Updated: Aug 06, 2024 07:32 PM
Scott Egan, chief executive of SiriusPoint (Photograph supplied)
SiriusPoint Ltd, the Bermudian-headquartered global specialty insurer and reinsurer, has reported net income available to common shareholders of $109.9 million in the second quarter of the year.
Core income was $46 million, including underwriting income of $36.9 million, and a core combined ratio of 93.3 per cent.
Core net services fee income was $9.7 million, with a service margin of 16.9 per cent.
Net investment income was $78.2 million.
The return on average common equity was 17.9 per cent.
Scott Egan, Sirius chief executive, 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 per cent for the half year, or 92.8 per cent excluding the loss portfolio transfer, which is a one-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 programmes, International and Specialty. Q2 was strong in this regard with growth in gross premiums of 22 per cent for continuing lines business.”
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Publish date : 2024-08-06 06:56:00
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