SiriusPoint Operating Earnings Reach $0.88 per Share, Beating Third-Quarter Estimates
Key Facts
SiriusPoint reported operating earnings of $0.88 per share in the third quarter of 2026, beating the average estimate of five analysts compiled by S&P Capital IQ of $0.64, according to The Insurer. The figure rose from $0.74 per share in the same period a year earlier. The beat came as the company recorded growth in net premiums written, with performance varying between insurance and reinsurance. Alongside the results, SiriusPoint agreed with RiverStone to transfer a portfolio of legacy reinsurance liabilities. The company links the deal to its aims of simplifying its business, strengthening capital and closing out the legacy portfolio.
Net premiums written totaled $678.7 million in the third quarter of 2026, according to figures reported by The Insurer. This included $403.5 million for the insurance and services segment and $275.2 million for reinsurance. In the third quarter of 2025, the two segments recorded $396.8 million and $268.1 million, respectively. The comparison shows an increase in both segments, with premiums in insurance and services rising more than reinsurance premiums. This puts net premium growth alongside the earnings beat, with each segment figure tied to a different business activity within the company.
The company attributed improved underwriting income to lower attritional loss ratios and higher favorable development of prior-year reserves, according to The Insurer. This development totaled $18.3 million in the third quarter of 2026, compared with $9.1 million in the same period of 2025. The company said higher expense ratios offset part of the improvement. Underwriting results were therefore supported by more than premium growth; a review of prior reserves also contributed during the quarter. The year-on-year comparison shows favorable reserve development was greater this quarter than a year earlier.
On the investment income side, net income was $65.9 million in the third quarter, down $0.6 million year on year, according to The Insurer. The decline coincided with operating earnings per share rising from $0.74 in the same period of 2025 to $0.88 in the current quarter. The result also exceeded the average analyst estimate of $0.64 per share, based on estimates from five analysts. Together, the figures show operating earnings growth and a modest decline in investment income compared with the previous year. The figures remain split between contributions from insurance and reinsurance activity on one hand, and investment portfolio income on the other.
The portfolio transfer is a parallel focus alongside the quarterly results. RiverStone said in its announcement dated November 6, 2026, that it would assume a portfolio of legacy reinsurance liabilities with net liabilities of about $400 million. The deal covers most of SiriusPoint’s remaining reserves for run-off business, according to The Insurer. Chief Executive Scott Egan said the agreement represents a step toward simplifying the business, strengthening capital and closing out the legacy portfolio. The transfer of liabilities means the deal covers remaining legacy business, while the company continues to report results for its insurance and services and reinsurance segments in the current quarter.
The portfolio transfer remains subject to regulatory approval. The Insurer said approval is expected in the fourth quarter of 2026 or the first quarter of 2027, and completion of the transfer is expected to release more than $200 million of capital. Egan linked the deal to strengthening capital, while realization of the expected amount depends on completing regulatory approvals. RiverStone announced the completion of the deal on November 6, taking on the legacy liabilities cited in its announcement. SPNT shares closed at $26.27 on November 5, 2026, according to EL7 data.
Third-quarter 2025 results provide context for comparison across the company’s business cycle. In that period, SiriusPoint reported operating earnings of $0.72 per share, up 41% year on year, and an operating return on equity of 17.9%, according to results filed with the U.S. Securities and Exchange Commission. The return was above the company’s through-cycle target range of 12% to 15%. In the third quarter of 2026, operating earnings per share came in at $0.88, compared with $0.74 in the corresponding quarter, according to The Insurer. This context places the current-quarter result in a year-on-year comparison, alongside the transfer of liabilities awaiting regulatory approval.