Fitch moves SiriusPoint view to stable

Fitch Ratings said it changed the outlook for SiriusPoint Ltd. (SNPT) to stable from negative and affirmed its ratings, including its BBB long-term issuer default rating and BBB- senior debt rating

“The outlook revision to stable reflects recent underwriting performance improvement under a revamped SPNT management team, including a new CEO in September of 2022, that has strategically repositioned the (re)insurance underwriting portfolio to improve profitability and lessen overall volatility, including meaningfully decreasing property catastrophe risk. The company has also sizably reduced its exposure in Third Point LLC hedge funds and reinvested into less volatile, high-quality, fixed-income investments,” Fitch said in a press release.

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