCR by >15 ppts • Fitch upgraded outlook to ‘Stable’ and reaffirmed A- FSR9; AM Best also affirmed ratings and ‘Stable’ outlook • Targeting double-digit ROE10 in 2023 including $102m of reserve release linked to the LPT • Net investment income expected to be in the range of $220m to $240m in 2023 • $25m restructuring charge in 202311 and expect >$50m of reduction in cost base by 2024 • Reaffirming guidance of double-digit ROE10 by 2024 Progress toward simplifying MGA footprint

For information purposes only Quarterly Results Update 6

For information purposes only Q1 2023 Financial Results 7 Notes: [1] Reflects Core business. [2] Total investment result calculated as the sum of net realized and unrealized investment gains (losses), net realized and unrealized investment gains from related party investment funds and net investment income. [3] Net income (loss) available to SiriusPoint common shareholders. [4] Common shareholders’ equity attributable to SiriusPoint common shareholders at end of period. [5] PYD = Prior Year Development. [6] MTM = Mark to Market. • GPW1 increased 5% • Driven by Insurance & Services (+$181m) • Partially offset by Reinsurance (-$128m) • Core underwriting result up by $95m and benefited from lower attritional losses, favorable PYD5 and reduction in expenses • Net services fee income higher at $18m • Total investment result2 at $74m vs. a loss of $205m in Q1'22 • Net investment income at $62m • Net realized and unrealized gains, including related party investment funds at $12m • Other notable items impacting income during the quarter: • $7m restructuring charge and expect the remaining $18m to occur during 2023 • $25m impact from MTM6 on liability-classified capital instruments • $102m overall net benefit from LPT • Net income3 of $139m supported by positive underwriting, investment result and net services fee income • Common shareholders' equity4 at $2.0bn, up 9 ppts and diluted book value per share up 9% since Q4'22 Key Comments$ numbers in USD millions Q1'22 Q1'23 GPW1 $1,008 $1,060 NPW1 $712 $764 UW Income1 $13 $107 Net Services Fee Income1 $14 $18 Total Investment Result2 ($205) $74 Net Income (Loss)3 ($217) $139 COR1 (%) 97.5% 80.5% AY COR1 (%) 98.5% 97.2% Common Shareholders' Equity4 $2,088 $2,037

For information purposes only $ numbers in USD millions Key Comments • Core premiums up 5% driven primarily by growth in Insurance & Services • Reinsurance premiums down 24% for Q1'23, driven by International (-$133m) • Insurance & Services premiums up 37% for Q1'23, driven by both A&H (+$93m) and our P&C Strategic business (+$88m) • We will continue to prioritize underwriting profitability over premium growth as we look to improve returns • 4/1 renewals - 7% of book is renewed and we experienced rating trends similar to 1/1 • Average rate increases of around 6% driven by International Property Cat1 • Further portfolio rebalancing away from International Property Cat1 • Property now accounts for 10% of the total gross premium written vs. 26% at Q1'22 Core Insurance & Services Reinsurance 8 Trends in Gross Premium Written Notes: [1] Cat = Catastrophe.

For information purposes only Underwriting Performance: Aim to Further Improve in 2023 9 COR Walk1 $ numbers in USD millions COR Loss Ratio Total Expense Ratio6 Key Comments Notes: [1] Reflects Core business. [2] Reflects Core business adjusted for $90m of Q1'23 reserve releases linked to LPT and $10m of expenses re-allocated from net corporate and other expenses to the underwriting result. [3] Attritional loss ratio excludes catastrophe losses from the accident year loss ratio. [4] PYD = Prior Year Development. [5] Adjusted for Q1'23 reserve releases linked to LPT. [6] Total expense ratio calculated as the sum of acquisition cost ratio and other underwriting expense (OUE) ratio. • Portfolio actions already yielding results, 2.5 ppts of COR2 improvement on a like-for-like basis • Adjusted Q1'23 COR2 at 95.0% vs. 97.5% at Q1'22 • COR1 at 80.5%, improved by 17 ppts and supported by higher favorable PYD4, attritional and lower expense ratio • Cat losses (net of reinsurance and reinstatement premiums) stable at $7m • PYD4 ratio is 16 ppts higher than Q1'22 and included $90m reserve release linked to the LPT transaction • Total Expense ratio at 33.6%1,6, a one point improvement quarter over quarter despite expense re-allocation • $10m (~2 ppts) moved from net corporate and other expenses to the underwriting result • Insurance & Services COR was 90.4% and Reinsurance COR was 69.3%, 5 ppts and 30 ppts better quarter on quarter, respectively, while we benefited from the reserve releases linked to LPT 5 5 5 PYD4 ratio 16 ppts Cat ratio flat Attritional ratio3 1 ppt

For information purposes only Investment Income: De-Risked and Benefiting from Rate Increases 10 $ numbers in USD millions Key Comments Notes: [1] Total investment result calculated as the sum of net realized and unrealized investment gains (losses), net realized and unrealized investment gains from related party investment funds and net investment income. [2] MTM = Mark to Market. $220-$240 Net Investment Income Total Investment Result1 • Investment strategy focused on high quality fixed income instruments yielding results • Net investment income (NII) higher at $62m (vs. $8m in Q1'22) • Total investment result1 higher at $74m (vs. ($205m) in Q1'22) with significantly lower impact from MTM2 movements • P&L volatility lower in part due to designation of the new fixed income (FI) investments as available for sale (“AFS”) • 76% of our FI investments classified as “AFS” (vs. 63% as of YE 22 and none as of YE 21) • Invested >$500m during Q1'23 and around $1bn YTD into Corporate and Asset Backed Securities with average re- investment rate >4% during Q1'23 • Assets backing loss reserves duration stable at ~2.5 years • Overall asset duration increased to ~2.1 years up from ~1.8 years at YE 22

For information purposes only TPE Short-term Investments (STI) De-risked Investment Portfolio: In-line with Industry 11 Q1'23: $6.7bn Notes: [1] Other includes Strategics, TP Ventures and Legacy & Other Alts. [2] Third Point Enhanced Fund. [3] Excludes short-term investments. [4] Tangible diluted common shareholders’ equity attributable to SiriusPoint common shareholders. [5] Total asset leverage calculated as sum of total investments including cash and equivalents over tangible diluted common shareholders’ equity attributable to SiriusPoint common shareholders. Q4'22: $6.6bn 1 2 AAA AA A BBB Not Rated / Below IG Gov’t ABS/MBS/CLO Cash Corporate Other Q1'23 Fixed Income Portfolio Credit Quality3 Key Comments • Total investment portfolio relatively stable at $6.7bn • No direct exposure to SVB, Signature Bank and First Republic or other regional banks in the investment portfolio • Average credit rating at AA for our fixed income portfolio with limited exposure to below investment grade/non- rated fixed income instruments • 70% of the portfolio is fixed income (ex. STI), of which 93% is investment grade • As a percentage of tangible common shareholders’ equity4: • BBB represents 22% • Below investment grade / non-rated represents 19% • Total asset leverage5 at 3.6x (vs. YE 22: 3.8x) Investment Balances by Asset Class

For information purposes only 12 Notes: [1] SiriusPoint Group BSCR calculated as available economic capital and surplus divided by the enhanced capital requirement as of September 30, 2022 and December 31, 2022, respectively. Q4'22 BSCR is an estimate. [2] Financial strength ratings for the operating subsidiaries, SiriusPoint International Insurance Corporation, SiriusPoint Bermuda Insurance Company, SiriusPoint America Insurance Company and SiriusPoint Specialty Insurance Corporation. [3] Q3’22 and Q4'22 available capital split is our internal view. [4] Debt to Capital Ratio calculated as debt divided by total capital. Total capital represents the sum of shareholders’ equity and debt. Debt in this calculation excludes preference shares. Strong Balance Sheet 194% 217% • Continue to operate the business against 'AA’ rating requirement under S&P model • Capital release of ~$150m from LPT to further strengthen our balance sheet upon closing • BSCR up to 217% as of Q4'22 with LPT to further improve by >15 ppts • Financial leverage reduced during Q1'23 and remains within target range at 25.8% debt to capital ratio4 (vs. YE 22: 27.3%) • Fitch upgraded outlook to ‘Stable’ and reaffirmed rating. AM Best affirmed rating and outlook Financial Strength Rating (FSR)2: Key Comments A- (Stable) A- (Negative) A- (Stable) Revised March 22, 2023 Reviewed January 25, 2023 Affirmed April 19, 2023 SiriusPoint Group Available Capital3 BSCR1 $ numbers in USD millions

For information purposes only Thank You

EX-99.4

SiriusPoint Announces Dividend on Series B Preference Shares

HAMILTON, Bermuda May 3, 2023 -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), an international specialty insurer and reinsurer, has announced that the Board of Directors of SiriusPoint Ltd. approved a quarterly cash dividend of $0.50 per share on its 8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share payable on May 31, 2023 to Series B shareholders of record as of May 15, 2023.

About SiriusPoint

SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents within our Insurance & Services segment. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information please visit www.siriuspt.com.

SiriusPoint Contacts

Investor Relations

Dhruv Gahlaut, Head of Investor Relations and Chief Strategy Officer

Dhruv.gahlaut@siriuspt.com

+44 7514 659 918

Media

Clare Kerrigan - Chief Communications Officer

Clare.kerrigan@siriuspt.com

+ 44 7720 163 949

XML

Cover Document	May 03, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 03, 2023
Entity Registrant Name	SIRIUSPOINT LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-1599372
Entity Address, Street Address	Point Building
Entity Address, Street Address 2	3 Waterloo Lane
Entity Address, City	Pembroke
Entity Address, Postal Zip Code	HM 08
Entity Address, Country	BM
City Area Code	441
Local Phone Number	542-3300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001576018
Amendment Flag	false
Entity File Number	001-36052
Common Stock
Cover [Abstract]
Title of each class	Common Shares, $0.10 par value
Trading Symbol	SPNT
Name of each exchange on which registered	NYSE
Document Information [Line Items]
Title of each class	Common Shares, $0.10 par value
Trading Symbol	SPNT
Name of each exchange on which registered	NYSE
8.00% Resettable Fixed Rate Preference Shares, Series B
Cover [Abstract]
Title of each class	8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share
Trading Symbol	SPNT PB
Name of each exchange on which registered	NYSE
Document Information [Line Items]
Title of each class	8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share
Trading Symbol	SPNT PB
Name of each exchange on which registered	NYSE