10-Q 1 spnt-20240630.htm 10-Q spnt-20240630
000157601812/312024Q2falsehttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent250.0306.3xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purespnt:segmentspnt:securityspnt:periodspnt:director00015760182024-01-012024-06-300001576018us-gaap:CommonStockMember2024-01-012024-06-300001576018spnt:A800ResettableFixedRatePreferenceSharesSeriesBMember2024-01-012024-06-3000015760182024-07-2600015760182024-06-3000015760182023-12-310001576018us-gaap:SeriesBPreferredStockMember2024-06-300001576018us-gaap:SeriesBPreferredStockMember2023-12-3100015760182024-04-012024-06-3000015760182023-04-012023-06-3000015760182023-01-012023-06-300001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2024-03-310001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2023-03-310001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2023-12-310001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2022-12-310001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2024-04-012024-06-300001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2023-04-012023-06-300001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2024-01-012024-06-300001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2023-01-012023-06-300001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2024-06-300001576018us-gaap:PreferredStockMemberus-gaap:SeriesBPreferredStockMember2023-06-300001576018us-gaap:CommonStockMember2024-03-310001576018us-gaap:CommonStockMember2023-03-310001576018us-gaap:CommonStockMember2023-12-310001576018us-gaap:CommonStockMember2022-12-310001576018us-gaap:CommonStockMember2024-04-012024-06-300001576018us-gaap:CommonStockMember2023-04-012023-06-300001576018us-gaap:CommonStockMember2024-01-012024-06-300001576018us-gaap:CommonStockMember2023-01-012023-06-300001576018us-gaap:CommonStockMember2024-06-300001576018us-gaap:CommonStockMember2023-06-300001576018us-gaap:AdditionalPaidInCapitalMember2024-03-310001576018us-gaap:AdditionalPaidInCapitalMember2023-03-310001576018us-gaap:AdditionalPaidInCapitalMember2023-12-310001576018us-gaap:AdditionalPaidInCapitalMember2022-12-310001576018us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300001576018us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300001576018us-gaap:AdditionalPaidInCapitalMember2024-01-012024-06-300001576018us-gaap:AdditionalPaidInCapitalMember2023-01-012023-06-300001576018us-gaap:AdditionalPaidInCapitalMember2024-06-300001576018us-gaap:AdditionalPaidInCapitalMember2023-06-300001576018us-gaap:RetainedEarningsMember2024-03-310001576018us-gaap:RetainedEarningsMember2023-03-310001576018us-gaap:RetainedEarningsMember2023-12-310001576018us-gaap:RetainedEarningsMember2022-12-310001576018us-gaap:RetainedEarningsMember2024-04-012024-06-300001576018us-gaap:RetainedEarningsMember2023-04-012023-06-300001576018us-gaap:RetainedEarningsMember2024-01-012024-06-300001576018us-gaap:RetainedEarningsMember2023-01-012023-06-300001576018us-gaap:RetainedEarningsMember2024-06-300001576018us-gaap:RetainedEarningsMember2023-06-300001576018us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310001576018us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310001576018us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001576018us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001576018us-gaap:AccumulatedTranslationAdjustmentMember2024-03-310001576018us-gaap:AccumulatedTranslationAdjustmentMember2023-03-310001576018us-gaap:AccumulatedTranslationAdjustmentMember2023-12-310001576018us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310001576018us-gaap:AccumulatedTranslationAdjustmentMember2024-04-012024-06-300001576018us-gaap:AccumulatedTranslationAdjustmentMember2023-04-012023-06-300001576018us-gaap:AccumulatedTranslationAdjustmentMember2024-01-012024-06-300001576018us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-06-300001576018us-gaap:AccumulatedTranslationAdjustmentMember2024-06-300001576018us-gaap:AccumulatedTranslationAdjustmentMember2023-06-300001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-03-310001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-04-012024-06-300001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-04-012023-06-300001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-06-300001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-06-300001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-06-300001576018us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-06-300001576018us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001576018us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001576018us-gaap:ParentMember2024-06-300001576018us-gaap:ParentMember2023-06-300001576018us-gaap:NoncontrollingInterestMember2024-06-300001576018us-gaap:NoncontrollingInterestMember2023-06-3000015760182023-06-3000015760182022-12-3100015760182024-04-300001576018srt:MinimumMember2024-04-300001576018srt:MaximumMember2024-04-3000015760182022-09-300001576018spnt:PallasReinsuranceCompanyLtdMember2024-06-3000015760182023-03-020001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMember2024-04-012024-06-300001576018us-gaap:OperatingSegmentsMemberspnt:InsuranceAndServicesSegmentMember2024-04-012024-06-300001576018us-gaap:OperatingSegmentsMember2024-04-012024-06-300001576018us-gaap:IntersegmentEliminationMember2024-04-012024-06-300001576018us-gaap:CorporateNonSegmentMember2024-04-012024-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMemberus-gaap:ServiceMember2024-04-012024-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMemberspnt:InsuranceAndServicesSegmentMember2024-04-012024-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMember2024-04-012024-06-300001576018us-gaap:ServiceMemberus-gaap:IntersegmentEliminationMember2024-04-012024-06-300001576018us-gaap:MaterialReconcilingItemsMemberus-gaap:ServiceMember2024-04-012024-06-300001576018us-gaap:MaterialReconcilingItemsMember2024-04-012024-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMember2023-04-012023-06-300001576018us-gaap:OperatingSegmentsMemberspnt:InsuranceAndServicesSegmentMember2023-04-012023-06-300001576018us-gaap:OperatingSegmentsMember2023-04-012023-06-300001576018us-gaap:IntersegmentEliminationMember2023-04-012023-06-300001576018us-gaap:CorporateNonSegmentMember2023-04-012023-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMemberus-gaap:ServiceMember2023-04-012023-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMemberspnt:InsuranceAndServicesSegmentMember2023-04-012023-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMember2023-04-012023-06-300001576018us-gaap:ServiceMemberus-gaap:IntersegmentEliminationMember2023-04-012023-06-300001576018us-gaap:MaterialReconcilingItemsMemberus-gaap:ServiceMember2023-04-012023-06-300001576018us-gaap:MaterialReconcilingItemsMember2023-04-012023-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMember2024-01-012024-06-300001576018us-gaap:OperatingSegmentsMemberspnt:InsuranceAndServicesSegmentMember2024-01-012024-06-300001576018us-gaap:OperatingSegmentsMember2024-01-012024-06-300001576018us-gaap:IntersegmentEliminationMember2024-01-012024-06-300001576018us-gaap:CorporateNonSegmentMember2024-01-012024-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMemberus-gaap:ServiceMember2024-01-012024-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMemberspnt:InsuranceAndServicesSegmentMember2024-01-012024-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMember2024-01-012024-06-300001576018us-gaap:ServiceMemberus-gaap:IntersegmentEliminationMember2024-01-012024-06-300001576018us-gaap:MaterialReconcilingItemsMemberus-gaap:ServiceMember2024-01-012024-06-300001576018us-gaap:MaterialReconcilingItemsMember2024-01-012024-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMember2023-01-012023-06-300001576018us-gaap:OperatingSegmentsMemberspnt:InsuranceAndServicesSegmentMember2023-01-012023-06-300001576018us-gaap:OperatingSegmentsMember2023-01-012023-06-300001576018us-gaap:IntersegmentEliminationMember2023-01-012023-06-300001576018us-gaap:CorporateNonSegmentMember2023-01-012023-06-300001576018us-gaap:OperatingSegmentsMemberspnt:ReinsuranceSegmentMemberus-gaap:ServiceMember2023-01-012023-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMemberspnt:InsuranceAndServicesSegmentMember2023-01-012023-06-300001576018us-gaap:OperatingSegmentsMemberus-gaap:ServiceMember2023-01-012023-06-300001576018us-gaap:ServiceMemberus-gaap:IntersegmentEliminationMember2023-01-012023-06-300001576018us-gaap:MaterialReconcilingItemsMemberus-gaap:ServiceMember2023-01-012023-06-300001576018us-gaap:MaterialReconcilingItemsMember2023-01-012023-06-300001576018us-gaap:FinancialStandbyLetterOfCreditMember2024-06-300001576018us-gaap:FinancialStandbyLetterOfCreditMember2023-12-310001576018spnt:ReinsuranceContractsMember2024-06-300001576018spnt:ReinsuranceContractsMember2023-12-310001576018spnt:ManagingGeneralUnderwritersMember2024-06-300001576018spnt:ManagingGeneralUnderwritersMember2023-12-310001576018us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMember2024-06-300001576018us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-06-300001576018us-gaap:FairValueInputsLevel12And3Memberus-gaap:AssetBackedSecuritiesMember2024-06-300001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-06-300001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-06-300001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel12And3Member2024-06-300001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-06-300001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-06-300001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel12And3Member2024-06-300001576018us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMember2024-06-300001576018us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-06-300001576018us-gaap:FairValueInputsLevel12And3Memberus-gaap:CorporateDebtSecuritiesMember2024-06-300001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel1Member2024-06-300001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Member2024-06-300001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel12And3Member2024-06-300001576018us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300001576018us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300001576018us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300001576018us-gaap:FairValueInputsLevel12And3Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300001576018us-gaap:FairValueInputsLevel1Member2024-06-300001576018us-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:FairValueInputsLevel3Member2024-06-300001576018us-gaap:FairValueInputsLevel12And3Member2024-06-300001576018us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-06-300001576018us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMember2023-12-310001576018us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310001576018us-gaap:FairValueInputsLevel12And3Memberus-gaap:AssetBackedSecuritiesMember2023-12-310001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310001576018us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel12And3Member2023-12-310001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310001576018us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel12And3Member2023-12-310001576018us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMember2023-12-310001576018us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310001576018us-gaap:FairValueInputsLevel12And3Memberus-gaap:CorporateDebtSecuritiesMember2023-12-310001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel1Member2023-12-310001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel3Member2023-12-310001576018us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel12And3Member2023-12-310001576018us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001576018us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001576018us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001576018us-gaap:FairValueInputsLevel12And3Memberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001576018us-gaap:FairValueInputsLevel1Member2023-12-310001576018us-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:FairValueInputsLevel3Member2023-12-310001576018us-gaap:FairValueInputsLevel12And3Member2023-12-310001576018us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-12-310001576018us-gaap:OtherLongTermInvestmentsMember2024-03-310001576018us-gaap:OtherLongTermInvestmentsMember2024-04-012024-06-300001576018us-gaap:OtherLongTermInvestmentsMember2024-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2024-03-310001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2024-04-012024-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2024-06-3000015760182024-03-310001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-03-310001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-04-012024-06-300001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-06-300001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-03-310001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-04-012024-06-300001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-12-310001576018us-gaap:OtherLongTermInvestmentsMember2024-01-012024-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-12-310001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2024-01-012024-06-300001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-12-310001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-01-012024-06-300001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-12-310001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-01-012024-06-300001576018us-gaap:PreferredStockMember2023-03-310001576018us-gaap:PreferredStockMember2023-04-012023-06-300001576018us-gaap:PreferredStockMember2023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-03-310001576018us-gaap:OtherLongTermInvestmentsMember2023-04-012023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-03-310001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-04-012023-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-06-3000015760182023-03-310001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-03-310001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-04-012023-06-300001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-06-300001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-03-310001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-04-012023-06-300001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-06-300001576018us-gaap:PreferredStockMember2022-12-310001576018us-gaap:PreferredStockMember2023-01-012023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2022-12-310001576018us-gaap:OtherLongTermInvestmentsMember2023-01-012023-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2022-12-310001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-01-012023-06-300001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2022-12-310001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-01-012023-06-300001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2022-12-310001576018us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-01-012023-06-300001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SubordinatedDebtMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:SubordinatedDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SubordinatedDebtMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:SubordinatedDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberspnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:CarryingReportedAmountFairValueDisclosureMemberspnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberspnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:CarryingReportedAmountFairValueDisclosureMemberspnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Memberspnt:SeniorUnsecuredNotesDueFebruary2025Member2024-06-300001576018us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Memberspnt:SeniorUnsecuredNotesDueFebruary2025Member2024-06-300001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Memberspnt:SeniorUnsecuredNotesDueFebruary2025Member2023-12-310001576018us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel2Memberspnt:SeniorUnsecuredNotesDueFebruary2025Member2023-12-310001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SeriesBPreferredStockMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeriesBPreferredStockMemberus-gaap:FairValueInputsLevel2Member2024-06-300001576018us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SeriesBPreferredStockMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SeriesBPreferredStockMemberus-gaap:FairValueInputsLevel2Member2023-12-310001576018us-gaap:AssetBackedSecuritiesMember2024-06-300001576018us-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300001576018us-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300001576018us-gaap:CorporateDebtSecuritiesMember2024-06-300001576018us-gaap:USTreasuryAndGovernmentMember2024-06-300001576018us-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300001576018us-gaap:AssetBackedSecuritiesMember2023-12-310001576018us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001576018us-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001576018us-gaap:CorporateDebtSecuritiesMember2023-12-310001576018us-gaap:USTreasuryAndGovernmentMember2023-12-310001576018us-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-3100015760182023-01-012023-12-310001576018spnt:MortgageBackedAndAssetBackedSecuritiesMember2024-06-300001576018spnt:MortgageBackedAndAssetBackedSecuritiesMember2023-12-310001576018spnt:AAARatingMember2024-06-300001576018spnt:AAARatingMember2023-12-310001576018spnt:AARatingMember2024-06-300001576018spnt:AARatingMember2023-12-310001576018spnt:ARatingMember2024-06-300001576018spnt:ARatingMember2023-12-310001576018spnt:BBBRatingMember2024-06-300001576018spnt:BBBRatingMember2023-12-310001576018spnt:OtherRatingMember2024-06-300001576018spnt:OtherRatingMember2023-12-310001576018us-gaap:SubprimeMember2024-06-300001576018us-gaap:SubprimeMemberspnt:AAARatingMember2024-06-300001576018us-gaap:SubprimeMemberspnt:AARatingMember2024-06-300001576018us-gaap:SubprimeMemberspnt:ARatingMember2024-06-300001576018us-gaap:SubprimeMemberspnt:BBBRatingMember2024-06-300001576018us-gaap:SubprimeMemberspnt:UnratedMember2024-06-300001576018us-gaap:SubprimeMember2023-12-310001576018us-gaap:SubprimeMemberspnt:AAARatingMember2023-12-310001576018us-gaap:SubprimeMemberspnt:AARatingMember2023-12-310001576018us-gaap:SubprimeMemberspnt:ARatingMember2023-12-310001576018us-gaap:SubprimeMemberspnt:BBBRatingMember2023-12-310001576018us-gaap:SubprimeMemberspnt:UnratedMember2023-12-310001576018spnt:HedgeFundsAndPrivateEquityFundsMember2024-06-300001576018spnt:HedgeFundsAndPrivateEquityFundsMember2023-12-310001576018spnt:StrategicInvestmentsMember2024-06-300001576018spnt:StrategicInvestmentsMember2023-12-310001576018us-gaap:OtherInvestmentsMember2024-06-300001576018us-gaap:OtherInvestmentsMember2023-12-310001576018us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberspnt:HedgeFundsAndPrivateEquityFundsMember2024-06-300001576018us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberspnt:HedgeFundsAndPrivateEquityFundsMember2023-12-310001576018spnt:HedgeFundsAndPrivateEquityFundsMemberus-gaap:FairValueInputsLevel3Member2024-06-300001576018spnt:HedgeFundsAndPrivateEquityFundsMemberus-gaap:FairValueInputsLevel3Member2023-12-310001576018spnt:StrategicInvestmentsAndLimitedLiabilityCompaniesAndPrivateEquitySecuritiesMember2024-06-300001576018spnt:StrategicInvestmentsAndLimitedLiabilityCompaniesAndPrivateEquitySecuritiesMember2023-12-310001576018spnt:EquityMethodEligibleUnconsolidatedEntitiesMember2024-06-300001576018spnt:EquityMethodEligibleUnconsolidatedEntitiesMember2023-12-310001576018us-gaap:EquityMethodInvestmentsMember2024-06-300001576018us-gaap:EquityMethodInvestmentsMember2023-12-310001576018spnt:OtherUnconsolidatedInvestmentsAtFairValueMember2024-06-300001576018spnt:OtherUnconsolidatedInvestmentsAtFairValueMember2023-12-310001576018spnt:OtherUnconsolidatedInvestmentsAtCostMember2024-06-300001576018spnt:OtherUnconsolidatedInvestmentsAtCostMember2023-12-310001576018us-gaap:RelatedPartyMemberspnt:RelatedPartyFundThirdPointEnhancedLPMember2024-06-300001576018us-gaap:RelatedPartyMemberspnt:RelatedPartyFundThirdPointEnhancedLPMember2023-12-310001576018us-gaap:RelatedPartyMemberspnt:RelatedPartyFundThirdPointVentureOffshoreFundILPMember2024-06-300001576018us-gaap:RelatedPartyMemberspnt:RelatedPartyFundThirdPointVentureOffshoreFundILPMember2023-12-310001576018spnt:RelatedPartyFundThirdPointVentureOffshoreFundIILPMemberus-gaap:RelatedPartyMember2024-06-300001576018spnt:RelatedPartyFundThirdPointVentureOffshoreFundIILPMemberus-gaap:RelatedPartyMember2023-12-310001576018us-gaap:RelatedPartyMember2024-06-300001576018us-gaap:RelatedPartyMember2023-12-310001576018spnt:RelatedPartyFundThirdPointEnhancedLPMember2024-06-300001576018spnt:VariableInterestEntityNotPrimaryBeneficiaryTPEnhancedFundMemberspnt:ThirdPointEnhancedLPMember2024-01-012024-06-300001576018spnt:RelatedPartyFundThirdPointVentureOffshoreFundILPMember2024-06-300001576018spnt:RelatedPartyFundThirdPointVentureOffshoreFundILPMember2024-01-012024-06-300001576018spnt:RelatedPartyFundThirdPointVentureOffshoreFundIILPMember2024-06-300001576018spnt:RelatedPartyFundThirdPointVentureOffshoreFundIILPMember2024-01-012024-06-300001576018spnt:DebtSecuritiesAvailableForSaleMember2024-04-012024-06-300001576018spnt:DebtSecuritiesAvailableForSaleMember2023-04-012023-06-300001576018spnt:DebtSecuritiesAvailableForSaleMember2024-01-012024-06-300001576018spnt:DebtSecuritiesAvailableForSaleMember2023-01-012023-06-300001576018spnt:DebtSecuritiesTradingMember2024-04-012024-06-300001576018spnt:DebtSecuritiesTradingMember2023-04-012023-06-300001576018spnt:DebtSecuritiesTradingMember2024-01-012024-06-300001576018spnt:DebtSecuritiesTradingMember2023-01-012023-06-300001576018spnt:OtherShortTermInvestmentsMember2024-04-012024-06-300001576018spnt:OtherShortTermInvestmentsMember2023-04-012023-06-300001576018spnt:OtherShortTermInvestmentsMember2024-01-012024-06-300001576018spnt:OtherShortTermInvestmentsMember2023-01-012023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2024-04-012024-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-04-012023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2024-01-012024-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-01-012023-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2024-04-012024-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-04-012023-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2024-01-012024-06-300001576018us-gaap:DerivativeFinancialInstrumentsAssetsMember2023-01-012023-06-300001576018spnt:RelatedPartyInvestmentFundsMember2024-04-012024-06-300001576018spnt:RelatedPartyInvestmentFundsMember2023-04-012023-06-300001576018spnt:RelatedPartyInvestmentFundsMember2024-01-012024-06-300001576018spnt:RelatedPartyInvestmentFundsMember2023-01-012023-06-300001576018spnt:InvestmentsExcludingCashAndCashEquivalentsMember2024-04-012024-06-300001576018spnt:InvestmentsExcludingCashAndCashEquivalentsMember2023-04-012023-06-300001576018spnt:InvestmentsExcludingCashAndCashEquivalentsMember2024-01-012024-06-300001576018spnt:InvestmentsExcludingCashAndCashEquivalentsMember2023-01-012023-06-300001576018us-gaap:CashAndCashEquivalentsMember2024-04-012024-06-300001576018us-gaap:CashAndCashEquivalentsMember2023-04-012023-06-300001576018us-gaap:CashAndCashEquivalentsMember2024-01-012024-06-300001576018us-gaap:CashAndCashEquivalentsMember2023-01-012023-06-300001576018spnt:HedgeFundsAndPrivateEquityFundsMember2024-04-012024-06-300001576018spnt:HedgeFundsAndPrivateEquityFundsMember2023-04-012023-06-300001576018spnt:HedgeFundsAndPrivateEquityFundsMember2024-01-012024-06-300001576018spnt:HedgeFundsAndPrivateEquityFundsMember2023-01-012023-06-300001576018spnt:StrategicInvestmentsMember2024-04-012024-06-300001576018spnt:StrategicInvestmentsMember2023-04-012023-06-300001576018spnt:StrategicInvestmentsMember2024-01-012024-06-300001576018spnt:StrategicInvestmentsMember2023-01-012023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2024-04-012024-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-04-012023-06-300001576018us-gaap:OtherLongTermInvestmentsMember2024-01-012024-06-300001576018us-gaap:OtherLongTermInvestmentsMember2023-01-012023-06-300001576018us-gaap:OtherInvestmentsMember2024-04-012024-06-300001576018us-gaap:OtherInvestmentsMember2023-04-012023-06-300001576018us-gaap:OtherInvestmentsMember2024-01-012024-06-300001576018us-gaap:OtherInvestmentsMember2023-01-012023-06-300001576018us-gaap:FairValueInputsLevel3Member2024-04-012024-06-300001576018us-gaap:FairValueInputsLevel3Member2023-04-012023-06-300001576018us-gaap:FairValueInputsLevel3Member2024-01-012024-06-300001576018us-gaap:FairValueInputsLevel3Member2023-01-012023-06-300001576018us-gaap:ForeignExchangeContractMember2024-06-300001576018us-gaap:ForeignExchangeContractMember2023-12-310001576018us-gaap:CreditRiskContractMember2024-06-300001576018us-gaap:CreditRiskContractMember2023-12-310001576018us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2024-06-300001576018us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2023-12-310001576018spnt:WeatherDerivativeMemberus-gaap:NondesignatedMember2024-06-300001576018spnt:WeatherDerivativeMemberus-gaap:NondesignatedMember2023-12-310001576018us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-06-300001576018us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-12-310001576018us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMember2024-06-300001576018us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMember2023-12-310001576018us-gaap:NondesignatedMemberspnt:ReinsuranceContractMember2024-06-300001576018us-gaap:NondesignatedMemberspnt:ReinsuranceContractMember2023-12-310001576018us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2024-04-012024-06-300001576018us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2023-04-012023-06-300001576018us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2024-01-012024-06-300001576018us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2023-01-012023-06-300001576018spnt:WeatherDerivativeMemberus-gaap:NondesignatedMember2024-04-012024-06-300001576018spnt:WeatherDerivativeMemberus-gaap:NondesignatedMember2023-04-012023-06-300001576018spnt:WeatherDerivativeMemberus-gaap:NondesignatedMember2024-01-012024-06-300001576018spnt:WeatherDerivativeMemberus-gaap:NondesignatedMember2023-01-012023-06-300001576018us-gaap:NondesignatedMemberus-gaap:CurrencySwapMember2024-04-012024-06-300001576018us-gaap:NondesignatedMemberus-gaap:CurrencySwapMember2023-04-012023-06-300001576018us-gaap:NondesignatedMemberus-gaap:CurrencySwapMember2024-01-012024-06-300001576018us-gaap:NondesignatedMemberus-gaap:CurrencySwapMember2023-01-012023-06-300001576018us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-04-012024-06-300001576018us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-04-012023-06-300001576018us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-01-012024-06-300001576018us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-01-012023-06-300001576018us-gaap:NondesignatedMemberspnt:ReinsuranceContractMember2024-04-012024-06-300001576018us-gaap:NondesignatedMemberspnt:ReinsuranceContractMember2023-04-012023-06-300001576018us-gaap:NondesignatedMemberspnt:ReinsuranceContractMember2024-01-012024-06-300001576018us-gaap:NondesignatedMemberspnt:ReinsuranceContractMember2023-01-012023-06-300001576018spnt:VariableInterestEntityPrimaryBeneficiaryAlsteadReInsuranceCompanyMember2024-06-300001576018spnt:VariableInterestEntityPrimaryBeneficiaryAlsteadReInsuranceCompanyMember2023-12-310001576018spnt:VariableInterestEntityPrimaryBeneficiaryArcadianRiskCapitalLtdMember2024-06-300001576018spnt:VariableInterestEntityPrimaryBeneficiaryArcadianRiskCapitalLtdMember2024-01-012024-06-300001576018spnt:VariableInterestEntityPrimaryBeneficiaryBanyanRiskLtdMember2022-01-012022-12-310001576018spnt:VariableInterestEntityPrimaryBeneficiaryBanyanRiskLtdMember2023-01-012023-01-310001576018us-gaap:ConsolidatedEntityExcludingVieMember2024-01-012024-06-300001576018us-gaap:ConsolidatedEntityExcludingVieMember2024-06-300001576018us-gaap:ConsolidatedEntityExcludingVieMember2023-12-310001576018spnt:VariableInterestEntityNotPrimaryBeneficiaryExcludingInvestmentsInRelatedPartyInvestmentFundsMemberus-gaap:OtherLongTermInvestmentsMember2024-06-300001576018spnt:VariableInterestEntityNotPrimaryBeneficiaryExcludingInvestmentsInRelatedPartyInvestmentFundsMemberus-gaap:OtherLongTermInvestmentsMember2023-12-310001576018spnt:ThirdPointAdvisorsLLCMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberspnt:ThirdPointEnhancedLPMember2024-01-012024-06-300001576018spnt:AMBestOrStandardAndPoorsMemberus-gaap:CreditConcentrationRiskMemberspnt:AssetsWithinScopeOfCreditLossesMember2024-01-012024-06-300001576018spnt:AMBestOrStandardAndPoorsAOrBetterRatingMemberspnt:AMBestOrStandardAndPoorsMemberus-gaap:CreditConcentrationRiskMemberspnt:AssetsWithinScopeOfCreditLossesMember2024-01-012024-06-300001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:SeniorNotesMember2024-06-300001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:SeniorNotesMember2023-12-310001576018us-gaap:SubordinatedDebtMember2024-06-300001576018us-gaap:SubordinatedDebtMember2023-12-310001576018spnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMember2024-06-300001576018spnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMember2023-12-310001576018us-gaap:SeniorNotesMemberspnt:SeniorUnsecuredNotesDueFebruary2025Member2024-06-300001576018us-gaap:SeniorNotesMemberspnt:SeniorUnsecuredNotesDueFebruary2025Member2023-12-310001576018spnt:SeniorUnsecuredNotesDue2029Memberus-gaap:SeniorNotesMember2024-04-300001576018spnt:SeniorUnsecuredNotesDueNovember2026Memberus-gaap:SeniorNotesMember2024-04-300001576018us-gaap:SeniorNotesMemberspnt:SeniorUnsecuredNotesDueFebruary2025Member2024-04-300001576018us-gaap:StandbyLettersOfCreditMemberspnt:CommittedSecuredLetterOfCreditFacilityMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberus-gaap:CashAndCashEquivalentsMemberspnt:CommittedSecuredLetterOfCreditFacilityMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberspnt:CommittedSecuredLetterOfCreditFacilityMemberus-gaap:DebtSecuritiesMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberspnt:UncommittedSecuredLetterOfCreditFacilityMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberspnt:UncommittedSecuredLetterOfCreditFacilityMemberus-gaap:CashAndCashEquivalentsMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberspnt:UncommittedSecuredLetterOfCreditFacilityMemberus-gaap:DebtSecuritiesMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberus-gaap:CashAndCashEquivalentsMember2024-06-300001576018us-gaap:StandbyLettersOfCreditMemberus-gaap:DebtSecuritiesMember2024-06-300001576018us-gaap:RevolvingCreditFacilityMember2021-02-262021-02-260001576018us-gaap:RevolvingCreditFacilityMember2021-02-260001576018us-gaap:RevolvingCreditFacilityMember2024-02-012024-02-290001576018us-gaap:RevolvingCreditFacilityMember2024-06-300001576018us-gaap:RestrictedStockMemberus-gaap:CommonStockMember2024-01-012024-06-300001576018us-gaap:RestrictedStockMemberus-gaap:CommonStockMember2023-01-012023-06-300001576018us-gaap:NonredeemablePreferredStockMember2024-06-300001576018us-gaap:SeriesBPreferredStockMember2024-01-012024-06-300001576018us-gaap:SeriesBPreferredStockMember2024-04-012024-06-300001576018us-gaap:SeriesBPreferredStockMember2023-04-012023-06-300001576018us-gaap:SeriesBPreferredStockMember2023-01-012023-06-300001576018us-gaap:EmployeeStockOptionMember2024-04-012024-06-300001576018us-gaap:EmployeeStockOptionMember2023-04-012023-06-300001576018us-gaap:EmployeeStockOptionMember2024-01-012024-06-300001576018us-gaap:EmployeeStockOptionMember2023-01-012023-06-300001576018spnt:RestrictedStockAndRestrictedStockUnitsRSUsMember2024-04-012024-06-300001576018spnt:RestrictedStockAndRestrictedStockUnitsRSUsMember2023-04-012023-06-300001576018spnt:RestrictedStockAndRestrictedStockUnitsRSUsMember2024-01-012024-06-300001576018spnt:RestrictedStockAndRestrictedStockUnitsRSUsMember2023-01-012023-06-300001576018us-gaap:RestrictedStockUnitsRSUMember2024-04-012024-06-300001576018us-gaap:RestrictedStockUnitsRSUMember2024-01-012024-06-300001576018us-gaap:EmployeeStockOptionMember2023-04-012023-06-300001576018us-gaap:EmployeeStockOptionMember2023-01-012023-06-300001576018us-gaap:WarrantMember2023-04-012023-06-300001576018us-gaap:WarrantMember2023-01-012023-06-300001576018us-gaap:RestrictedStockUnitsRSUMember2023-04-012023-06-300001576018us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-06-300001576018us-gaap:RelatedPartyMember2024-04-012024-06-300001576018us-gaap:RelatedPartyMember2024-01-012024-06-300001576018us-gaap:RelatedPartyMember2023-04-012023-06-300001576018us-gaap:RelatedPartyMember2023-01-012023-06-300001576018spnt:ManagementAndAdvisoryFeesMember2024-04-012024-06-300001576018spnt:ManagementAndAdvisoryFeesMember2023-04-012023-06-300001576018spnt:ManagementAndAdvisoryFeesMember2024-01-012024-06-300001576018spnt:ManagementAndAdvisoryFeesMember2023-01-012023-06-300001576018spnt:PerformanceFeesMember2024-04-012024-06-300001576018spnt:PerformanceFeesMember2023-04-012023-06-300001576018spnt:PerformanceFeesMember2024-01-012024-06-300001576018spnt:PerformanceFeesMember2023-01-012023-06-300001576018spnt:ManagementFeesMemberspnt:ThirdPointLLC2022LPAMember2022-02-230001576018spnt:ThirdPointLLC2022VentureIILPAMemberspnt:ManagementFeesMember2022-06-300001576018spnt:ThirdPointLLCTPIPSIMAMemberspnt:ManagementFeesMember2021-02-260001576018spnt:ManagementFeesMemberspnt:ThirdPointLLC2022IMAMember2022-02-230001576018spnt:AdvisoryFeesMemberspnt:ThirdPointLLC2022IMAMember2022-02-230001576018spnt:ThirdPointAdvisorsLLCMemberspnt:PerformanceFeesMember2019-01-010001576018spnt:PerformanceFeesMemberspnt:ThirdPointVentureGPLLCMember2021-03-010001576018spnt:ThirdPointVentureGPIILLCMemberspnt:PerformanceFeesMember2022-06-300001576018spnt:ThirdPointLLC2022IMAMemberspnt:IncentiveFeesMember2022-02-230001576018spnt:SiriusInternationalInsuranceGroupLtdMemberus-gaap:ContingentConvertiblePreferredStockMember2021-02-260001576018spnt:SiriusInternationalInsuranceGroupLtdMemberus-gaap:ContingentConvertiblePreferredStockMember2021-02-262021-02-260001576018us-gaap:MandatorilyRedeemablePreferredStockMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-04-012024-06-300001576018us-gaap:MandatorilyRedeemablePreferredStockMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-01-012024-06-300001576018us-gaap:MandatorilyRedeemablePreferredStockMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-04-012023-06-300001576018us-gaap:MandatorilyRedeemablePreferredStockMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-01-012023-06-300001576018us-gaap:MandatorilyRedeemablePreferredStockMember2024-06-300001576018us-gaap:MandatorilyRedeemablePreferredStockMember2023-12-310001576018spnt:SiriusInternationalInsuranceGroupLtdMemberus-gaap:ContingentConvertiblePreferredStockMember2024-01-012024-06-300001576018spnt:MergerWarrantMemberspnt:SiriusInternationalInsuranceGroupLtdMember2024-06-300001576018spnt:MergerWarrantMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-04-012024-06-300001576018spnt:MergerWarrantMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2024-01-012024-06-300001576018spnt:MergerWarrantMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-04-012023-06-300001576018spnt:MergerWarrantMemberspnt:FinancialInstrumentsSubjectToMandatoryRedemptionMember2023-01-012023-06-300001576018spnt:MergerWarrantMember2024-06-300001576018spnt:MergerWarrantMember2023-12-3100015760182023-01-012023-11-050001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMemberspnt:PrivateWarrantMember2023-04-012023-06-300001576018spnt:FinancialInstrumentsSubjectToMandatoryRedemptionMemberspnt:PrivateWarrantMember2023-01-012023-06-300001576018spnt:ContingentValueRightsMember2023-02-262023-02-260001576018us-gaap:CommitmentsToExtendCreditMemberus-gaap:RelatedPartyMember2020-09-160001576018spnt:PlayersHealthMember2022-03-072022-03-070001576018srt:ScenarioPreviouslyReportedMember2023-04-012023-06-300001576018srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2023-04-012023-06-300001576018srt:ScenarioPreviouslyReportedMember2023-01-012023-06-300001576018srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2023-01-012023-06-300001576018srt:ScenarioPreviouslyReportedMember2023-06-300001576018srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2023-06-300001576018us-gaap:SubsequentEventMember2024-07-310001576018us-gaap:SubsequentEventMemberspnt:ShareRepurchaseAgreementMembersrt:ScenarioForecastMember2024-08-012024-08-010001576018us-gaap:SubsequentEventMemberspnt:ShareRepurchaseAgreementMember2024-08-012024-08-010001576018us-gaap:SubsequentEventMemberspnt:ShareRepurchaseAgreementAndSettlementAgreementMembersrt:ScenarioForecastMember2024-07-012024-09-300001576018srt:MinimumMemberus-gaap:SubsequentEventMemberspnt:ShareRepurchaseAgreementAndSettlementAgreementMembersrt:ScenarioForecastMember2024-07-012024-09-300001576018us-gaap:SubsequentEventMembersrt:MaximumMemberspnt:ShareRepurchaseAgreementAndSettlementAgreementMembersrt:ScenarioForecastMember2024-07-012024-09-30

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________________
FORM 10-Q
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2024
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 001-36052
SIRIUSPOINT LTD.
(Exact name of registrant as specified in its charter)
Bermuda98-1599372
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
Point Building
3 Waterloo Lane
Pembroke HM 08, Bermuda
+1 441 542-3300
(Address of Principal Executive Offices) (Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Shares, $0.10 par valueSPNTNew York Stock Exchange
8.00% Resettable Fixed Rate Preference Shares,
 Series B, $0.10 par value,
$25.00 liquidation preference per share		SPNT PBNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes    ☒    No    ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes    ☒    No    ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     ☐
As of July 26, 2024, the registrant had 170,899,166 common shares issued and outstanding.


SiriusPoint Ltd.
INDEX
Page
PART I. FINANCIAL INFORMATION
  Item 1. Financial Statements
Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023
Consolidated Statements of Income for the three and six months ended June 30, 2024 and 2023 (unaudited)
Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023 (unaudited)
Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2024 and 2023 (unaudited)
Consolidated Statements of Cash Flows for the three and six months ended June 30, 2024 and 2023 (unaudited)
Note 1. Organization
Note 2. Significant accounting policies
Note 3. Significant transactions
Note 4. Segment reporting
Note 5. Cash, cash equivalents, restricted cash and restricted investments
Note 6. Fair value measurements
Note 7. Investments
Note 8. Total realized and unrealized investment gains (losses) and net investment income
Note 9. Derivatives
Note 10. Variable and voting interest entities
Note 11. Loss and loss adjustment expense reserves
Note 12. Allowance for expected credit losses
Note 13. Debt and letter of credit facilities
Note 14. Income taxes
Note 15. Shareholders' equity
Note 16. Earnings per share available to SiriusPoint common shareholders
Note 17. Related party transactions
Note 18. Commitments and contingencies
Note 19. Quarterly financial results
Note 20. Subsequent events
  Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  Item 3. Quantitative and Qualitative Disclosures About Market Risk
  Item 4. Controls and Procedures
  Item 1. Legal Proceedings
  Item 1A. Risk Factors
  Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
  Item 3. Defaults Upon Senior Securities
  Item 4. Mine Safety Disclosures
  Item 5. Other Information
  Item 6. Exhibits


PART I - Financial Information
ITEM 1. Financial Statements
SIRIUSPOINT LTD.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of June 30, 2024 and December 31, 2023
(expressed in millions of U.S. dollars, except per share and share amounts)
June 30,
2024		December 31,
2023
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses of $0.0 (2023 - $0.0) (cost - $5,375.5; 2023 - $4,754.6)
$5,345.3 $4,755.4 
Debt securities, trading, at fair value (cost - $330.6; 2023 - $568.1)
307.7 534.9 
Short-term investments, at fair value (cost - $97.9; 2023 - $370.8)
97.5 371.6 
Investments in related party investment funds, at fair value106.6 105.6 
Other long-term investments, at fair value (cost - $328.4; 2023 - $356.2) (includes related party investments at fair value of $146.0 (2023 - $173.7))
241.7 308.5 
Equity securities, at fair value (cost - $0.0; 2023 - $1.9)
— 1.6 
Total investments6,098.8 6,077.6 
Cash and cash equivalents598.1 969.2 
Restricted cash and cash equivalents125.9 132.1 
Redemption receivable from related party investment fund— 3.0 
Due from brokers28.6 5.6 
Interest and dividends receivable50.7 42.3 
Insurance and reinsurance balances receivable, net2,120.2 1,966.3 
Deferred acquisition costs, net341.9 308.9 
Unearned premiums ceded496.1 449.2 
Loss and loss adjustment expenses recoverable, net2,191.5 2,295.1 
Deferred tax asset285.1 293.6 
Intangible assets146.8 152.7 
Other assets280.3 175.9 
Total assets$12,764.0 $12,871.5 
Liabilities
Loss and loss adjustment expense reserves$5,606.0 $5,608.1 
Unearned premium reserves1,769.7 1,627.3 
Reinsurance balances payable1,544.5 1,736.7 
Deposit liabilities22.1 134.4 
Deferred gain on retroactive reinsurance23.0 27.9 
Debt648.6 786.2 
Due to brokers40.2 6.2 
Deferred tax liability56.1 68.7 
Liability-classified capital instruments72.6 67.3 
Accounts payable, accrued expenses and other liabilities275.7 278.1 
Total liabilities10,058.5 10,340.9 
Commitments and contingent liabilities
Shareholders’ equity
Series B preference shares (par value $0.10; authorized and issued: 8,000,000)
200.0 200.0 
Common shares (issued and outstanding: 170,572,790; 2023 - 168,120,022)
17.1 16.8 
Additional paid-in capital1,713.3 1,693.0 
Retained earnings801.7 601.0 
Accumulated other comprehensive income (loss), net of tax(28.0)3.1 
Shareholders’ equity attributable to SiriusPoint shareholders2,704.1 2,513.9 
Noncontrolling interests1.4 16.7 
Total shareholders’ equity2,705.5 2,530.6 
Total liabilities, noncontrolling interests and shareholders’ equity$12,764.0 $12,871.5 
The accompanying Notes to the Consolidated Financial Statements are
an integral part of the Consolidated Financial Statements.

1

SIRIUSPOINT LTD.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
For the three and six months ended June 30, 2024 and 2023
(expressed in millions of U.S. dollars, except per share and share amounts)
Three months endedSix months ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Revenues
Net premiums earned$590.5 $639.7 $1,184.3 $1,235.2 
Net investment income78.2 68.5 157.0 130.2 
Net realized and unrealized investment gains (losses)(55.9)(1.8)(54.9)9.5 
Net realized and unrealized investment gains (losses) from related party investment funds1.0 (0.9)1.0 (0.1)
Net investment income and net realized and unrealized investment gains (losses)23.3 65.8 103.1 139.6 
Other revenues129.5 5.3 141.4 14.1 
Total revenues743.3 710.8 1,428.8 1,388.9 
Expenses
Loss and loss adjustment expenses incurred, net364.4 375.7 681.9 642.8 
Acquisition costs, net119.9 111.8 264.8 231.5 
Other underwriting expenses41.1 43.3 82.9 95.5 
Net corporate and other expenses66.6 70.3 122.6 130.3 
Intangible asset amortization3.0 2.9 5.9 5.3 
Interest expense15.7 11.7 36.2 24.5 
Foreign exchange (gains) losses3.6 17.4 (0.1)17.5 
Total expenses614.3 633.1 1,194.2 1,147.4 
Income before income tax expense129.0 77.7 234.6 241.5 
Income tax expense(14.2)(15.8)(23.9)(41.3)
Net income114.8 61.9 210.7 200.2 
Net income attributable to noncontrolling interests(0.9)(2.0)(2.0)(4.4)
Net income available to SiriusPoint113.9 59.9 208.7 195.8 
Dividends on Series B preference shares(4.0)(4.0)(8.0)(8.0)
Net income available to SiriusPoint common shareholders$109.9 $55.9 $200.7 $187.8 
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders$0.60 $0.32 $1.11 $1.08 
Diluted earnings per share available to SiriusPoint common shareholders$0.57 $0.31 $1.05 $1.05 
Weighted average number of common shares used in the determination of earnings per share
Basic170,173,022 162,027,831 169,453,656 161,473,011 
Diluted178,711,254 166,708,932 178,085,119 165,997,198 
The accompanying Notes to the Consolidated Financial Statements are
an integral part of the Consolidated Financial Statements.

2

SIRIUSPOINT LTD.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
For the three and six months ended June 30, 2024 and 2023
(expressed in millions of U.S. dollars)

Three months endedSix months ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Comprehensive income
Net income$114.8 $61.9 $210.7 $200.2 
Other comprehensive loss, net of tax
Change in foreign currency translation adjustment(0.1)1.5 (1.9)1.2 
Unrealized losses from debt securities held as available for sale investments(3.4)(56.6)(21.8)(33.7)
Reclassifications from accumulated other comprehensive income (loss)(7.1)2.2 (7.4)1.6 
Total other comprehensive loss(10.6)(52.9)(31.1)(30.9)
Comprehensive income104.2 9.0 179.6 169.3 
Net income attributable to noncontrolling interests(0.9)(2.0)(2.0)(4.4)
Comprehensive income available to SiriusPoint$103.3 $7.0 $177.6 $164.9 
The accompanying Notes to the Consolidated Financial Statements are
an integral part of the Consolidated Financial Statements.
3

SIRIUSPOINT LTD.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (UNAUDITED)
For the three and six months ended June 30, 2024 and 2023
(expressed in millions of U.S. dollars)
Three months endedSix months ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Series B preference shares
Balance, beginning of period$200.0 $200.0 $200.0 $200.0 
Issuance of preference shares, net— — — — 
Balance, end of period200.0 200.0 200.0 200.0 
Common shares
Balance, beginning of period17.0 16.2 16.8 16.2 
Issuance of common shares, net0.1 0.1 0.1 0.1 
Exercise of options— — 0.2 — 
Balance, end of period17.1 16.3 17.1 16.3 
Additional paid-in capital
Balance, beginning of period1,711.2 1,642.6 1,693.0 1,641.3 
Issuance of common shares, net— 0.1 — 0.1 
Share compensation1.5 0.9 4.1 3.4 
Exercise of options0.6 2.0 16.2 2.0 
Change in ownership interest in subsidiary— — — (1.2)
Balance, end of period1,713.3 1,645.6 1,713.3 1,645.6 
Retained earnings
Balance, beginning of period691.8 394.1 601.0 262.2 
Net income114.8 61.9 210.7 200.2 
Net income attributable to noncontrolling interests(0.9)(2.0)(2.0)(4.4)
Dividends on preference shares(4.0)(4.0)(8.0)(8.0)
Balance, end of period801.7 450.0 801.7 450.0 
Accumulated other comprehensive loss, net of tax
Balance, beginning of period(17.4)(23.0)3.1 (45.0)
Change in foreign currency translation adjustment
Balance, beginning of period(5.9)(5.5)(4.1)(5.2)
Change in foreign currency translation adjustment(0.1)1.5 (1.9)1.2 
Balance, end of period(6.0)(4.0)(6.0)(4.0)
Unrealized losses from debt securities held as available for sale investments
Balance, beginning of period(11.5)(17.5)7.2 (39.8)
Unrealized losses from debt securities held as available for sale investments(3.4)(56.6)(21.8)(33.7)
Reclassifications from accumulated other comprehensive income (loss)(7.1)2.2 (7.4)1.6 
Balance, end of period(22.0)(71.9)(22.0)(71.9)
Balance, end of period(28.0)(75.9)(28.0)(75.9)
Shareholders’ equity attributable to SiriusPoint shareholders 2,704.1 2,236.0 2,704.1 2,236.0 
Noncontrolling interests1.4 12.9 1.4 12.9 
Total shareholders’ equity$2,705.5 $2,248.9 $2,705.5 $2,248.9 
The accompanying Notes to the Consolidated Financial Statements are
an integral part of the Consolidated Financial Statements.
4

SIRIUSPOINT LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the six months ended June 30, 2024 and 2023
(expressed in millions of U.S. dollars)
20242023
Operating activities
Net income$210.7 $200.2 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Share compensation11.0 10.8 
Net realized and unrealized (gain) loss on investments and derivatives68.6 (14.3)
Net realized and unrealized (gain) loss on investment in related party investment funds(1.0)0.1 
Other revenues5.3 44.1 
Amortization of premium and accretion of discount, net(34.8)(36.3)
Amortization of intangible assets5.9 5.3 
Other items, net(43.9)(4.2)
Changes in assets and liabilities:
Insurance and reinsurance balances receivable, net(153.9)(337.9)
Deferred acquisition costs, net(33.0)(47.7)
Unearned premium reserves net of unearned premiums ceded95.5 185.1 
Loss and loss adjustment expense reserves net of loss and loss adjustment expenses recoverable101.5 (861.7)
Deferred tax asset/liability(4.1)37.6 
Other assets(111.0)(12.4)
Interest and dividends receivable(8.4)(10.1)
Deferred gain on retroactive reinsurance(4.9)21.2 
Reinsurance balances payable(192.2)1,031.8 
Accounts payable, accrued expenses and other liabilities(2.4)(5.3)
Net cash provided by (used in) operating activities(91.1)206.3 
Investing activities
Purchases of debt securities, available-for-sale(1,423.8)(2,264.6)
Purchases of short-term investments(368.2)(820.3)
Purchases of other investments(22.2)(7.6)
Proceeds from sales and maturities of debt securities, available-for-sale821.3 663.6 
Proceeds from sales and maturities of debt securities, trading and short-term investments876.7 2,064.3 
Proceeds from sales and maturities of other investments43.5 52.3 
Change in due to/from brokers, net11.0 14.8 
Net cash used in investing activities(61.7)(297.5)
Financing activities
Payment of redemption of debt, net of proceeds from issuance of debt, including costs(124.0)— 
Net payments on deposit liability contracts(102.1)(7.3)
Net proceeds from exercise of options16.3 1.5 
Cash dividends paid to preference shareholders(8.0)(8.0)
Taxes paid on withholding shares (6.9)(7.5)
Proceeds from loans under an agreement to repurchase— 9.3 
Settlement of Contingent Value Rights— (38.5)
Change in total noncontrolling interests, net0.2 (0.6)
Net cash used in financing activities(224.5)(51.1)
Net decrease in cash, cash equivalents and restricted cash(377.3)(142.3)
Cash, cash equivalents and restricted cash at beginning of period1,101.3 913.7 
Cash, cash equivalents and restricted cash at end of period$724.0 $771.4 
 The accompanying Notes to the Consolidated Financial Statements are
 an integral part of the Consolidated Financial Statements.
5

SiriusPoint Ltd.
Notes to the Consolidated Financial Statements (UNAUDITED)
(Expressed in U.S. Dollars)
1. Organization
SiriusPoint Ltd. (together with its consolidated subsidiaries, “SiriusPoint” or the “Company”) was incorporated under the laws of Bermuda on October 6, 2011. Through its subsidiaries, the Company is a provider of global multi-line reinsurance and insurance products and services. 
These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 in Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual financial statements. In addition, the year-end consolidated balance sheet was derived from audited financial statements. It does not include all disclosures required by U.S. GAAP. This Quarterly Report on Form 10-Q (“Form 10-Q”) should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”) filed with the U.S. Securities and Exchange Commission on February 29, 2024.
In the opinion of management, these unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the Company’s financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated.
The results for the six months ended June 30, 2024 are not necessarily indicative of the results expected for the full calendar year.
Tabular amounts are in U.S. Dollars in millions, except share amounts, unless otherwise noted.
2. Significant accounting policies
There have been no material changes to the Company’s significant accounting policies as described in its 2023 Form 10-K.
Recently issued accounting standards
Issued and effective as of June 30, 2024
In June 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). The amendment clarifies the guidance in Topic 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and requires specific disclosures related to such an equity security. ASU 2022-03 is effective for public business entities for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years. This pronouncement did not have a material impact on the Company’s consolidated financial statements.
Issued but not yet effective as of June 30, 2024
Accounting pronouncements issued during the three and six months ended June 30, 2024 were either not relevant to the Company or did not impact the Company’s consolidated financial statements.
Reclassifications
Certain comparative figures have been reclassified to conform to the current year presentation.

6

3. Significant transactions
Workers’ Compensation Loss Portfolio Transfer
On April 30, 2024, SiriusPoint America Insurance Company (“SiriusPoint America”), a subsidiary of SiriusPoint Ltd., entered into a Master Agreement (the “Master Agreement”), dated as of April 30, 2024, made by and between SiriusPoint America and Clarendon National Insurance Company (“Clarendon National”), an insurer domiciled in Texas and an affiliate of Enstar Group Limited, a Bermuda exempted company (“Enstar”).
Pursuant to the Master Agreement, at the closing of the transactions contemplated therein, among other documents, (a) SiriusPoint America and Clarendon National will enter into a Loss Portfolio Transfer Reinsurance Agreement (the “LPT Agreement”), pursuant to which SiriusPoint America will cede and Clarendon National will assume 100% of the net liability with respect to certain workers’ compensation insurance exposures of SiriusPoint America (the “Subject Business”) on a funds withheld basis, subject to the terms and conditions of the LPT Agreement including an aggregate limit; (b) SiriusPoint America and an affiliate of Clarendon National (the “Administrator”) will enter into an Administrative Services Agreement concerning the Administrator’s authority and responsibility for certain administrative services related to the Subject Business, including claims handling; and (c) Enstar shall issue a Parental Guarantee in favor of SiriusPoint America guaranteeing Clarendon National’s obligations under the LPT Agreement. In certain circumstances and in lieu of the guarantee obligations provided thereunder, Clarendon National may post letters of credit as collateral securing Clarendon National’s reinsurance obligations with respect to the Subject Business. Immediately prior to the effective date of the LPT Agreement, SiriusPoint will be commuting certain ceded workers’ compensation reinsurance contracts, and the liabilities related to those commuted contracts will be included in the Subject Business.
This transaction covers approximately $400 million of SiriusPoint reserves, including liabilities to be commuted, valued as of December 31, 2023, and the reinsurance premium. The aggregate limit under the LPT Agreements is 150% of the premium paid less certain adjustments for paid losses in the interim period prior to the effective date of the contract. Upon closing and the effective date of the contract, the Company expects to recognize a loss of $20 million to $30 million.
The Master Agreement and the LPT Agreements include customary representations and warranties, indemnification obligations, covenants and termination rights of the parties. The transaction is anticipated to close during the third quarter of 2024, subject to regulatory approvals and other customary closing conditions.
SiriusPoint International Loss Portfolio Transfer
On March 2, 2023, the Company agreed, subject to applicable regulatory approvals and other closing conditions, to enter into a loss portfolio transfer transaction (“2023 LPT”), on a funds withheld basis, with Pallas Reinsurance Company Ltd., a subsidiary of the Compre Group, an insurance and reinsurance legacy specialist. The transaction covered loss reserves ceded initially estimated at $1.3 billion as of the valuation date of September 30, 2022, which were reduced to $905.6 million as of June 30, 2023 at closing, as a result of paid losses and favorable prior accident year reserve development recognized during the interim period, and included in Loss and loss adjustment expenses recoverable in the Company’s consolidated balance sheets. As of June 30, 2024, the Company recorded funds held payable of $639.2 million in Reinsurance balances payable and reinsurance recoverable of $662.0 million, and the Company’s estimate of deferred gain is $23.0 million. The 2023 LPT comprises several classes of business from 2021 and prior underwriting years. The aggregate limit under the 2023 LPT is 130% of roll forward reserves at the inception of the contract.
4. Segment reporting
The determination of the Company’s business segments is based on the manner in which management monitors the performance of its operations. The Company reports two operating segments: Reinsurance and Insurance & Services. The Company’s segments each have managers who are responsible for the overall profitability of their segments and who are directly accountable to the Company’s chief operating decision maker, the Chief Executive Officer ("CEO"). The CEO assesses segment operating performance, allocates capital, and makes resource allocation decisions based on Segment income (loss). The Company does not manage its assets by segment; accordingly, total assets are not allocated to the segments.
Reinsurance
In the Reinsurance segment, the Company provides reinsurance products to insurance and reinsurance companies, government entities, and other risk bearing vehicles on a treaty or facultative basis. For reinsurance assumed, the Company participates in the reinsurance market with a global focus through the broker market distribution channel. The Company primarily writes treaty reinsurance, on both a proportional and excess of loss basis, and provides facultative reinsurance in

7

some of its business lines. In the United States and Bermuda, the Company’s core focus is on distribution, risk and clients located in North America, while our international operation is focused primarily on distribution, risks and clients located in Europe.
The Reinsurance segment predominantly underwrites Casualty, Property and Specialty lines of business on a worldwide basis.
Casualty – the Company provides reinsurance to casualty insurers who underwrite a diverse range of casualty classes. The Company works with clients all over the world, including multi-national, nationwide and regional carriers, as well as risk retention groups and captives. The Company also partners with managing general agents (“MGAs”) and sponsor cover holders. The Company’s underwriting focus is on proportional transactions covering all major commercial casualty lines, as well professional liability with an emphasis on specialty niche classes of business, including personal lines.
Property – the Company works with leading global brokers as well as large national writers and regional companies. Underwriting is focused on providing critical catastrophe protection and worldwide coverage for natural perils, underwriting residential, commercial, and industrial risks in the United States, Europe and Asia. The Company’s property reinsurance offering includes: property catastrophe protection, risk excess of loss, cannabis - pro rata, building risk and structured property specifically in the United States. In 2023, as part of its international reorganization, the Company significantly reduced its international property catastrophe premiums written, with reinsurance protection purchased at similar costs but with lower attachment points to further protect the balance sheet.
Specialty - the Company’s business encompasses a broad range of worldwide reinsurance coverages, including proportional and excess of loss, treaty and facultative. Specialty business lines in the Reinsurance segment include Aviation & Space, Marine & Energy and Credit.
Insurance & Services
Through the Insurance & Services segment, the Company underwrites primary insurance in a number of sectors. The Insurance & Services segment includes Accident & Health, Casualty, and Specialty.
Accident and Health (“A&H”) – the Company provides flexible insurance products to meet the risk management needs of diverse populations in select markets. This includes employer groups, associations, affinity groups, higher education and other niche markets. The Company also owns 100% of IMG and Armada, who receive fees for services provided within Insurance & Services and to third parties. IMG offers a full line of international medical insurance products, trip cancellation programs, medical management services and 24/7 emergency medical and travel assistance. Armada operates as a supplemental medical insurance MGA.
Property & Casualty - the Company is a leading carrier for program administrators and MGAs. The majority of its insurance business is written through partners in the property and casualty space, covering professional liability, workers’ compensation, and commercial auto lines in Bermuda, London, Europe, North America and round the world.
Specialty - the Company’s business encompasses a broad range of worldwide insurance coverages. Specialty business lines in the Insurance & Services segment include Aviation & Space, Marine & Energy, Credit and Mortgage.
Management uses segment income (loss) as the primary basis for assessing segment performance. Segment income (loss) is comprised of two components, underwriting income (loss) and net services income (loss). The Company calculates underwriting income (loss) by subtracting loss and loss adjustment expenses incurred, net, acquisition costs, net, and other underwriting expenses from net premiums earned. Net services income (loss) consists of services revenues (fee for service revenue), services expenses, and services non-controlling (income) loss. This definition of segment income (loss) aligns with how business performance is managed and monitored. We continue to evaluate our segments as our business evolves and may further refine our segments and segment income (loss) measures. Certain items are presented in a different manner for segment reporting purposes than in the consolidated statements of income. These items are reconciled to the consolidated presentation in the segment measure reclass column below. Included in Insurance & Services segment income (loss) are services noncontrolling loss (income) attributable to minority shareholders on non-wholly-owned subsidiaries. In addition, services revenues and services expenses are reconciled to other revenues and net corporate and other expenses, respectively.
Segment results are shown prior to corporate eliminations. Corporate eliminations are included in the elimination column below as necessary to reconcile to underwriting income (loss), net services income (loss), and segment income (loss) to the consolidated statements of income.

8

Corporate includes the results of all runoff business, which represents certain classes of business that we no longer actively underwrite, including the effect of the restructuring of the underwriting platform announced in 2022 and certain reinsurance contracts that have interest crediting features. Corporate results also include asbestos and environmental and other latent liability exposures on a gross basis, which have mostly been ceded, as well as specific workers’ compensation and cyber programs which the Company no longer writes. In addition, revenue and expenses managed at the corporate level, including realized gains (losses), other investment income, including gains (losses) from strategic investments, net realized and unrealized investment gains (losses) from related party investment funds, non services-related other revenues, non services-related net corporate and other expenses, intangible asset amortization, interest expense, foreign exchange (gains) losses and income tax (expense) benefit are reported within Corporate. The CEO does not manage segment results or allocate resources to segments when considering these items and they are therefore excluded from our definition of segment income (loss).
The following is a summary of the Company’s operating segment results for the three and six months ended June 30, 2024 and 2023:
Three months ended June 30, 2024
ReinsuranceInsurance & ServicesCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$352.5 $490.2 $842.7 $— $21.8 $— $864.5 
Net premiums written308.8 341.1 649.9 — (6.3)— 643.6 
Net premiums earned256.2 297.2 553.4 — 37.1 — 590.5 
Loss and loss adjustment expenses incurred, net143.8 192.2 336.0 (1.3)29.7 — 364.4 
Acquisition costs, net67.2 75.8 143.0 (36.5)13.4 — 119.9 
Other underwriting expenses20.2 17.3 37.5 — 3.6 — 41.1 
Underwriting income (loss)25.0 11.9 36.9 37.8 (9.6)— 65.1 
Services revenues— 57.4 57.4 (34.4)— (23.0)— 
Services expenses— 47.7 47.7 — — (47.7)— 
Net services fee income— 9.7 9.7 (34.4)— 24.7 — 
Services noncontrolling income— (0.6)(0.6)— — 0.6 — 
Net services income— 9.1 9.1 (34.4)— 25.3 — 
Segment income (loss)25.0 21.0 46.0 3.4 (9.6)25.3 65.1 
Net investment income78.2 — 78.2 
Net realized and unrealized investment losses(55.9)— (55.9)
Net realized and unrealized investment gains from related party investment funds1.0 — 1.0 
Other revenues106.5 23.0 129.5 
Net corporate and other expenses(18.9)(47.7)(66.6)
Intangible asset amortization(3.0)— (3.0)
Interest expense(15.7)— (15.7)
Foreign exchange losses(3.6)— (3.6)
Income before income tax expense$25.0 $21.0 46.0 3.4 79.0 0.6 129.0 
Income tax expense— — (14.2)— (14.2)
Net income46.0 3.4 64.8 0.6 114.8 
Net income attributable to noncontrolling interests— — (0.3)(0.6)(0.9)
Net income available to SiriusPoint$46.0 $3.4 $64.5 $— $113.9 
Underwriting Ratios: (1)
Loss ratio56.1 %64.7 %60.7 %61.7 %
Acquisition cost ratio26.2 %25.5 %25.8 %20.3 %
Other underwriting expenses ratio7.9 %5.8 %6.8 %7.0 %
Combined ratio
90.2 %96.0 %93.3 %89.0 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

9

Three months ended June 30, 2023
ReinsuranceInsurance & ServicesCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$357.7 $447.5 $805.2 $— $37.3 $— $842.5 
Net premiums written311.9 276.4 588.3 — 37.3 — 625.6 
Net premiums earned271.8 324.4 596.2 — 43.5 — 639.7 
Loss and loss adjustment expenses incurred, net146.7 216.7 363.4 (1.5)13.8 — 375.7 
Acquisition costs, net51.3 80.7 132.0 (35.9)15.7 — 111.8 
Other underwriting expenses12.0 25.5 37.5 — 5.8 — 43.3 
Underwriting income61.8 1.5 63.3 37.4 8.2 — 108.9 
Services revenues(2.8)62.2 59.4 (36.9)— (22.5)— 
Services expenses— 50.0 50.0 — — (50.0)— 
Net services fee income (loss)(2.8)12.2 9.4 (36.9)— 27.5 — 
Services noncontrolling income— (1.7)(1.7)— — 1.7 — 
Net services income (loss)(2.8)10.5 7.7 (36.9)— 29.2 — 
Segment income59.0 12.0 71.0 0.5 8.2 29.2 108.9 
Net investment income68.5 — 68.5 
Net realized and unrealized investment losses(1.8)— (1.8)
Net realized and unrealized investment losses from related party investment funds(0.9)— (0.9)
Other revenues(17.2)22.5 5.3 
Net corporate and other expenses(20.3)(50.0)(70.3)
Intangible asset amortization(2.9)— (2.9)
Interest expense(11.7)— (11.7)
Foreign exchange losses(17.4)— (17.4)
Income before income tax expense$59.0 $12.0 71.0 0.5 4.5 1.7 77.7 
Income tax expense— — (15.8)— (15.8)
Net income (loss)71.0 0.5 (11.3)1.7 61.9 
Net income attributable to noncontrolling interests— — (0.3)(1.7)(2.0)
Net income (loss) available to SiriusPoint$71.0 $0.5 $(11.6)$— $59.9 
Underwriting Ratios: (1)
Loss ratio54.0 %66.8 %61.0 %58.7 %
Acquisition cost ratio18.9 %24.9 %22.1 %17.5 %
Other underwriting expenses ratio4.4 %7.9 %6.3 %6.8 %
Combined ratio77.3 %99.6 %89.4 %83.0 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

10

Six months ended June 30, 2024
ReinsuranceInsurance & ServicesCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$708.9 $1,014.5 $1,723.4 $— $47.7 $— $1,771.1 
Net premiums written 598.9 678.2 1,277.1 — 5.8 — 1,282.9 
Net premiums earned509.8 561.4 1,071.2 — 113.1 — 1,184.3 
Loss and loss adjustment expenses incurred, net 268.4 368.7 637.1 (2.7)47.5 — 681.9 
Acquisition costs, net137.0 141.0 278.0 (69.7)56.5 — 264.8 
Other underwriting expenses 39.5 35.4 74.9 — 8.0 — 82.9 
Underwriting income64.9 16.3 81.2 72.4 1.1 — 154.7 
Services revenues— 123.2 123.2 (71.5)— (51.7)— 
Services expenses— 93.7 93.7 — — (93.7)— 
Net services fee income— 29.5 29.5 (71.5)— 42.0 — 
Services noncontrolling income— (2.3)(2.3)— — 2.3 — 
Net services income— 27.2 27.2 (71.5)— 44.3 — 
Segment income64.9 43.5 108.4 0.9 1.1 44.3 154.7 
Net investment income157.0 — 157.0 
Net realized and unrealized investment losses(54.9)— (54.9)
Net realized and unrealized investment gains from related party investment funds1.0 — 1.0 
Other revenues89.7 51.7 141.4 
Net corporate and other expenses(28.9)(93.7)(122.6)
Intangible asset amortization(5.9)— (5.9)
Interest expense(36.2)— (36.2)
Foreign exchange gains0.1 — 0.1 
Income before income tax expense$64.9 $43.5 108.4 0.9 123.0 2.3 234.6 
Income tax expense— — (23.9)— (23.9)
Net income108.4 0.9 99.1 2.3 210.7 
Net (income) loss attributable to noncontrolling interests— — 0.3 (2.3)(2.0)
Net income available to SiriusPoint$108.4 $0.9 $99.4 $— $208.7 
Underwriting Ratios: (1)
Loss ratio52.6 %65.7 %59.5 %57.6 %
Acquisition cost ratio26.9 %25.1 %26.0 %22.4 %
Other underwriting expenses ratio7.7 %6.3 %7.0 %7.0 %
Combined ratio
87.2 %97.1 %92.5 %87.0 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

11

Six months ended June 30, 2023
ReinsuranceInsurance & ServicesCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written