EX-99.2 3 exhibit992-financialsupple.htm EX-99.2 FINANCIAL SUPPLEMENT

    

SiriusPoint Ltd.

Financial Supplement

June 30, 2023

(UNAUDITED)

This financial supplement is for informational purposes only. It should be read in conjunction with documents filed with the Securities and Exchange Commission by SiriusPoint Ltd., including the Company’s Quarterly Report on Form 10-Q.

Point Building						Dhruv Gahlaut - Head of Investor Relations and Chief Strategy Officer
3 Waterloo Lane						Tel: (044) 20 3772 3111
Pembroke HM 08						Email: investor.relations@siriuspt.com
Bermuda						Website: www.siriuspt.com

---

SiriusPoint Ltd.

Basis of Presentation and Non-GAAP Financial Measures:

Unless the context otherwise indicates or requires, as used in this financial supplement references to “we,” “our,” “us,” the “Company,” and "SiriusPoint" refer to SiriusPoint Ltd. and its directly and indirectly owned subsidiaries, as a combined entity, except where otherwise stated or where it is clear that the terms mean only SiriusPoint Ltd. exclusive of its subsidiaries. We have made rounding adjustments to reach some of the figures included in this financial supplement and, unless otherwise indicated, percentages presented in this financial supplement are approximate.

In presenting SiriusPoint’s results, management has included financial measures that are not calculated under standards or rules that comprise accounting principles generally accepted in the United States (“GAAP”). SiriusPoint’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of SiriusPoint’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Management believes it is useful to review Core results as it better reflects how management views the business and reflects the Company’s decision to exit the runoff business. Tangible book value per diluted common share is also a non-GAAP financial measure. SiriusPoint's management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets. Reconciliations and definitions of such measures to the most comparable GAAP figures are included in the attached financial information in accordance with Regulation G.

Safe Harbor Statement Regarding Forward-Looking Statements:

This financial supplement includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this financial supplement is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this financial supplement. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “intends,” “seeks,” “anticipates,” “aims,” “plans,” “targets,” “estimates,” “expects,” “assumes,” “continues,” “should,” “could,” “will,” “may” and the negative of these or similar terms and phrases. Actual events, results and outcomes may differ materially from the Company’s expectations due to a variety of known and unknown risks, uncertainties and other factors. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: our ability to execute on our strategic transformation, including re-underwriting to reduce volatility and improving underwriting performance, de-risking our investment portfolio, and transforming our business, including re-balancing our portfolio and growing the Insurance & Services segment; the impact of unpredictable catastrophic events including uncertainties with respect to current and future COVID-19 losses across many classes of insurance business and the amount of insurance losses that may ultimately be ceded to the reinsurance market, supply chain issues, labor shortages and related increased costs, changing interest rates and equity market volatility; inadequacy of loss and loss adjustment expense reserves, the lack of available capital, and periods characterized by excess underwriting capacity and unfavorable premium rates; the performance of financial markets, impact of inflation, and foreign currency fluctuations; our ability to compete successfully in the (re)insurance market and the effect of consolidation in the (re)insurance industry; technology breaches or failures, including those resulting from a malicious cyber-attack on us, our business partners or service providers; the effects of global climate change, including increased severity and frequency of weather-related natural disasters and catastrophes and increased coastal flooding in many geographic areas; our ability to retain key senior management and key employees; a downgrade or withdrawal of our financial ratings; fluctuations in our results of operations; legal restrictions on certain of SiriusPoint’s insurance and reinsurance subsidiaries’ ability to pay dividends and other distributions to SiriusPoint; the outcome of legal and regulatory proceedings and regulatory constraints on our business; reduced returns or losses in SiriusPoint’s investment portfolio; our potential exposure to U.S. federal income and withholding taxes and our significant deferred tax assets, which could become devalued if we do not generate future taxable income or applicable corporate tax rates are reduced; risks associated with delegating authority to third party managing general agents; future strategic transactions such as acquisitions, dispositions, investments, mergers or joint ventures; SiriusPoint’s response to any acquisition proposal that may be received from any party, including any actions that may be considered by the Company’s board of directors or any committee thereof; and other risks and factors listed under "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other subsequent periodic reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Page 2 of 19                             

---

SiriusPoint Ltd.

Table of Contents

Key Performance Indicators
Key Performance Indicators						4
Consolidated Financial Statements
Consolidated Balance Sheets - by Quarter						5
Consolidated Statements of Income (Loss)						6
Consolidated Statements of Income (Loss) - by Quarter						7
Operating Segment Information
Segment Reporting - Three months ended June 30, 2023						8
Segment Reporting - Three months ended June 30, 2022						9
Segment Reporting - Six months ended June 30, 2023						10
Segment Reporting - Six months ended June 30, 2022						11
Consolidated Results - by Quarter						12
Core Results - by Quarter						13
Reinsurance Segment - by Quarter						14
Insurance & Services Segment - by Quarter						15
Investments
Investments - by Quarter						16
Other
Earnings (loss) per Share - by Quarter						17
Annualized Return on Average Common Shareholders’ Equity - by Quarter						18
Book Value per Share - by Quarter						19

Page 3 of 19                             

---

SiriusPoint Ltd.

Key Performance Indicators

June 30, 2023 and 2022

(expressed in millions of U.S. dollars, except per share data and ratios)

			Three months ended												Six months ended
			June 30, 2023						June 30, 2022						June 30, 2023						June 30, 2022
Combined ratio			81.9		%				93.1		%				78.2		%				93.4		%
Core underwriting income (1)			$	81.7					$	9.6					$	189.1					$	22.3
Core net services income (1)			$	3.6					$	10.6					$	16.4					$	24.6
Core income (1)			$	85.3					$	20.2					$	205.5					$	46.9
Core combined ratio (1)			87.7		%				98.3		%				84.4		%				98.0		%
Accident year loss ratio (1)			63.6		%				64.0		%				63.6		%				64.1		%
Accident year combined ratio (1)			91.4		%				98.6		%				94.1		%				98.6		%
Attritional loss ratio (1)			63.6		%				61.2		%				53.3		%				62.0		%
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders			13.0		%				(11.8)		%				20.9		%				(25.7)		%
Book value per common share (2)			$	12.59					$	11.56					$	12.59					$	11.56
Book value per diluted common share (2)			$	12.29					$	11.32					$	12.29					$	11.32
Tangible book value per diluted common share (1) (2)			$	11.39					$	10.43					$	11.39					$	10.43

(1)Core underwriting income, Core net services income, Core income and Core combined ratio are non-GAAP financial measures. See reconciliations in “Segment Reporting.” Accident year combined ratio, accident year loss ratio and attritional loss ratio are non-GAAP financial measures. See definitions in “Core Results by Quarter.” Tangible book value per diluted common share is a non-GAAP financial measure. See reconciliation in “Book Value per Share - by Quarter.”

(2)Prior year comparatives represent amounts as of December 31, 2022.

Page 4 of 19                             

---

SiriusPoint Ltd.

Consolidated Balance Sheets - by Quarter

(expressed in millions of U.S. dollars)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Assets
Debt securities, available for sale, at fair value, net of allowance for credit losses						$	4,172.1					$	3,565.9					$	2,635.5					$	1,324.0					$	715.5
Debt securities, trading, at fair value						753.2						1,120.2						1,526.0						1,697.1						2,210.5
Short-term investments, at fair value						559.2						594.0						984.6						1,991.6						1,378.0
Investments in related party investment funds, at fair value						111.3						117.9						128.8						309.0						318.1
Other long-term investments, at fair value						355.4						361.9						377.2						414.9						436.4
Equity securities, trading, at fair value						1.6						1.6						1.6						1.4						1.6
Total investments						5,952.8						5,761.5						5,653.7						5,738.0						5,060.1
Cash and cash equivalents						676.2						763.6						705.3						647.3						746.6
Restricted cash and cash equivalents						95.2						211.0						208.4						144.2						630.6
Redemption receivable from related party investment fund						5.0						11.6						18.5						—						—
Due from brokers						18.2						6.5						4.9						20.2						72.8
Interest and dividends receivable						36.8						33.5						26.7						17.0						14.6
Insurance and reinsurance balances receivable, net						2,252.1						2,261.0						1,876.9						1,952.7						1,934.8
Deferred acquisition costs, net						340.3						357.1						294.9						278.6						271.3
Unearned premiums ceded						481.3						462.3						348.8						379.1						375.6
Loss and loss adjustment expenses recoverable, net						2,276.7						1,392.0						1,376.2						1,309.2						1,257.5
Deferred tax asset						164.3						175.7						200.3						197.6						180.1
Intangible assets						158.5						161.9						163.8						165.9						168.0
Assets held for sale						—						—						—						20.9						—
Other assets						165.4						209.5						157.9						127.4						129.2
Total assets						$	12,622.8					$	11,807.2					$	11,036.3					$	10,998.1					$	10,841.2
Liabilities
Loss and loss adjustment expense reserves						$	5,338.8					$	5,318.9					$	5,268.7					$	5,200.5					$	4,940.8
Unearned premium reserves						1,819.2						1,833.1						1,521.1						1,572.8						1,557.2
Reinsurance balances payable						1,845.4						1,004.9						813.6						793.9						759.0
Deposit liabilities						137.8						141.2						140.5						138.9						143.5
Deferred gain on retroactive reinsurance						21.2						—						—						—						—
Debt						765.9						779.2						778.0						762.0						781.3
Securities sold, not yet purchased, at fair value						—						19.4						27.0						41.7						83.4
Securities sold under an agreement to repurchase						11.0						20.3						18.0						17.3						17.5
Due to brokers						28.1						60.1						—						16.6						18.0
Deferred tax liability						61.0						59.4						59.8						66.9						59.2
Liability-classified capital instruments						65.4						47.0						60.4						48.9						50.7
Accounts payable, accrued expenses and other liabilities						261.3						275.7						266.6						245.8						206.5
Total liabilities						10,355.1						9,559.2						8,953.7						8,905.3						8,617.1
Commitments and contingent liabilities
Shareholders’ equity
Series B preference shares						200.0						200.0						200.0						200.0						200.0
Common shares						16.3						16.2						16.2						16.2						16.2
Additional paid-in capital						1,645.6						1,642.6						1,641.3						1,633.2						1,630.3
Retained earnings						467.1						400.8						262.2						288.8						387.2
Accumulated other comprehensive loss, net of tax						(74.2)						(23.0)						(45.0)						(53.7)						(10.4)
Shareholders’ equity attributable to SiriusPoint shareholders						2,254.8						2,236.6						2,074.7						2,084.5						2,223.3
Noncontrolling interests						12.9						11.4						7.9						8.3						0.8
Total shareholders’ equity						2,267.7						2,248.0						2,082.6						2,092.8						2,224.1
Total liabilities, noncontrolling interests and shareholders’ equity						$	12,622.8					$	11,807.2					$	11,036.3					$	10,998.1					$	10,841.2

Page 5 of 19                             

---

SiriusPoint Ltd.

Consolidated Statements of Income (Loss)

(expressed in millions of U.S. dollars, except share and per share data)

			Three months ended												Six months ended
			June 30, 2023						June 30, 2022						June 30, 2023						June 30, 2022
Revenues
Net premiums earned			$	703.8					$	568.8					$	1,299.3					$	1,098.1
Net realized and unrealized investment gains (losses)			(1.8)						(98.4)						9.5						(180.3)
Net realized and unrealized investment losses from related party investment funds			(0.9)						(60.5)						(0.1)						(191.5)
Net investment income			68.5						17.4						130.2						25.2
Net realized and unrealized investment gains (losses) and net investment income			65.8						(141.5)						139.6						(346.6)
Other revenues			(1.7)						45.8						14.1						83.0
Total revenues			767.9						473.1						1,453.0						834.5
Expenses
Loss and loss adjustment expenses incurred, net			407.0						360.3						674.1						700.4
Acquisition costs, net			126.2						123.6						245.9						232.1
Other underwriting expenses			43.3						46.1						95.5						93.3
Net corporate and other expenses			70.3						72.0						130.3						149.4
Intangible asset amortization			2.9						2.0						5.3						3.9
Interest expense			11.7						9.4						24.5						18.7
Foreign exchange (gains) losses			17.4						(56.5)						17.5						(75.9)
Total expenses			678.8						556.9						1,193.1						1,121.9
Income (loss) before income tax (expense) benefit			89.1						(83.8)						259.9						(287.4)
Income tax (expense) benefit			(16.8)						27.7						(42.6)						18.0
Net income (loss)			72.3						(56.1)						217.3						(269.4)
Net income attributable to noncontrolling interests			(2.0)						(0.7)						(4.4)						(0.4)
Net income (loss) available to SiriusPoint			70.3						(56.8)						212.9						(269.8)
Dividends on Series B preference shares			(4.0)						(4.0)						(8.0)						(8.0)
Net income (loss) available to SiriusPoint common shareholders			$	66.3					$	(60.8)					$	204.9					$	(277.8)
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders (1)			$	0.38					$	(0.38)					$	1.18					$	(1.74)
Diluted earnings (loss) per share available to SiriusPoint common shareholders (1)			$	0.37					$	(0.38)					$	1.14					$	(1.74)
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic			162,027,831						160,258,883						161,473,011						160,064,319
Diluted			166,708,932						160,258,883						165,997,198						160,064,319

(1)    Basic earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options and unvested restricted shares. Diluted earnings (loss) per share is based on the weighted average number of common shares and participating securities outstanding and includes any dilutive effects of warrants, options and unvested restricted shares under share plans and are determined using the treasury stock method. U.S. GAAP requires that participating securities be treated in the same manner as outstanding shares for earnings per share calculations. The Company treats certain of its unvested restricted shares as participating securities. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 6 of 19                             

---

SiriusPoint Ltd.

Consolidated Statements of Income (Loss) - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Revenues
Net premiums earned						$	703.8					$	595.5					$	607.4					$	612.6					$	568.8
Net realized and unrealized investment gains (losses)						(1.8)						11.3						10.9						(56.1)						(98.4)
Net realized and unrealized investment gains (losses) from related party investment funds						(0.9)						0.8						(10.7)						(8.3)						(60.5)
Net investment income						68.5						61.7						51.9						36.2						17.4
Net realized and unrealized investment gains (losses) and net investment income						65.8						73.8						52.1						(28.2)						(141.5)
Other revenues						(1.7)						15.8						14.1						13.1						45.8
Total revenues						767.9						685.1						673.6						597.5						473.1
Expenses
Loss and loss adjustment expenses incurred, net						407.0						267.1						390.1						497.9						360.3
Acquisition costs, net						126.2						119.7						113.0						116.8						123.6
Other underwriting expenses						43.3						52.2						46.4						44.8						46.1
Net corporate and other expenses						70.3						60.0						92.6						70.8						72.0
Intangible asset amortization						2.9						2.4						2.1						2.1						2.0
Interest expense						11.7						12.8						10.5						9.4						9.4
Foreign exchange (gains) losses						17.4						0.1						61.5						(51.6)						(56.5)
Total expenses						678.8						514.3						716.2						690.2						556.9
Income (loss) before income tax (expense) benefit						89.1						170.8						(42.6)						(92.7)						(83.8)
Income tax (expense) benefit						(16.8)						(25.8)						19.6						(0.9)						27.7
Net income (loss)						72.3						145.0						(23.0)						(93.6)						(56.1)
Net (income) loss attributable to noncontrolling interests						(2.0)						(2.4)						0.4						(0.8)						(0.7)
Net income (loss) available to SiriusPoint						70.3						142.6						(22.6)						(94.4)						(56.8)
Dividends on Series B preference shares						(4.0)						(4.0)						(4.0)						(4.0)						(4.0)
Net income (loss) available to SiriusPoint common shareholders						$	66.3					$	138.6					$	(26.6)					$	(98.4)					$	(60.8)
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders (1)						$	0.38					$	0.80					$	(0.17)					$	(0.61)					$	(0.38)
Diluted earnings (loss) per share available to SiriusPoint common shareholders (1)						$	0.37					$	0.78					$	(0.17)					$	(0.61)					$	(0.38)
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic						162,027,831						160,905,860						160,459,088						160,321,270						160,258,883
Diluted						166,708,932						164,130,946						160,459,088						160,321,270						160,258,883

(1)     Basic income (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares and preference shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 7 of 19                             

---

SiriusPoint Ltd.

Segment Reporting - Three months ended June 30, 2023

(expressed in millions of U.S. dollars, except ratios)

			Reinsurance						Insurance & Services						Core						Eliminations (2)						Corporate						Segment Measure Reclass						Total
Gross premiums written			$	387.1					$	462.7					$	849.8					$	—					$	37.3					$	—					$	887.1
Net premiums written			341.3						291.6						632.9						—						37.3						—						670.2
Net premiums earned			320.7						339.6						660.3						—						43.5						—						703.8
Loss and loss adjustment expenses incurred, net			167.0						227.7						394.7						(1.5)						13.8						—						407.0
Acquisition costs, net			62.4						84.0						146.4						(35.9)						15.7						—						126.2
Other underwriting expenses			12.0						25.5						37.5						—						5.8						—						43.3
Underwriting income			79.3						2.4						81.7						37.4						8.2						—						127.3
Services revenues			(2.8)						62.2						59.4						(37.0)						—						(22.4)						—
Services expenses			—						50.0						50.0						—						—						(50.0)						—
Net services fee income (loss)			(2.8)						12.2						9.4						(37.0)						—						27.6						—
Services noncontrolling income			—						(1.7)						(1.7)						—						—						1.7						—
Net investment losses from Strategic Investments			—						(4.1)						(4.1)						—						—						4.1						—
Net services income (loss)			(2.8)						6.4						3.6						(37.0)						—						33.4						—
Segment income			76.5						8.8						85.3						0.4						8.2						33.4						127.3
Net realized and unrealized investment gains (losses)																											2.3						(4.1)						(1.8)
Net realized and unrealized investment losses from related party investment funds																											(0.9)						—						(0.9)
Net investment income																											68.5						—						68.5
Other revenues																											(24.1)						22.4						(1.7)
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			$	76.5					$	8.8					85.3						0.4						1.7						1.7						89.1
Income tax expense															—						—						(16.8)						—						(16.8)
Net income (loss)															85.3						0.4						(15.1)						1.7						72.3
Net income attributable to noncontrolling interest															—						—						(0.3)						(1.7)						(2.0)
Net income (loss) available to SiriusPoint															$	85.3					$	0.4					$	(15.4)					$	—					$	70.3
Underwriting Ratios: (1)
Loss ratio			52.1		%				67.0		%				59.8		%																						57.8		%
Acquisition cost ratio			19.5		%				24.7		%				22.2		%																						17.9		%
Other underwriting expenses ratio			3.7		%				7.5		%				5.7		%																						6.2		%
Combined ratio			75.3		%				99.2		%				87.7		%																						81.9		%

(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.

Page 8 of 19                             

---

SiriusPoint Ltd.

Segment Reporting - Three months ended June 30, 2022

(expressed in millions of U.S. dollars, except ratios)

			Reinsurance						Insurance & Services						Core						Eliminations (2)						Corporate						Segment Measure Reclass						Total
Gross premiums written			$	378.3					$	433.9					$	812.2					$	—					$	0.4					$	—					$	812.6
Net premiums written			321.5						301.4						622.9						—						0.1						—						623.0
Net premiums earned			319.5						244.3						563.8						—						5.0						—						568.8
Loss and loss adjustment expenses incurred, net			204.7						154.8						359.5						(1.1)						1.9						—						360.3
Acquisition costs, net			86.3						63.9						150.2						(26.8)						0.2						—						123.6
Other underwriting expenses			28.7						15.8						44.5						—						1.6						—						46.1
Underwriting income (loss)			(0.2)						9.8						9.6						27.9						1.3						—						38.8
Services revenues			—						56.6						56.6						(36.7)						—						(19.9)						—
Services expenses			—						44.8						44.8						—						—						(44.8)						—
Net services fee income			—						11.8						11.8						(36.7)						—						24.9						—
Services noncontrolling income			—						(0.7)						(0.7)						—						—						0.7						—
Net investment losses from Strategic Investments			—						(0.5)						(0.5)						—						—						0.5						—
Net services income			—						10.6						10.6						(36.7)						—						26.1						—
Segment income (loss)			(0.2)						20.4						20.2						(8.8)						1.3						26.1						38.8
Net realized and unrealized investment losses																											(97.9)						(0.5)						(98.4)
Net realized and unrealized investment losses from related party investment funds																											(60.5)						—						(60.5)
Net investment income																											17.4						—						17.4
Other revenues																											25.9						19.9						45.8
Net corporate and other expenses																											(27.2)						(44.8)						(72.0)
Intangible asset amortization																											(2.0)						—						(2.0)
Interest expense																											(9.4)						—						(9.4)
Foreign exchange gains																											56.5						—						56.5
Income (loss) before income tax benefit			$	(0.2)					$	20.4					20.2						(8.8)						(95.9)						0.7						(83.8)
Income tax benefit															—						—						27.7						—						27.7
Net income (loss)															20.2						(8.8)						(68.2)						0.7						(56.1)
Net income attributable to noncontrolling interest															—						—						—						(0.7)						(0.7)
Net income (loss) available to SiriusPoint															$	20.2					$	(8.8)					$	(68.2)					$	—					$	(56.8)
Underwriting Ratios: (1)
Loss ratio			64.1		%				63.4		%				63.8		%																						63.3		%
Acquisition cost ratio			27.0		%				26.2		%				26.6		%																						21.7		%
Other underwriting expenses ratio			9.0		%				6.5		%				7.9		%																						8.1		%
Combined ratio			100.1		%				96.1		%				98.3		%																						93.1		%

(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.

Page 9 of 19                             

---

SiriusPoint Ltd.

Segment Reporting - Six months ended June 30, 2023

(expressed in millions of U.S. dollars, except ratios)

			Reinsurance						Insurance & Services						Core						Eliminations (2)						Corporate						Segment Measure Reclass						Total
Gross premiums written			$	783.3					$	1,126.7					$	1,910.0					$	—					$	87.6					$	—					$	1,997.6
Net premiums written			652.3						744.2						1,396.5						—						65.4						—						1,461.9
Net premiums earned			580.2						630.8						1,211.0						—						88.3						—						1,299.3
Loss and loss adjustment expenses incurred, net			252.6						400.2						652.8						(2.8)						24.1						—						674.1
Acquisition costs, net			128.4						155.7						284.1						(68.4)						30.2						—						245.9
Other underwriting expenses			40.2						44.8						85.0						—						10.5						—						95.5
Underwriting income			159.0						30.1						189.1						71.2						23.5						—						283.8
Services revenues			(2.6)						125.8						123.2						(71.3)						—						(51.9)						—
Services expenses			—						95.5						95.5						—						—						(95.5)						—
Net services fee income (loss)			(2.6)						30.3						27.7						(71.3)						—						43.6						—
Services noncontrolling income			—						(3.3)						(3.3)						—						—						3.3						—
Net investment losses from Strategic Investments			—						(8.0)						(8.0)						—						—						8.0						—
Net services income (loss)			(2.6)						19.0						16.4						(71.3)						—						54.9						—
Segment income			156.4						49.1						205.5						(0.1)						23.5						54.9						283.8
Net realized and unrealized investment gains (losses)																											17.5						(8.0)						9.5
Net realized and unrealized investment losses from related party investment funds																											(0.1)						—						(0.1)
Net investment income																											130.2						—						130.2
Other revenues																											(37.8)						51.9						14.1
Net corporate and other expenses																											(34.8)						(95.5)						(130.3)
Intangible asset amortization																											(5.3)						—						(5.3)
Interest expense																											(24.5)						—						(24.5)
Foreign exchange losses																											(17.5)						—						(17.5)
Income before income tax expense			$	156.4					$	49.1					205.5						(0.1)						51.2						3.3						259.9
Income tax expense															—						—						(42.6)						—						(42.6)
Net income															205.5						(0.1)						8.6						3.3						217.3
Net income attributable to noncontrolling interests															—						—						(1.1)						(3.3)						(4.4)
Net income available to SiriusPoint															$	205.5					$	(0.1)					$	7.5					$	—					$	212.9
Underwriting Ratios: (1)
Loss ratio			43.5		%				63.4		%				53.9		%																						51.9		%
Acquisition cost ratio			22.1		%				24.7		%				23.5		%																						18.9		%
Other underwriting expenses ratio			6.9		%				7.1		%				7.0		%																						7.4		%
Combined ratio			72.5		%				95.2		%				84.4		%																						78.2		%

(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.

Page 10 of 19                             

---

SiriusPoint Ltd.

Segment Reporting - Six months ended June 30, 2022

(expressed in millions of U.S. dollars, except ratios)

			Reinsurance						Insurance & Services						Core						Eliminations (2)						Corporate						Segment Measure Reclass						Total
Gross premiums written			$	902.5					$	917.4					$	1,819.9					$	—					$	2.4					$	—					$	1,822.3
Net premiums written			696.4						638.9						1,335.3						—						1.6						—						1,336.9
Net premiums earned			627.1						457.1						1,084.2						—						13.9						—						1,098.1
Loss and loss adjustment expenses incurred, net			399.2						288.8						688.0						(2.3)						14.7						—						700.4
Acquisition costs, net			166.2						117.4						283.6						(52.4)						0.9						—						232.1
Other underwriting expenses			58.8						31.5						90.3						—						3.0						—						93.3
Underwriting income (loss)			2.9						19.4						22.3						54.7						(4.7)						—						72.3
Services revenues			—						113.4						113.4						(67.5)						—						(45.9)						—
Services expenses			—						88.1						88.1						—						—						(88.1)						—
Net services fee income			—						25.3						25.3						(67.5)						—						42.2						—
Services noncontrolling loss			—						0.1						0.1						—						—						(0.1)						—
Net investment gains (losses) from Strategic Investments			—						(0.8)						(0.8)						—						—						0.8						—
Net services income			—						24.6						24.6						(67.5)						—						42.9						—
Segment income (loss)			2.9						44.0						46.9						(12.8)						(4.7)						42.9						72.3
Net realized and unrealized investment losses																											(179.5)						(0.8)						(180.3)
Net realized and unrealized investment losses from related party investment funds																											(191.5)						—						(191.5)
Net investment income																											25.2						—						25.2
Other revenues																											37.1						45.9						83.0
Net corporate and other expenses																											(61.3)						(88.1)						(149.4)
Intangible asset amortization																											(3.9)						—						(3.9)
Interest expense																											(18.7)						—						(18.7)
Foreign exchange gains																											75.9						—						75.9
Income (loss) before income tax expense			$	2.9					$	44.0					46.9						(12.8)						(321.4)						(0.1)						(287.4)
Income tax benefit															—						—						18.0						—						18.0
Net income (loss)															46.9						(12.8)						(303.4)						(0.1)						(269.4)
Net loss attributable to noncontrolling interest															—						—						(0.5)						0.1						(0.4)
Net income (loss) available to SiriusPoint															$	46.9					$	(12.8)					$	(303.9)					$	—					$	(269.8)
Underwriting Ratios: (1)
Loss ratio			63.7		%				63.2		%				63.5		%																						63.8		%
Acquisition cost ratio			26.5		%				25.7		%				26.2		%																						21.1		%
Other underwriting expenses ratio			9.4		%				6.9		%				8.3		%																						8.5		%
Combined ratio			99.6		%				95.8		%				98.0		%																						93.4		%

(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.

Page 11 of 19                             

---

SiriusPoint Ltd.

Consolidated Results - by Quarter

(expressed in millions of U.S. dollars, except ratios)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Revenues
Gross premiums written						$	887.1					$	1,110.5					$	743.7					$	843.8					$	812.6
Net premiums written						670.2						791.7						577.9						634.4						623.0
Net premiums earned						703.8						595.5						607.4						612.6						568.8
Expenses
Loss and loss adjustment expenses incurred, net						407.0						267.1						390.1						497.9						360.3
Acquisition costs, net						126.2						119.7						113.0						116.8						123.6
Other underwriting expenses						43.3						52.2						46.4						44.8						46.1
Underwriting income (loss)						$	127.3					$	156.5					$	57.9					$	(46.9)					$	38.8
Underwriting Ratios (1):
Loss ratio						57.8		%				44.9		%				64.2		%				81.3		%				63.3		%
Acquisition cost ratio						17.9		%				20.1		%				18.6		%				19.1		%				21.7		%
Other underwriting expenses ratio						6.2		%				8.8		%				7.6		%				7.3		%				8.1		%
Combined ratio						81.9		%				73.8		%				90.4		%				107.7		%				93.1		%
Catastrophe losses, net of reinsurance and reinstatement premiums						$	—					$	12.9					$	0.2					$	114.6					$	16.2
Russia/Ukraine losses						—						—						(0.7)						(0.3)						(0.1)
Favorable prior year loss reserve development						$	(33.0)					$	(105.4)					$	(4.1)					$	(5.3)					$	(6.4)

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.

Page 12 of 19                             

---

SiriusPoint Ltd.

Core Results - by Quarter (1)

(expressed in millions of U.S. dollars, except ratios)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Revenues
Gross premiums written						$	849.8					$	1,060.2					$	742.4					$	843.3					$	812.2
Net premiums written						632.9						763.6						576.5						633.8						622.9
Net premiums earned						660.3						550.7						605.8						609.9						563.8
Expenses
Loss and loss adjustment expenses incurred, net						394.7						258.1						382.5						504.1						359.5
Acquisition costs, net						146.4						137.7						149.1						150.8						150.2
Other underwriting expenses						37.5						47.5						43.0						43.3						44.5
Underwriting income (loss)						81.7						107.4						31.2						(88.3)						9.6
Services revenues						59.4						63.8						46.2						55.9						56.6
Services expenses						50.0						45.5						43.9						47.2						44.8
Net services fee income						9.4						18.3						2.3						8.7						11.8
Services noncontrolling (income) loss						(1.7)						(1.6)						0.5						0.5						(0.7)
Net investment gains (losses) from Strategic Investments						(4.1)						(3.9)						(9.0)						3.7						(0.5)
Net services income (loss)						3.6						12.8						(6.2)						12.9						10.6
Segment income (loss)						$	85.3					$	120.2					$	25.0					$	(75.4)					$	20.2
Underwriting Ratios (2):
Loss ratio						59.8		%				46.9		%				63.1		%				82.7		%				63.8		%
Acquisition cost ratio						22.2		%				25.0		%				24.6		%				24.7		%				26.6		%
Other underwriting expenses ratio						5.7		%				8.6		%				7.1		%				7.1		%				7.9		%
Combined ratio						87.7		%				80.5		%				94.8		%				114.5		%				98.3		%
Accident year loss ratio						63.6		%				63.6		%				64.7		%				82.2		%				64.0		%
Accident year combined ratio						91.4		%				97.2		%				96.4		%				114.1		%				98.6		%
Attritional loss ratio						63.6		%				62.3		%				64.7		%				63.4		%				61.2		%
Catastrophe losses, net of reinsurance and reinstatement premiums						$	—					$	7.0					$	0.2					$	114.6					$	16.2
Russia/Ukraine losses						—						—						(0.7)						(0.3)						(0.1)
(Favorable) adverse prior year loss reserve development						$	(25.2)					$	(91.9)					$	(9.6)					$	2.6					$	(1.5)

(1)Collectively, the sum of our two segments, Reinsurance and Insurance & Services, constitute our "Core" results. Core underwriting income, Core net services income, Core income, Core combined ratio, accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. We believe it is useful to review Core results as it better reflects how management views the business and reflects our decision to exit the runoff business. The sum of Core results and Corporate results are equal to the consolidated results of operations.

(2)Underwriting ratios are calculated by dividing the related expense by net premiums earned. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount.

Page 13 of 19                             

---

SiriusPoint Ltd.

Reinsurance Segment - by Quarter

(expressed in millions of U.S. dollars, except ratios)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Revenues
Gross premiums written						$	387.1					$	396.2					$	300.5					$	318.4					$	378.3
Net premiums written						341.3						311.0						236.1						267.1						321.5
Net premiums earned						320.7						259.5						281.5						304.5						319.5
Expenses
Loss and loss adjustment expenses incurred, net						167.0						85.6						170.4						286.3						204.7
Acquisition costs, net						62.4						66.0						74.3						69.8						86.3
Other underwriting expenses						12.0						28.2						27.0						28.0						28.7
Underwriting income (loss)						79.3						79.7						9.8						(79.6)						(0.2)
Services revenues						(2.8)						0.2						(3.6)						3.4						—
Net services fee income (loss)						(2.8)						0.2						(3.6)						3.4						—
Net investment gains (losses) from Strategic Investments						—						—						(4.2)						0.3						—
Net services income (loss)						(2.8)						0.2						(7.8)						3.7						—
Segment income (loss)						$	76.5					$	79.9					$	2.0					$	(75.9)					$	(0.2)
Underwriting Ratios (1):
Loss ratio						52.1		%				33.0		%				60.5		%				94.0		%				64.1		%
Acquisition cost ratio						19.5		%				25.4		%				26.4		%				22.9		%				27.0		%
Other underwriting expenses ratio						3.7		%				10.9		%				9.6		%				9.2		%				9.0		%
Combined ratio						75.3		%				69.3		%				96.5		%				126.1		%				100.1		%
Accident year loss ratio						60.1		%				61.7		%				59.5		%				99.4		%				62.6		%
Accident year combined ratio						83.3		%				98.0		%				95.5		%				131.5		%				98.6		%
Attritional loss ratio						60.1		%				59.4		%				60.0		%				61.7		%				57.6		%
Catastrophe losses, net of reinsurance and reinstatement premiums						$	—					$	6.0					$	(1.4)					$	114.6					$	16.2
Russia/Ukraine losses						—						—						(0.7)						(0.3)						(0.1)
(Favorable) adverse prior year loss reserve development						$	(25.9)					$	(74.6)					$	3.0					$	(16.3)					$	4.6

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned. Accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount.

Page 14 of 19                             

---

SiriusPoint Ltd.

Insurance & Services Segment - by Quarter

(expressed in millions of U.S. dollars, except ratios)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Revenues
Gross premiums written						$	462.7					$	664.0					$	441.9					$	524.9					$	433.9
Net premiums written						291.6						452.6						340.4						366.7						301.4
Net premiums earned						339.6						291.2						324.3						305.4						244.3
Expenses
Loss and loss adjustment expenses incurred, net						227.7						172.5						212.1						217.8						154.8
Acquisition costs, net						84.0						71.7						74.8						81.0						63.9
Other underwriting expenses						25.5						19.3						16.0						15.3						15.8
Underwriting income (loss)						2.4						27.7						21.4						(8.7)						9.8
Services revenues						62.2						63.6						49.8						52.5						56.6
Services expenses						50.0						45.5						43.9						47.2						44.8
Net services fee income						12.2						18.1						5.9						5.3						11.8
Services noncontrolling (income) loss						(1.7)						(1.6)						0.5						0.5						(0.7)
Net investment gains (losses) from Strategic Investments						(4.1)						(3.9)						(4.8)						3.4						(0.5)
Net services income						6.4						12.6						1.6						9.2						10.6
Segment income						$	8.8					$	40.3					$	23.0					$	0.5					$	20.4
Underwriting Ratios (1):
Loss ratio						67.0		%				59.2		%				65.4		%				71.3		%				63.4		%
Acquisition cost ratio						24.7		%				24.6		%				23.1		%				26.5		%				26.2		%
Other underwriting expenses ratio						7.5		%				6.6		%				4.9		%				5.0		%				6.5		%
Combined ratio						99.2		%				90.4		%				93.4		%				102.8		%				96.1		%
Accident year loss ratio						66.8		%				65.2		%				69.3		%				65.1		%				65.9		%
Accident year combined ratio						99.1		%				96.4		%				97.3		%				96.7		%				98.5		%
Attritional loss ratio						66.8		%				64.8		%				68.8		%				65.1		%				65.9		%
Catastrophe losses, net of reinsurance and reinstatement premiums						$	—					$	1.0					$	1.6					$	—					$	—
(Favorable) adverse prior year loss reserve development						$	0.7					$	(17.3)					$	(12.6)					$	18.9					$	(6.1)

(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned. Accident year loss ratio, accident year combined ratio and attritional loss ratio are non-GAAP financial measures. Accident year loss ratio and accident year combined ratio exclude prior year loss reserve development to present the impact of current accident year net loss and loss adjustment expenses on the loss ratio and combined ratio, respectively. Attritional loss ratio excludes catastrophe losses from the accident year loss ratio as they are not predictable as to timing and amount.

Page 15 of 19                             

---

SiriusPoint Ltd.

Investments - by Quarter

(expressed in millions of U.S. dollars)

																					June 30, 2023												March 31, 2023												December 31, 2022												September 30, 2022												June 30, 2022
																					Fair Value						%						Fair Value						%						Fair Value						%						Fair Value						%						Fair Value						%
Asset-backed securities																					$	704.8					11.8		%				$	414.4					7.2		%				$	230.7					4.1		%				$	133.9					2.3		%				$	125.1					2.5		%
Residential mortgage-backed securities																					684.4						11.5		%				417.8						7.3		%				340.7						6.0		%				212.8						3.7		%				112.0						2.2		%
Commercial mortgage-backed securities																					133.7						2.2		%				92.8						1.6		%				61.2						1.1		%				18.6						0.3		%				14.3						0.3		%
Corporate debt securities																					1,483.5						24.9		%				943.4						16.4		%				415.7						7.4		%				386.0						6.7		%				157.7						3.1		%
U.S. government and government agency																					1,083.5						18.2		%				1,637.1						28.4		%				1,550.6						27.4		%				552.3						9.6		%				291.5						5.8		%
Non-U.S. government and government agency																					82.2						1.4		%				60.4						1.0		%				36.6						0.6		%				20.4						0.4		%				14.9						0.3		%
Total debt securities, available for sale																					4,172.1						70.0		%				3,565.9						61.9		%				2,635.5						46.6		%				1,324.0						23.0		%				715.5						14.2		%
Asset-backed securities																					358.8						6.0		%				443.5						7.7		%				553.7						9.8		%				642.0						11.2		%				672.5						13.3		%
Residential mortgage-backed securities																					80.5						1.4		%				132.4						2.3		%				133.6						2.4		%				141.2						2.5		%				292.5						5.8		%
Commercial mortgage-backed securities																					72.7						1.2		%				111.2						1.9		%				113.4						2.0		%				117.0						2.0		%				126.3						2.5		%
Corporate debt securities																					101.4						1.7		%				294.4						5.1		%				363.5						6.4		%				404.4						7.0		%				667.2						13.2		%
U.S. government and government agency																					108.9						1.8		%				91.2						1.6		%				270.4						4.8		%				297.1						5.2		%				323.9						6.4		%
Non-U.S. government and government agency																					30.9						0.5		%				44.3						0.9		%				88.2						1.6		%				92.2						1.6		%				124.9						2.4		%
Preferred stocks																					—						—		%				3.2						—		%				3.2						—		%				3.2						0.1		%				3.2						0.1		%
Total debt securities, trading																					753.2						12.6		%				1,120.2						19.5		%				1,526.0						27.0		%				1,697.1						29.6		%				2,210.5						43.7		%
Total equity securities																					1.6						—		%				1.6						—		%				1.6						—		%				1.4						—		%				1.6						—		%
Short-term investments																					559.2						9.6		%				594.0						10.3		%				984.6						17.4		%				1,991.6						34.7		%				1,378.0						27.2		%
Other long-term investments																					235.0						3.9		%				227.8						4.0		%				227.3						4.0		%				196.8						3.4		%				173.5						3.4		%
Cost and equity method investments																					88.2						1.5		%				95.0						1.6		%				104.8						1.9		%				128.0						2.3		%				144.6						2.9		%
Investments in funds valued at net asset value																					143.5						2.4		%				157.0						2.7		%				173.9						3.1		%				399.1						7.0		%				436.4						8.6		%
Total investments																					$	5,952.8					100.0		%				$	5,761.5					100.0		%				$	5,653.7					100.0		%				$	5,738.0					100.0		%				$	5,060.1					100.0		%

Page 16 of 19                             

---

SiriusPoint Ltd.

Earnings (loss) per Share - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding						162,027,831						160,905,860						160,459,088						160,321,270						160,258,883
Dilutive effect of options, warrants, restricted share awards, restricted share units, and Series A preference shares(1)						4,681,101						3,225,086						—						—						—
Diluted number of common shares outstanding						166,708,932						164,130,946						160,459,088						160,321,270						160,258,883
Basic income (loss) per common share:
Net income (loss) allocated to SiriusPoint common shareholders						$	61.5					$	128.1					$	(26.6)					$	(98.4)					$	(60.8)
Basic earnings (loss) per share available to SiriusPoint common shareholders (2)						$	0.38					$	0.80					$	(0.17)					$	(0.61)					$	(0.38)
Diluted earnings (loss) per common share:
Net income (loss) allocated to SiriusPoint common shareholders						$	61.5					$	128.1					$	(26.6)					$	(98.4)					$	(60.8)
Diluted earnings (loss) per share available to SiriusPoint common shareholders (2)						$	0.37					$	0.78					$	(0.17)					$	(0.61)					$	(0.38)

(1)For the quarters ended December 31, 2022, September 30, 2022 and June 30, 2022, there was no dilution as a result of the net loss allocated to SiriusPoint common shareholders in the quarter.

(2)Basic income (loss) per share is based on the weighted average number of common shares and participating securities outstanding during the period. The Company treats certain of its unvested restricted shares and preference shares as participating securities. The weighted average number of common shares excludes any dilutive effect of outstanding warrants, options or restricted share awards and units. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding and includes any dilutive effects of warrants, options, restricted share awards and units, and is determined using the treasury stock method. In the event of a net loss, all participating securities, outstanding warrants, options and restricted shares and units are excluded from both basic and diluted loss per share since their inclusion would be anti-dilutive.

Page 17 of 19                             

---

SiriusPoint Ltd.

Annualized Return on Average Common Shareholders’ Equity - by Quarter

(expressed in millions of U.S. dollars, except share and per share data and ratios)

						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Net income (loss) available to SiriusPoint common shareholders						$	66.3					$	138.6					$	(26.6)					$	(98.4)					$	(60.8)
Common shareholders’ equity attributable to SiriusPoint common shareholders - beginning of period						2,036.6						1,874.7						1,884.5						2,023.3						2,088.2
Common shareholders’ equity attributable to SiriusPoint common shareholders - end of period						2,054.8						2,036.6						1,874.7						1,884.5						2,023.3
Average common shareholders’ equity attributable to SiriusPoint common shareholders						$	2,045.7					$	1,955.7					$	1,879.6					$	1,953.9					$	2,055.8
Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders (1)						13.0		%				28.3		%				(5.7)		%				(20.1)		%				(11.8)		%

(1)Annualized return on average common shareholders’ equity attributable to SiriusPoint common shareholders is calculated by dividing annualized net income (loss) available to SiriusPoint common shareholders for the period by the average common shareholders’ equity determined using the common shareholders’ equity balances at the beginning and end of the period.

Page 18 of 19                             

---

SiriusPoint Ltd.

Book Value per Share - by Quarter

(expressed in millions of U.S. dollars, except share and per share data)

			June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022
Common shareholders’ equity attributable to SiriusPoint common shareholders			$	2,054.8					$	2,036.6					$	1,874.7					$	1,884.5					$	2,023.3
Intangible assets			(158.5)						(161.9)						(163.8)						(165.9)						(168.0)
Tangible diluted common shareholders' equity attributable to SiriusPoint common shareholders			$	1,896.3					$	1,874.7					$	1,710.9					$	1,718.6					$	1,855.3
Common shares outstanding			163,200,630						162,367,173						162,177,653						162,312,938						162,328,831
Effect of dilutive stock options, restricted share units, warrants and Series A preference shares			3,964,586						3,023,030						3,492,795						1,963,861						1,790,110
Book value per diluted common share denominator			167,165,216						165,390,203						165,670,448						164,276,799						164,118,941
Unvested restricted shares			(649,528)						(1,134,473)						(1,708,608)						(1,890,932)						(2,051,368)
Tangible book value per diluted common share denominator			166,515,688						164,255,730						163,961,840						162,385,867						162,067,573
Book value per common share			$	12.59					$	12.54					$	11.56					$	11.61					$	12.46
Book value per diluted common share			$	12.29					$	12.31					$	11.32					$	11.47					$	12.33
Tangible book value per diluted common share (1)			$	11.39					$	11.41					$	10.43					$	10.58					$	11.45

(1)Tangible book value per diluted common share, as presented, is a non-GAAP financial measure and the most comparable U.S. GAAP measure is book value per common share. Tangible book value per diluted common share excludes the total number of unvested restricted shares, at period end, and intangible assets. While restricted shares are outstanding, they are excluded because they are unvested. Further, management believes that effects of intangible assets are not indicative of underlying underwriting results or trends and make book value comparisons to less acquisitive peer companies less meaningful. The tangible book value per diluted common share is also useful because it provides a more accurate measure of the realizable value of shareholder returns, excluding intangible assets.

Page 19 of 19