SiriusPoint Ltd
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
SPNT$27.38+3.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the nine months ended September 30, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| Operating activities | ||
| Net income | $219.4 | $264.0 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Share compensation | 15.9 | 15.7 |
| Net realized and unrealized loss on investments and derivatives | 48.0 | 1.8 |
| Net realized and unrealized gain on investment in related party investment funds | (8.9) | — |
| Change in fair value of liability-classified capital instruments | 31.9 | 44.4 |
| Amortization of premium and accretion of discount, net | (49.8) | (57.5) |
| Amortization of intangible assets | 8.9 | 8.2 |
| Other items, net | (26.3) | (9.5) |
| Changes in assets and liabilities: | ||
| Insurance and reinsurance balances receivable, net | (102.8) | (174.8) |
| Deferred acquisition costs, net | (21.1) | (38.1) |
| Unearned premium reserves, net of unearned premiums ceded | 38.7 | 125.8 |
| Loss and loss adjustment expense reserves, net of loss and loss adjustment expenses recoverable | 190.4 | (757.9) |
| Deferred tax asset/liability | 0.8 | 41.1 |
| Other assets | (127.1) | (33.3) |
| Interest and dividends receivable | (7.1) | (14.4) |
| Deferred gain on retroactive reinsurance | (6.2) | 25.8 |
| Reinsurance balances payable | (227.1) | 919.8 |
| Accounts payable, accrued expenses and other liabilities | (10.6) | 6.8 |
| Net cash provided by (used in) operating activities | (33.0) | 367.9 |
| Investing activities | ||
| Purchases of debt securities, available-for-sale | (1,893.1) | (2,793.3) |
| Purchases of short-term investments | (375.7) | (1,150.8) |
| Purchases of other investments | (25.8) | (7.6) |
| Proceeds from sales and maturities of debt securities, available-for-sale | 1,365.7 | 929.0 |
| Proceeds from sales and maturities of debt securities, trading and short-term investments | 1,009.3 | 2,525.5 |
| Proceeds from sales and maturities of other investments | 51.4 | 79.4 |
| Change in due to/from brokers, net | 8.6 | 22.5 |
| Net cash provided by (used in) investing activities | 140.4 | (395.3) |
| Financing activities | ||
| Payment of redemption of debt | (517.9) | — |
| Proceeds from issuance of debt, net of costs | 393.9 | — |
| Purchases of SiriusPoint common shares under share repurchase program | (129.7) | — |
| Net payments on deposit liability contracts | (98.2) | (7.6) |
| Settlement of liability-classified capital instruments | (40.8) | (38.5) |
| Net proceeds from exercise of options | 18.5 | 10.4 |
| Cash dividends paid to preference shareholders | (12.0) | (12.0) |
| Taxes paid on withholding shares | (7.5) | (9.2) |
| Repayment of loans under an agreement to repurchase | — | (18.0) |
| Change in total noncontrolling interests, net | 0.2 | (0.2) |
| Net cash used in financing activities | (393.5) | (75.1) |
| Net decrease in cash, cash equivalents and restricted cash | (286.1) | (102.5) |
| Cash, cash equivalents and restricted cash at beginning of period | 1,101.3 | 913.7 |
| Cash, cash equivalents and restricted cash at end of period | $815.2 | $811.2 |
| The accompanying Notes to the Consolidated Financial Statements are an integral part of the Consolidated Financial Statements. | ||
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