Bermuda's SiriusPoint Q1 net income rises, combined ratio improves

Siriuspoint

07/05/2026 22:09

Overview

Bermuda specialty underwriter's Q1 net income rose yr/yr, with operating EPS up 37%

Core combined ratio improved to 88.9% from 95.4%, driven by lower catastrophe losses

Company returned $242 mln to shareholders, ups 2026 buyback commitment by $74 mln

Outlook

Company did not provide financial guidance

Result Drivers

LOWER CATASTROPHE LOSSES - Co said underwriting income improved mainly due to a significant drop in catastrophe losses

INSURANCE & SERVICES GROWTH - Premium growth in Accident & Health, General Liability, and Surety offset declines in Reinsurance premiums

FAVORABLE PRIOR YEAR DEVELOPMENT - Results benefited from favorable prior year loss reserve development, mainly in Credit and A&H

Company press release: ID:nGNE3ZBY0p

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Gross Premiums
$684.60 mln
Q1 Net Income
$100 mln
$78.50 mln (2 Analysts)
Q1 Core Combined Ratio
88.90%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the reinsurance peer group is "buy"

Wall Street's median 12-month price target for Siriuspoint Ltd is $24.00, about 3.1% above its May 6 closing price of $23.28

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)