• Specialty Insurance: Providing direct insurance coverage to businesses and individuals for unique and complex risks across various industries.
• Global Reinsurance: Offering insurance coverage to other insurance companies, helping them manage their risk exposure and capital needs for diverse portfolios.

SiriusPoint (SPNT) is a global specialty insurer and reinsurer. As such, it primarily sells its products and services to other companies, rather than directly to individuals.

Due to the confidential and competitive nature of the insurance and reinsurance industry, SiriusPoint does not publicly disclose the names of its major customer companies. Its annual reports and investor materials typically state that no single client or broker accounts for a material percentage of its gross written premiums, or they do not name specific clients.

However, based on its business description, SiriusPoint serves the following categories of customer companies:

• Other insurance companies: These are customers for SiriusPoint's reinsurance services, where it assumes a portion of the risk from primary insurers.
• Large and medium-sized corporations: These companies purchase specialty insurance coverage from SiriusPoint for complex risks that often require customized solutions (e.g., marine, energy, aviation, professional liability, D&O).
• Public sector entities: Governmental bodies or other public organizations that require specialized insurance coverage for their operations and liabilities.

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Scott Egan, Chief Executive Officer
Scott Egan became Chief Executive Officer at SiriusPoint in September 2022. He brings over 25 years of insurance industry experience, having most recently served as the Chief Executive of Royal Sun Alliance (RSA) UK & International and as a FTSE 100 board director for six years. Prior to that, he was CFO of RSA Group PLC. Egan has held senior positions at companies including Aviva, Zurich Financial Services, Brit Insurance, and Towergate Broking. He possesses experience working across large domestic and international corporates, as well as private equity-backed businesses.

James J. McKinney, Chief Financial Officer
James J. McKinney has served as SiriusPoint's Chief Financial Officer since May 2024. He previously held the role of Executive Vice President and Chief Financial Officer at Kemper Corporation. Before that, he was Executive Vice President, Chief Financial Officer at Banc of California.

David Govrin, Group President and Chief Executive Officer of Global Reinsurance
David Govrin is SiriusPoint's Group President and Chief Executive Officer of Global Reinsurance, a role he has held since January 2025. He joined SiriusPoint in March 2021 as Global Chief Underwriting Officer and President, Americas Reinsurance. Govrin brings 35 years of industry experience, with a background spanning underwriting, reinsurance brokerage, investment banking, capital markets, and private equity. Before joining SiriusPoint, he held senior positions at Third Point Reinsurance, including President of Third Point Reinsurance (USA) Ltd. and Head of Business Development. He also served as a Vice President in Berkshire Hathaway's Reinsurance Group. Notably, Govrin founded Hudson Insurance Capital Partners in 2007, a specialty insurance-focused private equity fund, and Sierra Re Advisors, a boutique reinsurance intermediary.

Philip Enan, Chief Strategy & Corporate Development Officer
Philip Enan joined SiriusPoint as Chief Strategy and Corporate Development Officer in May 2025. In this role, he leads SiriusPoint's strategy development process and explores new investment opportunities. Before SiriusPoint, Enan spent over a decade at Chubb as part of the Global Corporate Development Group, where he held the position of Executive Vice President, Global Corporate Development and Head of Strategic Partnerships.

Rob Gibbs, President & CEO, SiriusPoint International
Rob Gibbs serves as President & CEO, SiriusPoint International. He was appointed to this role as part of executive appointments announced in November 2024. He previously served as SiriusPoint's Head of International Insurance. Prior to joining SiriusPoint, Gibbs spent 18 years at RSA, where he held various leadership positions, including Managing Director of RSA Scandinavia and CEO of RSA Luxembourg. He also has experience with Aviva.

The rapid acceleration and adoption of advanced artificial intelligence (AI), machine learning (ML), and sophisticated data analytics by insurtech startups and larger, digitally-advanced incumbent insurers and reinsurers poses a clear emerging threat.

Companies that effectively leverage these technologies can achieve more precise risk assessment, leading to superior risk selection, better-priced policies, and lower loss ratios. This allows them to offer more competitive rates or cherry-pick the most profitable risks. Additionally, AI/ML can significantly enhance operational efficiency by automating and streamlining underwriting processes, claims management, and policy administration, reducing operational costs and accelerating speed to market for new products. If SiriusPoint does not keep pace with these technological advancements in its core operations, it risks losing competitive advantage in pricing, efficiency, and product innovation to more agile and technologically advanced competitors.

Reinsurance Market

• The global reinsurance market was valued at approximately $711.75 billion in 2024 and is projected to reach about $2 trillion by 2034, demonstrating a compound annual growth rate (CAGR) of 10.88% from 2025 to 2034. Other estimates for the global market include a valuation of $581.3 billion in 2024, with a projection to reach $1,165.7 billion by 2033 at an 8.04% CAGR from 2025 to 2033. Another report indicated the global market was $498.7 billion in 2021, with a projection to reach $1344.3 billion by 2031, growing at a CAGR of 10.8% from 2022 to 2031.
• North America held more than 44% of the revenue share in the global reinsurance market in 2024. The U.S. reinsurance market alone was valued at $220.05 billion in 2024 and is expected to grow to $630.10 billion by 2034, with a CAGR of 11.09% from 2025 to 2034. In 2022, the U.S. reinsurance market exceeded $109 billion.

Specialty Insurance Market

• The global specialty insurance market was valued at approximately $101.15 billion in 2024. It is projected to grow from $112.77 billion in 2025 to $266.15 billion by 2032, exhibiting a CAGR of 13.1% during this forecast period. Other reports indicate a global market size of $104.7 billion in 2021, projected to reach $279 billion by 2031, with a CAGR of 10.6% from 2022 to 2031. Another estimate places the global market at $134.61 billion in 2025, with a projected growth to $215.82 billion by 2030 at a 9.89% CAGR.
• North America held the largest share in the specialty insurance market, valued at $38.86 billion in 2024, and $34.63 billion in 2023. The U.S. market is estimated to reach $29.15 billion in 2025.
• Europe held a significant share of 35% in the global specialty insurance market in 2021. The market in Asia Pacific is estimated to reach $24.3 billion in 2025.

SiriusPoint (SPNT) is expected to drive future revenue growth over the next two to three years through several strategic initiatives and market focuses:

1. Expansion of Strategic Managing General Agent (MGA) Partnerships: SiriusPoint is actively focused on expanding its portfolio of strategic MGA partnerships, positioning itself as a preferred partner for delegated business. This strategy has been a key driver of growth, with the company adding new distribution partnerships.
2. Targeted Growth in Specialty and Property Market Segments: The company has demonstrated a strategic focus on expanding its presence and achieving strong growth within its specialty and property market segments.
3. Continued Growth in Accident & Health (A&H) Business: SiriusPoint anticipates continued revenue expansion from its Accident & Health segment, which has shown significant premium growth and contributes a substantial portion to the gross written premium of its Insurance & Services segment.
4. Strategic Expansion in International Property & Casualty (P&C) Business: The company is pursuing strategic organic growth and new program development within its international P&C business, indicating a focus on geographic market expansion.
5. Disciplined Underwriting and Favorable Pricing Environment: SiriusPoint's growth strategy is underpinned by disciplined underwriting and pricing. This approach, which has led to improved combined ratios and underwriting profits, enables the company to retain a greater proportion of its increasingly profitable book and support sustainable expansion.

Share Repurchases

• SiriusPoint completed the repurchase of all common shares and warrants from CM Bermuda for $733 million by February 27, 2025, which included 45.7 million common shares at $14.25 per share and 21 million warrants at $3.56 per warrant.
• As part of a registered secondary offering by entities associated with Daniel S. Loeb, SiriusPoint repurchased 500,000 common shares at $14 per share, completed by February 27, 2025.
• SiriusPoint announced its intent to repurchase up to 2,000,000 common shares in a registered secondary offering by Loeb Entities, communicated on February 25, 2025.

Share Issuance

• A registered secondary offering of 4,106,631 common shares by entities associated with Daniel S. Loeb was completed on February 27, 2025.
• SiriusPoint has 8,000,000 Series B preference shares outstanding, with a par value of $0.10, which pay cumulative quarterly dividends at an initial rate of 8.0% per annum.

Outbound Investments

• SiriusPoint agreed to sell its 49% equity stake in managing general agent (MGA) Arcadian Risk Capital to Lee Equity Partners for $139 million, including a pre-close dividend, as announced on October 6, 2025.
• This sale of the Arcadian stake is expected to generate a pre-tax gain of $25-30 million, adding to a previously recognized gain of $96 million from the second quarter of 2024.
• The company has been actively rationalizing its MGA investments, with agreements for sales announced in the third quarter of 2025.