SiriusPoint books Q2 growth on underwriting discipline
Bermuda-based specialty re/insurer SiriusPoint has reported a strong second quarter, posting double-digit premium growth and an improved combined ratio, as the group continues to make progress in its turnaround strategy.
The group’s core business delivered a combined ratio of 89.5% in the second quarter of 2025, a 3.8-point improvement on the prior year, supported by a lower attritional loss ratio and favourable prior-year development, particularly in the A&H segment. For the first half of the year, the core combined ratio stood at 92.4%, broadly stable year-on-year despite market volatility from aviation losses and early-year wildfire events.
Gross premiums written for the quarter reached $930.1 million, up 10.4% on Q2 2024, driven by growth across Insurance & Services and Reinsurance. The expansion of the surety line within other specialties, along with international programme business, particularly London MGAs, contributed to a 14.3% rise in Insurance & Services premiums.
Reinsurance premiums also rose by 4.9%, supported by higher volumes in credit lines.
SiriusPoint posted a net profit attributable to common shareholders of $59.2 million for the second quarter, and $116.8 million for the first half of 2025.
Scott Egan (pictured), chief executive officer, said: “Our second quarter results reflect the strength of our disciplined underwriting strategy. With each quarter, we demonstrate our ability to deliver consistent and stable earnings. Underlying return on equity for the quarter of 17.0%, and 15.4% for half year, both exceed our 12-15% ‘across the cycle’ target.
“Our Core combined ratio for the quarter was 89.5%, an improvement of 3.8 points versus last year. Our half year Core combined ratio was flat compared to last year despite increased volatility from aviation losses and first quarter wildfires. We continued to see strong top line growth, with gross premiums written up 10% year over year.
Our momentum continues, and this quarter is another purposeful step towards our goal of becoming a best-in-class underwriter.”
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