SiriusPoint (SPNT) FY2025 results: revenue $3.2 billion, up 23.1% on the year
SiriusPoint Ltd. (SPNT) reported revenue of $3.2 billion for fiscal 2025, the year ended 31 December 2025, up 23.1% on the year before. Net income was $460 million, up 129.9%, and diluted earnings per share $3.64. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2026.
Revenue
$3.2 billion
+23.1% on the year
FY2018FY2025
Operating margin
16.9%
9.0% a year earlier
FY2018FY2025
Net income
$460 million
+129.9% on the year
FY2018FY2025
Diluted EPS
$3.64
+250.0% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 5 new.
Full-year operating earnings rose sharply: Full-year operating earnings per share rose 49% to $2.55, with net income available to common shareholders of $444 million, or $3.64 per diluted share. Operating ROE was 16.2%.
Quarter net income lifted by gains: Fourth-quarter net income available to common shareholders was $240 million, or $1.97 per diluted share, with operating EPS of $0.70. Annualized ROE was 44.9%, reflecting $222.4 million of gains on sale or deconsolidation of MGAs.
Insurance & Services drove premium growth: Insurance & Services gross written premium rose 23.5% in the quarter to $556.0 million, driven by Surety in Other Specialties, A&H growth and London MGA programs. Full-year gross written premium rose 25.7%.
Core combined ratio rose in quarter: Fourth-quarter Core combined ratio was 92.9%, up from 90.2%. Full-year Core combined ratio was 91.7%, up from 91.0%.
Prior-year reserve releases shrank: Favorable prior-year loss reserve development was $15.0 million in the quarter, versus $58.1 million a year earlier, and $72.2 million for the full year versus $100.7 million.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
102
74.7
581
+37.1%
Cash from investing
424
344
-332
+23.5%
Cash from financing
-519
-625
-61.5
Share-based compensation
35.9
20.7
21.4
+73.4%
Buybacks
491
300
0.0
+63.8%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
122m
169m
170m
-28.2%
Shares outstanding at period end
117m
116m
168m
+0.5%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
2,470
1,937
2,514
+27.5%
Non-controlling interest
1.1
1.4
16.7
-21.4%
Debt
689
639
786
+7.7%
Other liabilities
9,410
9,947
9,555
-5.4%
Total liabilities and equity
12,570
12,525
12,872
+0.4%
Goodwill
0.0
n/a
n/a
Intangible assets
121
141
153
-13.9%
Securities held for sale or to maturity
5,169
5,131
4,755
+0.7%
Cash and equivalents
731
682
969
+7.2%
Other assets
6,549
6,571
6,994
-0.3%
Total assets
12,570
12,525
12,872
+0.4%
10-K for the year ended 31 December 2025, filed 24 February 2026: the filing.