SiriusPoint has reported net income available to common shareholders for the full year 2025 of $444 million, while consolidated underwriting income for the year expanded to $302.8 million from $276.4 million in 2024.
The firm explained that the improvement in underwriting income was mainly driven by premium growth and a stronger attritional loss ratio, partly offset by lower favourable prior-year reserve development and higher catastrophe losses.
SiriusPoint also disclosed a $512.1 million, or 16.1%, increase in gross written premium to $3.688 billion in 2025, up from $3.176 billion in 2024.
Meanwhile, net earned premium rose by $392.4 million, or 17.8%, to $2.591 billion from $2.199 billion a year earlier.
The firm said that the increases in premium volume were primarily driven by the Insurance & Services segment, including growth across A&H, expansion of Surety within our Other Specialties business line, and continued strategic organic and new program growth in international business, specifically London MGAs.
SiriusPoint’s core underwriting results for 2025 included income of $256.2 million compared to $244.6 million in 2024.
The 2025 result comprised underwriting income of $214.3 million, representing a 91.7% combined ratio, and net services income of $41.9 million.
This compares with underwriting income of $200 million (91% combined ratio) and net services income of $44.6 million for 2024.
As per SiriusPoint, the improvement in net underwriting results was primarily driven by premium growth and a lower attritional loss ratio, partially offset by reduced favourable prior year reserve development and higher catastrophe losses.
SiriusPoint’s favourable prior year reserve development totalled $72.2 million in 2025, mainly within Property, driven by reserve releases related to prior-year catastrophe events, as well as in A&H, reflecting lower-than-expected reported losses.
This compares with $100.7 million of favourable development in 2024, largely in Property and Other Specialties, also related to prior-year catastrophe reserve releases.
Catastrophe losses increased to $74.4 million in 2025, equivalent to 2.9 percentage points on the combined ratio, primarily due to the California wildfires.
In 2024, catastrophe losses were $54.8 million, or 2.5 percentage points on the combined ratio.
As for SiriusPoint’s reinsurance segment alone in 2025, gross written premiums were $1.375 billion, an increase of $39.4 million, or 2.9%, compared to 2024.
The firm observed that this was primarily driven by new business and organic growth in London and New York Casualty, Credit within Other Specialties, and New York Property, partially offset by decreases in Bermuda Property, due to underlying rate decreases and growth reductions, and in Aviation.
SiriusPoint’s reinsurance segment generated underwriting income of $90.5 million (91.8% combined ratio) for 2025, compared to $124.8 million (88.0% combined ratio) for 2024.
The decrease in net underwriting results for 2025 compared to 2024 was primarily driven by an increase in catastrophe losses of $17.6 million and a decrease in favourable prior year development of $34.9 million.
For Q4 2025 alone, SiriusPoint reported net income available to common shareholders of $240 million.
In the quarter, the firm generated an annualised return on equity of 44.9% and an operating return on equity of 17.1%. Gross and net written premiums grew by 18% in Q4 2025, while the core combined ratio was 92.9%.
Scott Egan, Chief Executive Officer of SiriusPoint, commented, “The fourth quarter rounded out another very strong year for SiriusPoint. Our disciplined underwriting strategy, customer mindset, and relentless focus on delivery means we have a lot to be pleased about in 2025.
“We enter 2026 with great momentum and determination. We are well positioned to navigate insurance market conditions, and we look forward to continuing to execute against our targets as we move closer to our ambition to becoming a best-in-class specialty underwriter. Our performance in 2025 is another important proof point for the company.
“I want to thank my colleagues for their hard work everyday and their unwavering support. These results would not be possible without their dedication and commitment.”
