SiriusPoint, a specialty insurer and reinsurer, has received an upgraded Financial Strength Rating of A (Excellent) from A- (Excellent) and a stable outlook by credit ratings agency AM Best.
Simultaneously, AM Best has also revised the Long-Term Issuer Credit Ratings (“ICR”) to “a” (Excellent) from “a-” (Excellent), and the Long-Term ICR to “bbb” (Good) from “bbb-” (Good) of SiriusPoint and its operating subsidiaries.
AM Best explained that these changes reflect SiriusPoint’s “very strong” consolidated balance sheet strength, adequate operating performance, neutral business profile, and appropriate enterprise risk management.
It should be noted that this upgrade comes two months after Fitch Ratings upgraded its Insurer Financial Strength rating of SiriusPoint’s operating subsidiaries to ‘A’ (Strong) from ‘A-‘.
According to the credit ratings agency, SiriusPoint’s disciplined underwriting and prudent capital management have underscored its ability to absorb volatility across underwriting cycles.
This reflects reinsurer’s execution of its focused underwriting strategy and deliberate approach to capital deployment.
AM Best also stated that the upgrade reflects SiriusPoint’s improved balance sheet strength fundamentals driven by management actions, including de-risking of its investment portfolio, reduction in its catastrophe exposure, and streamlining of its ownership structure.
As measured by AM Best’s Capital Adequacy Ratio (BCAR), the reinsurer’s “strongest” risk-adjusted capitalisation is expected to be maintained, supported by prudent capital management, effective underwriting exposure management and positive operating results.
Additionally, SiriusPoint’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2025, as measured by BCAR.
Lastly, AM Best expects the reinsurer’s prospective underwriting results to remain profitable with reduced volatility as its management continues to rebalance the business mix, moving away from catastrophe-exposed property business and toward less volatile accident and health and specialty lines of business.
Scott Egan, Chief Executive Officer, SiriusPoint, commented, “We are delighted with the upgrade from AM Best, which comes hard on the heels of Fitch’s upgrade earlier this year.
“These ratings actions reflect the progress the Company has made and further reinforce the overall strength of the business. We remain focused on building on this momentum.”
