Fitch Ratings improved outlook on SiriusPoint due to positive underwriting performance

From GlobeNewswire: 2025-03-05 16:36:33

Fitch Ratings has affirmed SiriusPoint Ltd.’s ratings, including its ‘BBB’ Long-Term Issuer Default Rating, with a Positive Outlook. The Company’s improved underwriting performance in 2024 and 2023 led to the positive revision. Key drivers were the repurchase of shares, strong underwriting results, and a net income of $184m in 2024. SiriusPoint CEO Scott Egan highlighted the company’s progress and successful restructuring efforts. With over $2.6 billion in total capital, SiriusPoint has a financial strength rating of A- from AM Best, S&P, and Fitch, and A3 from Moody’s.

Overall, Fitch Ratings has noted significant improvements in SiriusPoint Ltd.’s underwriting performance, resulting in a Positive Outlook. With key drivers such as strong financial results in 2024, including a net income of $184m, the company is poised for growth. SiriusPoint, a global underwriter of insurance and reinsurance, operates with a financial strength rating of A- from AM Best, S&P, and Fitch, and A3 from Moody’s. CEO Scott Egan expressed optimism for the company’s future outcomes and continued momentum.



Read more at GlobeNewswire: Fitch Ratings Revises Outlook on SiriusPoint to Positive