SiriusPoint business insurance

Overview

SiriusPoint is a Bermuda-based specialty insurer and reinsurer. Most U.S. business owners who hold a SiriusPoint policy never deal with the company directly: their coverage was written by a managing general agent or program administrator that uses SiriusPoint's balance sheet. The group was ranked No. 91 among U.S. business insurers by 2025 commercial lines direct premiums written, with $719.5 million, based on NAIC market share data, or about 0.15% of the national commercial market. It does not rank in the national top 10 in any single line. Its U.S. book is led by other liability (general and professional liability, $344.4 million) and surety ($207.8 million), followed by commercial auto and inland marine.

In the U.S. the NAIC group consists of two companies. SiriusPoint America Insurance Company is the admitted carrier, formerly Sirius America Insurance Company. SiriusPoint Specialty Insurance Corporation writes excess and surplus lines business. The parent, SiriusPoint Ltd., trades on the New York Stock Exchange (SPNT) and is run by CEO Scott Egan. Its U.S. office is at One World Trade Center in New York. Outside the U.S., SiriusPoint writes reinsurance and London market specialty insurance, and owns International Medical Group (IMG), an accident and health MGA.

History

SiriusPoint was formed on February 26, 2021, when Third Point Re merged with Sirius Group. The new company launched with more than $3 billion of capital. The two halves had different histories:

• Sirius traces back to a Swedish reinsurer founded in 1945, which later wrote business in London and at Lloyd's through Syndicate 1945. White Mountains owned Sirius International Insurance Group until China Minsheng's CMIG International bought it on April 18, 2016. Sirius Group listed on Nasdaq in November 2018 through a merger with Easterly Acquisition Corp.
• Third Point Re was formed in Bermuda in October 2011 as a reinsurer whose investments were managed by Daniel Loeb's Third Point hedge fund. It listed on the NYSE in August 2013.

The early SiriusPoint years were rough. Results were volatile, and the company carried stakes in many MGAs and insurtechs. Scott Egan became CEO on September 21, 2022, and set out to shrink catastrophe exposure, exit non-core lines and simplify ownership. On February 27, 2025, SiriusPoint finished buying out CMIG's shareholding for $733 million, which removed CMIG from the board. Later in 2025 it agreed to sell its stake in the supplemental health MGA ArmadaCare to Ambac for $250 million, with capacity committed until 2030. In October 2025 it agreed to sell its 49% stake in Arcadian Risk Capital to Lee Equity Partners for $139 million, with a capacity deal running to 2031; its Form 8-K reports the sale closed on January 30, 2026, for $140 million in cash before post-closing adjustments. In both sales SiriusPoint stays on as the insurer behind the MGA's business, so the policies did not move.

Business insurance products

SiriusPoint describes itself as a leading carrier for program administrators and MGAs. It says most of its insurance business comes through partners in professional liability, workers' compensation, commercial auto and specialty lines. In the U.S. that business is managed by its Global P&C Programs division, led by Patrick Charles; John Sakakeeny, formerly of The Hartford, became chief underwriting officer for North America P&C in February 2026. The 2025 annual report says the portfolio has moved beyond primary and excess liability into E&S property, inland marine, credit and other specialty lines, and that SiriusPoint added 16 new programs in 2025.

Examples of what the platform looks like from a buyer's side:

• Small contractors: a partnership with Integrated Specialty Coverages (ISC) backs ISC's flagship general liability program for small trades such as Landscaping business insurance and Roofing contractor insurance, sold through retail and wholesale brokers.
• College athletics: SportsSecure, launched in 2026 with Sutton Special Risk, covers injury-related financial exposure that universities take on through name, image and likeness (NIL) and revenue-sharing commitments.
• Surety: SiriusPoint expanded its credit and bond business through a strategic partnership with Applied Surety Underwriters. Surety is now the second-largest U.S. commercial line in its NAIC numbers. See surety bonds explained: how they differ from insurance.
• Supplemental health and travel: through its own IMG and capacity deals with former affiliates such as ArmadaCare.

The policy you receive will carry the MGA's name and service details, with SiriusPoint America or SiriusPoint Specialty shown as the insurer on the declarations page. program business: niche insurance through program administrators explains how this split of underwriting, service and risk works.

Who it insures

There is no single SiriusPoint appetite for main-street businesses. Each program has its own class list, limits and state footprint, set by the MGA within SiriusPoint's guidelines. Typical U.S. insureds are small and mid-sized commercial accounts in niches that MGAs specialize in, such as General contractor insurance and trade contractors, transportation, professional services and specialty property. Surety principals, universities and employer groups buying accident and health cover round it out.

SiriusPoint said in its 2025 annual report that 40% of its North America portfolio comes from MGAs it has worked with for five years or more, and 60% from partners of three years or more. It is also cutting back where pricing has softened.

How to buy

You cannot buy from SiriusPoint directly. Your retail agent or broker reaches it through the MGA or program administrator that holds its underwriting authority, often via a wholesale broker for E&S business. In practice:

• Ask your broker which program and which issuing company are being quoted. If the quote shows SiriusPoint Specialty Insurance Corporation, it is a non-admitted policy. That means state guaranty funds generally do not apply and surplus lines taxes are added (see admitted vs non-admitted insurers: what the difference means).
• Certificates, endorsements, billing and audits are handled by the MGA, not by SiriusPoint.
• If a program loses its SiriusPoint capacity, the MGA will move renewals to another carrier, so check the issuing company at each renewal.

Claims

Report a claim to the party named in your policy's claims notice. That is usually the MGA or a third-party administrator (TPA) appointed for the program, not a SiriusPoint office. SiriusPoint's global claims team says it supports its primary insurance business and oversees claims handled by program administrators, MGAs and TPAs. Its website gives claims contacts only for Bermuda and Europe and publishes no U.S. claims hotline. If you cannot reach the program's claims unit, the New York office (212-312-0200) is the U.S. contact point.

Financial strength and ratings

On April 16, 2026, AM Best upgraded the financial strength ratings of SiriusPoint's operating subsidiaries, including SiriusPoint America Insurance Company and SiriusPoint Specialty Insurance Corporation, to A (Excellent) from A- (Excellent), with a stable outlook. That followed AM Best's April 2025 move to a positive outlook, which it attributed to investment de-risking, lower catastrophe exposure and the CMIG share buyback. Fitch upgraded the operating subsidiaries to A (Strong) from A- on February 25, 2026, also with a stable outlook. SiriusPoint's 2025 annual report says S&P revised its outlook to positive in 2025. See AM Best rating for what the scales mean.

Results have improved since the turnaround. For the first half of 2026, SiriusPoint reported net income to common shareholders of $168 million and a core combined ratio of 90.1%. Insurance and services premiums grew 11% while reinsurance premiums fell 9%. The Insurer's 2025 Program Manager Awards named it Program Insurer of the Year.

Strengths and weaknesses

For a buyer, SiriusPoint matters mainly as the paper behind a program. Its ratings are now solid and rising. The trade-off is that day-to-day service and claims depend on the MGA your broker chose, and that relationship can change.

• Strengths: A (Excellent) from AM Best and A (Strong) from Fitch, both upgraded in 2026. Both admitted and E&S paper in the U.S. A deliberate program-carrier model with long-tenured MGA partners. Several years of improved underwriting results since 2023.
• Weaknesses: No direct relationship with insureds, no U.S. claims hotline and no small business quoting. A short history as SiriusPoint, with volatile results and an ownership overhang before 2023. Program capacity can move at renewal. Much of the group's earnings still come from reinsurance and non-U.S. business.

How to contact SiriusPoint