AM Best has upgraded SiriusPoint Ltd.’s Financial Strength Rating to A (Excellent) from A‑ (Excellent) and its Long‑Term Issuer Credit Ratings to “a” (Excellent) from “a‑” (Excellent). The parent company’s rating was also raised to “bbb” (Good) from “bbb‑” (Good). The upgrade reflects a very strong balance sheet, disciplined underwriting, and prudent capital management, and it follows a recent de‑risking of the company’s investment portfolio and a reduction in catastrophe exposure.
SiriusPoint’s capital base grew to $2.5 billion in 2025 from $1.9 billion in 2024, driven by retained earnings. AM Best assessed the company’s balance sheet strength as “very strong,” noting that capitalization reached its highest level at the end of 2025. The company’s investment portfolio is now conservative, focused on cash and high‑quality fixed‑income securities, which has lowered risk exposure and supported the rating upgrade.
Operating performance improved markedly in 2025. Pre‑tax profit rose to $541 million from $233 million in 2024, and combined ratios have been between 93 % and 96 % since 2023, a significant improvement from periods where they were above 100 %. The shift toward accident, health, and specialty lines has reduced volatility and contributed to the stronger underwriting results that AM Best cited as a key driver of the upgrade.
SiriusPoint’s strategic pivot away from catastrophe‑exposed property lines toward less volatile accident and health and specialty insurance has been a central factor in the rating change. The company’s focus on these lines has lowered exposure to large, unpredictable losses and has improved the predictability of underwriting results, which AM Best highlighted as a reason for the stable outlook.
"We are delighted with the upgrade from AM Best, which comes hard on the heels of Fitch’s upgrade earlier this year. These ratings actions reflect the progress the Company has made and further reinforce the overall strength of the business," said CEO Scott Egan.
The upgrade to A (Excellent) and the stable outlook signal that SiriusPoint is well positioned to meet its ongoing insurance obligations and to pursue growth opportunities. The rating change is expected to enhance the company’s credibility with policyholders, brokers, and reinsurance partners, potentially leading to more favorable terms in future transactions.
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