SiriusPoint rings the bell at NYSE as stock rises

Specialty re/insurer SiriusPoint celebrated a 140% increase in its share price and an earnings turnaround by ringing the bell for the close of trading on Monday at the New York Stock Exchange.

Bermuda-based SiriusPoint reported first half earnings of $205 million compared to a loss of $278 million in the same period in 2022, while its share price improved from a three year low of $4.22 last July to $10 on Tuesday.

SiriusPoint chief executive officer Scott Egan said: “Today is a special day for SiriusPoint. Who would have thought 12 months ago we’d be standing here with our logo around the New York Stock Exchange, our share price up 140%, and what makes me proud is that it’s not by accident.

“It’s the result of blood, sweat and tears of not just everyone in this room, but by everyone of our colleagues around the world. And there’s still more to come.”

He added: “I’ve always said that the first half of the year shapes us, but the second half of the year defines us. And so it’s really important that we keep our eye on the ball, remembering the detail matters, and that we close this year out.

“This year is a platform for 2024 and 2025, and I, alongside you, want to make this one of the companies that operates at the highest levels and operates as the best in class in our markets. I don’t want to be average; I want people to talk about SiriusPoint as being the best at what we do.”

Egan said the employees present on the NYSE platform were there because they had been voted on by their peers.

He said: “The most special part of being here today is the values nominations that we ran and as you all know, our colleagues voted for people to be on the platform. And there’s no greater privilege than being voted for by your colleagues.

“I know some people are relatively new to the organisation and others have been here for a very long time. Every single one of you has put your DNA on SiriusPoint so a huge welcome today and a huge congratulations to you.”

The SiriusPoint colleagues joining  Egan were:

• Josh Altman, Compliance Manager – P&C Programs, New York
• Susan Hiscock, Executive Assistant, New York
• Lloyd Holder, Chief Information Security Officer, Bermuda
• Manish Munshi, Chief Data Officer, New York
• Barbro Skold, Manager Global UW Quality, Control & Support, VP, Senior UW, Sweden
• Harry Trelawny, International Head of Accident & Health, London
• Victoria Wang, AVP, SEC Reporting & Accounting Policy Manager, New York
• Tori Wholey, AVP, SEC Reporting & Accounting Policy Manager, Bermuda
• Marc Wyss, Managing Director Zurich Branch, Zurich
• Peggy Huang, Chief Investment Officer