Overview

* SiriusPoint ( SPNT ) Q2 core combined ratio improves 3.8 points to 89.5%

* Diluted EPS of $0.50, underlying EPS at $0.66, up 120% yr/yr

* Gross premiums written grow 10%, fifth consecutive quarter of double-digit growth

Outlook

* Company does not provide specific future financial guidance

Result Drivers

* UNDERWRITING STRATEGY - Improved core combined ratio driven by decreased catastrophe losses and favorable prior year loss reserve development

* PREMIUM GROWTH - Strong gross premiums written growth of 10% for Core business, marking fifth consecutive quarter of double-digit growth

* INSURANCE & SERVICES EXPANSION - Growth in Insurance & Services segment, including expansion in Surety and strategic organic growth initiatives

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net $59.20

Income mln

Q2 86.1%

Combined

Ratio

Q2 Core 89.5%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the reinsurance peer group is "buy"

* Wall Street's median 12-month price target for Siriuspoint Ltd ( SPNT ) is $25.00, about 21.7% above its August 1 closing price of $19.58

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)