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SiriusPoint ( (SPNT) ) has shared an update.
SiriusPoint Ltd. has entered into a Securities Purchase Agreement to repurchase all common shares and warrants held by CM Bermuda Limited for approximately $733 million. The transaction is expected to be completed by February 28, 2025, and will result in CM Bermuda having no remaining ownership interest in SiriusPoint. The deal, which is financed through existing capital, is anticipated to be accretive to earnings per share and return on equity, positioning SiriusPoint for future growth and value creation for shareholders.
More about SiriusPoint
SiriusPoint is a global specialty insurer and reinsurer headquartered in Bermuda, with offices in New York, London, Stockholm, and other locations. It is listed on the New York Stock Exchange and has licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. The company strengthens its offerings through strategic partnerships with Managing General Agents and Program Administrators and holds a financial strength rating of A- from AM Best, S&P, and Fitch, and A3 from Moody’s.
YTD Price Performance: 22.59%
Average Trading Volume: 569,256
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.3B
Find detailed analytics on SPNT stock on TipRanks’ Stock Analysis page.
