At a glance
Siriuspoint Ltd is worth $2.94B, about 7 times its fiscal 2025 earnings. Revenue grew 23.1% to $3.21B in fiscal 2025, with 14.3% kept as profit; over 5 years it has grown 29.2% a year. It pays no dividend; it spent $795.5M buying back its shares over FY2021–FY2025. The stock returned +39.7% over the past year with dividends reinvested and +21.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 51.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months after the low.
The business in plain English
SiriusPoint Ltd is a Bermuda-based specialty insurer and reinsurer. Reinsurance is insurance for insurance companies: it takes on part of their risk in exchange for a share of the premium. The company formed in February 2021, when Third Point Reinsurance merged with Sirius Group, an insurer founded in Stockholm. It has 1,099 employees in 10 countries and a Lloyd's of London syndicate.
It earns money in three ways. The first is underwriting. For the year ended December 31, 2025, its core business had a combined ratio of 91.7%. That means it spent 91.7 cents on claims and costs for every premium dollar earned, which is an underwriting profit. The second is fees. It controls two managing general agents (MGAs), firms that sell and manage policies for insurers. International Medical Group sells travel and international health cover, and Alta Signa writes financial and professional lines in Europe. These fees totaled $41.8 million. The third is investments. Net investment income was $274.8 million, mostly from high-quality bonds.
Insurance & Services writes policies for businesses and people. It accounted for 62.4% of 2025 gross written premium, which is premium sold before sharing any risk with other insurers. Accident and health was its largest line, at 27.0% of the company total. Reinsurance made up 37.1%, led by specialty lines and casualty. Property catastrophe reinsurance, which can swing results in heavy storm years, was 5.0%. Most premium comes in through MGA partners. The filing gives no regional split.
Price history
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SPNT +39.7% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $744.1M, down 0.5% from a year earlier, and net income was $68.6M (+8.5%).
- For fiscal 2025, revenue was $3.21B (+23.1% year over year; +29.2% a year from FY2020 to FY2025) with a 14.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +29.2% good |
|---|---|
| Return on equity (FY2025) | 18.6% good |
| Return on assets (FY2025) | 3.7% watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $889.7M | $143.5M | — |
| FY2021 | $2.18B | $58.1M | — |
| FY2022 | $2.11B | $-386.8M | — |
| FY2023 | $2.74B | $354.8M | — |
| FY2024 | $2.60B | $199.9M | — |
| FY2025 | $3.21B | $459.6M | — |
Valuation snapshot
| Market value | $2.94B |
|---|---|
| P/E ratio | 6.9 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Siriuspoint Ltd’s market value went from $1.32B at the end of 2021 to $2.94B on Oct 28, 2026, about 2.2 times as much; since the end of 2025 it is up 15%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.94B | +14.8% |
| 2025 | $2.56B | -3.6% |
| 2024 | $2.65B | +36.5% |
| 2023 | $1.94B | +103.2% |
| 2022 | $956.8M | -27.3% |
| 2021 | $1.32B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SPNT price data to Oct 28, 2026 | +15.4% | +39.7% | +38.0% | +21.9% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +15.4% |
| 2025 | +33.6% |
| 2024 | +41.3% |
| 2023 | +96.6% |
| 2022 | -27.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 45% over that stretch · deepest drop along the way 51.7%, back to its old high 8.3 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.9% | Mar 31, 2025 |
| Dimensional Fund Advisors LP | 6.5% | Mar 31, 2025 |
| Vanguard Portfolio Management | 5.83% | Mar 31, 2026 |
| DONALD SMITH & CO., INC. | 5.2% | Jun 30, 2026 |
| Wellington Management Group LLP | 3.7% | Sep 30, 2025 |
| Capital Research Global Investors | 0.6% | Mar 31, 2026 |
ETFs with the most weight in SPNT
| KBWP Invesco KBW Property & Casualty Insurance ETF | 2.47% |
| XSVM Invesco S&P SmallCap Value with Momentum ETF | 1.3% |
| BSVO EA Bridgeway Omni Small-Cap Value ETF | 0.94% |
| SVAL iShares US Small Cap Value Factor ETF | 0.66% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.46% |
| EES WisdomTree U.S. SmallCap Fund | 0.44% |
| ROSC Hartford Multifactor Small Cap ETF | 0.4% |
| SMDX Intech S&P Small-Mid Cap Diversified Alpha ETF | 0.37% |
What could go wrong
- Heavy reliance on outside underwriting agents. Most premium comes through MGAs, outside agencies that write policies on SiriusPoint's behalf. If its oversight slips, the 10-K warns of unintended concentrations of risk or significant underwriting losses.
- Leadership and ownership changes. Filings in March 2026 reported board or executive changes and a change in control. The 10-K warns that leadership transitions and concentrated ownership could hurt the business and limit other shareholders' say.
- Hurricanes, wildfires and other catastrophes. Property catastrophe reinsurance is most exposed, but aviation, credit and travel insurance can also take hits. Climate change may make disasters more frequent, and loss estimates from risk models can prove significantly wrong.
- Claim reserves could prove too small. Insurers set aside money, called reserves, for claims paid years later. If casualty claims, inflation or new legal rulings push costs above those estimates, SiriusPoint must add to reserves, which cuts profits.
- A ratings downgrade could cost business. Its operating companies held A- financial strength ratings from AM Best, Fitch and S&P and A3 from Moody's as of February 24, 2026. Clients rely on these, so a downgrade could cost business.
- Insurance prices move in cycles. When too much capital chases business, premium rates fall. SiriusPoint then faces a choice between writing less and accepting thinner margins, so results can swing from year to year.
Recent events
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Change in control
- Executive or board change
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Other company announcement
- Other company announcement
For income and retirement investors
SiriusPoint pays no dividend, and its 10-K says it does not intend to pay one. The yield was 0% as of October 28, 2026. For an income investor, that means returns depend entirely on the share price, and any regular cash would have to come from cashing in shares. The company has instead returned money through share repurchases (buybacks): $795.5 million from 2021 through 2025, including $490.8 million in 2025. The share count fell 28.3%, from about 162.1 million on August 3, 2021 to 116.2 million on July 24, 2026.
The shares can swing hard. In the 2022 bear market they fell 51.7% from February 2 to August 2, 2022, then climbed back to their earlier peak by April 12, 2023, about eight months later. No comparable figures are available for the 2008 crisis or the 2020 crash. Single stocks carry more risk than diversified funds.
Questions investors ask
How does SiriusPoint make money?
SiriusPoint makes money by underwriting insurance and reinsurance, earning fees and investing. In 2025, its ongoing business earned $214.3 million from underwriting, with a combined ratio (claims plus expenses as a share of premiums) of 91.7%. Fees from IMG and Alta Signa, two agencies it controls, added $41.8 million. Investments, mostly high-quality bonds, produced $271.9 million. Total revenue was $3.21 billion, and net income of $459.6 million included a $222.4 million gain from the sale of the Armada agency.
Does SiriusPoint pay a dividend?
No. SiriusPoint paid no common dividends from 2020 through 2025, and its 10-K says it does not intend to pay them. Its dividend yield was 0% as of October 28, 2026. Instead, it has repurchased shares, spending $795.5 million from 2021 through 2025. The share count fell 28.3% between August 2021 and July 2026. Shareholder returns therefore depend on the share price alone.
Is SiriusPoint profitable?
Yes, based on its latest reported results. SiriusPoint earned $459.6 million in 2025, a 14.3% net margin and an 18.6% return on equity (profit as a share of shareholders' money). The company targets a 12–15% return on equity across the pricing cycle. In the quarter ended June 30, 2026, it earned $68.6 million, up 8.5% from a year earlier. Profits swing, though: it lost $386.8 million in 2022, and 2025 included a one-time $222.4 million gain from the Armada sale.
What is SiriusPoint's P/E ratio?
SiriusPoint's price-to-earnings (P/E) ratio was about 6.9 as of October 28, 2026, based on 2025 earnings of $3.64 per diluted share. The P/E compares the share price with a year's profit per share, so a low figure means investors pay less for each dollar of earnings. Part of that 2025 profit came from the $222.4 million Armada gain, which is unlikely to repeat, so the ratio may look lower than ongoing earnings justify. Its market value was about $2.94 billion on that date.
How has SiriusPoint stock performed?
SiriusPoint shares gained 39.7% in the year to October 28, 2026, and averaged 21.9% a year over five years. Calendar-year returns were a 27.4% loss in 2022, then gains of 96.6% in 2023, 41.3% in 2024 and 33.6% in 2025, with 2026 up 15.4% year to date. The ride has been rough at times: the steepest peak-to-low drop over the past 5.4 years was 59.2%. The company pays no dividend, so these are price-only returns.