S&P turns SiriusPoint outlook to stable

S&P said it changed its outlook for SiriusPoint Ltd. to stable from negative and affirmed its core subsidiaries’ A- ratings.

“The stable outlook reflects the recovery in SiriusPoint's underwriting performance and our expectation of more to come in 2023-2024. It also recognizes the management actions taken to stabilize earnings volatility focusing on de-risking of its balance sheet on the underwriting and investment side. Its plan to shift to a higher proportion of insurance to reinsurance business (compared with 40:60 historically) has been achieved,” S&P said in a press release.

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