NYSE$SPNT

Siriuspoint Ltd · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Net income available to common shareholders was reported as $64.5 million, or $0.37 per diluted common share. The combined ratio was 92.8% and the annualized return on average common equity was 10.6%.

SiriusPoint reported a net income of $64.5 million, or $0.37 per diluted common share, for the second quarter ended June 30, 2021. The company's combined ratio was 92.8%, and the annualized return on average common equity was 10.6%.

  • Net income of $64.5 million, or $0.37 per diluted common share
  • Tangible diluted book value per share increased $0.33, or 2.4%, from the first quarter of 2021 to $14.30
  • Combined ratio of 92.8% and net underwriting income of $33.3 million
  • Annualized return on average common equity of 10.6%

Headline financials

Total Revenue

$562M

Previous: $278M+102.0%
EPS (adj)

$0.37

Previous: $1.34-72.4%
Combined Ratio

92.8%

Previous: 98.3%-5.6%
Annualized ROE

10.6%

Previous: 10.1%+5.0%
Free Cash Flow

$68.5M

Previous: $124M-44.8%
Net Income

$68.5M

Previous: $124M-44.8%
Operating Income

$450M

Previous: $215M+110.0%
Gross Profit

$560M

Previous: $231M+142.1%
Cash & Equivalents

$1.03B

Previous: $585M+76.6%
Total Assets

$10.2B

Previous: $3.49B+191.7%
Stock-Based Comp

$7M

Previous: $1.55M+350.7%

Revenue & EPS history

SiriusPoint · Revenue · Quarterly

$562M

Q2 2021+102%vs Q2 2020
Beat estimate in 4 of 5 quarters(80%)
ActualEstimate

Revenue by segment

SiriusPoint · $257M total across 1 segment · Q3 2023

  • Reinsurance GWP
    $257M

Forward guidance

The company is embarking on a journey to create a company with a sustainable long-term franchise and a focus on book value creation.

Tailwinds

  • Optimizing capital allocation
  • Rebalancing towards insurance
  • Creating a sustainable long-term franchise
  • Focusing on book value
  • Ability to be nimble has allowed us to take advantage of current market conditions

Headwinds

  • Costs, expense and difficulties of the integration of the operations of Sirius Group
  • The impact of the novel coronavirus (COVID-19) pandemic or other unpredictable catastrophic events
  • Fluctuations in our results of operations
  • A downgrade or withdrawal of our financial ratings
  • Inadequacy of loss and loss adjustment expenses reserves

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.5%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+1.6%

Avg return

30 days after

67%

38 / 57 earnings

Positive

+10.1%

Q2 2018

Best reaction

-16.0%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.2%-4.7%-7.9%
Q4 2025+6.6%+2.8%-0.9%
Q3 2025+4.0%+6.8%+14.3%
Q1 2025+7.6%+6.0%+5.9%
Q4 2024-0.1%+1.6%+12.4%
Q3 2024-2.6%-5.7%+12.6%
Q2 2024+1.6%-2.1%+4.3%
Q1 2024+0.7%+0.7%+8.6%
Q4 2023-6.1%-3.0%+3.4%
Q3 2023-5.8%+2.3%+5.8%
Q2 2023+7.1%+9.8%+14.8%
Q1 2023-1.2%+3.5%+5.0%
Q4 2022-4.1%+0.9%+2.4%
Q3 2022-16.0%-8.7%+3.6%
Q2 2022+4.8%+7.9%+10.8%
Q1 2022+2.2%+1.9%-8.0%
Q4 2021-6.5%-10.5%-4.1%
Q3 2021-0.9%+2.2%-21.1%
Q2 2021+3.9%+5.4%+1.2%
Q4 2020-3.6%-0.7%-0.5%
Q1 2021-3.6%-0.7%-0.5%
Q3 2020+2.9%+9.2%+21.9%
Q4 2019+0.3%-1.5%-4.5%
Q2 2020+8.2%+8.6%+4.3%
Q1 2020-9.5%-7.2%-4.0%
Q3 2019-3.2%-1.6%-4.0%
Q2 2019+5.8%+3.6%+3.0%
Q1 2019+3.2%+1.6%+11.8%
Q4 2018-4.5%-4.2%-10.3%
Q3 2018+4.7%+1.5%-11.7%
Q2 2018+10.1%+9.3%+8.5%
Q1 2018-3.2%-4.7%-4.7%
Q4 2017-1.1%+2.9%+0.4%
Q3 2017+2.7%-3.0%-7.6%
Q2 2017+2.7%+1.7%-3.1%
Q1 2017+1.7%-0.4%+1.7%
Q4 2016+0.4%+2.5%-2.9%
Q3 2016+6.2%+8.8%+1.3%
Q2 2016+1.0%+1.3%+1.1%
Q1 2016+2.6%
Q4 2015-3.3%
Q3 2015+0.4%
Q2 2015-3.2%
Q1 2015+0.6%
Q4 2014+0.5%
Q3 2014-0.2%
Q2 2014+3.1%
Q1 2013+1.8%
Q1 2014+1.0%
Q1 2012+0.9%
Q2 2013+0.9%
Q4 2013+0.9%
Q4 2011+0.9%
Q2 2012+0.9%
Q3 2012+1.5%
Q3 2013+1.5%
Q4 2012+1.5%

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