SiriusPoint Ltd. is a Bermuda-based multi-line specialty insurer and reinsurer that provides tailored risk solutions to clients and brokers globally. The company was formed in 2021 following the merger of Third Point Reinsurance Ltd. (founded in 2011) and Sirius International Insurance Group. SiriusPoint operates through two core business segments: Insurance & Services and Reinsurance.
The Insurance & Services segment has grown to become the company's largest source of gross written premiums, generating approximately $1.84 billion in 2024. This segment focuses on primary insurance, including accident and health (A&H), property and casualty, and surety lines. A key component of this segment's strategy is its extensive network of strategic partnerships with managing general agents (MGAs) and program administrators, which allows SiriusPoint to distribute its products efficiently and earn fee-based income alongside underwriting profits.
The Reinsurance segment provides casualty, property, and specialty reinsurance products—such as aviation, space, marine, and energy—to insurance companies, government entities, and other risk-bearing vehicles. While the company has strategically reduced its exposure to high-volatility property catastrophe reinsurance in recent years to stabilize returns, the Reinsurance segment remains a critical earnings engine, contributing $1.34 billion in gross written premiums and $124.8 million in underwriting income in 2024.
Geographically, SiriusPoint underwrites from hubs in North America, Bermuda, and Europe, including operations through Lloyd's Syndicate 1945. By balancing its mature reinsurance portfolio with a growing, fee-generating MGA and primary insurance business, SiriusPoint aims to deliver consistent underwriting profitability and reduced earnings volatility.
