SiriusPoint Ltd
For the period ended Jun 30, 2025. Filed Aug 4, 2025.
View on SEC.govAbout this filing
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.
Jun 30, 2025 · Filed Aug 4, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Cover page
Show cover page
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2025
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to |
|---|
Commission File Number 001-36052
(Exact name of registrant as specified in its charter)
| Bermuda | 98-1599372 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Point Building
3 Waterloo Lane
Pembroke HM 08, Bermuda
+1441 542-3300
(Address of Principal Executive Offices) (Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Shares, $0.10 par value | SPNT | New York Stock Exchange |
| 8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share | SPNT PB | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐
As of July 31, 2025, the registrant had 116,759,539 common shares issued and outstanding.
SiriusPoint Ltd.
INDEX
| Page | |
|---|---|
| PART I. FINANCIAL INFORMATION | 1 |
| Item 1. Financial Statements | 1 |
| Consolidated Balance Sheets as of June 30, 2025 (unaudited) and December 31, 2024 | 1 |
| Consolidated Statements of Income for the three and six months ended June 30, 2025 and 2024 (unaudited) | 2 |
| Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2025 and 2024 (unaudited) | 3 |
| Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2025 and 2024 (unaudited) | 4 |
| Consolidated Statements of Cash Flows for the three and six months ended June 30, 2025 and 2024 (unaudited) | 5 |
| Notes to the Consolidated Financial Statements | |
| Note 1. Organization | 6 |
| Note 2. Significant accounting policies | 6 |
| Note 3. Segment reporting | 6 |
| Note 4. Cash, cash equivalents, restricted cash and restricted investments | 13 |
| Note 5. Fair value measurements | 13 |
| Note 6. Investments | 19 |
| Note 7. Total net investment income and net realized and unrealized investment gains (losses) | 23 |
| Note 8. Derivatives | 24 |
| Note 9. Variable and voting interest entities | 26 |
| Note 10. Loss and loss adjustment expense reserves | 28 |
| Note 11. Allowance for expected credit losses | 29 |
| Note 12. Debt and letter of credit facilities | 30 |
| Note 13. Income taxes | 31 |
| Note 14. Shareholders' equity | 32 |
| Note 15. Earnings per share available to SiriusPoint common shareholders | 33 |
| Note 16. Related party transactions | 33 |
| Note 17. Commitments and contingencies | 34 |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 36 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 59 |
| Item 4. Controls and Procedures | 61 |
| PART II. OTHER INFORMATION | 61 |
| Item 1. Legal Proceedings | 61 |
| Item 1A. Risk Factors | 61 |
| Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities | 62 |
| Item 3. Defaults Upon Senior Securities | 62 |
| Item 4. Mine Safety Disclosures | 62 |
| Item 5. Other Information | 62 |
| Item 6. Exhibits | 63 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.