SiriusPoint Ltd. (SPNT) Stock

SiriusPoint Ltd. (SPNT) is a Financials stock trading at $24.33 (as of 2026-09-02), with a market capitalization of $2.86B and a trailing P/E of 5.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

SiriusPoint Ltd. provides insurance and reinsurance coverage for multiple lines of business, operating through Reinsurance and Insurance & Services segments. Its reinsurance products serve insurers, government entities, and other risk-bearing vehicles, while the insurance and services segment provides coverage for additional lines.

Understand SiriusPoint Ltd.: how it makes money

SiriusPoint writes multi-line insurance and reinsurance (property, casualty, accident & health, marine, aviation) for other insurers, governments, and corporate risk-takers, earning the spread between premiums collected and claims paid. Two segments carry the book: direct Insurance & Services and wholesale Reinsurance, with the insurance side now the larger and faster-growing leg.

Underwriting profit (premiums minus claims and expenses, tracked by combined ratio) plus investment yield on the capital backing those policies, with catastrophe losses as the primary swing factor on reported earnings.

Business quality (Mixed): Profitable but volatile: 11% operating margin and 22% ROE on a cyclical premium base; 5.6x P/E prices in meaningful earnings uncertainty.

Valuation: At 6× earnings, SPNT trades 57% below the Insurance average (13×). Note: the low multiple may reflect one-time earnings items.

Bull case

  • A&H diversifies the earnings base: Management highlights that the accident and health line is delivering growing, diversified, and lower-volatility earnings, reducing reliance on lumpy catastrophe and casualty results for the overall P&L.
  • Trades at a 57% discount: At 5.6x earnings versus a 13x insurance-industry average, the stock is priced for material deterioration, yet the company is posting a 22% ROE and an 11% operating margin this quarter.
  • Aggregate cap cuts cat volatility: New aggregate protection is intended to reduce retained catastrophe and underwriting volatility, lowering the sensitivity of quarterly results to a single large loss event.

Bear case

  • Pricing environment is turning: Management acknowledges tougher insurance market conditions in 2026, and property catastrophe pricing has declined sharply, prompting capital reallocation away from some programs. That directly compresses the premium base going into the second half.
  • Growth constrained on both legs: Casualty exposure remains constrained in challenged public B&O and commercial auto markets, while reinsurance gross premiums already fell 10% YoY. The two largest premium pools are simultaneously under pressure.
  • Integration adds execution risk: Service-fee income may be volatile and potentially lower during the 2026 integration, creating a near-term drag just as the IMG joint venture is expected to ramp fee income and EBITDA.
Valuation — source: SEC EDGAR (first-party)
Price$24.33
Market Cap$2.86B
P/E Ratio5.7
EV / EBITDA4.7
Price / Book1.26
Price / Sales0.88
DCF Value (model)$86.57
DCF Upside vs Price255.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$3.21B
Net Margin14.3%
Revenue Growth (YoY)-0.5%
EPS Growth (YoY)15.7%
Valuation vs Sector & Industry
Stock P/E5.7
Sector P/E (Financials)14.9
Industry P/E (Insurance)12.1
vs Sector-62.1%
vs Industry-53.4%
Company
SectorFinancials
IndustryInsurance
CEOScott Egan
Employees1,012
CountryBM
IPO Date2013-08-15

SiriusPoint Ltd. earnings call transcripts

  • SPNT Q4 FY25 earnings call transcript (reported 2026-02-18) · analysis
  • SPNT Q2 FY25 earnings call transcript (reported 2025-08-04) · analysis

All SPNT earnings calls

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SPNT earnings history · SPNT institutional & insider holders · SPNT KPIs & operating metrics · SPNT financials · SPNT investor presentations & press releases · SPNT SEC filings · SPNT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.