Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of the retrospective impact from the change in accounting policy

The following tables provide a summary of the retrospective impact from the change in accounting policy on the Company’s consolidated financial statements:

Consolidated balance sheets


	December 31, 2020
	As previously reported		Adjustment		As adjusted
Insurance and reinsurance balances receivable, net	$	559.4	$	(117.5)	$	441.9
Deferred acquisition costs and value of business acquired, net	134.3		(65.7)		68.6
Unearned premiums ceded	27.7		(7.2)		20.5
Total assets	3,725.6		(190.4)		3,535.2

Reinsurance balances payable	80.4		(2.3)		78.1
Unearned premium reserves	472.9		(188.1)		284.8
Total liabilities	2,160.3		(190.4)		1,969.9

Shareholders’ equity attributable to SiriusPoint shareholders	$	1,563.9	$	—	$	1,563.9

Consolidated statements of income


	Year ended December 31, 2020			Year ended December 31, 2019
		As previously reported		Adjustment		Restated amount		As previously reported		Adjustment		Restated amount
Gross premiums written		$	588.0	$	0.5	$	588.5	$	631.8	$	36.6	$	668.4
Gross premiums ceded		(39.7)		(6.6)		(46.3)		(9.3)		(2.1)		(11.4)
Net premiums written		548.3		(6.1)		542.2		622.5		34.5		657.0
Change in net unearned premium reserves		62.5		6.1		68.6		77.6		(34.5)		43.1
Net premiums earned		$	610.8	$	—	$	610.8	$	700.1	$	—	$	700.1

Net income available to SiriusPoint common shareholders		$	143.5	$	—	$	143.5	$	200.6	$	—	$	200.6

Consolidated statement of cash flows


	Year ended December 31, 2020						Year ended December 31, 2019
	As previously reported		Adjustment		As adjusted		As previously reported		Adjustment		As adjusted
Insurance and reinsurance balances receivable, net	$	38.8	$	(0.2)	$	38.6	$	30.0	$	(9.6)	$	20.4
Deferred acquisition costs and value of business acquired, net	20.4		3.2		23.6		49.1		(24.3)		24.8
Unearned premiums ceded	(10.7)		(6.6)		(17.3)		0.6		(2.1)		(1.5)
Unearned premium reserves	(51.8)		0.5		(51.3)		(78.1)		36.5		(41.6)
Reinsurance balances payable	(1.3)		3.1		1.8		12.0		(0.5)		11.5
Net cash provided by operating activities	$	73.3	$	—	$	73.3	$	141.1	$	—	$	141.1