AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to "a" (Excellent) from "a-" (Excellent) of the rated operating subsidiaries of SiriusPoint Ltd. (SiriusPoint) (Bermuda) (NYSE:SPNT). Additionally, AM Best has upgraded the Long-Term ICR to "bbb" (Good) from "bbb-" (Good) of SiriusPoint, which is a non-operating holding company. (See below for a detailed listing of the companies and Credit Ratings [ratings]). The outlook of these ratings has been revised to stable from positive.

The ratings reflect SiriusPoint's consolidated balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings of the group's operating subsidiaries factor in their strategic importance to SiriusPoint.

The rating upgrades reflect SiriusPoint's improved balance sheet strength fundamentals following actions taken by management including de-risking of the company's investment portfolio, reduction in its catastrophe exposure, and streamlining of its ownership structure. AM Best expects that the group will maintain its risk-adjusted capitalisation comfortably at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), supported by prudent capital management, effective underwriting exposure management and positive operating results.

SiriusPoint's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at year-end 2025, as measured by BCAR. The group has grown its capital base organically through full earnings retention, as evidenced by the increase in its reported equity at year-end 2025 to USD 2.5 billion (2024: USD 1.9 billion). Furthermore, the balance sheet strength assessment considers SiriusPoint's conservative investments allocation, which was composed predominantly of cash and high-quality fixed income securities at year-end 2025, as well as its reduced financial leverage. A partially offsetting rating factor is the limited fungibility of the group's capital due to a significant, albeit reducing, portion of consolidated available capital being held as a safety reserve in the group's Sweden subsidiary.

SiriusPoint has a track record of adequate underwriting performance. Since 2023, the group's combined ratios have ranged between 93% and 96% (as calculated by AM Best). This represents a sustained material improvement against the period prior to 2023, when the group's net combined ratios were consistently above 100%. AM Best expects SiriusPoint's prospective underwriting results to remain profitable with reduced volatility as its management continues to rebalance the business mix away from catastrophe-exposed property business and toward less volatile accident and health and specialty lines of business. SiriusPoint reported a robust pre-tax profit of USD 541 million in 2025 (2024: USD 233 million), benefiting from underwriting earnings, solid investment income, and gains from the sale of some affiliated strategic investments.

SiriusPoint's neutral business profile assessment reflects its market position as a mid-tier global (re)insurer, which operates from platforms in Europe, the United States, Bermuda and at Lloyd's. The group reported gross written premium of USD 3.7 billion in 2025 and maintains a good level of diversification by line of business.

The FSR has been upgraded to A (Excellent) from A- (Excellent) and the Long-Term ICRs to "a" (Excellent) from "a-" (Excellent) with the outlooks revised to stable from positive for the subsidiaries of SiriusPoint Ltd.:

SiriusPoint America Insurance Company
SiriusPoint Bermuda Insurance Company Ltd.
SiriusPoint International Insurance Corporation (publ)
SiriusPoint Specialty Insurance Corporation

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416455480/en/

Todor Kitin, ACA

Associate Director, Analytics

+44 20 7397 0335

todor.kitin@ambest.com

Jessica Botelho-Young, CA

Director, Analytics

+44 20 7397 0310

jessica.botelho-young@ambest.com

Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

christopher.sharkey@ambest.com

Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

al.slavin@ambest.com

AM Best Upgrades Credit Ratings of SiriusPoint Ltd. and Its Subsidiaries