Form 8-K - Current report

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): August 1, 2024 (August 1, 2024)

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 August 1, 2024, SiriusPoint Ltd. issued a press release reporting its financial results for the second quarter ended June 30, 2024 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 August 1, 2024, SiriusPoint Ltd. made available to investors its second 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.

In July 2024, SiriusPoint’s board of directors (the “Board”) authorized SiriusPoint to repurchase up to an additional $250.0 million of SiriusPoint’s common shares, par value $0.10 per share. Together with amounts remaining available under previously announced share repurchase authorizations, SiriusPoint is authorized to repurchase up to $306.3 million of SiriusPoint’s common shares in the aggregate. The share repurchase program does not have an expiration date.

Under the share repurchase program, SiriusPoint may repurchase its common stock from time to time, in amounts, at prices and at times SiriusPoint deems appropriate in its sole discretion, subject to market conditions and other considerations. The share repurchases may be effected through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades and accelerated share repurchase programs, including in accordance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, or any combination of such methods.

On August 1, 2024, SiriusPoint entered into a Confidential Settlement and Mutual Release Agreement (the “Settlement Agreement”), and concurrently therewith, a Share Repurchase Agreement (the “Share Repurchase Agreement” and, collectively with the Settlement Agreement, the “Agreement”), in each case, with CM Bermuda Limited (the “Seller”) and CMIG International Holding Pte. Ltd. (“CMIH”).

The Settlement Agreement provides, among other things, that SiriusPoint will pay the Seller in full satisfaction and discharge of all obligations and any and all other claims of any nature related to SiriusPoint’s Series A preference shares, par value of $0.10 per share (the “Series A Preferred”), held by the Seller and the related Certificate of Designation of Series A Preference Shares of SiriusPoint. The Settlement Agreement contains customary representations, warranties and covenants of the parties. As a result of the transactions contemplated by the Settlement Agreement, all Series A Preferred shares held by the Seller will be cancelled and retired at the closing of the transactions contemplated by the Settlement Agreement.

The Share Repurchase Agreement provides that SiriusPoint will repurchase 9,077,705 common shares of SiriusPoint (the “Sale Shares”) from the Seller (the “Share Repurchase”) for an aggregate consideration of approximately $125.0 million. The Share Repurchase Agreement contains customary representations, warranties and covenants of the parties. The Sale Shares will be cancelled and retired at the closing of the Share Repurchase. The repurchase of common shares from the Seller will be pursuant to the share repurchase program.

SiriusPoint will pay the Seller a total consideration of approximately $261.0 million upon the closing of the transactions contemplated by the Agreement, which is expected to occur in the third quarter of 2024.

The Board approved the Agreement and the transactions contemplated thereby.

For more information on the Seller’s and CMIH’s relationship to SiriusPoint, please refer to SiriusPoint’s Definitive Proxy Statement filed on April 9, 2024.

On August 1, 2024, SiriusPoint issued a press release that included the announcement of the transactions contemplated by the Agreement.

On August 1, 2024, the Audit Committee of 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 August 30, 2024 to Series B shareholders of record as of August 15, 2024. 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 August 1 , 2024, announcing the earnings of SiriusPoint Ltd. for the Second Quarter Ended June 3 0 , 2024.
99.2						S econd Quarter Ended June 30, 2024 Financial Supplement.
99.3						SiriusPoint Ltd. Presentation to Investors, dated August 1 , 2024.
99.4						Press Release dated August 1 , 2024, 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: August 1, 2024	/s/ Scott Egan
	Name:	Scott Egan
	Title:	Chief Executive Officer

SiriusPoint reports seventh consecutive quarter of underwriting profits and strong net income at $109.9m

HAMILTON, Bermuda, August 1, 2024 - SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) today announced results for its second quarter ended June 30, 2024

•Half year core combined ratio of 92.5%, or 92.8% ex. LPT, representing a 1.0 point improvement versus prior year

•Strong growth in the quarter of 22% on gross written premiums for continuing lines business (excluding 2023 exited programs), contributing to 6% growth for the half year

•Half year core underwriting income of $81 million, or $78 million ex. LPT, up 11% on prior year

•Balance sheet further strengthened with Q2’24 BSCR estimate at 284%

•Headline annualized ROE of 16.7% at half year, with underlying ROE adjusted for MGA actions of 13.0%, tracking within 12-15% medium-term guidance range

•$125 million share repurchase (9.1 million shares) from CMIG in conjunction with full settlement of Series A Preference shares in cash

•Board share repurchase authorization increased to a total of $306 million

Scott Egan, Chief Executive Officer, said: “We have continued to execute on our ambition to deliver consistent and stable earnings that create long-term shareholder value. We had another strong quarter, our seventh consecutive quarter of positive underwriting income. We report a Combined ratio for the Core operations of 92.5% for the half year, or 92.8% excluding the loss portfolio transfer, which is a 1.0 point improvement over the prior year period on a like-for-like basis. We are growing our continuing lines premium in our target areas of North America programs, International and Specialty. Q2 was strong in this regard with growth in gross premiums of 22% for continuing lines business. We have increased our full year 2024 net investment income guidance to $275 million to $285 million up from $250 million to $265 million. Net service fee income from our Consolidated MGAs increased by 6.5% with an improved service margin of 23.9% for the half year. Net income increased to over $200 million for the half year.

We continue to rationalize our MGA equity stakes and realize the significant off-balance sheet value of our Consolidated MGAs. Our total equity stakes in MGAs is down to 22 compared to 36 at the start of 2023. We have also added 11 new distribution partnerships since the start of 2024 providing further evidence of our intent to grow through distribution partnerships in our targeted areas.

We remain focused on improving our performance, delivering an underlying ROE adjusted for MGA actions of 13.0% within our 12-15% guidance range and growing book value over the medium term. We will continue to drive improvement in 2024 and beyond as we move closer towards our best-in-class ambitions.

Bolstered by another quarter of strong underwriting results and the completion of our previously announced debt actions, our balance sheet is the strongest it has ever been. Q2'24 BSCR estimate is 284%. This enabled us to reach an agreement for the cash settlement of the Series A Preference shares, purchase and retire $125 million in common stock from CMIG and announce a share buyback authorization increase to $306 million. These actions attest to our belief in the compelling value of our shares and capital position, which is enhanced by strong performance and relentless execution.”

Second Quarter 2024 Highlights

•Net income available to SiriusPoint common shareholders of $109.9 million, or $0.57 per diluted common share

•Core income of $46.0 million, including underwriting income of $36.9 million, Core combined ratio of 93.3%

•Core net services fee income of $9.7 million, with service margin of 16.9%

•Net investment income of $78.2 million and total investment result of $23.3 million

•Book value per diluted common share increased $0.67 per share, or 4.9%, from March 31, 2024 to $14.31

•Return on average common equity of 17.9%

•Debt to capital ratio down to 19.3% compared to 22.8% as of March 31, 2024.

Half Year 2024 Highlights

•Net income available to SiriusPoint common shareholders of $200.7 million, or $1.05 per diluted common share

•Core income of $108.4 million, including underwriting income of $81.2 million, Core combined ratio of 92.5%

•Core net services fee income of $29.5 million, with service margin of 23.9%

•Net investment income of $157.0 million and total investment result of $103.1 million

•Book value per diluted common share increased $0.96 per share, or 7.2%, from December 31, 2023 to $14.31

•Return on average common equity of 16.7%

•Debt to capital ratio down to 19.3% compared to 23.8% as of December 31, 2023.

Key Financial Metrics

The following table shows certain key financial metrics for the three and six months ended June 30, 2024 and 2023:


	Three months ended						Six months ended
	June 30, 2024			June 30, 2023			June 30, 2024			June 30, 2023
	($ in millions, except for per share data and ratios)
Combined ratio	89.0		%	83.0		%	87.0		%	78.4		%
Core underwriting income (1)	$	36.9		$	63.3		$	81.2		$	170.7
Core net services income (1)	$	9.1		$	7.7		$	27.2		$	24.4
Core income (1)	$	46.0		$	71.0		$	108.4		$	195.1
Core combined ratio (1)	93.3		%	89.4		%	92.5		%	85.1		%
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders	17.9		%	11.0		%	16.7		%	19.2		%
Book value per common share (2)	$	14.68		$	13.76		$	14.68		$	13.76
Book value per diluted common share (2)	$	14.31		$	13.35		$	14.31		$	13.35
Tangible book value per diluted common share (1) (2)	$	13.47		$	12.47		$	13.47		$	12.47

(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, 2023.

Second Quarter 2024 Summary

Consolidated underwriting income for the three months ended June 30, 2024 was $65.1 million compared to $108.9 million for the three months ended June 30, 2023. The decrease was driven by lower favorable prior year loss reserve development. Favorable prior year loss reserve development for the three months ended June 30, 2023 included $16.6 million driven by reserving analyses performed in connection with the 2023 LPT. Excluding the favorable development linked to the 2023 LPT, net underwriting income decreased by $29.3 million for the three months ended June 30, 2024 compared to the three months ended June 30, 2023. This decrease is consistent with our change in business mix, decreasing exposure to more volatile lines of business and growing A&H and International Insurance within the Insurance & Services segment.

Consolidated underwriting income for the six months ended June 30, 2024 was $154.7 million compared to $265.4 million for the six months ended June 30, 2023. The decrease was driven by lower favorable prior year loss reserve development. Favorable prior year loss reserve development for the six months ended June 30, 2023 included $118.2 million driven by reserving analyses performed in connection with the 2023 LPT. Excluding the favorable development linked to the 2023 LPT, underwriting income increased by $4.6 million primarily driven by lower other underwriting expenses resulting from our cost savings program, partially offset by higher acquisition costs driven by business mix changes, including the growth of Insurance & Services.

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.

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 Premium Volume

Three months ended June 30, 2024 and 2023

Gross premiums written increased by $37.5 million, or 4.7%, to $842.7 million for the three months ended June 30, 2024 compared to $805.2 million for the three months ended June 30, 2023. Net premiums earned decreased by $42.8 million, or 7.2%, to $553.4 million for the three months ended June 30, 2024 compared to $596.2 million for the three months ended June 30, 2023. The increases in premiums written were primarily driven by increases from Insurance & Services from strategic organic and new program growth, as well as increases across A&H. These increases were partially offset by the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a cyber program to another carrier, which also was the main driver of the decrease in premiums earned.

Six months ended June 30, 2024 and 2023

Gross premiums written decreased by $142.0 million, or 7.6%, to $1,723.4 million for the six months ended June 30, 2024 compared to $1,865.4 million for the six months ended June 30, 2023. Net premiums earned decreased by $75.7 million, or 6.6%, to $1,071.2 million for the six months ended June 30, 2024 compared to $1,146.9 million for the six months ended June 30, 2023. The decreases in premium volume were primarily due to the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, with the most significant offset being strategic organic and new program growth.

Core Results

Three months ended June 30, 2024 and 2023

Core results for the three months ended June 30, 2024 included income of $46.0 million compared to $71.0 million for the three months ended June 30, 2023. Income for the three months ended June 30, 2024 consists of underwriting income of $36.9 million (93.3% combined ratio) and net services income of $9.1 million, compared to underwriting income of $63.3 million (89.4% combined ratio) and net services income of $7.7 million for the three months ended June 30, 2023. The decrease in net underwriting results was primarily driven by decreased favorable prior year loss reserve development.

Losses incurred included $4.9 million of favorable prior year loss reserve development for the three months ended June 30, 2024 primarily driven by favorable development within North America A&H, compared to $25.2 million for the three months ended June 30, 2023 driven by reserving analyses performed in connection with the 2023 LPT.

Excluding the favorable development linked to the 2023 LPT, net underwriting income decreased by $17.7 million for the three months ended June 30, 2024 compared to the three months ended June 30, 2023. This decrease was driven by higher acquisition costs driven by business mix changes to decrease our exposure to more volatile lines of business, as well as $5.6 million catastrophe losses for the three months ended June 30, 2024 compared to no significant catastrophe losses the three months ended June 30, 2023, partially offset by lower attritional losses.

Six months ended June 30, 2024 and 2023

Core results for the three months ended June 30, 2024 included income of $108.4 million compared to $195.1 million for the three months ended June 30, 2023. Income for the three months ended June 30, 2024 consists of underwriting income of $81.2 million (92.5% combined ratio) and net services income of $27.2 million, compared to underwriting income of $170.7 million (85.1% combined ratio) and net services income of $24.4 million for the three months ended June 30, 2023. The decrease in net underwriting results was primarily driven by decreased favorable prior year loss reserve development.

Losses incurred included $12.9 million of favorable loss reserve development for the six months ended June 30, 2024 driven by decreased ultimate losses in the Credit Reinsurance portfolio and North America A&H, partially offset by increases in the Environmental business, compared to $117.1 million of favorable loss reserve development for the six months ended June 30, 2023 driven by decreases in the domestic and international property and casualty lines of business in the Reinsurance segment and A&H in the Insurance & Services segment linked to the 2023 LPT.

Excluding the favorable development linked to the 2023 LPT, net underwriting income increased by $7.7 million primarily driven by lower other underwriting expenses resulting from our cost savings program and lower attritional losses, partially offset by higher acquisition costs from business mix changes, including the growth of Insurance & Services.

Reinsurance Segment

Three months ended June 30, 2024 and 2023

Reinsurance gross premiums written were $352.5 million for the three months ended June 30, 2024, a decrease of $5.2 million, or 1.5%, compared to the three months ended June 30, 2023, primarily driven by lower premiums written in New York Casualty, partially offset by increases in Bermuda Property.

Reinsurance generated underwriting income of $25.0 million (90.2% combined ratio) for the three months ended June 30, 2024, compared to underwriting income of $61.8 million (77.3% combined ratio) for the three months ended June 30, 2023. The decrease in net underwriting results was primarily due to decreased favorable prior year loss reserve development, as well as higher acquisition costs driven by business mix changes. Net favorable prior year loss reserve development for the three months ended June 30, 2024 was $6.3 million primarily driven by favorable development on a structured auto contract and Aviation, compared to $25.9 million for the three months ended June 30, 2023, which was driven by reserving analyses performed in connection with the 2023 LPT.

Catastrophe losses, net of reinsurance and reinstatement premiums, for the three months ended June 30, 2024, were $3.0 million or 1.2 percentage points on the combined ratio, compared to no significant catastrophe losses, net of reinsurance and reinstatement premiums, for the three months ended June 30, 2023.

Six months ended June 30, 2024 and 2023

Reinsurance gross premiums written were $708.9 million for the six months ended June 30, 2024, a decrease of $45.0 million, or 6.0%, compared to the six months ended June 30, 2023, primarily driven by lower premiums written in New York Casualty and Bermuda Specialty, partially offset by increases in London Specialty.

Reinsurance generated underwriting income of $64.9 million (87.2% combined ratio) for the three months ended June 30, 2024, compared to underwriting income of $141.5 million (73.4% combined ratio) for the three months ended June 30, 2023. The decrease in net underwriting results was primarily due to decreased favorable prior year loss reserve development. Net favorable prior year loss reserve development was $16.6 million for the six months ended June 30, 2024 primarily driven by decreased ultimate losses in the Credit Reinsurance portfolio, compared to net favorable prior year loss reserve development of $100.5 million for the six months ended June 30, 2023 primarily driven by decreases in the domestic and international Property and Casualty lines of business linked to the 2023 LPT.

Catastrophe losses, net of reinsurance and reinstatement premiums, for the six months ended June 30, 2024, were $3.0 million or 0.6 percentage points on the combined ratio, compared to $6.0 million or 1.1 percentage points on the combined ratio, for the six months ended June 30, 2023.

Insurance & Services Segment

Three months ended June 30, 2024 and 2023

Insurance & Services gross premiums written were $490.2 million for the three months ended June 30, 2024, an increase of $42.7 million, or 9.5%, compared to the three months ended June 30, 2023, primarily driven by strategic organic and new program growth, as well as increases across A&H, partially offset by the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, representing $117.0 million of gross premiums written for the three months ended June 30, 2023.

Insurance & Services generated segment income of $21.0 million for the three months ended June 30, 2024, compared to income of $12.0 million for the three months ended June 30, 2023. Segment income for the three months ended June 30, 2024 consists of underwriting income of $11.9 million (96.0% combined ratio) and net services income of $9.1 million, compared to underwriting income of $1.5 million (99.6% combined ratio) and net services income of $10.5 million for the three months ended June 30, 2023. The improvement in underwriting results was primarily driven by increased profitability in North America A&H and growth in the Arcadian business.

Six months ended June 30, 2024 and 2023

Insurance & Services gross premiums written decreased by $97.0 million, or 8.7%, for the six months ended June 30, 2024 compared to the six months ended June 30, 2023, primarily driven by the movement of certain lines from Insurance & Services to Corporate, including the non-renewal of a Workers’ Compensation program and the planned transition of a Cyber program to another carrier, representing $233.8 million of gross premiums written for the six months ended June 30, 2023, as well as lower A&H premiums, partially offset by strategic organic and new program growth.

Insurance & Services generated segment income of $43.5 million for the six months ended June 30, 2024, compared to income of $56.2 million for the six months ended June 30, 2023. Segment income for the six months ended June 30, 2024 consists of underwriting income of $16.3 million (97.1% combined ratio) and net services income of $27.2 million, compared to underwriting income of $29.2 million (95.3% combined ratio) and net services income of $27.0 million for the six months ended June 30, 2023. The decrease in underwriting income of $12.9 million for the six months ended June 30, 2024 compared to the six months ended June 30, 2023 was primarily driven by net adverse prior year loss reserve development of $3.7 million for the six months ended June 30, 2024, compared to net favorable prior year loss reserve development of $16.6 million for the six months ended June 30, 2023, which was driven by reserving analyses performed in connection with the 2023 LPT.

Corporate

Three months ended June 30, 2024 and 2023

Corporate results include all runoff business, which represents certain classes of business that we no longer actively underwrite, including the effect of the including the effect of the restructuring of the underwriting platform announced in 2022 and certain reinsurance contracts that have interest crediting features. Corporate results also include asbestos and environmental and other latent liability exposures on a gross basis, which have mostly been ceded, as well as specific workers’ compensation and cyber programs which we no longer write. The decrease in underwriting income is primarily driven by a decrease in favorable prior year loss reserve development for the three months ended June 30, 2024 compared to the three months ended June 30, 2023, which was associated with the 2023 LPT.

Six months ended June 30, 2024 and 2023

The decrease in underwriting income is driven by a decrease in favorable prior year loss reserve development for the six months ended June 30, 2024 compared to the six months ended June 30, 2023, which was associated with the 2023 LPT. For the six months ended June 30, 2024, the increase in acquisition costs, net was due to increased commissions on a sliding scale commission contract that experienced favorable development in the period.

Investments

Three months ended June 30, 2024 and 2023

Total net investment income and realized and unrealized investment gains for the three months ended June 30, 2024 was primarily attributable to net investment income related to interest income from our debt and short-term investment portfolio of $70.1 million, partially offset by unrealized losses on other long-term investments of $40.6 million. Increased investment income is primarily due to increased interest rates and our rotation of the portfolio from cash and cash equivalents and U.S. government and government agency positions to high-grade corporate debt and other securitized assets, in an effort to better diversify our portfolio. Losses on private other long-term investments were the result of updated fair value analyses consistent with current insurtech market trends and disposals of positions as the Company executes its strategy to focus on underwriting relationships with MGAs.

Total net investment income and realized and unrealized investment gains for the three months ended June 30, 2023 was primarily attributable to investment results from our debt and short-term investment portfolio of $64.9 million driven by dividend and interest income primarily on U.S. treasury bill and corporate debt positions.

Six months ended June 30, 2024 and 2023

Total net investment income and realized and unrealized investment gains for the six months ended June 30, 2024 was primarily attributable to net investment income related to interest income from our debt and short-term investment portfolio of $147.0 million. Increased investment income is primarily due to increased interest rates and our rotation of the portfolio from cash and cash equivalents and U.S. government and government agency positions to high-grade corporate debt and other securitized assets, in an effort to better diversify our portfolio. Losses on private other long-term investments were the result of updated fair value analyses consistent with the current insurtech market.

Total net investment income and realized and unrealized investment gains for the six months ended June 30, 2023 was primarily attributable to net investment income related to interest income from our debt and short-term investment portfolio of $137.5 million. Increased dividend and investment income is due to the ongoing re-positioning of the portfolio to focus on investing in high grade fixed income securities.

Second Quarter Subsequent Events

Share Repurchase Program

SiriusPoint announced today that in July 2024, the Company’s Board of Directors authorized the Company to repurchase up to an additional $250.0 million of the Company’s common shares. Together with amounts remaining available under previously announced share repurchase authorizations, the Company is authorized to repurchase up to $306.3 million of the Company’s common shares in the aggregate. The share repurchase program does not have an expiration date.

Under the share repurchase program, the Company may repurchase its common stock from time to time, in amounts, at prices and at times the Company deems appropriate in its sole discretion, subject to market conditions and other considerations. The share repurchases may be effected through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades and accelerated share repurchase programs, including in accordance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, or any combination of such methods.

CM Bermuda Settlement and Share Repurchase

On August 1, 2024, the Company entered into a Confidential Settlement and Mutual Release Agreement (the “Settlement Agreement”), and concurrently therewith, a Share Repurchase Agreement (the “Share Repurchase Agreement” and, together with the Settlement Agreement, collectively the “Agreement”), in each case, with CM Bermuda Limited (the “Seller”) and CMIG International Holding Pte. Ltd. (“CMIH”).

The Settlement Agreement provides, among other things, that the Company will pay the Seller for full satisfaction and discharge of all obligations and all other claims of any nature related to the Company’s Series A Preference Shares held by the Seller and the related Certificate of Designation of Series A Preference Shares of the Company. The Share Repurchase Agreement provides that the Company will repurchase 9,077,705 of the Company’s issued and outstanding common shares held by the Seller, for an aggregate consideration of approximately $125 million, pursuant to the share repurchase program.

The Company will pay the Seller a total consideration of approximately $261.0 million upon the closing of the transactions contemplated by the Agreement, which is expected to occur in the third quarter of 2024.

Webcast Details

The Company will hold a webcast to discuss its second quarter 2024 results at 8:30 a.m. Eastern Time on August 2, 2024. 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 1-877-451-6152 (domestic) or 1-201-389-0879 (international). Participants should ask for the SiriusPoint Ltd. second quarter 2024 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,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “guidance,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. These statements also include, but are not limited to, statements regarding the transactions contemplated by the Agreement. 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; 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 interest rates, and foreign currency fluctuations; our ability to compete successfully in the insurance and reinsurance market and the effect of consolidation in the insurance and reinsurance 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; geopolitical uncertainty, including the ongoing conflicts in Europe and the Middle East; 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 exposure or potential exposure to corporate income tax in Bermuda and the E.U., 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, managing general underwriters and/or program administrators; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from any 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. Additionally, the transactions contemplated by the Agreement are subject to risks and uncertainties and factors that could cause the Company’s actual results to differ from those statements herein including, but not limited to: that the Company may be unable to complete the proposed transactions because, among other reasons, conditions to the closing of the proposed transactions are not be satisfied or waived; the occurrence of any event, change or other circumstance that could give rise to the termination of the Agreement; and the outcome of any legal proceedings to the extent initiated against the Company or others following the announcement of the proposed transaction, as well as the Company’s response to any of the aforementioned factors.

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 directly comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes intangible assets. 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. Tangible book value per diluted common share is useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.

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 and Program Administrators. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Stable) from AM Best, S&P and Fitch, and A3 (Stable) from Moody’s. For more information please visit www.siriuspt.com.

Contacts

Investor Relations

Sarah Singh, VP, Strategy and Investor Relations

Sarah.singh@siriuspt.com

+1 646 884 4310

Media

Natalie King, Global Head of Marketing and External Communications

Natalie.king@siriuspt.com

+ 44 20 3772 3102

SIRIUSPOINT LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of June 30, 2024 and December 31, 2023

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



	June 30, 2024		December 31, 2023
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses of $0.0 (2023 - $0.0) (cost - $5,375.5; 2023 - $4,754.6)	$	5,345.3	$	4,755.4
Debt securities, trading, at fair value (cost - $330.6; 2023 - $568.1)	307.7		534.9
Short-term investments, at fair value (cost - $97.9; 2023 - $370.8)	97.5		371.6
Investments in related party investment funds, at fair value	106.6		105.6
Other long-term investments, at fair value (cost - $328.4; 2023 - $356.2) (includes related party investments at fair value of $146.0 (2023 - $173.7))	241.7		308.5
Equity securities, at fair value (cost - $0.0; 2023 - $1.9)	—		1.6
Total investments	6,098.8		6,077.6
Cash and cash equivalents	598.1		969.2
Restricted cash and cash equivalents	125.9		132.1

Redemption receivable from related party investment fund	—		3.0
Due from brokers	28.6		5.6
Interest and dividends receivable	50.7		42.3
Insurance and reinsurance balances receivable, net	2,120.2		1,966.3
Deferred acquisition costs, net	341.9		308.9
Unearned premiums ceded	496.1		449.2
Loss and loss adjustment expenses recoverable, net	2,191.5		2,295.1
Deferred tax asset	285.1		293.6
Intangible assets	146.8		152.7

Other assets	280.3		175.9
Total assets	$	12,764.0	$	12,871.5
Liabilities
Loss and loss adjustment expense reserves	$	5,606.0	$	5,608.1
Unearned premium reserves	1,769.7		1,627.3
Reinsurance balances payable	1,544.5		1,736.7
Deposit liabilities	22.1		134.4
Deferred gain on retroactive reinsurance	23.0		27.9
Debt	648.6		786.2


Due to brokers	40.2		6.2
Deferred tax liability	56.1		68.7
Liability-classified capital instruments	72.6		67.3
Accounts payable, accrued expenses and other liabilities	275.7		278.1
Total liabilities	10,058.5		10,340.9
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: 170,572,790; 2023 - 168,120,022)	17.1		16.8
Additional paid-in capital	1,713.3		1,693.0
Retained earnings	801.7		601.0
Accumulated other comprehensive income (loss), net of tax	(28.0)		3.1
Shareholders’ equity attributable to SiriusPoint shareholders	2,704.1		2,513.9
Noncontrolling interests	1.4		16.7
Total shareholders’ equity	2,705.5		2,530.6
Total liabilities, noncontrolling interests and shareholders’ equity	$	12,764.0	$	12,871.5

SIRIUSPOINT LTD.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

For the three and six months ended June 30, 2024 and 2023

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


	Three months ended				Six months ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Revenues
Net premiums earned	$	590.5	$	639.7	$	1,184.3	$	1,235.2
Net investment income	78.2		68.5		157.0		130.2
Net realized and unrealized investment gains (losses)	(55.9)		(1.8)		(54.9)		9.5
Net realized and unrealized investment gains (losses) from related party investment funds	1.0		(0.9)		1.0		(0.1)
Net investment income and net realized and unrealized investment gains (losses)	23.3		65.8		103.1		139.6
Other revenues	129.5		5.3		141.4		14.1
Total revenues	743.3		710.8		1,428.8		1,388.9
Expenses
Loss and loss adjustment expenses incurred, net	364.4		375.7		681.9		642.8
Acquisition costs, net	119.9		111.8		264.8		231.5
Other underwriting expenses	41.1		43.3		82.9		95.5
Net corporate and other expenses	66.6		70.3		122.6		130.3
Intangible asset amortization	3.0		2.9		5.9		5.3
Interest expense	15.7		11.7		36.2		24.5
Foreign exchange (gains) losses	3.6		17.4		(0.1)		17.5
Total expenses	614.3		633.1		1,194.2		1,147.4
Income before income tax expense	129.0		77.7		234.6		241.5
Income tax expense	(14.2)		(15.8)		(23.9)		(41.3)
Net income	114.8		61.9		210.7		200.2
Net income attributable to noncontrolling interests	(0.9)		(2.0)		(2.0)		(4.4)
Net income available to SiriusPoint	113.9		59.9		208.7		195.8
Dividends on Series B preference shares	(4.0)		(4.0)		(8.0)		(8.0)
Net income available to SiriusPoint common shareholders	$	109.9	$	55.9	$	200.7	$	187.8
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders	$	0.60	$	0.32	$	1.11	$	1.08
Diluted earnings per share available to SiriusPoint common shareholders	$	0.57	$	0.31	$	1.05	$	1.05
Weighted average number of common shares used in the determination of earnings per share
Basic	170,173,022		162,027,831		169,453,656		161,473,011
Diluted	178,711,254		166,708,932		178,085,119		165,997,198

SIRIUSPOINT LTD.

SEGMENT REPORTING


	Three months ended June 30, 2024
	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	352.5		$	490.2		$	842.7		$	—	$	21.8	$	—	$	864.5
Net premiums written	308.8			341.1			649.9			—		(6.3)		—		643.6
Net premiums earned	256.2			297.2			553.4			—		37.1		—		590.5
Loss and loss adjustment expenses incurred, net	143.8			192.2			336.0			(1.3)		29.7		—		364.4
Acquisition costs, net	67.2			75.8			143.0			(36.5)		13.4		—		119.9
Other underwriting expenses	20.2			17.3			37.5			—		3.6		—		41.1
Underwriting income (loss)	25.0			11.9			36.9			37.8		(9.6)		—		65.1
Services revenues	—			57.4			57.4			(34.4)		—		(23.0)		—
Services expenses	—			47.7			47.7			—		—		(47.7)		—
Net services fee income	—			9.7			9.7			(34.4)		—		24.7		—
Services noncontrolling income	—			(0.6)			(0.6)			—		—		0.6		—

Net services income	—			9.1			9.1			(34.4)		—		25.3		—
Segment income (loss)	25.0			21.0			46.0			3.4		(9.6)		25.3		65.1
Net investment income												78.2		—		78.2
Net realized and unrealized investment losses												(55.9)		—		(55.9)
Net realized and unrealized investment gains from related party investment funds												1.0		—		1.0
Other revenues												106.5		23.0		129.5
Net corporate and other expenses												(18.9)		(47.7)		(66.6)
Intangible asset amortization												(3.0)		—		(3.0)
Interest expense												(15.7)		—		(15.7)
Foreign exchange losses												(3.6)		—		(3.6)
Income before income tax expense	$	25.0		$	21.0		46.0			3.4		79.0		0.6		129.0
Income tax expense							—			—		(14.2)		—		(14.2)
Net income							46.0			3.4		64.8		0.6		114.8
Net income attributable to noncontrolling interest							—			—		(0.3)		(0.6)		(0.9)
Net income available to SiriusPoint							$	46.0		$	3.4	$	64.5	$	—	$	113.9

Underwriting Ratios: (1)
Loss ratio	56.1		%	64.7		%	60.7		%							61.7		%
Acquisition cost ratio	26.2		%	25.5		%	25.8		%							20.3		%
Other underwriting expenses ratio	7.9		%	5.8		%	6.8		%							7.0		%
Combined ratio	90.2		%	96.0		%	93.3		%							89.0		%

(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 June 30, 2023
	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	357.7		$	447.5		$	805.2		$	—	$	37.3	$	—	$	842.5
Net premiums written	311.9			276.4			588.3			—		37.3		—		625.6
Net premiums earned	271.8			324.4			596.2			—		43.5		—		639.7
Loss and loss adjustment expenses incurred, net	146.7			216.7			363.4			(1.5)		13.8		—		375.7
Acquisition costs, net	51.3			80.7			132.0			(35.9)		15.7		—		111.8
Other underwriting expenses	12.0			25.5			37.5			—		5.8		—		43.3
Underwriting income	61.8			1.5			63.3			37.4		8.2		—		108.9
Services revenues	(2.8)			62.2			59.4			(36.9)		—		(22.5)		—
Services expenses	—			50.0			50.0			—		—		(50.0)		—
Net services fee income (loss)	(2.8)			12.2			9.4			(36.9)		—		27.5		—
Services noncontrolling income	—			(1.7)			(1.7)			—		—		1.7		—

Net services income (loss)	(2.8)			10.5			7.7			(36.9)		—		29.2		—
Segment income	59.0			12.0			71.0			0.5		8.2		29.2		108.9
Net investment income												68.5		—		68.5
Net realized and unrealized investment losses												(1.8)		—		(1.8)
Net realized and unrealized investment losses from related party investment funds												(0.9)		—		(0.9)
Other revenues												(17.2)		22.5		5.3
Net corporate and other expenses												(20.3)		(50.0)		(70.3)
Intangible asset amortization												(2.9)		—		(2.9)
Interest expense												(11.7)		—		(11.7)
Foreign exchange losses												(17.4)		—		(17.4)
Income before income tax expense	$	59.0		$	12.0		71.0			0.5		4.5		1.7		77.7
Income tax expense							—			—		(15.8)		—		(15.8)
Net income (loss)							71.0			0.5		(11.3)		1.7		61.9
Net income attributable to noncontrolling interest							—			—		(0.3)		(1.7)		(2.0)
Net income (loss) available to SiriusPoint							$	71.0		$	0.5	$	(11.6)	$	—	$	59.9

Underwriting Ratios: (1)
Loss ratio	54.0		%	66.8		%	61.0		%							58.7		%
Acquisition cost ratio	18.9		%	24.9		%	22.1		%							17.5		%
Other underwriting expenses ratio	4.4		%	7.9		%	6.3		%							6.8		%
Combined ratio	77.3		%	99.6		%	89.4		%							83.0		%

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


	Six months ended June 30, 2024
	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	708.9		$	1,014.5		$	1,723.4		$	—	$	47.7	$	—	$	1,771.1
Net premiums written	598.9			678.2			1,277.1			—		5.8		—		1,282.9
Net premiums earned	509.8			561.4			1,071.2			—		113.1		—		1,184.3
Loss and loss adjustment expenses incurred, net	268.4			368.7			637.1			(2.7)		47.5		—		681.9
Acquisition costs, net	137.0			141.0			278.0			(69.7)		56.5		—		264.8
Other underwriting expenses	39.5			35.4			74.9			—		8.0		—		82.9
Underwriting income	64.9			16.3			81.2			72.4		1.1		—		154.7
Services revenues	—			123.2			123.2			(71.5)		—		(51.7)		—
Services expenses	—			93.7			93.7			—		—		(93.7)		—
Net services fee income	—			29.5			29.5			(71.5)		—		42.0		—
Services noncontrolling income	—			(2.3)			(2.3)			—		—		2.3		—

Net services income	—			27.2			27.2			(71.5)		—		44.3		—
Segment income	64.9			43.5			108.4			0.9		1.1		44.3		154.7
Net investment income												157.0		—		157.0
Net realized and unrealized investment losses												(54.9)		—		(54.9)
Net realized and unrealized investment gains from related party investment funds												1.0		—		1.0
Other revenues												89.7		51.7		141.4
Net corporate and other expenses												(28.9)		(93.7)		(122.6)
Intangible asset amortization												(5.9)		—		(5.9)
Interest expense												(36.2)		—		(36.2)
Foreign exchange gains												0.1		—		0.1
Income before income tax expense	$	64.9		$	43.5		108.4			0.9		123.0		2.3		234.6
Income tax expense							—			—		(23.9)		—		(23.9)
Net income							108.4			0.9		99.1		2.3		210.7
Net (income) loss attributable to noncontrolling interests							—			—		0.3		(2.3)		(2.0)
Net income available to SiriusPoint							$	108.4		$	0.9	$	99.4	$	—	$	208.7

Underwriting Ratios: (1)
Loss ratio	52.6		%	65.7		%	59.5		%							57.6		%
Acquisition cost ratio	26.9		%	25.1		%	26.0		%							22.4		%
Other underwriting expenses ratio	7.7		%	6.3		%	7.0		%							7.0		%
Combined ratio	87.2		%	97.1		%	92.5		%							87.0		%

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


	Six months ended June 30, 2023
	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	753.9		$	1,111.5		$	1,865.4		$	—	$	87.6	$	—	$	1,953.0
Net premiums written	622.9			729.0			1,351.9			—		65.4		—		1,417.3
Net premiums earned	531.3			615.6			1,146.9			—		88.3		—		1,235.2
Loss and loss adjustment expenses incurred, net	232.3			389.2			621.5			(2.8)		24.1		—		642.8
Acquisition costs, net	117.3			152.4			269.7			(68.4)		30.2		—		231.5
Other underwriting expenses	40.2			44.8			85.0			—		10.5		—		95.5
Underwriting income	141.5			29.2			170.7			71.2		23.5		—		265.4
Services revenues	(2.6)			125.8			123.2			(71.3)		—		(51.9)		—
Services expenses	—			95.5			95.5			—		—		(95.5)		—
Net services fee income (loss)	(2.6)			30.3			27.7			(71.3)		—		43.6		—
Services noncontrolling income	—			(3.3)			(3.3)			—		—		3.3		—

Net services income (loss)	(2.6)			27.0			24.4			(71.3)		—		46.9		—
Segment income	138.9			56.2			195.1			(0.1)		23.5		46.9		265.4
Net investment income												130.2		—		130.2
Net realized and unrealized investment gains												9.5		—		9.5
Net realized and unrealized investment losses from related party investment funds												(0.1)		—		(0.1)
Other revenues												(37.8)		51.9		14.1
Net corporate and other expenses												(34.8)		(95.5)		(130.3)
Intangible asset amortization												(5.3)		—		(5.3)
Interest expense												(24.5)		—		(24.5)
Foreign exchange losses												(17.5)		—		(17.5)
Income before income tax expense	$	138.9		$	56.2		195.1			(0.1)		43.2		3.3		241.5
Income tax expense							—			—		(41.3)		—		(41.3)
Net income							195.1			(0.1)		1.9		3.3		200.2
Net income attributable to noncontrolling interests							—			—		(1.1)		(3.3)		(4.4)
Net income available to SiriusPoint							$	195.1		$	(0.1)	$	0.8	$	—	$	195.8

Underwriting Ratios: (1)
Loss ratio	43.7		%	63.2		%	54.2		%							52.0		%
Acquisition cost ratio	22.1		%	24.8		%	23.5		%							18.7		%
Other underwriting expenses ratio	7.6		%	7.3		%	7.4		%							7.7		%
Combined ratio	73.4		%	95.3		%	85.1		%							78.4		%

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

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, and services expenses which include direct expenses related to consolidated MGAs, services noncontrolling income which represent minority ownership interests in consolidated MGAs. Net investment gains (losses) from Strategic investments which are net investment gains (losses) from our investment holdings, are no longer included in Core net services income, with comparative financial periods restated. Net services income is a key indicator of the profitability of the Company's services provided.

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 directly comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes intangible assets. 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. Tangible book value per diluted common share is 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 June 30, 2024 and December 31, 2023:


	June 30, 2024		December 31, 2023
	($ in millions, except share and per share amounts)


Common shareholders’ equity attributable to SiriusPoint common shareholders	$	2,504.1	$	2,313.9


Intangible assets	(146.8)		(152.7)
Tangible common shareholders' equity attributable to SiriusPoint common shareholders	$	2,357.3	$	2,161.2

Common shares outstanding	170,572,790		168,120,022
Effect of dilutive stock options, restricted share units and warrants	4,465,438		5,193,920
Book value per diluted common share denominator	175,038,228		173,313,942



Book value per common share	$	14.68	$	13.76
Book value per diluted common share	$	14.31	$	13.35
Tangible book value per diluted common share	$	13.47	$	12.47

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 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 and six months ended June 30, 2024 and 2023 was calculated as follows:


	Three months ended						Six months ended
	June 30, 2024			June 30, 2023			June 30, 2024			June 30, 2023
	($ in millions)
Net income available to SiriusPoint common shareholders	$	109.9		$	55.9		$	200.7		$	187.8
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period	2,402.6			2,029.9			2,313.9			1,874.7


Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period	2,504.1			2,036.0			2,504.1			2,036.0
Average common shareholders’ equity attributable to SiriusPoint common shareholders	$	2,453.4		$	2,033.0		$	2,409.0		$	1,955.4

Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders	17.9		%	11.0		%	16.7		%	19.2		%

SiriusPoint Ltd.

Financial Supplement

June 30, 2024

(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						Sarah Singh - VP, Strategy and Investor Relations
3 Waterloo Lane						Tel: +1 646 884 4310
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 a non-GAAP financial measure and the most directly comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes intangible assets. 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. Tangible book value per diluted common share is 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 directly comparable GAAP figures are included in the attached financial information in accordance with Regulation G and Item 10(e) of Regulation S-K, as applicable.

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,” “targets,” “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; 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 interest rates, and foreign currency fluctuations; our ability to compete successfully in the insurance and reinsurance market and the effect of consolidation in the insurance and reinsurance 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; geopolitical uncertainty, including the ongoing conflicts in Europe and the Middle East; 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 exposure or potential exposure to corporate income tax in Bermuda and the E.U., 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, managing general underwriters and/or program administrators; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from any 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.

Page 2 of 20

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						6
Consolidated Statements of Income - by Quarter						7
Consolidated Statements of Comprehensive Income - by Quarter						8

Operating Segment Information
Segment Reporting - Three months ended June 30, 2024						9
Segment Reporting - Three months ended June 30, 2023						10
Segment Reporting - Six months ended June 30, 2024						11
Segment Reporting - Six months ended June 30, 2023						12


Consolidated Results - by Quarter						13
Core Results - by Quarter						14
Reinsurance Segment - by Quarter						15
Insurance & Services Segment - by Quarter						16

Investments
Investments - by Quarter						17


Other

Earnings per Share - by Quarter						18
Annualized Return on Average Common Shareholders’ Equity - by Quarter						19
Book Value per Share - by Quarter						20

Page 3 of 20

SiriusPoint Ltd.

Key Performance Indicators

June 30, 2024 and 2023

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


	Three months ended						Six months ended
	June 30, 2024			June 30, 2023			June 30, 2024			June 30, 2023

Combined ratio	89.0		%	83.0		%	87.0		%	78.4		%
Core underwriting income (1)	$	36.9		$	63.3		$	81.2		$	170.7
Core net services income (1)	$	9.1		$	7.7		$	27.2		$	24.4
Core income (1)	$	46.0		$	71.0		$	108.4		$	195.1
Core combined ratio (1)	93.3		%	89.4		%	92.5		%	85.1		%
Accident year loss ratio (1)	61.6		%	65.2		%	60.7		%	64.4		%
Accident year combined ratio (1)	94.2		%	93.6		%	93.6		%	95.3		%
Attritional loss ratio (1)	60.6		%	65.2		%	60.2		%	63.8		%
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders	17.9		%	11.0		%	16.7		%	19.2		%
Book value per common share (2)	$	14.68		$	13.76		$	14.68		$	13.76
Book value per diluted common share (2)	$	14.31		$	13.35		$	14.31		$	13.35
Tangible book value per diluted common share (1) (2)	$	13.47		$	12.47		$	13.47		$	12.47

(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, 2023.

Page 4 of 20

SiriusPoint Ltd.

Consolidated Balance Sheets - by Quarter

(expressed in millions of U.S. dollars)


	June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023		June 30, 2023
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses	$	5,345.3	$	5,057.5	$	4,755.4	$	4,423.3	$	4,172.1
Debt securities, trading, at fair value	307.7		406.0		534.9		616.4		753.2
Short-term investments, at fair value	97.5		329.9		371.6		548.7		559.2
Investments in related party investment funds, at fair value	106.6		105.6		105.6		109.9		111.3
Other long-term investments, at fair value	241.7		296.6		308.5		326.1		355.4
Equity securities, at fair value	—		1.6		1.6		1.6		1.6
Total investments	6,098.8		6,197.2		6,077.6		6,026.0		5,952.8
Cash and cash equivalents	598.1		867.5		969.2		703.5		676.2
Restricted cash and cash equivalents	125.9		218.9		132.1		107.7		95.2

Redemption receivable from related party investment fund	—		—		3.0		2.4		5.0
Due from brokers	28.6		16.4		5.6		21.5		18.2
Interest and dividends receivable	50.7		44.5		42.3		41.1		36.8
Insurance and reinsurance balances receivable, net	2,120.2		2,127.2		1,966.3		2,057.6		2,219.6
Deferred acquisition costs, net	341.9		320.8		308.9		333.0		342.6
Unearned premiums ceded	496.1		494.8		449.2		464.7		484.8
Loss and loss adjustment expenses recoverable, net	2,191.5		2,233.8		2,295.1		2,314.2		2,276.6
Deferred tax asset	285.1		290.7		293.6		180.6		163.9
Intangible assets	146.8		149.8		152.7		155.6		158.5

Other assets	280.3		174.2		175.9		183.3		165.4
Total assets	$	12,764.0	$	13,135.8	$	12,871.5	$	12,591.2	$	12,595.6
Liabilities
Loss and loss adjustment expense reserves	$	5,606.0	$	5,565.3	$	5,608.1	$	5,448.8	$	5,307.4
Unearned premium reserves	1,769.7		1,715.7		1,627.3		1,762.8		1,842.2
Reinsurance balances payable	1,544.5		1,780.5		1,736.7		1,733.4		1,845.4
Deposit liabilities	22.1		128.8		134.4		135.8		137.8
Deferred gain on retroactive reinsurance	23.0		25.8		27.9		25.8		21.2
Debt	648.6		770.6		786.2		763.5		765.9

Securities sold under an agreement to repurchase	—		—		—		—		11.0
Due to brokers	40.2		60.7		6.2		39.1		28.1
Deferred tax liability	56.1		48.9		68.7		81.2		61.0
Liability-classified capital instruments	72.6		83.2		67.3		62.0		65.4
Accounts payable, accrued expenses and other liabilities	275.7		335.9		278.1		273.4		261.3
Total liabilities	10,058.5		10,515.4		10,340.9		10,325.8		10,346.7
Commitments and contingent liabilities

Shareholders’ equity

Series B preference shares	200.0		200.0		200.0		200.0		200.0
Common shares	17.1		17.0		16.8		16.5		16.3
Additional paid-in capital	1,713.3		1,711.2		1,693.0		1,661.4		1,645.6
Retained earnings	801.7		691.8		601.0		507.5		450.0
Accumulated other comprehensive income (loss), net of tax	(28.0)		(17.4)		3.1		(135.4)		(75.9)
Shareholders’ equity attributable to SiriusPoint shareholders	2,704.1		2,602.6		2,513.9		2,250.0		2,236.0
Noncontrolling interests	1.4		17.8		16.7		15.4		12.9
Total shareholders’ equity	2,705.5		2,620.4		2,530.6		2,265.4		2,248.9
Total liabilities, noncontrolling interests and shareholders’ equity	$	12,764.0	$	13,135.8	$	12,871.5	$	12,591.2	$	12,595.6

Page 5 of 20

SiriusPoint Ltd.

Consolidated Statements of Income

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


	Three months ended				Six months ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Revenues
Net premiums earned	$	590.5	$	639.7	$	1,184.3	$	1,235.2
Net investment income	78.2		68.5		157.0		130.2
Net realized and unrealized investment gains (losses)	(55.9)		(1.8)		(54.9)		9.5
Net realized and unrealized investment gains (losses) from related party investment funds	1.0		(0.9)		1.0		(0.1)
Net investment income and net realized and unrealized investment gains (losses)	23.3		65.8		103.1		139.6
Other revenues	129.5		5.3		141.4		14.1
Total revenues	743.3		710.8		1,428.8		1,388.9
Expenses
Loss and loss adjustment expenses incurred, net	364.4		375.7		681.9		642.8
Acquisition costs, net	119.9		111.8		264.8		231.5
Other underwriting expenses	41.1		43.3		82.9		95.5
Net corporate and other expenses	66.6		70.3		122.6		130.3
Intangible asset amortization	3.0		2.9		5.9		5.3
Interest expense	15.7		11.7		36.2		24.5
Foreign exchange (gains) losses	3.6		17.4		(0.1)		17.5
Total expenses	614.3		633.1		1,194.2		1,147.4
Income before income tax expense	129.0		77.7		234.6		241.5
Income tax expense	(14.2)		(15.8)		(23.9)		(41.3)
Net income	114.8		61.9		210.7		200.2
Net income attributable to noncontrolling interests	(0.9)		(2.0)		(2.0)		(4.4)
Net income available to SiriusPoint	113.9		59.9		208.7		195.8
Dividends on Series B preference shares	(4.0)		(4.0)		(8.0)		(8.0)
Net income available to SiriusPoint common shareholders	$	109.9	$	55.9	$	200.7	$	187.8
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders (1)	$	0.60	$	0.32	$	1.11	$	1.08
Diluted earnings per share available to SiriusPoint common shareholders (1)	$	0.57	$	0.31	$	1.05	$	1.05
Weighted average number of common shares used in the determination of earnings per share
Basic	170,173,022		162,027,831		169,453,656		161,473,011
Diluted	178,711,254		166,708,932		178,085,119		165,997,198

(1) Basic earnings 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 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 20

SiriusPoint Ltd.

Consolidated Statements of Income - by Quarter

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


	June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023		June 30, 2023
Revenues
Net premiums earned	$	590.5	$	593.8	$	578.0	$	613.0	$	639.7
Net investment income	78.2		78.8		78.4		75.1		68.5
Net realized and unrealized investment gains (losses)	(55.9)		1.0		(12.4)		(7.1)		(1.8)
Net realized and unrealized investment gains (losses) from related party investment funds	1.0		—		(1.0)		0.1		(0.9)
Net investment income and net realized and unrealized investment gains (losses)	23.3		79.8		65.0		68.1		65.8
Other revenues	129.5		11.9		2.8		21.5		5.3
Total revenues	743.3		685.5		645.8		702.6		710.8
Expenses
Loss and loss adjustment expenses incurred, net	364.4		317.5		365.4		373.1		375.7
Acquisition costs, net	119.9		144.9		111.7		129.5		111.8
Other underwriting expenses	41.1		41.8		64.2		36.6		43.3
Net corporate and other expenses	66.6		56.0		64.5		63.4		70.3
Intangible asset amortization	3.0		2.9		2.9		2.9		2.9
Interest expense	15.7		20.5		19.8		19.8		11.7
Foreign exchange (gains) losses	3.6		(3.7)		19.2		(1.8)		17.4
Total expenses	614.3		579.9		647.7		623.5		633.1
Income (loss) before income tax (expense) benefit	129.0		105.6		(1.9)		79.1		77.7
Income tax (expense) benefit	(14.2)		(9.7)		101.6		(15.3)		(15.8)
Net income	114.8		95.9		99.7		63.8		61.9
Net income attributable to noncontrolling interests	(0.9)		(1.1)		(2.2)		(2.3)		(2.0)
Net income available to SiriusPoint	113.9		94.8		97.5		61.5		59.9
Dividends on Series B preference shares	(4.0)		(4.0)		(4.0)		(4.0)		(4.0)
Net income available to SiriusPoint common shareholders	$	109.9	$	90.8	$	93.5	$	57.5	$	55.9
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders (1)	$	0.60	$	0.50	$	0.52	$	0.33	$	0.32
Diluted earnings per share available to SiriusPoint common shareholders (1)	$	0.57	$	0.49	$	0.50	$	0.32	$	0.31
Weighted average number of common shares used in the determination of earnings per share
Basic	170,173,022		168,934,114		166,640,624		163,738,528		162,027,831
Diluted	178,711,254		174,380,963		173,609,940		168,516,508		166,708,932

(1) Basic earnings 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 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 20

SiriusPoint Ltd.

Consolidated Statements of Comprehensive Income - by Quarter

(expressed in millions of U.S. dollars)


	June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023		June 30, 2023
Comprehensive income
Net income	$	114.8	$	95.9	$	99.7	$	63.8	$	61.9
Other comprehensive income (loss), net of tax
Change in foreign currency translation adjustment	(0.1)		(1.8)		1.0		(1.1)		1.5
Unrealized gains (losses) from debt securities held as available for sale investments	(3.4)		(18.4)		128.8		(56.2)		(56.6)
Reclassifications from accumulated other comprehensive income (loss)	(7.1)		(0.3)		8.7		(2.2)		2.2
Total other comprehensive income (loss)	(10.6)		(20.5)		138.5		(59.5)		(52.9)
Comprehensive income	104.2		75.4		238.2		4.3		9.0
Net income attributable to noncontrolling interests	(0.9)		(1.1)		(2.2)		(2.3)		(2.0)
Comprehensive income available to SiriusPoint	$	103.3	$	74.3	$	236.0	$	2.0	$	7.0

Page 8 of 20

SiriusPoint Ltd.

Segment Reporting - Three months ended June 30, 2024

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



	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	352.5		$	490.2		$	842.7		$	—	$	21.8	$	—	$	864.5
Net premiums written	308.8			341.1			649.9			—		(6.3)		—		643.6
Net premiums earned	256.2			297.2			553.4			—		37.1		—		590.5
Loss and loss adjustment expenses incurred, net	143.8			192.2			336.0			(1.3)		29.7		—		364.4
Acquisition costs, net	67.2			75.8			143.0			(36.5)		13.4		—		119.9
Other underwriting expenses	20.2			17.3			37.5			—		3.6		—		41.1
Underwriting income (loss)	25.0			11.9			36.9			37.8		(9.6)		—		65.1
Services revenues	—			57.4			57.4			(34.4)		—		(23.0)		—
Services expenses	—			47.7			47.7			—		—		(47.7)		—
Net services fee income	—			9.7			9.7			(34.4)		—		24.7		—
Services noncontrolling income	—			(0.6)			(0.6)			—		—		0.6		—

Net services income	—			9.1			9.1			(34.4)		—		25.3		—
Segment income (loss)	25.0			21.0			46.0			3.4		(9.6)		25.3		65.1
Net investment income												78.2		—		78.2
Net realized and unrealized investment losses												(55.9)		—		(55.9)
Net realized and unrealized investment gains from related party investment funds												1.0		—		1.0
Other revenues												106.5		23.0		129.5
Net corporate and other expenses												(18.9)		(47.7)		(66.6)
Intangible asset amortization												(3.0)		—		(3.0)
Interest expense												(15.7)		—		(15.7)
Foreign exchange losses												(3.6)		—		(3.6)
Income before income tax expense	$	25.0		$	21.0		46.0			3.4		79.0		0.6		129.0
Income tax expense							—			—		(14.2)		—		(14.2)
Net income							46.0			3.4		64.8		0.6		114.8
Net income attributable to noncontrolling interest							—			—		(0.3)		(0.6)		(0.9)
Net income available to SiriusPoint							$	46.0		$	3.4	$	64.5	$	—	$	113.9

Underwriting Ratios: (1)
Loss ratio	56.1		%	64.7		%	60.7		%							61.7		%
Acquisition cost ratio	26.2		%	25.5		%	25.8		%							20.3		%
Other underwriting expenses ratio	7.9		%	5.8		%	6.8		%							7.0		%
Combined ratio	90.2		%	96.0		%	93.3		%							89.0		%

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

Page 9 of 20

SiriusPoint Ltd.

Segment Reporting - Three months ended June 30, 2023

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



	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	357.7		$	447.5		$	805.2		$	—	$	37.3	$	—	$	842.5
Net premiums written	311.9			276.4			588.3			—		37.3		—		625.6
Net premiums earned	271.8			324.4			596.2			—		43.5		—		639.7
Loss and loss adjustment expenses incurred, net	146.7			216.7			363.4			(1.5)		13.8		—		375.7
Acquisition costs, net	51.3			80.7			132.0			(35.9)		15.7		—		111.8
Other underwriting expenses	12.0			25.5			37.5			—		5.8		—		43.3
Underwriting income	61.8			1.5			63.3			37.4		8.2		—		108.9
Services revenues	(2.8)			62.2			59.4			(36.9)		—		(22.5)		—
Services expenses	—			50.0			50.0			—		—		(50.0)		—
Net services fee income (loss)	(2.8)			12.2			9.4			(36.9)		—		27.5		—
Services noncontrolling income	—			(1.7)			(1.7)			—		—		1.7		—

Net services income (loss)	(2.8)			10.5			7.7			(36.9)		—		29.2		—
Segment income	59.0			12.0			71.0			0.5		8.2		29.2		108.9
Net investment income												68.5		—		68.5
Net realized and unrealized investment losses												(1.8)		—		(1.8)
Net realized and unrealized investment losses from related party investment funds												(0.9)		—		(0.9)
Other revenues												(17.2)		22.5		5.3
Net corporate and other expenses												(20.3)		(50.0)		(70.3)
Intangible asset amortization												(2.9)		—		(2.9)
Interest expense												(11.7)		—		(11.7)
Foreign exchange losses												(17.4)		—		(17.4)
Income before income tax expense	$	59.0		$	12.0		71.0			0.5		4.5		1.7		77.7
Income tax expense							—			—		(15.8)		—		(15.8)
Net income (loss)							71.0			0.5		(11.3)		1.7		61.9
Net income attributable to noncontrolling interest							—			—		(0.3)		(1.7)		(2.0)
Net income (loss) available to SiriusPoint							$	71.0		$	0.5	$	(11.6)	$	—	$	59.9

Underwriting Ratios: (1)
Loss ratio	54.0		%	66.8		%	61.0		%							58.7		%
Acquisition cost ratio	18.9		%	24.9		%	22.1		%							17.5		%
Other underwriting expenses ratio	4.4		%	7.9		%	6.3		%							6.8		%
Combined ratio	77.3		%	99.6		%	89.4		%							83.0		%

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

Page 10 of 20

SiriusPoint Ltd.

Segment Reporting - Six months ended June 30, 2024

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



	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	708.9		$	1,014.5		$	1,723.4		$	—	$	47.7	$	—	$	1,771.1
Net premiums written	598.9			678.2			1,277.1			—		5.8		—		1,282.9
Net premiums earned	509.8			561.4			1,071.2			—		113.1		—		1,184.3
Loss and loss adjustment expenses incurred, net	268.4			368.7			637.1			(2.7)		47.5		—		681.9
Acquisition costs, net	137.0			141.0			278.0			(69.7)		56.5		—		264.8
Other underwriting expenses	39.5			35.4			74.9			—		8.0		—		82.9
Underwriting income	64.9			16.3			81.2			72.4		1.1		—		154.7
Services revenues	—			123.2			123.2			(71.5)		—		(51.7)		—
Services expenses	—			93.7			93.7			—		—		(93.7)		—
Net services fee income	—			29.5			29.5			(71.5)		—		42.0		—
Services noncontrolling income	—			(2.3)			(2.3)			—		—		2.3		—

Net services income	—			27.2			27.2			(71.5)		—		44.3		—
Segment income	64.9			43.5			108.4			0.9		1.1		44.3		154.7
Net investment income												157.0		—		157.0
Net realized and unrealized investment losses												(54.9)		—		(54.9)
Net realized and unrealized investment gains from related party investment funds												1.0		—		1.0
Other revenues												89.7		51.7		141.4
Net corporate and other expenses												(28.9)		(93.7)		(122.6)
Intangible asset amortization												(5.9)		—		(5.9)
Interest expense												(36.2)		—		(36.2)
Foreign exchange gains												0.1		—		0.1
Income before income tax expense	$	64.9		$	43.5		108.4			0.9		123.0		2.3		234.6
Income tax expense							—			—		(23.9)		—		(23.9)
Net income							108.4			0.9		99.1		2.3		210.7
Net (income) loss attributable to noncontrolling interests							—			—		0.3		(2.3)		(2.0)
Net income available to SiriusPoint							$	108.4		$	0.9	$	99.4	$	—	$	208.7

Underwriting Ratios: (1)
Loss ratio	52.6		%	65.7		%	59.5		%							57.6		%
Acquisition cost ratio	26.9		%	25.1		%	26.0		%							22.4		%
Other underwriting expenses ratio	7.7		%	6.3		%	7.0		%							7.0		%
Combined ratio	87.2		%	97.1		%	92.5		%							87.0		%

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

Page 11 of 20

SiriusPoint Ltd.

Segment Reporting - Six months ended June 30, 2023

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



	Reinsurance			Insurance & Services			Core			Eliminations (2)		Corporate		Segment Measure Reclass		Total
Gross premiums written	$	753.9		$	1,111.5		$	1,865.4		$	—	$	87.6	$	—	$	1,953.0
Net premiums written	622.9			729.0			1,351.9			—		65.4		—		1,417.3
Net premiums earned	531.3			615.6			1,146.9			—		88.3		—		1,235.2
Loss and loss adjustment expenses incurred, net	232.3			389.2			621.5			(2.8)		24.1		—		642.8
Acquisition costs, net	117.3			152.4			269.7			(68.4)		30.2		—		231.5
Other underwriting expenses	40.2			44.8			85.0			—		10.5		—		95.5
Underwriting income	141.5			29.2			170.7			71.2		23.5		—		265.4
Services revenues	(2.6)			125.8			123.2			(71.3)		—		(51.9)		—
Services expenses	—			95.5			95.5			—		—		(95.5)		—
Net services fee income (loss)	(2.6)			30.3			27.7			(71.3)		—		43.6		—
Services noncontrolling income	—			(3.3)			(3.3)			—		—		3.3		—

Net services income (loss)	(2.6)			27.0			24.4			(71.3)		—		46.9		—
Segment income	138.9			56.2			195.1			(0.1)		23.5		46.9		265.4
Net investment income												130.2		—		130.2
Net realized and unrealized investment gains												9.5		—		9.5
Net realized and unrealized investment losses from related party investment funds												(0.1)		—		(0.1)
Other revenues												(37.8)		51.9		14.1
Net corporate and other expenses												(34.8)		(95.5)		(130.3)
Intangible asset amortization												(5.3)		—		(5.3)
Interest expense												(24.5)		—		(24.5)
Foreign exchange losses												(17.5)		—		(17.5)
Income before income tax expense	$	138.9		$	56.2		195.1			(0.1)		43.2		3.3		241.5
Income tax expense							—			—		(41.3)		—		(41.3)
Net income							195.1			(0.1)		1.9		3.3		200.2
Net income attributable to noncontrolling interests							—			—		(1.1)		(3.3)		(4.4)
Net income available to SiriusPoint							$	195.1		$	(0.1)	$	0.8	$	—	$	195.8

Underwriting Ratios: (1)
Loss ratio	43.7		%	63.2		%	54.2		%							52.0		%
Acquisition cost ratio	22.1		%	24.8		%	23.5		%							18.7		%
Other underwriting expenses ratio	7.6		%	7.3		%	7.4		%							7.7		%
Combined ratio	73.4		%	95.3		%	85.1		%							78.4		%

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

Page 12 of 20

SiriusPoint Ltd.

Consolidated Results - by Quarter

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


	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Revenues
Gross premiums written	$	864.6		$	906.6		$	715.6		$	758.8		$	842.5

Net premiums written	643.6			639.3			454.6			566.0			625.6

Net premiums earned	590.5			593.8			578.0			613.0			639.7
Expenses
Loss and loss adjustment expenses incurred, net	364.4			317.5			365.4			373.1			375.7
Acquisition costs, net	119.9			144.9			111.7			129.5			111.8
Other underwriting expenses	41.1			41.8			64.2			36.6			43.3

Underwriting income	$	65.1		$	89.6		$	36.7		$	73.8		$	108.9

Underwriting Ratios (1):
Loss ratio	61.7		%	53.5		%	63.2		%	60.9		%	58.7		%
Acquisition cost ratio	20.3		%	24.4		%	19.3		%	21.1		%	17.5		%
Other underwriting expenses ratio	7.0		%	7.0		%	11.1		%	6.0		%	6.8		%
Combined ratio	89.0		%	84.9		%	93.6		%	88.0		%	83.0		%

Catastrophe losses, net of reinsurance and reinstatement premiums	$	5.6		$	—		$	(0.1)		$	12.0		$	—
Favorable prior year loss reserve development	$	(1.1)		$	(38.9)		$	(11.1)		$	(24.7)		$	(33.0)

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

Page 13 of 20

SiriusPoint Ltd.

Core Results - by Quarter (1)

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


	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Revenues
Gross premiums written	$	842.7		$	880.7		$	719.8		$	725.5		$	805.2

Net premiums written	649.9			627.2			458.2			533.6			588.3

Net premiums earned	553.4			517.8			558.4			575.3			596.2
Expenses
Loss and loss adjustment expenses incurred, net	336.0			301.1			328.4			355.8			363.4
Acquisition costs, net	143.0			135.0			132.3			145.7			132.0
Other underwriting expenses	37.5			37.4			60.7			31.3			37.5

Underwriting income	36.9			44.3			37.0			42.5			63.3
Services revenues	57.4			65.8			55.7			58.6			59.4
Services expenses	47.7			46.0			43.6			48.7			50.0
Net services fee income	9.7			19.8			12.1			9.9			9.4
Services noncontrolling income	(0.6)			(1.7)			(2.8)			(2.4)			(1.7)

Net services income	9.1			18.1			9.3			7.5			7.7
Segment income	$	46.0		$	62.4		$	46.3		$	50.0		$	71.0

Underwriting Ratios (2):
Loss ratio	60.7		%	58.1		%	58.8		%	61.8		%	61.0		%
Acquisition cost ratio	25.8		%	26.1		%	23.7		%	25.3		%	22.1		%
Other underwriting expenses ratio	6.8		%	7.2		%	10.9		%	5.4		%	6.3		%
Combined ratio	93.3		%	91.4		%	93.4		%	92.5		%	89.4		%

Accident year loss ratio	61.6		%	59.7		%	65.6		%	64.0		%	65.2		%
Accident year combined ratio	94.2		%	93.0		%	100.1		%	94.8		%	93.6		%
Attritional loss ratio	60.6		%	59.7		%	65.6		%	62.9		%	65.2		%

Catastrophe losses, net of reinsurance and reinstatement premiums	$	5.6		$	—		$	(0.2)		$	6.7		$	—
Favorable prior year loss reserve development	$	(4.9)		$	(8.0)		$	(37.7)		$	(12.6)		$	(25.2)

(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 14 of 20

SiriusPoint Ltd.

Reinsurance Segment - by Quarter

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


	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Revenues
Gross premiums written	$	352.5		$	356.4		$	251.7		$	265.4		$	357.7

Net premiums written	308.8			290.1			194.9			243.2			311.9

Net premiums earned	256.2			253.6			243.2			256.9			271.8
Expenses
Loss and loss adjustment expenses incurred, net	143.8			124.6			121.8			136.2			146.7
Acquisition costs, net	67.2			69.8			65.5			69.4			51.3
Other underwriting expenses	20.2			19.3			28.1			14.4			12.0

Underwriting income	25.0			39.9			27.8			36.9			61.8
Services revenues	—			—			1.7			(0.2)			(2.8)




Net services income (loss)	—			—			1.7			(0.2)			(2.8)
Segment income	$	25.0		$	39.9		$	29.5		$	36.7		$	59.0

Underwriting Ratios (1):
Loss ratio	56.1		%	49.1		%	50.1		%	53.0		%	54.0		%
Acquisition cost ratio	26.2		%	27.5		%	26.9		%	27.0		%	18.9		%
Other underwriting expenses ratio	7.9		%	7.6		%	11.6		%	5.6		%	4.4		%
Combined ratio	90.2		%	84.2		%	88.6		%	85.6		%	77.3		%

Accident year loss ratio	58.6		%	53.2		%	58.8		%	60.5		%	63.5		%
Accident year combined ratio	92.7		%	88.3		%	97.2		%	93.1		%	86.8		%
Attritional loss ratio	57.4		%	53.2		%	59.0		%	57.8		%	63.5		%

Catastrophe losses, net of reinsurance and reinstatement premiums	$	3.0		$	—		$	(0.6)		$	6.8		$	—
Favorable prior year loss reserve development	$	(6.3)		$	(10.3)		$	(21.1)		$	(19.2)		$	(25.9)

(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 15 of 20

SiriusPoint Ltd.

Insurance & Services Segment - by Quarter

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


	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Revenues
Gross premiums written	$	490.2		$	524.3		$	468.1		$	460.1		$	447.5

Net premiums written	341.1			337.1			263.3			290.4			276.4

Net premiums earned	297.2			264.2			315.2			318.4			324.4
Expenses
Loss and loss adjustment expenses incurred, net	192.2			176.5			206.6			219.6			216.7
Acquisition costs, net	75.8			65.2			66.8			76.3			80.7
Other underwriting expenses	17.3			18.1			32.6			16.9			25.5

Underwriting income	11.9			4.4			9.2			5.6			1.5
Services revenues	57.4			65.8			54.0			58.8			62.2
Services expenses	47.7			46.0			43.6			48.7			50.0
Net services fee income	9.7			19.8			10.4			10.1			12.2
Services noncontrolling income	(0.6)			(1.7)			(2.8)			(2.4)			(1.7)

Net services income	9.1			18.1			7.6			7.7			10.5
Segment income	$	21.0		$	22.5		$	16.8		$	13.3		$	12.0

Underwriting Ratios (1):
Loss ratio	64.7		%	66.8		%	65.5		%	69.0		%	66.8		%
Acquisition cost ratio	25.5		%	24.7		%	21.2		%	24.0		%	24.9		%
Other underwriting expenses ratio	5.8		%	6.9		%	10.3		%	5.3		%	7.9		%
Combined ratio	96.0		%	98.4		%	97.0		%	98.3		%	99.6		%

Accident year loss ratio	64.2		%	65.9		%	70.8		%	66.9		%	66.6		%
Accident year combined ratio	95.5		%	97.5		%	102.3		%	96.2		%	99.3		%
Attritional loss ratio	63.3		%	65.9		%	70.7		%	66.9		%	66.6		%

Catastrophe losses, net of reinsurance and reinstatement premiums	$	2.6		$	—		$	0.4		$	(0.1)		$	—
(Favorable) adverse prior year loss reserve development	$	1.4		$	2.3		$	(16.6)		$	6.6		$	0.7

Page 16 of 20

SiriusPoint Ltd.

Investments - by Quarter

(expressed in millions of U.S. dollars)


	June 30, 2024				March 31, 2024				December 31, 2023				September 30, 2023				June 30, 2023
	Fair Value		%		Fair Value		%		Fair Value		%		Fair Value		%		Fair Value		%
Asset-backed securities	$	1,101.3	18.1	%	$	1,044.0	16.8	%	$	880.7	14.5	%	$	802.6	13.3	%	$	704.8	11.8	%
Residential mortgage-backed securities	1,046.5		17.2	%	926.8		15.0	%	902.8		14.9	%	777.1		12.9	%	684.4		11.5	%
Commercial mortgage-backed securities	238.2		3.9	%	236.5		3.8	%	204.1		3.4	%	168.9		2.8	%	133.7		2.2	%

Corporate debt securities	1,783.7		29.2	%	1,730.8		27.9	%	1,573.1		25.9	%	1,533.5		25.4	%	1,483.5		24.9	%
U.S. government and government agency	1,141.1		18.7	%	1,069.5		17.3	%	1,136.7		18.7	%	1,075.6		17.8	%	1,083.5		18.2	%
Non-U.S. government and government agency	34.5		0.6	%	49.9		0.8	%	58.0		1.0	%	65.6		1.1	%	82.2		1.4	%



Total debt securities, available for sale	5,345.3		87.6	%	5,057.5		81.6	%	4,755.4		78.4	%	4,423.3		73.4	%	4,172.1		70.0	%
Asset-backed securities	148.3		2.4	%	199.7		3.2	%	256.6		4.2	%	304.2		5.0	%	358.8		6.0	%
Residential mortgage-backed securities	52.8		0.9	%	55.3		0.9	%	57.2		0.9	%	56.2		0.9	%	80.5		1.4	%
Commercial mortgage-backed securities	62.9		1.0	%	66.2		1.1	%	67.8		1.1	%	67.4		1.1	%	72.7		1.2	%

Corporate debt securities	10.6		0.2	%	41.5		0.7	%	45.2		0.7	%	62.6		1.0	%	101.4		1.7	%
U.S. government and government agency	29.8		0.5	%	33.4		0.5	%	98.1		1.6	%	108.8		1.8	%	108.9		1.8	%
Non-U.S. government and government agency	3.3		0.1	%	9.9		0.2	%	10.0		0.2	%	17.2		0.3	%	30.9		0.5	%



Total debt securities, trading	307.7		5.0	%	406.0		6.6	%	534.9		8.7	%	616.4		10.2	%	753.2		12.6	%



Total equity securities	—		—	%	1.6		—	%	1.6		—	%	1.6		—	%	1.6		—	%
Short-term investments	97.5		1.6	%	329.9		5.3	%	371.6		6.1	%	548.7		9.1	%	559.2		9.6	%
Other long-term investments	119.6		2.0	%	170.6		2.8	%	169.7		2.8	%	181.7		3.0	%	235.0		3.9	%

Cost and equity method investments	71.4		1.2	%	73.6		1.2	%	80.1		1.3	%	83.9		1.4	%	88.2		1.5	%
Investments in funds valued at net asset value	157.3		2.6	%	158.0		2.5	%	164.3		2.7	%	170.4		2.8	%	143.5		2.4	%
Total investments	$	6,098.8	100.0	%	$	6,197.2	100.0	%	$	6,077.6	100.0	%	$	6,026.0	100.0	%	$	5,952.8	100.0	%

Page 17 of 20

SiriusPoint Ltd.

Earnings per Share - by Quarter

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


	June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023		June 30, 2023
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding	170,173,022		168,934,114		166,640,624		163,738,528		162,027,831
Dilutive effect of options, warrants, restricted share awards, restricted share units, and Series A preference shares	8,538,233		5,446,849		6,969,316		4,777,980		4,681,101
Diluted number of common shares outstanding	178,711,255		174,380,963		173,609,940		168,516,508		166,708,932

Basic earnings per common share:
Net income available to SiriusPoint common shareholders	$	109.9	$	90.8	$	93.5	$	57.5	$	55.9
Net income allocated to SiriusPoint participating common shareholders	(7.2)		(6.1)		(6.5)		(4.0)		(4.0)
Net income allocated to SiriusPoint common shareholders	$	102.7	$	84.7	$	87.0	$	53.5	$	51.9

Basic earnings per share available to SiriusPoint common shareholders (1)	$	0.60	$	0.50	$	0.52	$	0.33	$	0.32

Diluted earnings per common share:
Net income available to SiriusPoint common shareholders	$	109.9	$	90.8	$	93.5	$	57.5	$	55.9
Net income allocated to SiriusPoint participating common shareholders	(7.2)		(6.1)		(6.5)		(4.0)		(4.0)

Net income allocated to SiriusPoint common shareholders	$	102.7	$	84.7	$	87.0	$	53.5	$	51.9

Diluted earnings per share available to SiriusPoint common shareholders (1)	$	0.57	$	0.49	$	0.50	$	0.32	$	0.31

(1)Basic earnings 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 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 18 of 20

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)


	June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023
Net income available to SiriusPoint common shareholders	$	109.9		$	90.8		$	93.5		$	57.5		$	55.9
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period	2,402.6			2,313.9			2,050.0			2,036.0			2,029.9


Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period	2,504.1			2,402.6			2,313.9			2,050.0			2,036.0
Average common shareholders’ equity attributable to SiriusPoint common shareholders	$	2,453.4		$	2,358.3		$	2,182.0		$	2,043.0		$	2,033.0
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (1)	17.9		%	15.4		%	17.1		%	11.3		%	11.0		%

(1)Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income 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 19 of 20

SiriusPoint Ltd.

Book Value per Share - by Quarter

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


	June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023		June 30, 2023


Common shareholders’ equity attributable to SiriusPoint common shareholders	$	2,504.1	$	2,402.6	$	2,313.9	$	2,050.0	$	2,036.0


Intangible assets	(146.8)		(149.8)		(152.7)		(155.6)		(158.5)
Tangible common shareholders' equity attributable to SiriusPoint common shareholders	$	2,357.3	$	2,252.8	$	2,161.2	$	1,894.4	$	1,877.5

Common shares outstanding	170,572,790		169,753,232		168,120,022		165,068,101		163,200,630
Effect of dilutive stock options, restricted share units, warrants and Series A preference shares	4,465,438		6,340,997		5,193,920		4,236,254		3,964,586
Book value per diluted common share denominator	175,038,228		176,094,229		173,313,942		169,304,355		167,165,216

Book value per common share	$	14.68	$	14.15	$	13.76	$	12.42	$	12.48
Book value per diluted common share	$	14.31	$	13.64	$	13.35	$	12.11	$	12.18
Tangible book value per diluted common share (1)	$	13.47	$	12.79	$	12.47	$	11.19	$	11.23

(1)Tangible book value per diluted common share, as presented, is a non-GAAP financial measure and the most directly comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes intangible assets. 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. Tangible book value per diluted common share is useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets.

Page 20 of 20

SIRIUSPOINT LTD. – A GLOBAL UNDERWRITER 2024 Second Quarter and Half Year Results August 1, 2024

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 a non-GAAP financial measure and the most directly comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes intangible assets. 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. Tangible book value per diluted common share is useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measure is contained in our earnings release and our Form 10-K for the fiscal year ended December 31, 2023. 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,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “guidance,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. These statements also include, but are not limited to, statements regarding the transactions contemplated by the Confidential Settlement and Mutual Release Agreement (the “Settlement Agreement”), and concurrently therewith, a Share Repurchase Agreement (the “Share Repurchase Agreement” and, together with the Settlement Agreement, (collectively, the “Agreement”). 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; 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 interest rates, and foreign currency fluctuations; our ability to compete successfully in the insurance and reinsurance market and the effect of consolidation in the insurance and reinsurance 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; geopolitical uncertainty, including the ongoing conflicts in Europe and the Middle East; 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 exposure or potential exposure to corporate income tax in Bermuda and the E.U., 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, managing general underwriters and/or program administrators; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from any 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. Additionally, the transactions contemplated by the Agreement are subject to risks and uncertainties and factors that could cause the Company’s actual results to differ from those statements herein including, but not limited to: that the Company may be unable to complete the proposed transactions because, among other reasons, conditions to the closing of the proposed transactions are not be satisfied or waived; the occurrence of any event, change or other circumstance that could give rise to the termination of the Agreement; and the outcome of any legal proceedings to the extent initiated against the Company or others following the announcement of the proposed transaction, as well as the Company’s response to any of the aforementioned factors. 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

Agenda 3 • Introduction ◦ Key Messages ◦ Strategic Priorities Update ◦ Track Record of Delivery ◦ Specialized Business Model • Half Year and Quarterly Results Update

Introduction 4

5 Key Messages: Progress Across Strategic Priorities Shown in Results Notes: [1] Reflects Core business and adjusted for $10m of HY 23 reserve releases linked to LPT. [2] Adjusting Core business for Cyber and Workers' Compensation premiums exited during 2023. [3] See Appendix 2 on page 18. [4] SiriusPoint Group Bermuda Solvency Capital Ratio calculated as available economic capital and surplus divided by the enhanced capital requirement. Q2'24 figure is an estimate. [5] ROE calculated as annualized net income available to SiriusPoint common shareholders divided by average common shareholders' equity. [6] Underlying ROE excludes one-off benefit in relation to MGA actions taken during Q2'24. Strategic capital actions Outperforming net investment income; raising guidance 7th consecutive quarter of positive U/W results and targeted growth • H1 core underwriting income of $81m, with 92.5% COR containing 4 ppts of attritional loss ratio improvement • COR ex. LPT of 92.8%, a 1.0 ppt improvement YoY on a like-for-like basis1 (vs. 93.8% in H1 23) • 6% GPW growth YoY in continuing lines2 at H1 driven by North America Programs, London and Specialty • Q2'24 continuing lines2 growth strong at 22%, with significant contribution from programs launched in 2023 • PMLs down >50% since Q2'21, as part of de-risking actions • Increasing previous guidance to $275-$285m from $250m-$265m • Strong net investment income of $157m in H1 driven by higher yields, asset rotation and portfolio optimization • Series A Preference Shares fully settled with CMIG for cash • $125m of common shares repurchased from CMIG (9.1m shares) • Board share repurchases authorization of $306m • BSCR4 strong at 284% as of Q2'24, enhanced by strong underwriting, investment results and debt optimization • Debt to capital ratio of 19.3% • BVPS (ex. AOCI) up 9% YTD to $14.47 • Headline H1 ROE5 of 16.7%, with underlying ROE6 of 13.0% in-line with recently increased 12-15% medium-term guidance Enhancing distribution while continuing to rationalize MGA stakes • MGA actions including unlocked off balance sheet value resulted in a net $46m gain3 • Total MGA equity stakes down to 22 (vs. 36 at start of 2023) • 4 new programs added and 1 existing relationships expanded in Q2 Value creation on robust capitalization and de-risked balance sheet

6 Decisive Actions Across “Three Priorities” To Become a Better Performing Underwriter Simplify the Business Reduce Volatility Focus on Profitability and ROE What we said we would do: What we have done: Fully integrated “One SiriusPoint” with significant improvement on employee engagement metrics1 Ongoing rationalization of MGA equity stakes down to 22 from 36 Deconsolidation of Arcadian, with no future impact to net income Exit from non-core lines of business, such as Cyber and Workers’ Compensation Simplification of capital structure through $400m debt refinancing actions completed April 2024 Focused growth in A&H, Specialty and MGA, while reducing Property exposure from 22% to 16% of portfolio Executed on 2 loss portfolio transfers covering $1.7bn of reserves, removing risk from exited business Reduced PMLs by >50% since Q2 2021, resulting in lower Cat losses De-risked investment portfolio through asset reallocation to be more in-line with peers BSCR improved from 194% in Q3’22 to 284% today Disciplined underwriting actions resulting in 7th straight quarter of underwriting profit Execution of cost-saving actions that have resulted in >$50m of run-rate savings Improved net investment income with higher interest rates aided by tactical portfolio shift Implementation of capital management strategy: announced share repurchase and increased share repurchase authorization Established medium term target ROE of 12-15%. H1 annualized underlying ROE of 13.0%2 Notes: [1] See Appendix 1 on page 17. [2] ROE excludes gains from MGA actions.

7 Building a Track Record of Delivery Notes: [1] Reflects Core business. [2] Adjusted to exclude benefits relating to LPT transactions. [3] Net Income available to SiriusPoint common shareholders. [4] Book Value per Diluted Share excluding Accumulated Other Comprehensive Income. Core Combined Ratio (ex. LPT)1.2 Net Income3 Book Value Per Share (ex. AOCI)4 Favorable Prior Year Development1,2 $9.6 $2.0 $15.2 $10.2 $35.3 $6.5 $3.6 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 $— $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 $(26.6) $131.9 $55.9 $57.5 $93.5 $90.8 $109.9 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 $(40.0) $— $40.0 $80.0 $120.0 $160.0 $11.59 $12.41 $12.63 $12.91 $13.33 $13.74 $14.47 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 94.8% 96.8% 91.1% 92.9% 93.8% 91.7% 93.5% Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 80.0% 90.0% 100.0% Seven consecutive quarters of profitable underwriting performance Reserving prudence demonstrated by track record of favorable PYD Creating a track record of consistent earnings and value creation 25% growth in BVPS4, with significant off-balance sheet MGA value remaining (numbers in USD millions, except per share data

Casualty 34% A&H 29% Specialty 21% Property 16% 8 Specialized Business Model: All 3 Engines are Delivering Notes: [1] Reflects Core business. [2] Excludes reserve releases linked to LPT and deferred gain. [3] Strategic investments as of June 30, 2024. Investments also include holdings in Venture Capital (VC) funds. [4] SP premium refers to Gross Premium Written from IMG, Armada and Alta Signa on like-for-like basis. SP Premium including Arcadian is $332m. [5] Net services fee income includes services noncontrolling income. Net services fee income including Arcadian is $30m. [6] Following deconsolidation of Arcadian at 11:59 on 6/30/24, it was reclassified as an Investment with underwriting capacity. [7] SP premium refers to SiriusPoint Gross Premium Written from non-consolidated partnerships where we have equity stakes. [8] See Appendix 2 on page 18. [9] Total investment result calculated as the sum of Net realized and unrealized investment gains (losses), Net realized and unrealized investment gains (losses) from related party investment funds and Net investment income. [10] Fixed income investments exclude short-term investments. See Appendix 3 on page 19. Underwriting1 InvestmentsStrategic Investments3 HY 24 GPW by Specialism1 HY 24 GPW $1,723 HY 24 COR 92.5% HY 24 UW Income $81 1.0 ppt YoY improvement in COR1 YoY on a like-for-like basis2 $6m Cat losses1 in HY 24 vs. $7m in HY 23 Consolidated Investments Other Investments HY 24 Net Investment Income: $157 HY 24 Total Investment Result9: $103 IMG Alta Signa Investments with underwriting capacity6: 13 Other Investments: 6 Progress made towards MGA Rationalization8 HY 24 Consolidated MGA service revenue stable YoY Net services fee income5 grew 7% YoY, with 24% service margin 2024 FY net investment income guidance increase to $275m to $285m up from $250m to $265m Reduction in P&L volatility given 95% of our fixed income investments10 classified as available for sale ("AFS") assets HY 24 SP Premium7: $308 $ numbers in USD millions Armada Total MGAs 3 HY 24 SP Premium4 $141 HY 24 Net Services Fee Income5 $24 HY 24 Book Value $94 Deconsolidated at end of Q2'246Arcadian

Half Year and Quarterly Results Update 9

$ numbers in USD millions Q2'23 Q2'24 GPW1 $805 $843 NPW1 $588 $650 UW Income1 $63 $37 Net Services Fee Income1 $9 $10 Total Investment Result3 $66 $23 Net Income (Loss)4 $56 $110 COR1 (%) 89.4% 93.3% AY COR1 (%) 93.6% 94.2% Q1'24 Q2'24 Common Shareholders' Equity5 $2,403 $2,504 Q2 2024 Financial Results 10 Notes: [1] Reflects Core business. [2] Adjusting Core business for Cyber and Workers' Compensation premiums exited during 2023. [3] 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. [4] Net income (loss) available to SiriusPoint common shareholders. [5] Common shareholders’ equity attributable to SiriusPoint common shareholders at end of period. [6] Total expense ratio calculated as the sum of acquisition cost ratio and other underwriting expense (OUE) ratio. [7] As detailed on slide 18. [8] MTM = Mark to Market. • Continuing lines GPW (ex. 2023 exited business2) up 22% YoY, with headline GPW1 up 5% YoY • Net income4 of $110m, or $114m (ex. LPT) up 97% YoY • Core underwriting result (ex. LPT) decreased by $18m YoY driven by lower favorable PYD ($12m) and higher cat losses ($6m) • Underlying earnings quality (attritional loss ratio plus total expense ratio6) improved 0.4 ppts YoY • Net services fee income1 grew 3% to $10m, with the service margin increasing 1 ppt to 17% • Total investment result3 at $23m vs. $66m in Q2'23. • NII at $78m vs. $69m in Q2'23 • Net realized and unrealized losses includes some strategic MGA actions7 in the quarter • Other notable items impacting Q2'24 income: • $46m net gain from MGA actions7 • $16m interest expense of which $7m relates to LPT • $11m gain from MTM8 on liability-classified capital instruments • Common shareholders' equity5 at $2.5bn, up 4% in the quarter Key Comments ex. LPT $53 ex. LPT 91.1% ex. LPT $43 ex. LPT $36 ex. LPT $114 ex. LPT 93.5%

$ numbers in USD millions HY 23 HY 24 GPW1 $1,865 $1,723 NPW1 $1,352 $1,277 UW Income1 $171 $81 Net Services Fee Income1 $28 $30 Total Investment Result3 $140 $103 Net Income (Loss)4 $188 $201 COR1 (%) 85.1% 92.5% AY COR1 (%) 95.3% 93.6% FY 23 HY 24 Common Shareholders' Equity5 $2,314 $2,504 Half Year 2024 Financial Results 11 Notes: [1] Reflects Core business. [2] Adjusting Core business for Cyber and Workers' Compensation premiums exited during 2023. [3] 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. [4] Net income (loss) available to SiriusPoint common shareholders. [5] Common shareholders’ equity attributable to SiriusPoint common shareholders at end of period. [6] Total expense ratio calculated as the sum of acquisition cost ratio and other underwriting expense (OUE) ratio. [7] As detailed on slide 18. [7] MTM = Mark to Market. • Continuing lines GPW (ex. 2023 exited business2) up 6% YoY, with headline GPW1 down 8% YoY • Net income4 of $201m, supported by positive underwriting, investment result, net services fee income and MGA actions7 • Core underwriting result (ex. LPT) improved by $8m, benefiting from lower attritional losses and expenses • Underlying earnings quality (attritional loss ratio plus total expense ratio6) improved 1.5 ppts YoY • Net services fee income1 at $30m (up 7% YoY), with the service margin improving 1 ppt to 24% • Total investment result3 at $103m vs. $140m at HY 23 • NII at $157m (vs $130m at HY 23) • Net realized and unrealized losses at $54m includes some strategic MGA actions7 in the quarter • Other notable items impacting income: • $45m gain from MGA actions7 • $36m interest expense ($14m related to LPT) • $5m gain from MTM8 on liability-classified capital instruments • Common shareholders' equity5 at $2.5bn, up 8% since FY 23 Key Comments ex. LPT $71 ex. LPT $94 ex. LPT 93.8% ex. LPT $78 ex. LPT $207 ex. LPT 92.8%

85.1% 93.8% 92.5% 92.8% HY 23 HY 23 ex. LPT Loss Ratio Acquisition Ratio OUE Ratio HY 24 LPT HY 24 ex. LPT Reinsurance 61.5% 55.3% 22.1% 26.9% 7.6% 7.7% HY 23 HY 24 Insurance & Services 65.8% 64.6% 24.8% 25.1% 7.3% 6.3% HY 23 HY 24 Attritional ratio3 4 ppts Cat ratio 0.1 ppt PYD4 ratio 0.5 ppt Underwriting Performance: Earnings Quality Improved 1.5 Points 12 COR Walk1 $ numbers in USD millions Trends in Underlying Earnings Quality Attritional Loss Ratio3 OUE Ratio Key Comments (3 ppts) 3 ppt Notes: [1] Reflects Core business. [2] Reflects Core business adjusted for $100m of HY 23 reserve releases linked to LPT. [3] Attritional loss ratio excludes catastrophe losses and prior year loss reserve development from the loss ratio. [4] PYD = Prior Year Development. [5] Total expense ratio calculated as the sum of acquisition cost ratio and other underwriting expense (OUE) ratio. (0.4 ppt) Core 63.8% 60.2% 23.5% 26.0% 7.4% 7.0% HY 23 HY 24 • 1.5 ppts of underlying earnings quality improvement YoY in Core business as the increase in acquisition cost ratio due to change in business mix is more than offset by decreases in our attritional loss ratio3 and OUE ratio • Portfolio actions supporting results, headline HY 24 COR at 92.5%1 supported by lower attritional losses and expenses • 1.0 ppts of COR improvement on a like-for-like basis1 (92.8% in HY 24 vs. 93.8% at HY 23 ex. LPT) • As a reminder our cat risk has material reduced, with PMLs down >50% since Q2'21 • We maintain a prudent reserving philosophy 2 94.7% 93.2% 97.9% 96.0% 91.2% 89.9% Attritional Loss Ratio plus Total Expense Ratio5 0.3 ppt Acquisition Cost Ratio

HY 24 Insurance & Services Continuing Lines2 GPW Growth $ numbers represent Gross Premiums Written in USD millions Key Comments • Core premiums down 8% on a headline basis for HY 24, with exited business expected to impact GPW through 2024 • Strong continuing lines growth (ex. 2023 exited business2) of 22% in Q2'24 and 6% for HY 24 • Strong HY 24 Insurance & Services continuing lines growth of 16% from both NA and International Programs, with significant contributions from Programs launched in 2023 • Reinsurance slight reduction reflects continued reduction in US Casualty offset by growth in Bermuda Property and Specialty lines • All specialisms within Core business pivoted to double-digit premium growth (ex. 2023 exited business2) in Q2'24 $1,865 $1,723 $1,112 $1,015 $754 $709 HY 23 HY 24 HY 23 HY 24 HY 23 HY 24 Core Insurance & Services Reinsurance 13 Premium Trends: Continuing Lines Poised for Growth Notes: [1] The dotted area represents $234m of Cyber and Workers' Compensation business put into run off in 2023. [2] Core business adjusted for exited programs in Cyber and Workers' Compensation. 16% (6)% 6% >15% New MGA Programs Onboarded in HY 24 +7 Total +5 International Q2'24 Insurance & Services Continuing Lines2 GPW Growth >40% 1 1

$140 $103 HY 23 HY 24 $130 $157 HY 23 HY 24 Prior 2024E Updated 2024E Investment Income: De-Risked and Benefiting from Rate Increases 14 $ numbers in USD millions Key Comments Notes: [1] 2024 NII guidance based on current forward yield curves. [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. $275-$2851 Net Investment Income Total Investment Result2 • NII higher at $157m in HY 24 (vs. $130m in HY 23) • 2024 full year NII guidance increased to $275m-$285m from $250m-$265m1 • Total investment result2 lower at $103m (vs. $140m in HY 23) largely due to strategic MGA actions in Q2 • Assets backing loss reserves duration stable at ~2.9 years (vs. ~2.9 years at Q1'24) and we are fully matched • Average re-investment rate >4.5% during Q2 $250-$265 Updated NII Guidance Assumptions • Two rate cuts in H2'24 rate based on the forward yield curve • ~4.5% average re-investment rate

$1,264 $1,281 $3,293 $3,637 Required Capital Available Capital Q1'24 Q2'24 15 Notes: [1] SiriusPoint Group BSCR calculated as available economic capital and surplus divided by the enhanced capital requirement as of March 31, 2024 and June 30, 2024, respectively. 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] Q1'24 and Q2'24 capital mix 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 261% 284% • Continue to operate the business against 'AA’ rating requirement under S&P model • Debt to capital ratio4 at 19.3% at Q2'24 and remains within target range (vs. Q1'24: 22.8%) supported by $115m of debt retirement • BSCR1 strong at 284% as of Q2'24 (Q1'24: 261%) supported by $400m of debt refinancing actions • $300m undrawn Revolving Credit Facility for backup liquidity and financial flexibility Financial Strength Rating (FSR)2: Key Comments A- (Stable) A- (Stable) A- (Stable) 66% 61% 31% 28% 3% 11% Tier 1 Tier 2 Tier 3 Q1'24 Q2'24 Affirmed March 12, 2024 Affirmed January 29, 2024 Affirmed April 26, 2024 Strong Mix of Capital3 BSCR1 $ numbers in USD millions A3 (Stable) Assigned March 19, 2024

Appendix

People: Strong Improvements Against All Engagement Metrics Overall Engagement Score Recognition Response Rate Development 81 81 94 Alignment 86 Wellbeing 70 Leadership 87 Collaboration 82 Net Promoter Score2 Pride 76 +4 +5 +4 +9 +7 +5 +6 +13 +37 +5 +13 80 A multitude of actions has led to significant improvement in employee engagement over the last 12 months1 Culture Workshops Established Global Collaboration Windows Established Listening Groups Globally Launched Leadership Development Program Established Local Social & Charity Committees Enhanced Achiever Recognition Program Launched LinkedIn & Learning Platform Redesigned Referral Program Established New Hire Buddy Program Centralized recruitment approach to target high caliber talent Notes: [1] Overall engagement and drivers are scored 0 to 100. Average scores of 70 and above are considered a positive result, in line with the &Frankly external benchmark which is the average results of other organizations utilizing the &Frankly engagement survey (approximately 600 companies). Results are compared with the previous employee engagement survey from Q2'23. [2] The Net Promoter Score is scored -100 to 100, and based on the question "Would you recommend working at SiriusPoint to a friend?". Average scores of above 0 are considered 'good', scores between 20-30 are considered 'great', which scores of 30 and above being 'exceptional'. 17 Appendix 1

Continued Progress on Rationalization of Strategic Investments Q2 Actions Post Q2 Position Deconsolidation of Arcadian, crystallizing the economic value onto the SiriusPoint Balance Sheet No impact to underwriting economics or relationship No impact to Net Income1 Consolidated MGAs 18 Strategic Investments Sale of equity holdings in Vyrd completed in the quarter Taken additional actions on 4 MGA stakes 3 Consolidated MGAs remain, with significant unrecognized off-balance sheet value Carrying value of $94m, with HY 24 net service fee income of $24m1 13 Investments with underwriting capacity, down 8 since start of 2023 6 Other Strategic Investments, down 4 since start of 2023 Continue to seek distribution partnerships without taking equity stakes through MGA Centre of Excellence 100% Owned 100% Owned Note if deleted - slide 9&10 refers to this 75% Owned Notes: [1] HY 24 Net Service Fee Income excludes $5.2m of fee income related to Arcadian which is no longer consolidated. Summary The overall net impact of the Q2 actions results in a $46m gain on the income statement Significant off-balance sheet value remains despite Q2 execution on MGA rationalization Appendix 2

1% 39% 26% 18% 11% 1%4% TPE Short-term Investments De-risked Investment Portfolio: In-line with Industry 19 Q2'24: $6.8bn 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. Q1'24: $7.3bn 1 2 AAA AA A BBB Not Rated / Below IG Gov’t ABS/MBS/CLO Cash Corporate Other SiriusPoint ABS/MBS/CLO Corporate —% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Q2'24 Fixed Income Portfolio Credit Quality3 Key Comments • Total investment portfolio lower at $6.8bn • Average credit rating at AA for our fixed income portfolio with limited exposure to below investment grade/non- rated fixed income instruments • No defaults across portfolio in Q2'24 • As a percentage of tangible common shareholders’ equity4: • BBB represents 25% (vs. Q1'24: 25%) • Below investment grade / non-rated represents 4% (vs. Q1'24: 4%) • 80% of securitized assets have AAA/AA ratings • Assets backing loss reserves duration stable at ~2.9 years (vs. ~2.9 years at Q1'24) and we are fully matched • Overall asset duration increased to ~3.0 years up from ~2.9 years at Q1’24 • Total asset leverage5 at 2.9x (vs. Q1'24: 3.2x) Investment Balances by Asset Class 1% 35% 24% 16% 15% 5% 4% Appendix 3

Thank You

SiriusPoint Announces Dividend on Series B Preference Shares

HAMILTON, Bermuda August 1, 2024 -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), an international specialty insurer and reinsurer, has announced that the Audit Committee of 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 August 30, 2024 to Series B shareholders of record as of August 15, 2024.

About SiriusPoint

Contacts

Investor Relations

Sarah Singh, VP, Strategy and Investor Relations

sarah.singh@siriuspt.com

+1 646 884 4310

Media

Sarah Hills, Rein4ce

sarah.hills@rein4ce.co.uk

+ 44 7718882011

Cover Document	Aug. 01, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Aug. 01, 2024
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

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