Quarterly financial results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]


	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 income	6.6		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 revenues	29.3		33.2		31.8		56.9
Total revenues	398.0		732.6		561.5		488.6
Expenses
Loss and loss adjustment expenses incurred, net	351.4		577.3		250.9		146.9
Acquisition costs, net	106.3		106.9		105.6		69.0
Other underwriting expenses	38.2		53.3		46.5		20.8
Net corporate and other expenses	72.1		59.9		55.7		78.9
Intangible asset amortization	1.8		2.0		1.3		0.8
Interest expense	9.6		9.7		9.8		4.9
Foreign exchange (gains) losses	(27.5)		(16.1)		12.0		(12.4)
Total expenses	551.9		793.0		481.8		308.9
Income (loss) before income tax (expense) benefit	(153.9)		(60.4)		79.7		179.7
Income tax (expense) benefit	17.1		13.0		(9.6)		(9.8)
Net income (loss)	(136.8)		(47.4)		70.1		169.9
Net (income) loss attributable to noncontrolling interests	0.5		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
Basic	159,268,777		159,225,772		158,832,629		116,760,760
Diluted	159,268,777		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).


	Year ended		Nine months ended		Six months ended		Three 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 funds	304.0		401.2		198.8		153.2
Other net investment income	25.4		18.8		9.7		1.8

Total realized and unrealized investment gains and net investment income	312.5		463.7		263.9		186.5
Other revenues	151.2		121.9		88.7		56.9
Total revenues	2,180.7		1,782.7		1,050.1		488.6
Expenses
Loss and loss adjustment expenses incurred, net	1,326.5		975.1		397.8		146.9
Acquisition costs, net	387.8		281.5		174.6		69.0
Other underwriting expenses	158.8		120.6		67.3		20.8
Net corporate and other expenses	266.6		194.5		134.6		78.9
Intangible asset amortization	5.9		4.1		2.1		0.8
Interest expense	34.0		24.4		14.7		4.9
Foreign exchange gains	(44.0)		(16.5)		(0.4)		(12.4)
Total expenses	2,135.6		1,583.7		790.7		308.9
Income before income tax (expense) benefit	45.1		199.0		259.4		179.7
Income tax (expense) benefit	10.7		(6.4)		(19.4)		(9.8)
Net income	55.8		192.6		240.0		169.9
Net (income) loss attributable to noncontrolling interests	2.3		1.8		(1.6)		—
Net income available to SiriusPoint	58.1		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
Basic	148,667,770		145,095,270		137,912,915		116,760,760
Diluted	150,156,466		147,597,964		139,561,196		118,146,341