SPNT on NYSE

SiriusPoint Ltd

SiriusPoint Ltd is a fire company based in Pembroke, Bermuda.2 Its shares trade on NYSE under the symbol SPNT.2

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Last updated Oct 21, 2026.

Overview

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  • TickerSPNT on NYSE2
  • IndustryFire, Marine & Casualty Insurance2
  • HeadquartersPembroke, Bermuda2
  • Incorporated inBermuda3
  • Business addressPoint Building, 3 Waterloo Lane, Pembroke, Hm 083
  • Filer categoryLarge accelerated filer3
  • Legal formExempted Companies Limited by Shares2
  • LEI549300OGXFI85N3YZZ512
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address3 Waterloo Lane, HM 08 Pembroke, Bermuda2
  • Registered withRegistrar of Companies (Ministry of Economic Development), 458342

We have licenses to write property, casualty, and accident & health insurance and reinsurance globally, including admitted and non-admitted licensed companies in the United States, a Bermuda Class 4 company, a Lloyd’s of London (“Lloyd’s”) syndicate and managing agency, and an internationally licensed company domiciled in Sweden. We have offices in 10 countries with a total employee population of 1,099 people.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

14.3%Net margin6
23.1%Revenue growth, 20256
18.6%Return on equity6
0.28×Debt to equity6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs81¢$2.6B
  • Interest2¢$79.7M
  • Income tax3¢$81.2M
  • Profit14¢$459.6M

Out of $3.2B in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks100¢$490.8M

Out of $102.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6

Financial statements

Revenue789106$3.2B in 2025+226% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $982.6M$982.6M20192020: $889.7M$889.7M2020−9%2021: $2.2B$2.2B2021+145%2022: $2.1B$2.1B2022−3%2023: $2.7B$2.7B2023+30%2024: $2.6B$2.6B2024−5%2025: $3.2B$3.2B2025+23%
Net income789106$459.6M in 2025+129% since 2019
-$500.0M-$250.0M0$250.0M$500.0M2019: $200.6M$200.6M20192020: $143.5M$143.5M2020−28%2021: $58.1M$58.1M2021−60%2022: -$386.8M-$386.8M20222023: $354.8M$354.8M20232024: $199.9M$199.9M2024−44%2025: $459.6M$459.6M2025+130%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Net earned premium$2.6B$2.3B$2.4B
Net investment income$274.8M$303.6M$283.7M
Net realized and unrealized investment losses-$2.9M-$79.0M-$11.0M
Net investment income and net realized and unrealized investment losses$271.9M$224.6M$272.7M
Other revenues$339.4M$184.2M$97.8M
Loss on settlement and change in fair value of liability-classified capital instruments$0-$148.5M-$59.4M
Total revenues$3.2B$2.6B$2.7B
Loss and loss adjustment expenses incurred, net$1.5B$1.4B$1.4B
Acquisition costs, net$583.6M$516.9M$472.7M
Other underwriting expenses$187.9M$181.7M$196.3M
Net corporate and other expenses$257.0M$232.1M$258.2M
Intangible asset amortization$10.9M$11.9M$11.1M
Interest expense$79.7M$69.6M$64.1M
Foreign exchange (gains) losses$25.2M-$10.0M$34.9M
Total expenses$2.7B$2.4B$2.4B
Income before income tax (expense) benefit$541.3M$233.1M$318.7M
Income tax (expense) benefit-$81.2M-$30.7M$45.0M
Net income$460.1M$202.4M$363.7M
Net income attributable to noncontrolling interests-$500.0K-$2.5M-$8.9M
Net income available to SiriusPoint$459.6M$199.9M$354.8M
Dividends on Series B preference shares-$16.0M-$16.0M-$16.0M
Net income available to SiriusPoint common shareholders, basic$443.6M$183.9M$338.8M
Net income available to SiriusPoint common shareholders, diluted$443.6M$183.9M$338.8M
Basic earnings per share available to SiriusPoint common shareholders (in dollars per share)$3.80$1.06$1.93
Diluted earnings per share available to SiriusPoint common shareholders (in dollars per share)$3.64$1.04$1.85
Basic (in shares)116.5M shares166.5M shares163.3M shares
Diluted (in shares)121.6M shares169.5M shares169.6M shares

Compare SiriusPoint Ltd with another company

Corporate structure

SiriusPoint Ltd sits at the top of its group. 29 entities, 9 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SiriusPoint Ltd

  • SiriusPoint Ltd Pembroke, Bermuda
    • Akeso Care Management, Inc. Subsidiary · Indiana, United States
    • ALC Health (Hong Kong) LTD. Subsidiary · Hong Kong
    • Alstead Reinsurance Ltd. Subsidiary · Bermuda
    • Gate's Bay Services Limited Subsidiary · United Kingdom
    • Global Response Limited Subsidiary · United Kingdom
    • IMG CANADA INSURANCE SERVICES LTD. Subsidiary · Canada
    • IMG Europe AB Subsidiary · Sweden
    • International Medical Administrators, Inc. Subsidiary · Nebraska, United States
    • International Medical Group Holdings Limited Subsidiary · United Kingdom
    • International Medical Group Limited Subsidiary · United Kingdom
    • iTravelInsured, Inc. Subsidiary · Indiana, United States
    • Oakwood Insurance Company Subsidiary · Tennessee, United States
    • S.I. Holdings (Luxembourg) S.á r.l Subsidiary · Luxembourg
    • Sirius Acquisitions Holding Company Subsidiary · Delaware, United States
    • Sirius Global Services LLC Subsidiary · Delaware, United States
    • Sirius Group International S.á r.l Subsidiary · Luxembourg
    • Sirius Insurance Holding Sweden AB Subsidiary · Sweden
    • SIRIUS INTERNATIONAL CORPORATE MEMBER LIMITED Subsidiary · London, United Kingdom
    • SIRIUS INTERNATIONAL HOLDINGS (NL) B.V. Subsidiary · Amsterdam, Netherlands
    • Sirius International Managing Agency Limited Subsidiary · United Kingdom
    • Sirius International UK Holdings II Ltd Subsidiary · United Kingdom
    • Sirius Re Holdings, Inc. Subsidiary · Delaware, United States
    • SiriusPoint America Insurance Company Subsidiary · New York, United States
    • SiriusPoint Bermuda Insurance Company Ltd. Subsidiary · Bermuda
    • SiriusPoint International Advisory Zurich LLC Subsidiary · Switzerland
    • and 3 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SiriusPoint Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$20.7M6 Dec 31, 2025$22.8M6 Dec 31, 2024−9.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$731.2M6 Dec 31, 2025$682.0M6 Dec 31, 2024+7.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$121.2M6 Dec 31, 2025$140.8M6 Dec 31, 2024−13.9%
Finite-lived intangibles, net$73.3M6 Dec 31, 2025$93.0M10 Dec 31, 2024−21.2%

Properties, in its own words

The Company leases office space in Pembroke, Bermuda where the Company’s principal executive office is located. Additionally, the Company leases office space throughout the United States, United Kingdom and Europe. We renew and enter into new leases in the ordinary course of business. We believe that our office space is sufficient for us to conduct our operations for the foreseeable future. For further discussion of our leasing commitments at December 31, 2025, refer to Note 21 “Commitments and contingencies” in our audited consolidated financial statements included elsewhere in this Annual Report.

Item 2 of the 10-K filed Feb 24, 2026.5

Leadership

Who has led SiriusPoint Ltd, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (48)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ALC Health (Hong Kong) LTD. Hong Kong4
  • Akeso Care Management, Inc. Indiana4
  • Alstead Reinsurance Ltd. Bermuda4
  • Gate's Bay Services Limited United Kingdom4
  • Global Response Limited United Kingdom4
  • IMG CANADA INSURANCE SERVICES LTD. Canada4
  • IMG Europe AB Sweden4
  • IMG Europe Ltd. United Kingdom4
  • International Medical Administrators, Inc. Nebraska4
  • International Medical Group Holdings Limited United Kingdom4
  • International Medical Group Limited United Kingdom4
  • International Medical Group, Inc. Indiana4
  • Oakwood Insurance Company Tennessee4
  • S.I. Holdings (Luxembourg) S.á r.l Luxembourg4
  • Sirius Acquisitions Holding Company Delaware4
  • Sirius Global Services LLC Delaware4
  • Sirius Group International S.á r.l Luxembourg4
  • Sirius Insurance Holding Sweden AB Sweden4
  • Sirius International Corporate Member Limited United Kingdom4
  • Sirius International Managing Agency Limited United Kingdom4
  • Sirius International UK Holdings II Ltd United Kingdom4
  • Sirius Re Holdings, Inc. Delaware4
  • SiriusPoint America Insurance Company New York4
  • SiriusPoint Bermuda Insurance Company Ltd. Bermuda4
All 29 listed subsidiaries
  • SiriusPoint International Advisory Zurich LLC Switzerland4
  • SiriusPoint International Insurance Corporation (publ) Sweden4
  • SiriusPoint Specialty Insurance Corporation New Hampshire4
  • White Sands Holdings (Luxembourg) S.á r.l Luxembourg4
  • iTravelInsured, Inc. Indiana4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Third Point Reinsurance Ltd.May 14, 2013 to Feb 26, 20213

Timeline

  1. Jul 29, 20268-K Results of operations; Regulation FD disclosure77
  2. May 21, 20268-K Shareholder vote78
  3. May 7, 20268-K Results of operations; Regulation FD disclosure79
  4. Mar 30, 20268-K Change in control80
  5. Mar 23, 20268-K Executive or director change81
  6. Mar 16, 20268-K Executive or director change; Regulation FD disclosure82
  7. Feb 18, 20268-K Results of operations; Regulation FD disclosure83
  8. Feb 12, 20268-K Other events84
  9. Jan 30, 20268-K Other events85
  10. Jan 29, 20268-K Other events86
  11. Nov 3, 20258-K Other events87
  12. Oct 30, 20258-K Results of operations; Regulation FD disclosure; Other events88
  13. Mar 8, 2023New chief executive Robin Gibbs becomes CEO15
  14. Sep 22, 2022New chief executive Scott Egan becomes CEO16
  15. Mar 2, 2021New chief executive Sid Sankaran becomes CEO17
  16. Feb 28, 2019New chief executive Daniel Malloy V. becomes CEO18
  17. Jun 22, 2017New chief executive J. Robert Bredahl becomes CEO19
  18. Jun 10, 2011Founded SiriusPoint Ltd is founded2

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.72 a share, on Oct 30, 2025.89

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results77
  2. May 7, 2026Reported quarterly or annual results79
  3. Feb 18, 2026Reported quarterly or annual results83
  4. Oct 30, 2025Reported quarterly or annual results88
  5. Aug 4, 2025Reported quarterly or annual results90
  6. May 5, 2025Reported quarterly or annual results91
  7. Feb 18, 2025Reported quarterly or annual results92
  8. Oct 31, 2024Reported quarterly or annual results93

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

363 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 205 insider forms, 46 large holders, 23 other. The latest 20:

  1. Sep 2, 20264 EDGAR
  2. Aug 11, 2026SCHEDULE 13G EDGAR
  3. Jul 29, 202610-Q EDGAR
  4. Jul 29, 20268-K EDGAR
  5. Jun 2, 20264 EDGAR
  6. May 29, 20264 EDGAR
  7. May 29, 20264 EDGAR
  8. May 29, 20264 EDGAR
  9. May 29, 20264 EDGAR
  10. May 29, 20264 EDGAR
  11. May 29, 20264 EDGAR
  12. May 29, 20264 EDGAR
  13. May 27, 2026S-8 EDGAR
  14. May 21, 20268-K EDGAR
  15. May 14, 2026SCHEDULE 13G/A EDGAR
  16. May 14, 2026SCHEDULE 13G EDGAR
  17. May 13, 20264 EDGAR
  18. May 7, 202610-Q EDGAR
  19. May 7, 20268-K EDGAR
  20. May 4, 20264 EDGAR

The 363 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

10 open-market trades by officers, directors and large owners since October 2021: 7 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 8, 2025de la Gueronniere RafeDirectorSale30,000$19.55$586.5KForm 4
Feb 27, 2025Loeb Daniel SDirectorSale4,106,631$13.71$56.3MForm 4
Aug 13, 2024Cabat EvanChief Accounting OfficerSale2,000$14.43$28.9KForm 4
Jun 23, 2023TAN WEI HANDirectorBuy17,054$8.92$152.1KForm 4
Jun 5, 2023TAN WEI HANDirectorBuy1,542$9.00$13.9KForm 4
May 25, 2023Loeb Daniel SDirectorBuy105$23.75$2.5KForm 4
May 24, 2023Loeb Daniel SDirectorBuy728$23.74$17.3KForm 4
May 23, 2023Loeb Daniel SDirectorBuy28,463$23.68$674.0KForm 4
May 22, 2023Loeb Daniel SDirectorBuy5,500$23.29$128.1KForm 4
Nov 16, 2022Hayes Gretchen A.DirectorBuy4,200$5.98$25.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Scott EganCEO and Director54$1.2M$9.8M103
2025David E. GovrinGroup President & CEO of Global Reinsurance62$693.2K$3.6M103
2025James J. McKinneyChief Financial Officer46$640.9K$2.9M103
2025Thomas LeonardoGlobal Head of Accident and Health55$586.5K$2.6M103
2025Rob GibbsPresident & CEO, SiriusPoint International51$537.0K$1.5M103
2024Scott EganCEO and Director54$1.1M$9.4M103
2024David E. GovrinGroup President & CEO of Global Reinsurance62$672.0K$3.4M103
2024James J. McKinneyChief Financial Officer46$363.0K$2.2M103
2024Rob GibbsPresident & CEO, SiriusPoint International51$485.5K$1.8M103
2023Scott EganCEO and Director54$1.1M$10.3M103
2023David E. GovrinGroup President & CEO of Global Reinsurance62$675.0K$3.8M103
2023Rob GibbsPresident & CEO, SiriusPoint International51$477.5K$2.3M103

SEC filer profile

How SiriusPoint Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSiriusPoint Ltd1
  • CIK0001576018
  • Employer ID (EIN)98-15993725
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inBermuda5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6331 Fire, Marine & Casualty Insurance1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business addressPoint Building, 3 Waterloo Lane, Pembroke, HM 08, Bermuda1
  • Mailing addressPoint Building, 3 Waterloo Lane, Pembroke, Bermuda1
  • Phone1 441 542 33001
  • Shares outstanding116,165,016 as of Jul 24, 202613
  • Public float$2.1B as of Jun 30, 20255
  • AuditorPricewaterhouseCoopers LLP, New York, New York PCAOB ID 238; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceMay 14, 20131
  • Filings874 in all: 4 (389), 8-K (156), 3 (68), 10-Q (39), SC 13G/A (32), 10-K (13), 425 (13), DEF 14A (13)1
    All 46 form types

    SC 13G (12), CORRESP (11), SCHEDULE 13G (11), SCHEDULE 13G/A (11), UPLOAD (11), DEFA14A (9), 424B5 (8), FWP (8), 5 (6), SC 13D/A (6), 8-K/A (5), ARS (4), S-1/A (4), S-3ASR (4), 4/A (3), 424B7 (3), S-8 (3), SCHEDULE 13D/A (3), 144 (2), 424B3 (2), 8-A12B (2), DRS/A (2), DRSLTR (2), EFFECT (2), PRE 14A (2), S-4/A (2), SC 13D (2), 25-NSE (1), 3/A (1), 424B1 (1), 424B4 (1), CERT (1), CERTNYS (1), CT ORDER (1), DRS (1), S-1 (1), S-4 (1), S-8 POS (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Apr 10, 2026
    Latest 8-K (8-K) Jul 29, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, $0.10 par valueSPNTNew York Stock Exchange
8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per shareSPNT PBNew York Stock Exchange

From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks SiriusPoint Ltd names in Item 1A of its 10-K filed Feb 24, 2026: 62 risks under these headings, as written.5

  • Risks Relating to Our Business
  • Our results of operations fluctuate from period to period and may not be indicative of our long-term prospects.
  • We may be adversely impacted by inflation and the changing tariff landscape.
  • Operational, cybersecurity, technology-related, and artificial intelligence (“AI”) risks, including system failures, data breaches, ransomware attacks, supply chain compromises of third party service providers, failures or harmful outputs of AI models, or other business interruption events — including those resulting from malicious cyber-attacks on us or our business partners or service providers — could disrupt or otherwise negatively impact our business.
  • Competitors with greater resources may make it difficult for us to effectively market our products.
  • Consolidation in the insurance and reinsurance industry could adversely impact us.
  • If actual renewals of our existing contracts do not meet expectations, our premiums written in future years and our future results of operations could be materially adversely affected.
  • We may experience issues with outsourcing and third-party relationships which may impact our ability to conduct business in a prudent manner and could negatively impact our operations, results, and financial condition.
  • Given the inherent uncertainty of models and software, their usefulness as a tool to evaluate risk is subject to a high degree of uncertainty that could result in actual losses that are materially different than our estimates including Probable Maximum Losses (PMLs), and our financial results may be adversely impacted, perhaps significantly.
  • Our claims and claim expense reserves are subject to inherent uncertainties, which could cause our losses to exceed our loss reserves.
  • We are exposed to unpredictable catastrophic events that have adversely affected, and may in the future affect our results of operations and financial condition.
  • We have exposure to potential terrorist acts that can materially and adversely affect our business, results of operations and/or financial condition.
The other 51 risks
  • Global climate change may have a material adverse effect on our business, operating results and financial condition.
  • We are exposed to unpredictable casualty insurance risks that could adversely affect our results of operations and financial condition.
  • The property and casualty insurance and reinsurance industry is highly cyclical, and we expect to continue to experience periods characterized by excess underwriting capacity and unfavorable premium rates.
  • The effect of emerging claim and coverage issues on our business is uncertain and as a result, we may suffer losses from unfavorable outcomes from litigation and other legal proceedings.
  • Recent or future U.S. federal or state legislation may impact the private catastrophe risk markets and reduce the demand for our property insurance and reinsurance products.
  • We are reliant on financial strength and credit ratings, and any downgrade, withdrawal of ratings, or change in outlook may have a material adverse effect on our business, prospects, financial condition and results from operations.
  • We have significant foreign operations that expose us to certain additional risks, including foreign currency risks and legal, political and operational risks.
  • If we do not successfully manage transitions associated with key management changes, our business, reputation and ratings could be adversely affected.
  • We are dependent on key executives, the loss of whom could adversely affect our business.
  • Our inability to provide collateral to certain counterparties on commercially acceptable terms as we grow could significantly and negatively affect our ability to implement our business strategy.
  • Our ability to pay dividends may be constrained by our holding company structure and certain regulatory and other factors.
  • Inability to service our indebtedness could adversely affect our liquidity and financial condition and could potentially result in a downgrade or withdrawal of our credit ratings, any of which could adversely affect our financial condition and results of operations.
  • Our indebtedness may limit cash flow available to invest in the ongoing needs of our business and may otherwise place us at a competitive disadvantage compared to our competitors.
  • We may not have the liquidity or ability to raise the funds necessary to pay the principal or interest on our outstanding debt obligations.
  • We may need additional capital in the future in order to operate our business, and such capital may not be available to us or may not be available to us on acceptable terms. Furthermore, additional capital raising could dilute your ownership interest in the Company and may cause the value of your shares to decline.
  • We depend on our clients’ evaluations of the risks associated with their insurance underwriting, which may subject us to reinsurance losses.
  • The involvement of reinsurance brokers and MGAs subjects us to their credit risk, and the inability to obtain business provided from brokers could adversely affect our business strategy and results of operations.
  • We may be unable to purchase the retrocessional coverage we need, or we may be unable to collect on such coverage, either of which could adversely affect our business, financial condition, and results of operations.
  • We face risks arising from strategic transactions, such as acquisitions, dispositions, investments, mergers, joint ventures, or entry into new lines of business. These transactions can be significant and may negatively affect our reputation, business, financial condition, or results of operations.
  • If we fail to maintain an effective system of internal controls over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • We may incur losses as we execute on our strategy to develop our relationships with MGAs.
  • We face risks associated with delegating authority to third party MGAs to secure insurance and reinsurance policies on our behalf. If we fail to adequately oversee and manage these MGAs, we could experience unintended concentrations of risk or result significant underwriting losses, adversely affecting our business, financial condition, and operating results.
  • Damage to our reputation could have a material adverse effect on our business, financial condition, and operating results.
  • Increasing scrutiny and evolving expectations regarding our environmental, social, and governance (“ESG”) practices may impose additional costs on us or expose us to new or heightened risks.
  • Risks Relating to Our Investment Strategy
  • Conflicts of interest among Third Point LLC and its principals and SiriusPoint may adversely affect us; potential conflicts of interest may also arise or exist due to the compensation arrangements and other aspects of our investment arrangements with Third Point LLC and its affiliates.
  • The SiriusPoint investment portfolio may suffer reduced returns or losses, which could adversely affect our results of operations and financial condition. Adverse changes in interest rates, foreign currency exchange rates, equity markets,
  • debt markets or market volatility, as well as idiosyncratic risks of concentrated positions could result in significant losses to the fair value of our investment portfolio.
  • We face risks associated with joint ventures and investments in which we share ownership or management with third parties.
  • Risks Relating to Insurance and Other Regulations
  • The regulatory framework under which SiriusPoint operates and potential changes thereto could have a material adverse effect on its business.
  • We face risks related to changes in Bermuda law and regulations, and the political environment in Bermuda.
  • We are subject to the risk of becoming an investment company under U.S. federal securities law.
  • Changes in U.S. healthcare legislation could negatively affect our accident and health business.
  • Our operating subsidiaries are subject to minimum capital and surplus requirements, and our failure to meet these requirements could subject us to regulatory action.
  • Bermuda insurance laws regarding the change of control of insurance companies may limit the acquisition of our shares and the voting rights of certain shareholders.
  • Risks Relating to Taxation
  • We have significant deferred tax assets, which may become devalued if either SiriusPoint does not generate sufficient future taxable income or applicable corporate tax rates are reduced (or applicable tax laws otherwise change).
  • Certain of our non-U.S. entities may become subject to United States federal income taxation.
  • Certain of our intra-group transactions could become subject to the U.S. Base Erosion and Anti-Abuse Minimum Tax (“BEAT”), which could have a material adverse impact on operating results and make it difficult to forecast our effective tax rate.
  • Intra-group distributions and other payments of cash or other assets could become subject to incremental income or withholding taxes.
  • If we were treated as a passive foreign investment company (“PFIC”) for U.S. federal income tax purposes, our U.S. shareholders would be subject to adverse tax consequences.
  • If we were treated as a controlled foreign corporation (“CFC”) with respect to a U.S. shareholder or we were subject to the rules for related person insurance income (“RPII”), certain U.S. shareholders (including tax-exempts) could become subject to adverse tax consequences.
  • New tax laws and regulations, along with changes in existing tax laws and regulations, are continuously being proposed and enacted, which may affect our financial condition and results of operations; more specifically, Bermuda and other countries in which we operate have enacted new tax laws that may result higher taxation of the Company.
  • Risks Relating to Our Common Shares
  • Future sales of shares by existing shareholders could cause our share price to decline, even if our business is performing well.
  • Limited or changing analysts coverage could adversely affect our share price.
  • If the ownership of our common shares continues to be concentrated, it could prevent shareholders from influencing significant corporate decisions.
  • We do not intend to pay dividends on our common shares and, consequently, shareholders’ ability to achieve a return on their investment will depend on appreciation in the price of our common shares.
  • We may repurchase our common shares without our shareholders’ consent.
  • Holders of our shares may have difficulty effecting service of process on us or enforcing judgments against us in the U.S.
  • U.S. persons who own our shares may have more difficulty in protecting their interests than U.S. persons who are shareholders of a U.S. corporation.
  • Provisions in our Bye-Laws may reduce or increase the voting rights of our shares.
  • Our Bye-Laws contain provisions that could discourage takeovers and business combinations that our shareholders might consider in their best interests.
  • The market price of our common shares may fluctuate significantly.

Legal proceedings

The Company and its subsidiaries are subject to lawsuits and regulatory actions in the normal course of business that do not arise from or directly relate to claims on reinsurance treaties or contracts or direct surplus lines insurance policies. In the Company’s industry, business litigation may involve allegations of underwriting or claims-handling errors or misconduct, disputes relating to the scope of, or compliance with, the terms of delegated underwriting agreements, employment claims, regulatory actions or disputes arising from the Company’s business ventures. The Company’s operating subsidiaries are subject to claims litigation involving, among other things, disputed interpretations of policy coverages. Generally, the Company’s direct insurance operations are subject to greater frequency and diversity of claims and claims-related litigation than its reinsurance operations and, in some jurisdictions, may be subject to direct actions by allegedly injured persons or entities seeking damages from policyholders. These lawsuits, which involve or arise out of claims on policies issued by the Company’s subsidiaries, are typical to the insurance industry in general and in the normal course of our business. These claims are considered in the Company’s loss and loss expense reserves. In addition, the Company may from time to time engage in litigation or arbitration related to its claims for payment in respect of ceded reinsurance, including disputes that challenge the Company’s ability to enforce its underwriting intent. Such matters could result, directly or indirectly, in providers of protection not meeting their obligations to the Company or not doing so on a timely basis. The Company may also be subject to other disputes from time to time, relating to operational or other matters distinct from insurance or reinsurance claims.

The opening of Item 3, Legal Proceedings.5

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