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Quarterly financial results (Unaudited)
 12 Months Ended
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]  
Quarterly financial results (Unaudited)
24. Quarterly financial results (UNAUDITED)
Three months ended
December 31,
2021
September 30,
2021 (2)
June 30,
2021 (2)
March 31,
2021 (2)
Revenues
revised (1)
Net premiums earned$519.9 $499.6 $452.3 $245.2 
Net realized and unrealized investment gains (losses)(60.6)(11.7)23.9 31.5 
Net realized and unrealized investment gains (losses) from related party investment funds(97.2)202.4 45.6 153.2 
Other net investment income6.6 9.1 7.9 1.8 
Total realized and unrealized investment gains (losses) and net investment income (loss)(151.2)199.8 77.4 186.5 
Other revenues29.3 33.2 31.8 56.9 
Total revenues398.0 732.6 561.5 488.6 
Expenses
Loss and loss adjustment expenses incurred, net351.4 577.3 250.9 146.9 
Acquisition costs, net106.3 106.9 105.6 69.0 
Other underwriting expenses38.2 53.3 46.5 20.8 
Net corporate and other expenses72.1 59.9 55.7 78.9 
Intangible asset amortization1.8 2.0 1.3 0.8 
Interest expense9.6 9.7 9.8 4.9 
Foreign exchange (gains) losses(27.5)(16.1)12.0 (12.4)
Total expenses551.9 793.0 481.8 308.9 
Income (loss) before income tax (expense) benefit(153.9)(60.4)79.7 179.7 
Income tax (expense) benefit17.1 13.0 (9.6)(9.8)
Net income (loss)(136.8)(47.4)70.1 169.9 
Net (income) loss attributable to noncontrolling interests0.5 3.4 (1.6)— 
Net income (loss) available to SiriusPoint(136.3)(44.0)68.5 169.9 
Dividends on Series B preference shares(4.0)(4.0)(4.0)(1.5)
Net income (loss) available to SiriusPoint common shareholders$(140.3)$(48.0)$64.5 $168.4 
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders$(0.88)$(0.30)$0.37 $1.37 
Diluted earnings (loss) per share available to SiriusPoint common shareholders$(0.88)$(0.34)$0.37 $1.35 
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic159,268,777 159,225,772 158,832,629 116,760,760 
Diluted159,268,777 160,240,888 160,894,216 118,146,341 
(1)Amounts were revised to correct the bargain purchase gain recorded in the first quarter of 2021.
(2)As a result of the acquisition of Sirius Group and the subsequent changes in strategy and new executive management team, the Company now reports on two operating segments effective as of the fourth quarter of 2021: Reinsurance and Insurance & Services. As a result of the re-segmentation, certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no impact on the previously reported total revenues, total expenses or net income (loss).
Revision of 2021 interim financial statements
In the fourth quarter of 2021, the Company identified an understatement of the bargain purchase gain recorded in the first quarter of 2021 related to the acquisition of Sirius Group which understated income before income tax expense and net income available to SiriusPoint common shareholders by $37.5 million. The previously reported bargain purchase gain amount of $12.9 million should have been $50.4 million. As part of the Company’s annual financial statement review, an
error was identified which understated the total identifiable net assets acquired. A bargain purchase gain was recognized as the total net assets acquired exceeded the purchase consideration.
Amounts for the three months ended March 31, 2021, the six months ended June 30, 2021 and nine months ended September 30, 2021 were revised to correct for the previously reported understatement of income. This revision had no impact on the previously reported total shareholders’ equity attributable to SiriusPoint shareholders.
Management assessed the materiality of the misstatement on the impacted 2021 interim financial statements in accordance with SEC Staff Accounting Bulletin Number 99, Materiality, as codified in ASC 250-10, Accounting Changes and Error Corrections. Management determined that the misstatement was not material to the financial statements of any such interim period.
Year endedNine months endedSix months endedThree months ended
December 31,
2021		September 30, 2021
June 30,
2021
March 31, 2021
Revenues
Net premiums earned$1,717.0 $1,197.1 $697.5 $245.2 
Net realized and unrealized investment gains (losses)(16.9)43.7 55.4 31.5 
Net realized and unrealized investment gains from related party investment funds304.0 401.2 198.8 153.2 
Other net investment income25.4 18.8 9.7 1.8 
Total realized and unrealized investment gains and net investment income312.5 463.7 263.9 186.5 
Other revenues151.2 121.9 88.7 56.9 
Total revenues2,180.7 1,782.7 1,050.1 488.6 
Expenses
Loss and loss adjustment expenses incurred, net1,326.5 975.1 397.8 146.9 
Acquisition costs, net387.8 281.5 174.6 69.0 
Other underwriting expenses158.8 120.6 67.3 20.8 
Net corporate and other expenses266.6 194.5 134.6 78.9 
Intangible asset amortization5.9 4.1 2.1 0.8 
Interest expense34.0 24.4 14.7 4.9 
Foreign exchange gains(44.0)(16.5)(0.4)(12.4)
Total expenses2,135.6 1,583.7 790.7 308.9 
Income before income tax (expense) benefit45.1 199.0 259.4 179.7 
Income tax (expense) benefit10.7 (6.4)(19.4)(9.8)
Net income55.8 192.6 240.0 169.9 
Net (income) loss attributable to noncontrolling interests2.3 1.8 (1.6)— 
Net income available to SiriusPoint58.1 194.4 238.4 169.9 
Dividends on Series B preference shares(13.5)(9.5)(5.5)(1.5)
Net income available to SiriusPoint common shareholders$44.6 $184.9 $232.9 $168.4 
Earnings per share available to SiriusPoint common shareholders
Basic earnings per share available to SiriusPoint common shareholders$0.28 $1.18 $1.57 $1.37 
Diluted earnings per share available to SiriusPoint common shareholders$0.27 $1.17 $1.55 $1.35 
Weighted average number of common shares used in the determination of earnings per share
Basic148,667,770 145,095,270 137,912,915 116,760,760 
Diluted150,156,466 147,597,964 139,561,196 118,146,341