Overview

* SiriusPoint ( SPNT ) Q3 net income of $86.8 mln beats analyst expectations, per LSEG data

* Company reports Q3 diluted EPS of $0.73, a 41% increase from prior year

* Gross premiums written for Core business grow 26% in Q3

Outlook

* SiriusPoint ( SPNT ) expects sale of MGA investments to add $1.75 per share to book value

* Company maintains strategic focus on growth and underwriting performance

Result Drivers

* UNDERWRITING PERFORMANCE - Co attributes 11% increase in underwriting income to absence of catastrophe losses in Q3

* PREMIUM GROWTH - Gross premiums written increased 26% in Q3, driven by Insurance & Services segment and A&H contributions

* MGA DISPOSALS - Co expects sale of ArmadaCare and Arcadian to unlock significant shareholder value

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net Beat $85.20 $42.10

Income mln mln (1

Analyst)

Q3 85.90%

Combined

Ratio

Q3 Core 89.10%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "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 $22.50, about 18.9% above its October 29 closing price of $18.25

Press Release:

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(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.)