Overview
SiriusPoint 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 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/Miss | Actual | Consensus Estimate |
Q3 Net Income | Beat | $85.20 mln | $42.10 mln (1 Analyst) |
Q3 Combined Ratio | 85.90% | ||
Q3 Core Combined Ratio | 89.10% |
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 is $22.50, about 18.9% above its October 29 closing price of $18.25
Press Release: ID:nGNE2PG6T4
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(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.)
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