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Segment reporting (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of operating segment results
The following is a summary of the Company’s operating segment results for the years ended December 31, 2021, 2020 and 2019:
2021
ReinsuranceInsurance & ServicesCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$1,350.4 $897.9 $2,248.3 $— $(11.8)$— $2,236.5 
Net premiums written 1,124.9 652.8 1,777.7 — (43.5)— 1,734.2 
Net premiums earned 1,210.9 522.8 1,733.7 — (16.7)— 1,717.0 
Loss and loss adjustment expenses incurred, net 999.6 320.6 1,320.2 (2.6)8.9 — 1,326.5 
Acquisition costs, net302.7 149.7 452.4 (67.6)3.0 — 387.8 
Other underwriting expenses 105.5 29.2 134.7 — 24.1 — 158.8 
Underwriting income (loss)(196.9)23.3 (173.6)70.2 (52.7)— (156.1)
Services revenue— 133.7 133.7 (82.6)— (51.1)— 
Services expenses— 120.5 120.5 — — (120.5)— 
Net services fee income— 13.2 13.2 (82.6)— 69.4 — 
Services noncontrolling loss— 2.3 2.3 — — (2.3)— 
Net investment gains (losses) from Strategic Investments at fair value0.3 (4.8)(4.5)— — 4.5 — 
Net services income0.3 10.7 11.0 (82.6)— 71.6 — 
Segment income (loss)(196.6)34.0 (162.6)(12.4)(52.7)71.6 (156.1)
Net realized and unrealized investment losses(12.4)(4.5)(16.9)
Net realized and unrealized investment gains from related party investment funds304.0 — 304.0 
Other net investment income25.4 — 25.4 
Other revenues100.1 51.1 151.2 
Net corporate and other expenses(146.1)(120.5)(266.6)
Intangible asset amortization(5.9)— (5.9)
Interest expense(34.0)— (34.0)
Foreign exchange gains44.0 — 44.0 
Income (loss) before income tax benefit$(196.6)$34.0 (162.6)(12.4)222.4 (2.3)45.1 
Income tax benefit— — 10.7 — 10.7 
Net income (loss)(162.6)(12.4)233.1 (2.3)55.8 
Net loss attributable to noncontrolling interests— — — 2.3 2.3 
Net income (loss) available to SiriusPoint$(162.6)$(12.4)$233.1 $— $58.1 
Underwriting Ratios: (1)
Loss ratio82.6 %61.3 %76.1 %77.3 %
Acquisition cost ratio25.0 %28.6 %26.1 %22.6 %
Other underwriting expenses ratio8.7 %5.6 %7.8 %9.2 %
Combined ratio
116.3 %95.5 %110.0 %109.1 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)Insurance and 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.
2020
ReinsuranceInsurance & ServicesCore
Eliminations (2)
CorporateSegment Measure ReclassTotal
Gross premiums written
$534.1 $25.5 $559.6 $— $28.9 $— $588.5 
Net premiums written497.3 16.0 513.3 — 28.9 — 542.2 
Net premiums earned575.6 7.1 582.7 — 28.1 — 610.8 
Loss and loss adjustment expenses incurred, net459.5 5.9 465.4 — (0.1)— 465.3 
Acquisition costs, net160.4 1.4 161.8 (0.1)25.4 — 187.1 
Other underwriting expenses24.0 0.2 24.2 — 5.9 — 30.1 
Underwriting loss(68.3)(0.4)(68.7)0.1 (3.1)— (71.7)
Services revenue— 1.7 1.7 (1.7)— — — 
Services expenses— 1.0 1.0 — — (1.0)— 
Net services fee income— 0.7 0.7 (1.7)— 1.0 — 
Services noncontrolling income— (0.3)(0.3)— — 0.3 — 
Net services income— 0.4 0.4 (1.7)— 1.3 — 
Segment loss(68.3)— (68.3)(1.6)(3.1)1.3 (71.7)
Net realized and unrealized investment gains69.2 — 69.2 
Net realized and unrealized investment gains from related party investment funds195.0 — 195.0 
Other net investment income14.7 — 14.7 
Net corporate and other expenses(40.9)(1.0)(41.9)
Interest expense(8.2)— (8.2)
Foreign exchange losses(5.2)— (5.2)
Income (loss) before income tax expense$(68.3)$— (68.3)(1.6)221.5 0.3 151.9 
Income tax expense— — (8.1)— (8.1)
Net income (loss)(68.3)(1.6)213.4 0.3 143.8 
Net income attributable to noncontrolling interests— — — (0.3)(0.3)
Net income (loss) available to SiriusPoint$(68.3)$(1.6)$213.4 $— $143.5 
Underwriting Ratios: (1)
Loss ratio79.8 %83.1 %79.9 %76.2 %
Acquisition cost ratio27.9 %19.7 %27.8 %30.6 %
Other underwriting expenses ratio4.2 %2.8 %4.2 %4.9 %
Combined ratio111.9 %105.6 %111.9 %111.7 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)Insurance and 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.
2019
Reinsurance
Insurance & Services (2)
CoreCorporateTotal
Gross premiums written$575.3 $5.5 $580.8 $87.6 $668.4 
Net premiums written563.9 5.5 569.4 87.6 657.0 
Net premiums earned606.8 4.7 611.5 88.6 700.1 
Loss and loss adjustment expenses incurred, net404.3 3.9 408.2 (4.7)403.5 
Acquisition costs, net204.2 0.4 204.6 91.0 295.6 
Other underwriting expenses24.9 0.2 25.1 9.1 34.2 
Underwriting loss(26.6)0.2 (26.4)(6.8)(33.2)
Net realized and unrealized investment gains15.3 15.3 
Net realized and unrealized investment gains from related party investment funds249.6 249.6 
Other net investment income17.6 17.6 
Net corporate and other expenses(36.2)(36.2)
Interest expense(8.2)(8.2)
Foreign exchange gains(3.6)(3.6)
Income (loss) before income tax expense$(26.6)$0.2 (26.4)227.7 201.3 
Income tax expense— (0.7)(0.7)
Net income (loss) available to SiriusPoint$(26.4)$227.0 $200.6 
Underwriting Ratios: (1)
Loss ratio66.6 %83.0 %66.8 %57.6 %
Acquisition cost ratio33.7 %8.5 %33.5 %42.2 %
Other underwriting expenses ratio4.1 %4.3 %4.1 %4.9 %
Combined ratio104.4 %95.8 %104.4 %104.7 %
(1)Underwriting ratios are calculated by dividing the related expense by net premiums earned.
(2)There were no Insurance & Services MGAs during the year ended December 31, 2019.
Schedule of net premiums written by client location and underwriting location and by reportable segment
The following tables provide a breakdown of net premiums written by client location and underwriting location by reportable segment for the years ended December 31, 2021, 2020 and 2019:
2021
ReinsuranceInsurance & ServicesCorporateTotal
Net written premiums by client location:
United States and Canada$579.1 $560.3 $1.6 $1,141.0 
Europe309.5 36.4 (45.8)300.1 
Bermuda, the Caribbean and Latin America114.3 13.7 — 128.0 
Asia and Other122.0 42.4 0.7 165.1 
Total net written premiums by client location$1,124.9 $652.8 $(43.5)$1,734.2 
Net written premiums by underwriting location:
United States and Canada$447.1 $408.9 $1.6 $857.6 
Europe379.8 93.0 (17.5)455.3 
Bermuda, the Caribbean and Latin America246.1 150.9 (27.9)369.1 
Asia and Other51.9 — 0.3 52.2 
Total net written premiums by underwriting location$1,124.9 $652.8 $(43.5)$1,734.2 
2020
ReinsuranceInsurance & ServicesCorporateTotal
Net written premiums by client location:
United States and Canada$300.1 $13.8 $— $313.9 
Europe83.7 1.9 28.9 114.5 
Bermuda, the Caribbean and Latin America108.6 — — 108.6 
Asia and Other4.9 0.3 — 5.2 
Total net written premiums by client location$497.3 $16.0 $28.9 $542.2 
Net written premiums by underwriting location:
United States and Canada$236.3 $4.9 $— $241.2 
Bermuda, the Caribbean and Latin America261.0 11.1 28.9 301.0 
Total net written premiums by underwriting location$497.3 $16.0 $28.9 $542.2 
2019
ReinsuranceInsurance & ServicesCorporateTotal
Net written premiums by client location:
United States and Canada$349.3 $5.3 $— $354.6 
Europe73.9 0.1 87.6 161.6 
Bermuda, the Caribbean and Latin America137.3 — — 137.3 
Asia and Other3.4 0.1 — 3.5 
Total net written premiums by client location$563.9 $5.5 $87.6 $657.0 
Net written premiums by underwriting location:
United States and Canada$267.0 $5.1 $— $272.1 
Bermuda, the Caribbean and Latin America296.9 0.4 87.6 384.9 
Total net written premiums by underwriting location$563.9 $5.5 $87.6 $657.0