SiriusPoint (SPNT) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36052
Entity Registrant Name	SIRIUSPOINT LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-1599372
Entity Address, Address Line One	Point Building
Entity Address, Address Line Two	3 Waterloo Lane
Entity Address, City or Town	Pembroke
Entity Address, Postal Zip Code	HM 08
Entity Address, Country	BM
City Area Code	441
Local Phone Number	542-3300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		162,197,771
Entity Central Index Key	0001576018
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Shares, $0.10 par value
Entity Listings [Line Items]
Title of 12(b) Security	Common Shares, $0.10 par value
Trading Symbol	SPNT
Security Exchange Name	NYSE
8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share
Entity Listings [Line Items]
Title of 12(b) Security	8.00% Resettable Fixed Rate Preference Shares, Series B, $0.10 par value, $25.00 liquidation preference per share
Trading Symbol	SPNT PB
Security Exchange Name	NYSE

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets
Investments in related party investment funds, at fair value (cost - $341.9; 2021 - $441.9)	$ 678.6	$ 909.6
Debt securities, trading, at fair value (cost - $2,696.5; 2021 - $2,099.3)	2,622.8	2,085.6
Short-term investments, at fair value (cost - $991.2; 2021 - $1,076.0)	989	1,075.8
Equity securities, trading, at fair value (cost - $1.8; 2021 - $4.5)	2.7	2.8
Other long-term investments, at fair value (cost - $458.2; 2021 - $443.0) (includes related party investments at fair value of $240.1 (2021 - $258.2))	438.2	456.1
Total investments	4,731.3	4,529.9
Cash and cash equivalents	826.1	999.8
Restricted cash and cash equivalents	972.8	948.6
Redemption receivable from related party investment fund	0	250
Due from brokers	70.1	15.9
Interest and dividends receivable	10.7	8.3
Insurance and reinsurance balances receivable, net	1,936.8	1,708.2
Deferred acquisition costs and value of business acquired, net	271	218.8
Unearned premiums ceded	365.7	242.8
Loss and loss adjustment expenses recoverable, net	1,278.6	1,215.3
Deferred tax asset	180.6	182
Intangible assets	170	171.9
Other assets	102.6	126.8
Total assets	10,916.3	10,618.3
Liabilities
Loss and loss adjustment expense reserves	4,936	4,841.4
Unearned premium reserves	1,504.9	1,198.4
Reinsurance balances payable	773.5	688.3
Deposit liabilities	147.2	150.7
Securities sold, not yet purchased, at fair value	64	0
Due to brokers	32.1	6.5
Accounts payable, accrued expenses and other liabilities	188.7	229.8
Deferred tax liability	98	95.4
Liability-classified capital instruments	76	87.8
Debt	808.4	816.7
Total liabilities	8,628.8	8,115
Commitments and contingent liabilities
Shareholders’ equity
Common shares (issued and outstanding: 161,941,552; 2021 - 161,929,777)	16.2	16.2
Additional paid-in capital	1,623.4	1,622.7
Retained earnings	448	665
Accumulated other comprehensive income (loss)	0.6	(0.2)
Shareholders’ equity attributable to SiriusPoint shareholders	2,288.2	2,503.7
Noncontrolling interests	(0.7)	(0.4)
Total shareholders’ equity	2,287.5	2,503.3
Total liabilities, noncontrolling interests and shareholders’ equity	10,916.3	10,618.3
Series B preference shares
Shareholders’ equity
Preference shares	$ 200	$ 200

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments in related party investment funds, cost	$ 341.9	$ 441.9
Debt securities, trading, cost	2,696.5	2,099.3
Short-term investments, cost	991.2	1,076
Equity securities, trading, cost	1.8	4.5
Other long-term investments, cost	458.2	443
Related party investments at fair value	$ 240.1	$ 258.2
Common share, shares issued (in shares)	161,941,552	161,929,777
Common share, shares outstanding (in shares)	161,941,552	161,929,777
Series B preference shares
Preference shares, par value (in dollars per share)	$ 0.10	$ 0.10
Preference shares, shares authorized (in shares)	8,000,000	8,000,000
Preference shares, shares issued (in shares)	8,000,000	8,000,000

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Net premiums earned	$ 529.3	$ 245.2
Net realized and unrealized investment gains (losses)	(81.9)	31.5
Net realized and unrealized investment gains (losses) from related party investment funds	(131)	153.2
Other net investment income	7.8	1.8
Total realized and unrealized investment gains (losses) and net investment income (loss)	(205.1)	186.5
Other revenues	37.2	56.9
Total revenues	361.4	488.6
Expenses
Loss and loss adjustment expenses incurred, net	340.1	146.9
Acquisition costs, net	108.5	69
Other underwriting expenses	47.2	20.8
Net corporate and other expenses	77.4	78.9
Intangible asset amortization	1.9	0.8
Interest expense	9.3	4.9
Foreign exchange gains	(19.4)	(12.4)
Total expenses	565	308.9
Income (loss) before income tax expense	(203.6)	179.7
Income tax expense	(9.7)	(9.8)
Net income (loss)	(213.3)	169.9
Net loss attributable to noncontrolling interests	0.3	0
Net income (loss) available to SiriusPoint	(213)	169.9
Dividends on Series B preference shares	(4)	(1.5)
Net income (loss) available to SiriusPoint common shareholders	(217)	168.4
Net income (loss) available to SiriusPoint common shareholders	$ (217)	$ 168.4
Earnings (loss) per share available to SiriusPoint common shareholders
Basic earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (1.36)	$ 1.37
Diluted earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (1.36)	$ 1.35
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic (in shares)	159,867,593	116,760,760
Diluted (in shares)	159,867,593	118,146,341

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Comprehensive income (loss)
Net income (loss)	$ (213.3)	$ 169.9
Other comprehensive income
Change in foreign currency translation, net of tax	0.8	0.4
Total other comprehensive income	0.8	0.4
Comprehensive income (loss)	(212.5)	170.3
Net loss attributable to noncontrolling interests	0.3	0
Comprehensive income (loss) available to SiriusPoint	$ (212.2)	$ 170.3

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Parent	Preference sharesSeries B preference shares	Common shares	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Noncontrolling interests
Balance, beginning of period at Dec. 31, 2020			$ 0	$ 9.6	$ 933.9	$ 620.4	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares, net			200
Issuance of common shares, net				0.2	0.6
Issuance of common shares for Sirius Group acquisition				5.8	589.7
Issuance of common shares to related party				0.6	48
Share compensation					29.9
Common shares repurchased and retired				0	0
Net income (loss)	$ 169.9					169.9
Net loss attributable to noncontrolling interests	0					0
Dividends on preference shares						(1.5)
Net change in foreign currency translation	0.4						0.4
Balance, end of period at Mar. 31, 2021	2,609.3	$ 2,607.5	200	16.2	1,602.1	788.8	0.4	$ 1.8
Balance, beginning of period at Dec. 31, 2021	2,503.3		200	16.2	1,622.7	665	(0.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares, net			0
Issuance of common shares, net				0.1	0
Issuance of common shares for Sirius Group acquisition				0	0
Issuance of common shares to related party				0	0
Share compensation					5.3
Common shares repurchased and retired	(4.7)			(0.1)	(4.6)
Net income (loss)	(213.3)					(213.3)
Net loss attributable to noncontrolling interests	0.3					0.3
Dividends on preference shares						(4)
Net change in foreign currency translation	0.8						0.8
Balance, end of period at Mar. 31, 2022	$ 2,287.5	$ 2,288.2	$ 200	$ 16.2	$ 1,623.4	$ 448	$ 0.6	$ (0.7)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income	$ (213.3)	$ 169.9
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Share compensation	11.1	2.3
Net interest expense on deposit liabilities	0.8	0.8
Net realized and unrealized (gain) loss on investments and derivatives	72.8	(31.8)
Net realized and unrealized (gain) loss on investment in related party investment funds	131	(153.2)
Other revenues	(11.8)	(46.1)
Amortization of premium and accretion of discount, net	8.5	2
Amortization of intangible assets	1.9	0.8
Depreciation and other amortization	1.3	1.5
Other items, net	(5.9)	(12.4)
Changes in assets and liabilities:
Insurance and reinsurance balances receivable, net	(227.6)	29
Deferred acquisition costs and value of business acquired, net	(52.2)	(2.3)
Unearned premiums ceded	(122.9)	(38.2)
Loss and loss adjustment expenses recoverable, net	(63.3)	(17.5)
Deferred tax asset/liability	4	5
Other assets	22.9	20.1
Interest and dividends receivable	(2.4)	(1.4)
Loss and loss adjustment expense reserves	94.6	19.1
Unearned premium reserves	306.5	60
Reinsurance balances payable	85.2	62.7
Accounts payable, accrued expenses and other liabilities	(41.1)	(119.1)
Net cash provided by (used in) operating activities	0.1	(48.8)
Investing activities
Proceeds from redemptions from related party investment funds	350	0
Purchases of investments	(1,435.3)	(316.3)
Proceeds from sales and maturities of investments	919.7	233.3
Purchases of investments to cover short sales	(6.9)	(11.8)
Proceeds from short sales of investments	72.7	11.2
Change in due to/from brokers, net	(28.6)	75.7
Acquisition of Sirius Group, net (cash and restricted cash acquired of $740.3)	0	631.9
Net cash provided by (used in) investing activities	(128.4)	624
Financing activities
Proceeds from issuance of SiriusPoint common shares, net of costs	0	57.8
Taxes paid on withholding shares	(5.7)	(0.3)
Purchases of SiriusPoint common shares under share repurchase program	(4.7)	0
Cash dividends paid to preference shareholders	(4)	0
Net payments on deposit liability contracts	(6.8)	(3)
Change in total noncontrolling interests, net	0	0.1
Net cash provided by (used in) financing activities	(21.2)	54.6
Net increase (decrease) in cash, cash equivalents and restricted cash	(149.5)	629.8
Cash, cash equivalents and restricted cash at beginning of period	1,948.4	1,713.9
Cash, cash equivalents and restricted cash at end of period	$ 1,798.9	$ 2,343.7

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Statement of Cash Flows [Abstract]
Cash and restricted cash acquired	$ 740.3

Organization

Organization	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization SiriusPoint Ltd. (together with its consolidated subsidiaries, “SiriusPoint” or the “Company”) was incorporated under the laws of Bermuda on October 6, 2011. Through its subsidiaries, the Company is a provider of global multi-line reinsurance and insurance products and services. On February 26, 2021, the Company complete d the acquisition of Sirius International Insurance Group, Ltd. (“Sirius Group”) and changed its name from Third Point Reinsurance Ltd. to SiriusPoint Ltd. The results of operations and cash flows of Sirius Group are included from the acquisition date of February 26, 2021 forward. All references to SiriusPoint throughout this Quarterly Report on Form 10-Q (“Form 10-Q”) for periods prior to the acquisition date refer to legacy Third Point Reinsurance Ltd., unless otherwise indicated. S ee Note 3 for additional information. These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 in Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual financial statements. In addition, the year-end consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. This Quarterly Report should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Form 10-K”) filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 1, 2022. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the Company’s financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated. In the fourth quarter of 2021, the Company began classifying its business into two operating segments: Reinsurance and Insurance & Services. The change in reportable segments had no impact on the Company’s historical consolidated financial position, results of operations or cash flows as previously reported. Where applicable, all prior periods presented have been revised to conform to this new presentation. See Note 4 for additional information. The results for the three months ended March 31, 2022 are not necessarily indicative of the results expected for the full calendar year. Tabular amounts are in U.S. Dollars in millions, except share amounts, unless otherwise noted.

Significant accounting policies

Significant accounting policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Significant accounting policies	2. Significant accounting policies There have been no material changes to the Company’s significant accounting policies as described in its 2021 Form 10-K. Recently issued accounting standards Issued but not yet effective as of March 31, 2022 Accounting pronouncements issued during the three months ended March 31, 2022 were either not relevant to the Company or did not impact the Company’s consolidated financial statements. Reclassifications and Revision Reclassifications Certain comparative figures have been reclassified to conform to the current year presentation. Revision In the fourth quarter of 2021, the Company identified an understatement of the bargain purchase gain recorded in the first quarter of 2021 related to the acquisition of Sirius Group which understated income before income tax expense and net income available to SiriusPoint common shareholders by $37.5 million. Amounts for the three months ended March 31, 2021 were revised to correct for the previously reported understatement of income. This revision had no impact on the previously reported total shareholders’ equity attributable to SiriusPoint shareholders. Management assessed the materiality of the misstatement on the impacted 2021 interim financial statements in accordance with SEC Staff Accounting Bulletin Number 99, Materiality, as codified in ASC 250-10, Accounting Changes and Error Corrections. Management determined that the misstatement was not material to the financial statements of the first quarter in 2021.

Acquisition of Sirius Group

Acquisition of Sirius Group	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition of Sirius Group	3. Acquisition of Sirius Group Overview On February 26, 2021, the Company completed its acquisition of Sirius Group for total aggregate consideration valued at $1,079.8 million. The aggregate consideration for the transaction included the issuance of 58,331,196 SiriusPoint common shares valued at $595.6 million, $100.4 million of cash, the issuance of preference shares, warrants, and other contingent value components valued at $338.3 million, and other transaction-related services valued at $45.5 million. We recognized a bargain purchase gain of $50.4 million, which represents the excess of the fair value of the underlying net assets acquired and liabilities assumed over the purchase price. The gain from bargain purchase is included in other revenues in the consolidated statements of income. The bargain purchase determination is consistent with the fact that Sirius Group’s shares traded at a discount to book value and the need for Sirius Group to quickly diversify its ownership base. Refer to the 2021 Form 10-K for additional information on this acquisition. Series A Preference Shares On February 26, 2021, certain holders of Sirius Group shares elected to receive Series A preference shares, par value $0.10 per share (“Series A Preference Shares”), with respect to the consideration price of the Sirius Group acquisition. The Company issued 11,720,987 Series A Preference Shares. The Series A Preference Shares rank pari passu with the Company’s common shares with respect to the payment of dividends or distributions. Each Series A Preference Share has voting power equal to the number of Company shares into which it is convertible, and the Series A Preference Shares and Company shares shall vote together as a single class with respect to any and all matters. During the three months ended March 31, 2022, the Compan y did not d eclare or pay dividends to holders of Series A Preference Shares. Upon the third anniversary of the closing date of the Sirius Group acquisition, the Series A Preference Shares will be subject to a conversion ratio calculation, which will be based on ultimate COVID-19 losses along with other measurement criteria, to convert to the Company’s common shares. Series A Preference Shares are recorded at fair value in the liability-classified capital instruments line of the consolidated balance sheets. During the three months ended March 31, 2022, the Company recorded a gain of $6.6 million from the change in fair value of the Series A Preference Shares. As of March 31, 2022, t he fair value of the Series A Preference Shares is $13.8 million. Merger Warrants On February 26, 2021, the Company issued certain warrants with respect to the consideration price of the Sirius Group acquisition (the “Merger warrants”) . As of March 31, 2022, the Company had reserved for issuance common shares underlying warrants to purchase, in the aggregate, up to 21,009,324 common shares, to previous Sirius Group common shareholders. The Merger warrants are recorded at fair value in the liability-classified capital instruments line of the consolidated balance sheets. During the three months ended March 31, 2022, the Company recorded a gain of $4.8 million from the change in fair value of the Merger warrants. As of March 31, 2022, t he estimated fair value of the Merger warrants is $27.7 million. Sirius Group Private Warrants On February 26, 2021, the Company entered into an assumption agreement pursuant to which the Company agreed to assume all of the warrants issued on November 5, 2018 and November 28, 2018 (the “Private warrants”) by Sirius Group to certain counterparties. The Private warrants are recorded at fair value in the liability-classified capital instruments line of the consolidated balance sheets. During the three months ended March 31, 2022, the Company recorded a gain of $2.6 million from the change in fair value of the P rivate warrants. As of March 31, 2022, t he estimated fair value of the Private warrants is $0.6 million. Sirius Group Public Warrants Under the merger agreement between Sirius Group and Easterly Acquisition Corporation, each of Easterly’s existing issued and outstanding public warrants was converted into a warrant exercisable for Sirius Group common shares (“Sirius Group Public Warrants”). From February 26, 2021, holders of the Sirius Group Public Warrants have the right to receive the merger consideration that the holder of the Sirius Group Public Warrants would have received if such holder had exercised his, her or its warrants immediately prior to February 26, 2021. Because the exercise price of such Sirius Group Public Warrants of $18.89 was greater than the per share merger consideration, no such warrants were exercised prior to the completion of the merger and therefore no merger consideration was paid to holders of such warrants. The Sirius Group Public Warrants are no longer listed on any public exchange and will terminate in accordance with their terms. The Sirius Group Public Warrants are recorded at fair value in the liability-classified capital instruments line of the consolidated balance sheets. During the three months ended March 31, 2022, the Company recorded a gain of $1.1 million from the change in fair value of the Sirius Group Public Warrants. As of March 31, 2022, the estimated fair value of the Sirius Group Public Warrants is $nil. Upside Rights On February 26, 2021, the Company issued Upside Rights with respect to the consideration price of the Sirius Group acquisition. The Upside Rights expired without any value on February 26, 2022. Contingent Value Rights On February 26, 2021, the Company entered into a contingent value rights agreement with respect to the consideration price of the Sirius Group acquisition. The contingent value rights (“CVRs”) are recorded at fair value in the liability-classified capital instruments line of the consolidated balance sheets. During the three months ended March 31, 2022, the Company recorded a loss of $3.3 million from the change in fair value of the CVRs . As of March 31, 2022, t he fair value of the CVRs is $33.9 million. The CVRs became publicly traded on the OTCQX Best Market during the quarter ended June 30, 2021. Financial results The following table summarizes the results of Sirius Group since February 26, 2021 that have been included in the Company's consolidated statements of income: For the period from February 26, 2021 to March 31, 2021 Total revenues $ 146.2 Net income $ 23.3 Supplemental Pro Forma Information The following table presents unaudited pro forma consolidated financial information for the three months ended March 31, 2021 and assumes the acquisition of Sirius Group occurred on January 1, 2021. The unaudited pro forma consolidated financial information is provided for informational purposes only and is not necessarily, and should not be assumed to be, an indication of the results that would have been achieved had the transaction been completed as of January 1, 2021 or that may be achieved in the future. The unaudited pro forma consolidated financial information does not give consideration to the impact of possible revenue enhancements, expense efficiencies, synergies or asset dispositions that may result from the acquisition of Sirius Group. In addition, unaudited pro forma consolidated financial information does not include the effects of costs associated with any restructuring or integration activities resulting from the acquisition of Sirius Group, as such costs cannot be determined at this time. Three months ended March 31, 2021 Total revenues $ 664.7 Net income (loss) $ 165.8

Segment reporting

Segment reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment reporting	4. Segment reporting The determination of the Company’s business segments is based on the manner in which management monitors the performance of its operations. The Company reports two operating segments: Reinsurance and Insurance & Services. The Company’s segments each have managers who are responsible for the overall profitability of their respective segments and who are directly accountable to the Company’s chief operating decision maker, the Chief Executive Officer ("CEO") and Chairman of the Company. The CEO assesses segment operating performance, allocates capital, and makes resource allocation decisions based on Segment income (loss). The Company does not manage its assets by segment; accordingly, total assets are not allocated to the segments. Reinsurance The Company is a leading global (re)insurer, which offers both treaty and facultative reinsurance worldwide through its network of local branches. The Company participates in the broker market for reinsurance treaties written in the United States and Bermuda primarily on a proportional and excess of loss basis. For the Company’s international business, the book consists of treaty, written on both a proportional and excess of loss basis, facultative, and primary business, primarily in Europe, Asia and Latin America. The Reinsurance segment provides coverage in the following product lines: Aviation & Space – Aviation covers loss of or damage to an aircraft and the aircraft operations' liability to passengers, cargo and hull as well as to third parties, and Space covers damage to a satellite during launch and in orbit. Casualty – covers a cross section of all casualty lines, including general liability, umbrella, auto, workers’ compensation, professional liability, and other specialty classes. Contingency – covers event cancellation and non-appearance. The Company offers this class on a treaty reinsurance basis on a selective basis for a few key clients. Credit & Bond – covers traditional short-term commercial credit insurance, including pre-agreed domestic and export sales of goods and services with typical coverage periods of 60 to 120 days. Marine & Energy – Marine covers damage to ships and goods in transit, marine liability lines as well as yacht-owner perils. Energy covers offshore energy industry insurance. Mortgage – covers credit risks that compensates insureds for losses arising from mortgage loan defaults. Property – consists of the Company’s underwriting lines of business that offer property catastrophe excess reinsurance, agriculture reinsurance and property risk and pro rata on a worldwide basis. Property catastrophe excess of loss reinsurance treaties cover losses from catastrophic events. Agriculture provides stop-loss reinsurance coverage, including to companies writing U.S. government-sponsored multi-peril crop insurance. Insurance & Services The Company provides insurance products to individuals and corporations directly, through agents/brokers or through delegated underwriting agreements with managing general agents (“MGAs”). The Company seeks to work with MGAs that have strong underwriting expertise, deep understanding of the customer/product niches and/or technology-driven approaches, and a sustainable competitive moat. Insurance & Services offers a comprehensive set of services for startup MGAs and insurance services companies including fronting services, risk capital and equity and debt financing. Furthermore, the Company offers expertise in underwriting, pricing and product development to businesses it partners with. The Company has a stringent screening process to identify and approve partner companies which includes alignment of interests, disciplined management and strong oversight, which are believed to be critical for success. The Insurance & Services segment predominantly provides insurance coverage in addition to receiving fees for services provided within Insurance & Services and to third parties. The Company makes both controlling and non-controlling equity investments and debt investments in MGAs and other insurance-related business (collectively, “Strategic Investments”); the non-controlling investments are reflected at fair value. The Insurance & Services segment provides coverage in the following product lines: Accident and Health (“A&H”) – consists of accident and health coverage, and MGA units (which include ArmadaCorp Capital, LLC (“Armada”) and International Medical Group, Inc. (“IMG”)). Armada’s products are offered in the United States while IMG offers accident, health and travel products on a worldwide basis. Environmental – consists of an environmental insurance book in the U.S. comprised of 4 core products that revolve around pollution coverage, which are premises pollution liability, contractor's pollution/pollution liability and professional liability. Workers’ Compensation – consists of state-mandated insurance coverage that provides medical, disability, survivor, burial, and rehabilitation benefits to employees who are injured or killed due to a work-related injury or illness. Other – consists of a cross section of property and casualty lines, including but not limited to property, general liability, excess liability, commercial auto, professional liability, directors and officers, cyber and other specialty classes. Management uses segment income (loss) as the primary basis for assessing segment performance. Segment income (loss) is comprised of two components, underwriting income (loss) and net services income (loss). The Company calculates underwriting income (loss) by subtracting loss and loss adjustment expenses incurred, net, acquisition costs, net, and other underwriting expenses from net premiums earned. Net services income (loss) consists of services revenues (fee for service revenues), services expenses, services non-controlling (income) loss and net investment gains (losses) from Strategic Investments. This definition of segment income (loss) aligns with how business performance is managed and monitored. We continue to evaluate our segments as our business evolves and may further refine our segments and segment income (loss) measures. Certain items are presented in a different manner for segment reporting purposes than in the consolidated statements of income (loss). These items are reconciled to the consolidated presentation in the segment measure reclass column below and include net investment gains (losses) from Strategic Investments where Insurance & Services holds private equity investments. Also included in Insurance & Services segment income (loss) are services noncontrolling loss (income) attributable to minority shareholders on non-wholly-owned subsidiaries. In addition, services revenues and services expenses are reconciled to other revenues and net corporate and other expenses, respectively. Segment results are shown prior to corporate eliminations. Corporate eliminations are included in the elimination column below as necessary to reconcile to underwriting income (loss), net services income (loss), and segment income (loss) to the consolidated statements of income (loss). Corporate includes the results of all runoff business, which represent certain classes of business that the Company no longer actively underwrites, including those that have asbestos and environmental and other latent liability exposures and certain reinsurance contracts that have interest crediting features. In addition, revenue and expenses managed at the corporate level, including realized gains and losses (excluding net investment gains (losses) from Strategic Investments, which are allocated to the segment results), net realized and unrealized investment gains (losses) from related party investment funds, other investment income, non-services-related other revenues, non-services-related net corporate and other expenses, intangible asset amortization, interest expense, foreign exchange (gains) losses and income tax (expense) benefit are reported within Corporate. The CEO does not manage segment results or allocate resources to segments when considering these items and they are therefore excluded from our definition of segment income (loss). The following is a summary of the Company’s operating segment results for the three months ended March 31, 2022 and 2021: Three months ended March 31, 2022 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 524.2 $ 483.5 $ 1,007.7 $ — $ 2.0 $ — $ 1,009.7 Net premiums written 374.9 337.5 712.4 — 1.5 — 713.9 Net premiums earned 307.6 212.8 520.4 — 8.9 — 529.3 Loss and loss adjustment expenses incurred, net 194.5 134.0 328.5 (1.2) 12.8 — 340.1 Acquisition costs, net 79.9 53.5 133.4 (25.6) 0.7 — 108.5 Other underwriting expenses 30.1 15.7 45.8 — 1.4 — 47.2 Underwriting income (loss) 3.1 9.6 12.7 26.8 (6.0) — 33.5 Services revenue — 56.8 56.8 (30.8) — (26.0) — Services expenses — 43.3 43.3 — — (43.3) — Net services fee income — 13.5 13.5 (30.8) — 17.3 — Services noncontrolling loss — 0.8 0.8 — — (0.8) — Net investment losses from Strategic Investments — (0.3) (0.3) — — 0.3 — Net services income — 14.0 14.0 (30.8) — 16.8 — Segment income (loss) 3.1 23.6 26.7 (4.0) (6.0) 16.8 33.5 Net realized and unrealized investment losses (81.6) (0.3) (81.9) Net realized and unrealized investment losses from related party investment funds (131.0) — (131.0) Other net investment income 7.8 — 7.8 Other revenues 11.2 26.0 37.2 Net corporate and other expenses (34.1) (43.3) (77.4) Intangible asset amortization (1.9) — (1.9) Interest expense (9.3) — (9.3) Foreign exchange gains 19.4 — 19.4 Income (loss) before income tax expense $ 3.1 $ 23.6 26.7 (4.0) (225.5) (0.8) (203.6) Income tax expense — — (9.7) — (9.7) Net income (loss) 26.7 (4.0) (235.2) (0.8) (213.3) Net loss attributable to noncontrolling interest — — (0.5) 0.8 0.3 Net income (loss) available to SiriusPoint $ 26.7 $ (4.0) $ (235.7) $ — $ (213.0) Underwriting Ratios: (1) Loss ratio 63.2 % 63.0 % 63.1 % 64.3 % Acquisition cost ratio 26.0 % 25.1 % 25.6 % 20.5 % Other underwriting expenses ratio 9.8 % 7.4 % 8.8 % 8.9 % Combined ratio 99.0 % 95.5 % 97.5 % 93.7 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards. Three months ended March 31, 2021 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 158.7 $ 190.9 $ 349.6 $ — $ 6.2 $ — $ 355.8 Net premiums written 161.5 139.6 301.1 — (1.6) — 299.5 Net premiums earned 199.8 42.7 242.5 — 2.7 — 245.2 Loss and loss adjustment expenses incurred, net 108.2 28.6 136.8 (0.2) 10.3 — 146.9 Acquisition costs, net 58.9 14.2 73.1 (5.7) 1.6 — 69.0 Other underwriting expenses 16.1 1.3 17.4 — 3.4 — 20.8 Underwriting income (loss) 16.6 (1.4) 15.2 5.9 (12.6) — 8.5 Services revenue — 18.2 18.2 (7.4) — (10.8) — Services expenses — 10.6 10.6 — — (10.6) — Net services fee income — 7.6 7.6 (7.4) — (0.2) — Net investment gains (losses) from Strategic Investments (0.1) 35.2 35.1 — — (35.1) — Net services income (loss) (0.1) 42.8 42.7 (7.4) — (35.3) — Segment income (loss) 16.5 41.4 57.9 (1.5) (12.6) (35.3) 8.5 Net realized and unrealized investment gains (losses) (3.6) 35.1 31.5 Net realized and unrealized investment gains from related party investment funds 153.2 — 153.2 Other net investment income 1.8 — 1.8 Other revenues 46.1 10.8 56.9 Net corporate and other expenses (68.3) (10.6) (78.9) Intangible asset amortization (0.8) — (0.8) Interest expense (4.9) — (4.9) Foreign exchange gains 12.4 — 12.4 Income before income tax expense $ 16.5 $ 41.4 57.9 (1.5) 123.3 — 179.7 Income tax expense — — (9.8) — (9.8) Net income available to SiriusPoint $ 57.9 $ (1.5) $ 113.5 $ — $ 169.9 Underwriting Ratios: (1) Loss ratio 54.2 % 67.0 % 56.4 % 59.9 % Acquisition cost ratio 29.5 % 33.3 % 30.1 % 28.1 % Other underwriting expenses ratio 8.1 % 3.0 % 7.2 % 8.5 % Combined ratio 91.8 % 103.3 % 93.7 % 96.5 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

Cash, cash equivalents, restric

Cash, cash equivalents, restricted cash and restricted investments	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash, cash equivalents, restricted cash and restricted investments	5. Cash, cash equivalents, restricted cash and restricted investments The following table provides a summary of cash and cash equivalents, restricted cash and restricted investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Cash and cash equivalents $ 826.1 $ 999.8 Restricted cash securing letter of credit facilities (1) 580.9 500.2 Restricted cash securing reinsurance contracts (2) 371.9 431.8 Restricted cash held by managing general underwriters 20.0 16.6 Total cash, cash equivalents and restricted cash (3) 1,798.9 1,948.4 Restricted investments securing reinsurance contracts and letter of credit facilities (1) (2) (4) 1,584.7 1,107.0 Total cash, cash equivalents, restricted cash and restricted investments $ 3,383.6 $ 3,055.4 (1) Restricted cash and restricted investments securing letter of credit facilities primarily pertains to letters of credit that have been issued to the Company’s clients in support of our obligations under reinsurance contracts. The Company will not be released from the obligation to provide these letters of credit until the reserves underlying the reinsurance contracts have been settled. The time period for which the Company expects each letter of credit to be in place varies from contract to contract, but can last several years. (2) Restricted cash and restricted investments securing reinsurance contracts pertain to trust accounts securing the Company’s contractual obligations under certain reinsurance contracts that the Company will not be released from until the underlying risks have expired or have been settled. Restricted investments include certain investments in debt securities, short-term investments and limited partnership interests in Third Point Enhanced LP. The time period for which the Company expects these trust accounts to be in place varies from contract to contract, but can last several years. (3) Cash, cash equivalents and restricted cash as reported in the Company’s consolidated statements of cash flows. (4) Restricted investments include required deposits with certain insurance state regulatory agencies in order to maintain insurance licenses.

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	6. Fair value measurements U.S. GAAP disclosure requirements establish a framework for measuring fair value, including a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. The three-level hierarchy of inputs is summarized below: • Level 1 – Quoted prices available in active markets/exchanges for identical investments as of the reporting date. • Level 2 – Observable inputs to the valuation methodology other than unadjusted quoted market prices for identical assets or liabilities in active markets. Level 2 inputs include, but are not limited to, prices quoted for similar assets or liabilities in active markets/exchanges, prices quoted for identical or similar assets or liabilities in markets that are not active and fair values determined through the use of models or other valuation methodologies. • Level 3 – Inputs are based all or in part on significant unobservable inputs for the investment, and include situations where there is little, if any, market activity for the investment. The inputs applied in the determination of fair value require significant management judgment and estimation. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. For example, the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources other than those of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and considers factors specific to the investment. The following tables present the Company’s investments, categorized by the level of the fair value hierarchy as of March 31, 2022 and December 31, 2021: March 31, 2022 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Asset-backed securities $ — $ 718.1 $ — $ 718.1 Residential mortgage-backed securities — 393.0 — 393.0 Commercial mortgage-backed securities — 132.7 — 132.7 Corporate debt securities — 752.3 — 752.3 U.S. government and government agency 476.9 12.2 — 489.1 Non-U.S. government and government agency 20.9 113.4 — 134.3 Preferred stocks — — 3.3 3.3 Total debt securities 497.8 2,121.7 3.3 2,622.8 Fixed income mutual funds 2.5 — — 2.5 Common stocks 0.2 — — 0.2 Total equity securities 2.7 — — 2.7 Short-term investments 986.4 2.6 — 989.0 Other long-term investments — — 315.2 315.2 Derivative assets — — (0.6) (0.6) $ 1,486.9 $ 2,124.3 $ 317.9 3,929.1 Investments in funds valued at NAV 801.6 Total assets $ 4,730.7 Liabilities Total securities sold, not yet purchased $ 64.0 $ — $ — $ 64.0 Liability-classified capital instruments — 33.9 42.1 76.0 Derivative liabilities — — 2.9 2.9 Total liabilities $ 64.0 $ 33.9 $ 45.0 $ 142.9 December 31, 2021 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Asset-backed securities $ — $ 513.1 $ — $ 513.1 Residential mortgage-backed securities — 301.9 — 301.9 Commercial mortgage-backed securities — 147.3 — 147.3 Corporate debt securities — 602.6 — 602.6 U.S. Government and government agency 360.9 24.5 — 385.4 Non-U.S. government and government agency 17.8 114.5 — 132.3 U.S. States, municipalities, and political subdivision — 0.2 — 0.2 Preferred stocks — — 2.8 2.8 Total debt securities 378.7 1,704.1 2.8 2,085.6 Fixed income mutual funds 2.1 — — 2.1 Common stocks 0.7 — — 0.7 Total equity securities 2.8 — — 2.8 Short-term investments 1,073.2 2.6 — 1,075.8 Other long-term investments — — 336.9 336.9 Derivative assets 0.2 — 0.4 0.6 $ 1,454.9 $ 1,706.7 $ 340.1 3,501.7 Investments in funds valued at NAV 1,028.8 Total assets $ 4,530.5 Liabilities Liability-classified capital instruments $ — $ 30.6 $ 57.2 $ 87.8 Derivative liabilities — — 3.2 3.2 Total liabilities $ — $ 30.6 $ 60.4 $ 91.0 During the three months ended March 31, 2022, the Company m ade $nil (December 31, 2021 - $nil) of reclassifications of assets or liabilities between Levels 2 and 3. Valuation techniques The Company uses outside pricing services to assist in determining fair values for its investments. For investments in active markets, the Company uses the quoted market prices provided by outside pricing services to determine fair value. The outside pricing services the Company uses have indicated that they will only provide prices where observable inputs are available. In circumstances where quoted market prices are unavailable or are not considered reasonable, the Company estimates the fair value using industry standard pricing models and observable inputs such as benchmark yields, reported trades, broker-dealer quotes, issuer spreads, benchmark securities, bids, offers, prepayment speeds, reference data including research publications, and other relevant inputs. Given that many debt securities do not trade on a daily basis, the outside pricing services evaluate a wide range of fixed maturity investments by regularly drawing parallels from recent trades and quotes of comparable securities with similar features. The characteristics used to identify comparable debt securities vary by asset type and take into account market convention. The techniques and inputs specific to asset classes within the Company’s debt securities and short-term investments for Level 2 securities that use observable inputs are as follows: Asset-backed and mortgage-backed securities The fair value of mortgage and asset-backed securities is primarily priced by pricing services using a pricing model that uses information from market sources and leveraging similar securities. Key inputs include benchmark yields, reported trades, underlying tranche cash flow data, collateral performance, plus new issue data, as well as broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including issuer, vintage, loan type, collateral attributes, prepayment speeds, default rates, recovery rates, cash flow stress testing, credit quality ratings and market research publications. Corporate debt securities Corporate debt securities consist primarily of investment-grade debt of a wide variety of U.S. and non-U.S. corporate issuers and industries. The corporate fixed maturity investments are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources regarding the issuer of the security and obtain credit data, as well as other observations, from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The pricing services also consider the specific terms and conditions of the securities, including any specific features which may influence risk. U.S. government and government agency U.S. government and government agency securities consist primarily of debt securities issued by the U.S. Treasury and mortgage pass-through agencies such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. Fixed maturity investments included in U.S. government and government agency securities are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources and integrate other observations from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The fair value of each security is individually computed using analytical models which incorporate option adjusted spreads and other daily interest rate data. Non-U.S. government and government agency Non-U.S. government and government agency securities consist of debt securities issued by non-U.S. governments and their agencies along with supranational organizations (also known as sovereign debt securities). Securities held in these sectors are primarily priced by pricing services who employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets. U.S. states, municipalities, and political subdivisions The U.S. states, municipalities and political subdivisions portfolio contains debt securities issued by U.S. domiciled state and municipal entities. These securities are generally priced by independent pricing services using the techniques for U.S. government and government agency securities. Preferred stocks The fair value of preferred stocks is generally priced by independent pricing services using an evaluated pricing model that calculates the appropriate spread over a comparable security for each issue. Key inputs include exchange prices (underlying and common stock of same issuer), benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including sector, coupon, credit quality ratings, duration, credit enhancements, early redemption features and market research publications. Short-term investments Short-term investments consist of U.S. treasury bills, certificates of deposit and other securities, which, at the time of purchase, mature within a period of greater than three months but less than one year. These investments are generally priced by independent pricing services using the techniques described for U.S. government and government agency securities and Corporate debt securities described above. Investments measured using Net Asset Value The Company values its investments in limited partnerships, including its investments in related party investment funds, at fair value. The Company has elected the practical expedient for fair value for these investments which is estimated based on the Company’s share of the net asset value (“NAV”) of the limited partnerships, as provided by the independent fund administrator, as the Company believes it represents the most meaningful measurement basis for the investment assets and liabilities. The NAV represents the Company’s proportionate interest in the members’ equity of the limited partnerships. The fair value of the Company's investments in certain hedge funds and certain private equity funds are also determined using NAV. The hedge fund's administrator provides quarterly updates of fair value in the form of the Company's proportional interest in the underlying fund's NAV, which is deemed to approximate fair value, generally with a three month delay in valuation. The private equity funds provide quarterly or semi-annual partnership capital statements with a three or six month delay which are used as a basis for valuation. These private equity investments vary in investment strategies and are not actively traded in any open markets. Due to a lag in reporting, some of the fund managers, fund administrators, or both, are unable to provide final fund valuations as of the Company's reporting date. In these circumstances, the Company estimates the return of the current period and uses all credible information available. This includes utilizing preliminary estimates reported by its fund managers and using other information that is available to the Company with respect to the underlying investments, as necessary. In order to assess the reasonableness of the NAVs, the Company performs a number of monitoring procedures on a monthly, quarterly and annual basis, to assess the quality of the information provided by the investment manager and fund administrator underlying the preparation of the NAV. These procedures include, but are not limited to, regular review and discussion of the fund’s performance with the investment manager. These investments are included in investment in funds valued at NAV and excluded from the presentation of investments categorized by the level of the fair value hierarchy. Level 3 Investments Level 3 valuations are generated from techniques that use assumptions not observable in the market. These unobservable assumptions reflect the Company's assumptions, that market participants would use in valuing the investment. Generally, certain securities may start out as Level 3 when they are originally issued but as observable inputs become available in the market, they may be reclassified to Level 2. The Company employs a number of procedures to assess the reasonableness of the fair value measurements for its other long-term investments, including obtaining and reviewing the audited annual financial statements of hedge funds and private equity funds and periodically discussing each fund's pricing with the fund manager. However, since the fund managers do not provide sufficient information to evaluate the pricing inputs and methods for each underlying investment, the inputs are considered to be unobservable. The fair values of the Company's investments in private equity securities, private debt instruments, certain private equity funds, and certain hedge funds have been classified as Level 3 measurements. They are carried at fair value and in the case of private equity securities and private debt instruments are initially valued based on transaction price and their valuation is subsequently estimated based on available evidence such as a market transaction in similar instruments and other financial information for the issuer. For Strategic Investments carried at fair value, management either engages a third-party valuation specialist to assist in determination of the fair value based on commonly accepted valuation methods (i.e., income approach, market approach) as of the valuation date or performs valuation internally. In addition, investors fair value analyses prepared by third party valuation specialists working with Strategic Investment operating management are referenced where available. See Note 10 for additional information on the fair values of derivative financial instruments used for both risk management and investment purposes. Underwriting-related derivatives Underwriting-related derivatives include reinsurance contracts that are accounted for as derivatives. These derivative contracts are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair values of these derivatives are determined using internally developed discounted cash flow models. As the significant inputs used to price these derivatives are unobservable, the fair values of these contracts are classified as Level 3. The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three months ended March 31, 2022 and 2021: January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired (1) Sales Realized and Unrealized Gains (Losses) (2) March 31, Assets Preferred stocks $ 2.8 $ — $ — $ — $ — $ 0.5 $ 3.3 Other long-term investments 336.9 (40.6) 34.2 — (10.0) (5.2) 315.3 Derivative assets 0.4 — — — (1.7) (1.1) (2.4) Total assets $ 340.1 $ (40.6) $ 34.2 $ — $ (11.7) $ (5.8) $ 316.2 Liabilities Liability-classified capital instruments $ (57.2) $ — $ — $ — $ — $ 15.1 $ (42.1) Derivative liabilities (3.2) — (1.9) — — 0.3 (4.8) Total liabilities $ (60.4) $ — $ (1.9) $ — $ — $ 15.4 $ (46.9) January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired (1) Sales Realized and Unrealized Gains (Losses) (2) March 31, Assets Preferred stocks $ — $ — $ — $ 2.8 $ — $ — $ 2.8 Other long-term investments 4.0 — 13.6 259.0 — — 276.6 Derivative assets 1.2 — — 0.3 (1.0) 35.6 36.1 Loan participations — — — 32.8 — 1.7 34.5 Total assets $ 5.2 $ — $ 13.6 $ 294.9 $ (1.0) $ 37.3 $ 350.0 Liabilities Liability-classified capital instruments $ — $ — $ (135.0) $ — $ — $ — $ (135.0) Contingent consideration — — — (0.7) — (0.8) (1.5) Derivative liabilities (1.0) — — (2.0) — (0.5) (3.5) Total liabilities $ (1.0) $ — $ (135.0) $ (2.7) $ — $ (1.3) $ (140.0) (1) Includes amounts acquired as a result of the Sirius Group acquisition. (2) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in total realized and unrealized investment gains (losses) and net investment income (loss) in the consolidated statements of income (loss). Realized and unrealized gains (losses) related to underwriting-related derivative assets and liabilities are included in other underwriting expenses, net of foreign exchange (gains) losses, in the consolidated statements of income (loss). For assets and liabilities that were transferred into Level 3 during the period, gains (losses) are presented as if the assets or liabilities had been transferred into Level 3 at the beginning of the period; similarly, for assets and liabilities that were transferred out of Level 3 during the period, gains (losses) are presented as if the assets or liabilities had been transferred out of Level 3 at the beginning of the period. Financial instruments disclosed, but not carried at fair value The Company uses various financial instruments in the normal course of its business. The carrying values of cash, accrued investment income, certain other assets, certain other liabilities, and other financial instruments not included in the table below approximated their fair values at March 31, 2022 and December 31, 2021, due to their respective short maturities. The following table includes financial instruments for which the carrying value differs from the estimated fair values at March 31, 2022 and December 31, 2021. The fair values of the below financial instruments are based on observable inputs and are considered Level 2 measurements. March 31, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value 2017 SEK Subordinated Notes $ 293.6 $ 288.3 $ 302.3 $ 296.3 2016 Senior Notes 391.4 405.7 412.8 406.0 2015 Senior Notes 114.9 114.5 120.5 114.4 Series B preference shares $ 210.2 $ 200.0 $ 220.9 $ 200.0

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	7. Investments The Company’s invested assets consist of investment securities and other long-term investments held for general investment purposes. The portfolio of investment securities includes debt securities, short-term investments, equity securities, and other-long term investments which are all classified as trading securities. Realized and unrealized investment gains and losses on trading securities are reported in pre-tax revenues. Debt securities The following tables provide the cost or amortized cost, gross unrealized investment gains (losses), net foreign currency gains (losses), and fair value of the Company's debt securities as of March 31, 2022 and December 31, 2021: March 31, 2022 Cost or Gross Gross Net foreign Fair value Asset-backed securities $ 723.6 $ 0.7 $ (6.2) $ — $ 718.1 Residential mortgage-backed securities 413.9 — (20.9) — 393.0 Commercial mortgage-backed securities 139.6 0.2 (7.1) — 132.7 Corporate debt securities 774.7 1.1 (24.1) 0.6 752.3 U.S. government and government agency (1) 503.2 — (14.1) — 489.1 Non-U.S. government and government agency 138.9 — (4.6) — 134.3 Preferred stocks 2.6 0.7 — — 3.3 Total debt securities $ 2,696.5 $ 2.7 $ (77.0) $ 0.6 $ 2,622.8 (1) The Company had $64.0 million of short positions in long duration U.S. Treasuries as of March 31, 2022. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. December 31, 2021 Cost or Gross Gross Net foreign Fair value Asset-backed securities $ 512.6 $ 0.9 $ (0.4) $ — $ 513.1 Residential mortgage-backed securities 306.5 — (4.6) — 301.9 Commercial mortgage-backed securities 148.4 0.6 (1.7) — 147.3 Corporate debt securities 605.5 0.6 (3.5) — 602.6 U.S. government and government agency (1) 388.1 0.1 (2.8) — 385.4 Non-U.S. government and government agency 135.4 0.3 (2.6) (0.8) 132.3 U.S. states, municipalities and political subdivision 0.2 — — — 0.2 Preferred stocks 2.6 0.2 — — 2.8 Total debt securities $ 2,099.3 $ 2.7 $ (15.6) $ (0.8) $ 2,085.6 (1) The Company had $nil of short positions in long duration U.S. Treasuries as of December 31, 2021. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. The weighted average duration of the Company's debt securities as of March 31, 2022 was approximately 1.8 years, including short-term investments, and approximately 2.4 years excluding short-term investments (December 31, 2021 - 1.6 years and 2.3 years, respectively). The following table provides the cost or amortized cost and fair value of the Company's debt securities as of March 31, 2022 and December 31, 2021 by contractual maturity. Actual maturities could differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with or without call or prepayment penalties. March 31, 2022 December 31, 2021 Cost or Fair value Cost or Fair value Due in one year or less $ 174.2 $ 172.7 $ 145.6 $ 145.1 Due after one year through five years 1,012.1 980.4 870.4 862.4 Due after five years through ten years 153.7 146.5 69.6 68.6 Due after ten years 76.9 76.1 43.6 44.4 Mortgage-backed and asset-backed securities 1,277.0 1,243.8 967.5 962.3 Preferred stocks 2.6 3.3 2.6 2.8 Total debt securities $ 2,696.5 $ 2,622.8 $ 2,099.3 $ 2,085.6 The following table summarizes the ratings and fair value of debt securities held in the Company's investment portfolio as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 AAA $ 762.9 $ 696.4 AA 1,073.8 884.1 A 340.4 278.5 BBB 297.9 153.1 Other 147.8 73.5 Total debt securities (1) $ 2,622.8 $ 2,085.6 (1) Credit ratings are assigned based on the following hierarchy: (1) Standard & Poor's ("S&P") and (2) Moody's Investors Service. As of March 31, 2022, the above totals included $67.3 million of sub-prime securities. Of this total, $39.9 million was rated AAA, $26.6 million rated AA, $0.4 million rated A and $0.4 million unrated. As of December 31, 2021, the above totals included $51.8 million of sub-prime securities. Of this total, $35.1 million was rated AAA, $16.1 million rated AA and $0.6 million rated A. Equity securities and other long-term investments The cost or amortized cost, gross unrealized investment gains and losses, net foreign currency gains, and fair values of the Company’s equity securities and other long-term investments as of March 31, 2022 and December 31, 2021, were as follows: March 31, 2022 Cost or Gross Gross Net foreign Fair value Equity securities $ 1.8 $ 0.9 $ — $ — $ 2.7 Other long-term investments $ 458.2 $ 26.7 $ (48.1) $ 1.4 $ 438.2 December 31, 2021 Cost or Gross Gross Net foreign Fair value Equity securities $ 4.5 $ 0.1 $ (2.0) $ 0.2 $ 2.8 Other long-term investments $ 443.0 $ 28.9 $ (16.8) $ 1.0 $ 456.1 Equity securities at fair value consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Fixed income mutual funds $ 2.5 $ 2.1 Common stocks 0.2 0.7 Total equity securities $ 2.7 $ 2.8 The carrying value of Other long-term investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Hedge funds and private equity funds (1) $ 152.4 $ 195.7 Strategic Investments (2) 245.8 215.3 Limited liability companies and private equity securities (2) 40.0 45.1 Total other long-term investments $ 438.2 $ 456.1 (1) Includes $118.4 million of investments valued at NAV (December 31, 2021 - $115.2 million) and $34.0 million of investments valued at Level 3 ( December 31, 2021 - $80.5 million) . (2) As of March 31, 2022, the Company had $10.4 million of unfunded commitments relating to these investments ( December 31, 2021 - $13.8 million). Hedge funds and private equity funds The Company holds investments in hedge funds and private equity funds, which are included in other long-term investments. T he following table summarizes investments in hedge funds and private equity interests by investment objective and sector as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Fair value Unfunded Fair value Unfunded Hedge funds Long/short multi-sector $ 15.3 $ — $ 19.8 $ — Distressed mortgage credit 12.8 — 24.6 — Private credit 25.1 — 24.2 — Other 1.4 — 1.7 — Total hedge funds 54.6 — 70.3 — Private equity funds Energy infrastructure & services 55.2 15.4 48.4 19.0 Multi-sector 8.4 5.1 10.1 5.1 Healthcare 16.0 0.3 31.0 2.2 Life settlement 14.8 — 12.9 — Manufacturing/Industrial — — 19.9 — Private equity secondaries 0.6 0.4 0.5 0.4 Other 2.8 — 2.6 — Total private equity funds 97.8 21.2 125.4 26.7 Total hedge and private equity funds included in other long-term investments $ 152.4 $ 21.2 $ 195.7 $ 26.7 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund. See “Investments in related party investment funds” below for additional information. Redemption of investments in certain hedge funds is subject to restrictions including lock-up periods where no redemptions or withdrawals are allowed, restrictions on redemption frequency, and advance notice periods for redemptions. Amounts requested for redemptions remain subject to market fluctuations until the redemption effective date, which generally falls at the end of the defined redemption period. The following summarizes the March 31, 2022 fair value of hedge funds subject to restrictions on redemption frequency and advance notice period requirements for investments in active hedge funds: Notice Period Redemption Frequency 1-29 days 30-59 days 60-89 days 90-119 days 120+ days Total Quarterly $ — $ 0.1 $ 15.3 $ 12.9 $ — $ 28.3 Semi-annual — — 0.6 — — 0.6 Annual — — — 0.6 25.1 25.7 Total $ — $ 0.1 $ 15.9 $ 13.5 $ 25.1 $ 54.6 Certain of the hedge fund and private equity fund investments in which the Company is invested are no longer active and are in the process of disposing of their underlying investments. Distributions from such funds are remitted to investors as the fund’s underlying investments are liquidated. As of March 31, 2022, $40.7 million in distributions were outstanding from these investments. Investments in private equity and other investment funds may be subject to a lock-up or commitment period during which investors may not request a redemption prior to the expected termination date. Distributions prior to the expected termination date of the fund may be limited to dividends or proceeds arising from the liquidation of the fund’s underlying investments. In addition, certain private equity funds provide an option to extend the lock-up or commitment periods at either the sole discretion of the fund manager or upon agreement between the fund and the investors. As of March 31, 2022, investments in private equity funds were subject to lock-up periods as follows: 1 - 3 years 3 – 5 years 5 – 10 years Total Private equity funds – expected lock-up or commitment period remaining $ 53.0 $ 27.9 $ 16.9 $ 97.8 Investments in related party investment funds The following table provides the cost and fair value of the Company's investments in related party investment funds as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Cost Fair value Cost Fair value Third Point Enhanced LP $ 316.0 $ 649.9 $ 416.0 $ 878.2 Third Point Venture Offshore Fund I LP 25.9 28.7 25.9 31.4 Investments in related party investment funds, at fair value $ 341.9 $ 678.6 $ 441.9 $ 909.6 Investment in Third Point Enhanced LP On February 23, 2022, the Company entered into the Fourth Amended and Restated Exempted Limited Partnership Agreement of Third Point Enhanced LP (“ TP Enhanced Fund ”) with Third Point Advisors LLC (“TP GP”) and the other parties thereto (the “2022 LPA”), which amended and restated the Third Amended and Restated Exempted Limited Partnership Agreement dated August 6, 2020 (the “2020 LPA”). The TP Enhanced Fund investment strategy, as implemented by Third Point LLC, is intended to achieve superior risk-adjusted returns by deploying capital in both long and short investments with favorable risk/reward characteristics across select asset classes, sectors and geographies. Third Point LLC identifies investment opportunities via a bottom-up, value-oriented approach to single security analysis supplemented by a top-down view of portfolio and risk management. Third Point LLC seeks dislocations in certain areas of the capital markets or in the pricing of particular securities and supplements single security analysis with an approach to portfolio construction that includes sizing each investment based on upside/downside calculations, all with a view towards appropriately positioning and managing overall exposures. The 2020 LPA was amended and restated to, among other things: • add the right to withdraw the Company’s capital accounts in TP Enhanced Fund as of any month-end in accordance with an agreed withdrawal schedule to be reinvested in a newly established Third Point Optimized Credit portfolio (the “TPOC Portfolio”) or other Third Point strategies (“TPE Withdrawn Amounts”); • remove restrictions on the Company’s withdrawal rights following a change of control with respect to the Company; • authorize the Company’s Chief Investment Officer to exercise all decisions under the 2022 LPA, without the need for separate approval from the Investment Committee of the Company’s Board of Directors; • provide that the Company may amend the investment guidelines of the 2022 LPA from time to time for risk management purposes in consultation with TP GP; • provide that the Company and TP GP may discuss the adoption of new risk parameters for TP Enhanced Fund from time to time, and TP GP will work with the Company to create additional risk management guidelines responsive to the Company’s needs that do not fundamentally alter the general investment strategy or investment approach of TP Enhanced Fund ; • provide that the Company may increase or decrease TP Enhanced Fund ’s leverage targets upon reasonable prior notice to meet the business needs of the Company; and • revise the “cause event” materiality qualifier with respect to violations of law related to Third Point LLC’s investment-related business and Third Point LLC being subject to regulatory proceedings to include events that will likely have a material adverse effect on Third Point LLC’s ability to provide investment management services to TP Enhanced Fund and/or the TPOC Portfolio. All other material terms of the 2022 LPA remain consistent with the 2020 LPA. Amended and Restated Investment Management Agreement On February 23, 2022, the Company entered into an Amended and Restated Investment Management Agreement (the “2022 IMA”) with Third Point LLC and the other parties thereto, which amended and restated the Investment Management Agreement dated August 6, 2020. Pursuant to the 2022 IMA, Third Point LLC provides discretionary investment management services with respect to a newly established TPOC Portfolio, subject to investment and risk management guidelines, and continues to provide certain non-discretionary investment advisory services to the Company. The Company agreed to contribute to the TPOC Portfolio amounts withdrawn from TP Enhanced Fund on January 31, 2022 that were not invested or committed for investment in other Third Point strategies. The 2022 IMA contains revised term and termination rights, withdrawal rights, incentive fees, management fees, investment guidelines and advisory fees. For the investment management services provided in respect of the TPOC Portfolio, the Company will pay Third Point LLC, from the assets of each sub-account, an annual incentive fee equal to 15% of outperformance over a specified benchmark. The Company will also pay Third Point LLC a monthly management fee equal to one twelfth of 0.50% (0.50% per annum) of the TPOC Portfolio, net of any expenses, and a fixed advisory fee for the advisory services equal to 1/4 of $1,500,000 per quarter. Under the 2022 IMA, the Company may withdraw any amount from the TPOC Portfolio as of any month-end up to (i) the full balance of any sub-account established in respect of any capital contribution not in respect of TPE Withdrawn Amounts and (ii) any net profits in respect of any other sub-account. The Company may withdraw the TPOC Portfolio in full on March 31, 2026, and each successive anniversary of such date. The Company will have the right to withdraw funds monthly from the TPOC Portfolio upon the occurrence of certain events specified in the 2022 IMA, including, within 120 days following the occurrence of a Cause Event (as defined in the 2022 LPA), to meet capital adequacy requirements, to prevent a negative credit rating, for risk management purposes, underperformance of the TPOC Portfolio relative to investment funds managed by third-party managers and pursuing the same or substantially similar investment strategy as the TPOC Portfolio (i.e., which measure performance relative to the benchmark) for two or more consecutive calendar years or a Key Person Event (as defined in the 2022 LPA), subject to certain limitations on such withdrawals as specified in the 2022 IMA. The Company is also entitled to withdraw funds from the TPOC Portfolio in order to satisfy its risk management guidelines, upon prior written notice to Third Point LLC, in an amount not to exceed the Risk Management Withdrawable Amount (as defined in the 2022 LPA). As of March 31, 2022, the Company h ad no unfunded commitments related to TP Enhanced Fund . Investment in Third Point Venture Offshore Fund I LP On March 1, 2021, SiriusPoint Bermuda entered into the Amended and Restated Exempted Limited Partnership Agreement (“2021 Venture LPA”) of Third Point Venture Offshore Fund I LP (“TP Venture Fund”) which became effective on March 1, 2021. In accordance with the 2021 Venture LPA, Third Point Venture GP LLC (“TP Venture GP”) serves as the general partner of TP Venture Fund. The TP Venture Fund investment strategy, as implemented by Third Point LLC, is to generate attractive risk-adjusted returns through a concentrated portfolio of investments in privately-held companies, primarily in the expansion through late/pre-IPO stage. The TP Venture Fund may also invest in early stage companies. Due to the nature of the fund, withdrawals are not permitted. Distributions prior to the expected termination date of the fund include, but are not limited to, dividends or proceeds arising from the liquidation of the fund's underlying investments. As of March 31, 2022, the Company had $12.7 million of unfunded commitments related to TP Venture Fund . As of March 31, 2022, the Company holds interests of approximately 16.8% of the net asset value of TP Venture Fund. 9. Investments in unconsolidated entities The Company’s investments in unconsolidated entities are included within other long-term investments and consist of investments in common equity securities or similar instruments, which give the Company the ability to exert significant influence over the investee's operating and financial policies. Such investments may be accounted for under either the equity method (“equity method investments”) or, alternatively, the Company may elect to account for them under the fair value option (“equity method eligible unconsolidated entities”). The following table presents the components of other long-term investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Equity method eligible unconsolidated entities, using the fair value option (1) (3) $ 216.8 $ 225.3 Equity method investments 26.0 26.7 Other unconsolidated investments, at fair value (2) 157.8 198.0 Other unconsolidated investments, at cost (3) 37.6 6.0 Total other long-term investments $ 438.2 $ 456.1 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund which are equity method eligible but are carried outside of other long-term investments. See Notes 7 and 11 for additional information on these related party investment funds. (2) Includes other long-term investments that are not equity method eligible and are measured at fair value. (3) The Company has elected to apply the cost minus impairment measurement alternative to investments that do not meet the criteria to be accounted for under the equity method, in which the investment is measured at cost and remeasured to fair value when impaired or upon observable transaction prices. The Company has historically elected the fair value option to account for its equity method eligible investments in order to be consistent with the remainder of its investments portfolio which is accounted for at fair value. Prospectively, the company no longer expects to exercise the fair value option for the majority of its new equity method eligible investments. The following table presents the Company’s significant equity method investee entities under fair value option in which it holds 20 percent or more (5 percent or more for limited partnerships and limited liability companies) of the ownership interest as of March 31, 2022: March 31, 2022 December 31, 2021 Investee Fair value Ownership interest Fair value Ownership interest Instrument held BE Reinsurance Limited $ 14.8 24.9 % $ 15.2 24.9 % Common shares BioVentures Investors (Offshore) IV LP 16.0 73.0 % 16.6 73.0 % Units Diamond LS I LP 8.8 15.3 % 7.1 15.3 % Units Gateway Fund LP 4.6 18.1 % 4.0 18.1 % Units Monarch Alternative Capital, LP 6.0 12.8 % 5.7 12.8 % Units New Energy Capital Infrastructure Credit Fund LP 22.4 18.3 % 20.1 18.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 14.9 12.2 % 13.4 12.2 % Units Great Bay LLC 1.0 11.1 % 1.0 11.1 % Units Tuckerman Capital V LP — — % 11.3 42.1 % Units Tuckerman Capital V Co-Investment I LP $ — — % $ 8.6 47.3 % Units (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund. See Notes 7 and 11 for additional information on these related party investment funds.

Total realized and unrealized i

Total realized and unrealized investment gains (losses) and net investment income (loss)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Total realized and unrealized investment gains (losses) and net investment income (loss)	8. Total realized and unrealized investment gains (losses) and net investment income (loss) Total realized and unrealized investment gains (losses) and net investment income (loss) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Debt securities $ (59.3) $ (7.8) Short-term investments (1.7) — Equity securities (0.1) 0.3 Other long-term investments (1.0) 49.2 Net realized and unrealized investment gains (losses) from related party investment funds (131.0) 153.2 Realized and unrealized investment gains (losses) and net investment income (loss) before other investment expenses and investment loss on cash and cash equivalents (193.1) 194.9 Other investment expenses (4.2) (1.0) Net investment loss on cash and cash equivalents (7.8) (7.4) Total realized and unrealized investment gains (losses) and net investment income (loss) $ (205.1) $ 186.5 Net realized and unrealized gains (losses) on investments Net realized and unrealized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Gross realized gains $ 11.2 $ 19.3 Gross realized losses (13.8) (0.4) Net realized (losses) gains on investments (2.6) 18.9 Net unrealized gains (losses) on investments (79.3) 12.6 Net realized and unrealized gains (losses) on investments (1) (2) $ (81.9) $ 31.5 (1) Excludes realized and unrealized gains (losses) on the Company’s investments in related party investment funds. (2) Includes net realized and unrealized gains of $1.6 million from related party investments included in other long-term investments for the three months ended March 31, 2022 (2021 - $44.9 million). Net realized investment gains (losses) Net realized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Debt securities $ (4.2) $ 6.3 Short-term investments (0.2) — Equity securities (2.3) 0.4 Other long-term investments 0.3 9.9 Net investment income on cash and cash equivalents 3.8 2.3 Net realized investment gains (losses) (1) $ (2.6) $ 18.9 (1) Includes realized gains due to foreign currency of $2.8 million for the three months ended March 31, 2022 (2021 - $2.1 million). Net unrealized investment gains (losses) Net unrealized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Debt securities (1) $ (64.1) $ (16.9) Short-term investments (2.0) — Equity securities 2.1 (0.1) Other long-term investments (3.2) 39.3 Net investment loss on cash and cash equivalents (12.1) (9.7) Net unrealized investment gains (losses) (2) $ (79.3) $ 12.6 (1) Includes unrealized losses, excluding foreign currency, of $(60.1) million for the three months ended March 31, 2022. (2) Includes unrealized gains (losses) due to foreign currency of $(9.4) million for the three months ended March 31, 2022 (2021 - $(16.3) million). The following table summarizes the amount of total gains (losses) included in earnings attributable to unrealized investment gains (losses) – Level 3 investments for the three months ended March 31, 2022 and 2021: 2022 2021 Debt securities $ 0.5 $ — Other long-term investments (3.9) 35.6 Total unrealized investment gains (losses) – Level 3 investments $ (3.4) $ 35.6

Investments in unconsolidated e

Investments in unconsolidated entities	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments in unconsolidated entities	7. Investments The Company’s invested assets consist of investment securities and other long-term investments held for general investment purposes. The portfolio of investment securities includes debt securities, short-term investments, equity securities, and other-long term investments which are all classified as trading securities. Realized and unrealized investment gains and losses on trading securities are reported in pre-tax revenues. Debt securities The following tables provide the cost or amortized cost, gross unrealized investment gains (losses), net foreign currency gains (losses), and fair value of the Company's debt securities as of March 31, 2022 and December 31, 2021: March 31, 2022 Cost or Gross Gross Net foreign Fair value Asset-backed securities $ 723.6 $ 0.7 $ (6.2) $ — $ 718.1 Residential mortgage-backed securities 413.9 — (20.9) — 393.0 Commercial mortgage-backed securities 139.6 0.2 (7.1) — 132.7 Corporate debt securities 774.7 1.1 (24.1) 0.6 752.3 U.S. government and government agency (1) 503.2 — (14.1) — 489.1 Non-U.S. government and government agency 138.9 — (4.6) — 134.3 Preferred stocks 2.6 0.7 — — 3.3 Total debt securities $ 2,696.5 $ 2.7 $ (77.0) $ 0.6 $ 2,622.8 (1) The Company had $64.0 million of short positions in long duration U.S. Treasuries as of March 31, 2022. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. December 31, 2021 Cost or Gross Gross Net foreign Fair value Asset-backed securities $ 512.6 $ 0.9 $ (0.4) $ — $ 513.1 Residential mortgage-backed securities 306.5 — (4.6) — 301.9 Commercial mortgage-backed securities 148.4 0.6 (1.7) — 147.3 Corporate debt securities 605.5 0.6 (3.5) — 602.6 U.S. government and government agency (1) 388.1 0.1 (2.8) — 385.4 Non-U.S. government and government agency 135.4 0.3 (2.6) (0.8) 132.3 U.S. states, municipalities and political subdivision 0.2 — — — 0.2 Preferred stocks 2.6 0.2 — — 2.8 Total debt securities $ 2,099.3 $ 2.7 $ (15.6) $ (0.8) $ 2,085.6 (1) The Company had $nil of short positions in long duration U.S. Treasuries as of December 31, 2021. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. The weighted average duration of the Company's debt securities as of March 31, 2022 was approximately 1.8 years, including short-term investments, and approximately 2.4 years excluding short-term investments (December 31, 2021 - 1.6 years and 2.3 years, respectively). The following table provides the cost or amortized cost and fair value of the Company's debt securities as of March 31, 2022 and December 31, 2021 by contractual maturity. Actual maturities could differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with or without call or prepayment penalties. March 31, 2022 December 31, 2021 Cost or Fair value Cost or Fair value Due in one year or less $ 174.2 $ 172.7 $ 145.6 $ 145.1 Due after one year through five years 1,012.1 980.4 870.4 862.4 Due after five years through ten years 153.7 146.5 69.6 68.6 Due after ten years 76.9 76.1 43.6 44.4 Mortgage-backed and asset-backed securities 1,277.0 1,243.8 967.5 962.3 Preferred stocks 2.6 3.3 2.6 2.8 Total debt securities $ 2,696.5 $ 2,622.8 $ 2,099.3 $ 2,085.6 The following table summarizes the ratings and fair value of debt securities held in the Company's investment portfolio as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 AAA $ 762.9 $ 696.4 AA 1,073.8 884.1 A 340.4 278.5 BBB 297.9 153.1 Other 147.8 73.5 Total debt securities (1) $ 2,622.8 $ 2,085.6 (1) Credit ratings are assigned based on the following hierarchy: (1) Standard & Poor's ("S&P") and (2) Moody's Investors Service. As of March 31, 2022, the above totals included $67.3 million of sub-prime securities. Of this total, $39.9 million was rated AAA, $26.6 million rated AA, $0.4 million rated A and $0.4 million unrated. As of December 31, 2021, the above totals included $51.8 million of sub-prime securities. Of this total, $35.1 million was rated AAA, $16.1 million rated AA and $0.6 million rated A. Equity securities and other long-term investments The cost or amortized cost, gross unrealized investment gains and losses, net foreign currency gains, and fair values of the Company’s equity securities and other long-term investments as of March 31, 2022 and December 31, 2021, were as follows: March 31, 2022 Cost or Gross Gross Net foreign Fair value Equity securities $ 1.8 $ 0.9 $ — $ — $ 2.7 Other long-term investments $ 458.2 $ 26.7 $ (48.1) $ 1.4 $ 438.2 December 31, 2021 Cost or Gross Gross Net foreign Fair value Equity securities $ 4.5 $ 0.1 $ (2.0) $ 0.2 $ 2.8 Other long-term investments $ 443.0 $ 28.9 $ (16.8) $ 1.0 $ 456.1 Equity securities at fair value consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Fixed income mutual funds $ 2.5 $ 2.1 Common stocks 0.2 0.7 Total equity securities $ 2.7 $ 2.8 The carrying value of Other long-term investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Hedge funds and private equity funds (1) $ 152.4 $ 195.7 Strategic Investments (2) 245.8 215.3 Limited liability companies and private equity securities (2) 40.0 45.1 Total other long-term investments $ 438.2 $ 456.1 (1) Includes $118.4 million of investments valued at NAV (December 31, 2021 - $115.2 million) and $34.0 million of investments valued at Level 3 ( December 31, 2021 - $80.5 million) . (2) As of March 31, 2022, the Company had $10.4 million of unfunded commitments relating to these investments ( December 31, 2021 - $13.8 million). Hedge funds and private equity funds The Company holds investments in hedge funds and private equity funds, which are included in other long-term investments. T he following table summarizes investments in hedge funds and private equity interests by investment objective and sector as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Fair value Unfunded Fair value Unfunded Hedge funds Long/short multi-sector $ 15.3 $ — $ 19.8 $ — Distressed mortgage credit 12.8 — 24.6 — Private credit 25.1 — 24.2 — Other 1.4 — 1.7 — Total hedge funds 54.6 — 70.3 — Private equity funds Energy infrastructure & services 55.2 15.4 48.4 19.0 Multi-sector 8.4 5.1 10.1 5.1 Healthcare 16.0 0.3 31.0 2.2 Life settlement 14.8 — 12.9 — Manufacturing/Industrial — — 19.9 — Private equity secondaries 0.6 0.4 0.5 0.4 Other 2.8 — 2.6 — Total private equity funds 97.8 21.2 125.4 26.7 Total hedge and private equity funds included in other long-term investments $ 152.4 $ 21.2 $ 195.7 $ 26.7 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund. See “Investments in related party investment funds” below for additional information. Redemption of investments in certain hedge funds is subject to restrictions including lock-up periods where no redemptions or withdrawals are allowed, restrictions on redemption frequency, and advance notice periods for redemptions. Amounts requested for redemptions remain subject to market fluctuations until the redemption effective date, which generally falls at the end of the defined redemption period. The following summarizes the March 31, 2022 fair value of hedge funds subject to restrictions on redemption frequency and advance notice period requirements for investments in active hedge funds: Notice Period Redemption Frequency 1-29 days 30-59 days 60-89 days 90-119 days 120+ days Total Quarterly $ — $ 0.1 $ 15.3 $ 12.9 $ — $ 28.3 Semi-annual — — 0.6 — — 0.6 Annual — — — 0.6 25.1 25.7 Total $ — $ 0.1 $ 15.9 $ 13.5 $ 25.1 $ 54.6 Certain of the hedge fund and private equity fund investments in which the Company is invested are no longer active and are in the process of disposing of their underlying investments. Distributions from such funds are remitted to investors as the fund’s underlying investments are liquidated. As of March 31, 2022, $40.7 million in distributions were outstanding from these investments. Investments in private equity and other investment funds may be subject to a lock-up or commitment period during which investors may not request a redemption prior to the expected termination date. Distributions prior to the expected termination date of the fund may be limited to dividends or proceeds arising from the liquidation of the fund’s underlying investments. In addition, certain private equity funds provide an option to extend the lock-up or commitment periods at either the sole discretion of the fund manager or upon agreement between the fund and the investors. As of March 31, 2022, investments in private equity funds were subject to lock-up periods as follows: 1 - 3 years 3 – 5 years 5 – 10 years Total Private equity funds – expected lock-up or commitment period remaining $ 53.0 $ 27.9 $ 16.9 $ 97.8 Investments in related party investment funds The following table provides the cost and fair value of the Company's investments in related party investment funds as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Cost Fair value Cost Fair value Third Point Enhanced LP $ 316.0 $ 649.9 $ 416.0 $ 878.2 Third Point Venture Offshore Fund I LP 25.9 28.7 25.9 31.4 Investments in related party investment funds, at fair value $ 341.9 $ 678.6 $ 441.9 $ 909.6 Investment in Third Point Enhanced LP On February 23, 2022, the Company entered into the Fourth Amended and Restated Exempted Limited Partnership Agreement of Third Point Enhanced LP (“ TP Enhanced Fund ”) with Third Point Advisors LLC (“TP GP”) and the other parties thereto (the “2022 LPA”), which amended and restated the Third Amended and Restated Exempted Limited Partnership Agreement dated August 6, 2020 (the “2020 LPA”). The TP Enhanced Fund investment strategy, as implemented by Third Point LLC, is intended to achieve superior risk-adjusted returns by deploying capital in both long and short investments with favorable risk/reward characteristics across select asset classes, sectors and geographies. Third Point LLC identifies investment opportunities via a bottom-up, value-oriented approach to single security analysis supplemented by a top-down view of portfolio and risk management. Third Point LLC seeks dislocations in certain areas of the capital markets or in the pricing of particular securities and supplements single security analysis with an approach to portfolio construction that includes sizing each investment based on upside/downside calculations, all with a view towards appropriately positioning and managing overall exposures. The 2020 LPA was amended and restated to, among other things: • add the right to withdraw the Company’s capital accounts in TP Enhanced Fund as of any month-end in accordance with an agreed withdrawal schedule to be reinvested in a newly established Third Point Optimized Credit portfolio (the “TPOC Portfolio”) or other Third Point strategies (“TPE Withdrawn Amounts”); • remove restrictions on the Company’s withdrawal rights following a change of control with respect to the Company; • authorize the Company’s Chief Investment Officer to exercise all decisions under the 2022 LPA, without the need for separate approval from the Investment Committee of the Company’s Board of Directors; • provide that the Company may amend the investment guidelines of the 2022 LPA from time to time for risk management purposes in consultation with TP GP; • provide that the Company and TP GP may discuss the adoption of new risk parameters for TP Enhanced Fund from time to time, and TP GP will work with the Company to create additional risk management guidelines responsive to the Company’s needs that do not fundamentally alter the general investment strategy or investment approach of TP Enhanced Fund ; • provide that the Company may increase or decrease TP Enhanced Fund ’s leverage targets upon reasonable prior notice to meet the business needs of the Company; and • revise the “cause event” materiality qualifier with respect to violations of law related to Third Point LLC’s investment-related business and Third Point LLC being subject to regulatory proceedings to include events that will likely have a material adverse effect on Third Point LLC’s ability to provide investment management services to TP Enhanced Fund and/or the TPOC Portfolio. All other material terms of the 2022 LPA remain consistent with the 2020 LPA. Amended and Restated Investment Management Agreement On February 23, 2022, the Company entered into an Amended and Restated Investment Management Agreement (the “2022 IMA”) with Third Point LLC and the other parties thereto, which amended and restated the Investment Management Agreement dated August 6, 2020. Pursuant to the 2022 IMA, Third Point LLC provides discretionary investment management services with respect to a newly established TPOC Portfolio, subject to investment and risk management guidelines, and continues to provide certain non-discretionary investment advisory services to the Company. The Company agreed to contribute to the TPOC Portfolio amounts withdrawn from TP Enhanced Fund on January 31, 2022 that were not invested or committed for investment in other Third Point strategies. The 2022 IMA contains revised term and termination rights, withdrawal rights, incentive fees, management fees, investment guidelines and advisory fees. For the investment management services provided in respect of the TPOC Portfolio, the Company will pay Third Point LLC, from the assets of each sub-account, an annual incentive fee equal to 15% of outperformance over a specified benchmark. The Company will also pay Third Point LLC a monthly management fee equal to one twelfth of 0.50% (0.50% per annum) of the TPOC Portfolio, net of any expenses, and a fixed advisory fee for the advisory services equal to 1/4 of $1,500,000 per quarter. Under the 2022 IMA, the Company may withdraw any amount from the TPOC Portfolio as of any month-end up to (i) the full balance of any sub-account established in respect of any capital contribution not in respect of TPE Withdrawn Amounts and (ii) any net profits in respect of any other sub-account. The Company may withdraw the TPOC Portfolio in full on March 31, 2026, and each successive anniversary of such date. The Company will have the right to withdraw funds monthly from the TPOC Portfolio upon the occurrence of certain events specified in the 2022 IMA, including, within 120 days following the occurrence of a Cause Event (as defined in the 2022 LPA), to meet capital adequacy requirements, to prevent a negative credit rating, for risk management purposes, underperformance of the TPOC Portfolio relative to investment funds managed by third-party managers and pursuing the same or substantially similar investment strategy as the TPOC Portfolio (i.e., which measure performance relative to the benchmark) for two or more consecutive calendar years or a Key Person Event (as defined in the 2022 LPA), subject to certain limitations on such withdrawals as specified in the 2022 IMA. The Company is also entitled to withdraw funds from the TPOC Portfolio in order to satisfy its risk management guidelines, upon prior written notice to Third Point LLC, in an amount not to exceed the Risk Management Withdrawable Amount (as defined in the 2022 LPA). As of March 31, 2022, the Company h ad no unfunded commitments related to TP Enhanced Fund . Investment in Third Point Venture Offshore Fund I LP On March 1, 2021, SiriusPoint Bermuda entered into the Amended and Restated Exempted Limited Partnership Agreement (“2021 Venture LPA”) of Third Point Venture Offshore Fund I LP (“TP Venture Fund”) which became effective on March 1, 2021. In accordance with the 2021 Venture LPA, Third Point Venture GP LLC (“TP Venture GP”) serves as the general partner of TP Venture Fund. The TP Venture Fund investment strategy, as implemented by Third Point LLC, is to generate attractive risk-adjusted returns through a concentrated portfolio of investments in privately-held companies, primarily in the expansion through late/pre-IPO stage. The TP Venture Fund may also invest in early stage companies. Due to the nature of the fund, withdrawals are not permitted. Distributions prior to the expected termination date of the fund include, but are not limited to, dividends or proceeds arising from the liquidation of the fund's underlying investments. As of March 31, 2022, the Company had $12.7 million of unfunded commitments related to TP Venture Fund . As of March 31, 2022, the Company holds interests of approximately 16.8% of the net asset value of TP Venture Fund. 9. Investments in unconsolidated entities The Company’s investments in unconsolidated entities are included within other long-term investments and consist of investments in common equity securities or similar instruments, which give the Company the ability to exert significant influence over the investee's operating and financial policies. Such investments may be accounted for under either the equity method (“equity method investments”) or, alternatively, the Company may elect to account for them under the fair value option (“equity method eligible unconsolidated entities”). The following table presents the components of other long-term investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Equity method eligible unconsolidated entities, using the fair value option (1) (3) $ 216.8 $ 225.3 Equity method investments 26.0 26.7 Other unconsolidated investments, at fair value (2) 157.8 198.0 Other unconsolidated investments, at cost (3) 37.6 6.0 Total other long-term investments $ 438.2 $ 456.1 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund which are equity method eligible but are carried outside of other long-term investments. See Notes 7 and 11 for additional information on these related party investment funds. (2) Includes other long-term investments that are not equity method eligible and are measured at fair value. (3) The Company has elected to apply the cost minus impairment measurement alternative to investments that do not meet the criteria to be accounted for under the equity method, in which the investment is measured at cost and remeasured to fair value when impaired or upon observable transaction prices. The Company has historically elected the fair value option to account for its equity method eligible investments in order to be consistent with the remainder of its investments portfolio which is accounted for at fair value. Prospectively, the company no longer expects to exercise the fair value option for the majority of its new equity method eligible investments. The following table presents the Company’s significant equity method investee entities under fair value option in which it holds 20 percent or more (5 percent or more for limited partnerships and limited liability companies) of the ownership interest as of March 31, 2022: March 31, 2022 December 31, 2021 Investee Fair value Ownership interest Fair value Ownership interest Instrument held BE Reinsurance Limited $ 14.8 24.9 % $ 15.2 24.9 % Common shares BioVentures Investors (Offshore) IV LP 16.0 73.0 % 16.6 73.0 % Units Diamond LS I LP 8.8 15.3 % 7.1 15.3 % Units Gateway Fund LP 4.6 18.1 % 4.0 18.1 % Units Monarch Alternative Capital, LP 6.0 12.8 % 5.7 12.8 % Units New Energy Capital Infrastructure Credit Fund LP 22.4 18.3 % 20.1 18.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 14.9 12.2 % 13.4 12.2 % Units Great Bay LLC 1.0 11.1 % 1.0 11.1 % Units Tuckerman Capital V LP — — % 11.3 42.1 % Units Tuckerman Capital V Co-Investment I LP $ — — % $ 8.6 47.3 % Units (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund. See Notes 7 and 11 for additional information on these related party investment funds.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	10. Derivatives The Company holds derivative financial instruments for both risk management and investment purposes. Foreign currency risk derivatives The Company executes foreign currency forwards, call options, swaps, and futures to manage foreign currency exposure. The foreign currency risk derivatives are not designated or accounted for under hedge accounting. Changes in fair value are presented within foreign exchange gains. The fair value of the swaps and forwards are estimated using a single broker quote, and accordingly, are classified as a Level 3 measurement. The fair value of the futures is widely available and have quoted prices in active markets, and accordingly, were classified as a Level 1 measurement. The Company did not provide or hold any collateral associated with the foreign currency risk derivatives. Weather derivatives The Company holds assets and assumes liabilities related to weather and weather contingent risk management products. Weather and weather contingent derivative contracts are entered into with the objective of generating profits in normal climatic conditions. Accordingly, the Company’s weather and weather contingent derivatives are not designed to meet the criteria for hedge accounting under U.S. GAAP. The Company receives payment of premium at the contract inception in exchange for bearing the risk of variations in a quantifiable weather index. Changes in fair value are presented within o ther revenues . Management uses available market data and intern al pricing models based upon consistent statistical methodologies to estimate the fair value. Because of the significance of the unobservable inputs used to estimate the fair value of the Company's weather risk contracts, the fair value measurements of the contracts are deemed to be Level 3 measurements in the fair value hierarchy as of March 31, 2022. The Company does not provide or hold any collateral associated with the weather derivatives. Equity warrants The Company holds restricted equity warrants as part of its investment strategy. The equity warrants are not designated or accounted for under hedge accounting. Changes in fair value are presented within net realized and unrealized investment gains (losses). The fair value of the equity warrants is estimated using a single broker quote and accordingly, classified as a Level 3 measurement. The Company did not provide or hold any coll ateral associated with the equity warrants. Interest rate cap The Company entered into an interest rate swap ("Interest Rate Cap") that matures on June 30, 2022 with two financial institutions where it paid an upfront premium and in return receives a series of quarterly payments based on the 3-month London Interbank Offered Rate (“LIBOR”) at the time of payment. Changes in fair value are recognized as unrealized gains or losses and are presented within other net investment income. The following table summarizes information on the classification and amount of the fair value of derivatives not designated as hedging instruments within the Company's consolidated balance sheets as at March 31, 2022: March 31, 2022 December 31, 2021 Derivatives not designated as hedging instruments Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Value Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Foreign currency swaps $ — $ — $ — $ — $ 1.7 $ 40.0 Foreign currency forwards — 2.3 84.4 — 1.3 83.6 Foreign currency futures contracts — — 286.9 0.2 — 133.9 Weather derivatives — 2.1 22.5 — 0.8 6.2 Equity warrants — — — 0.1 — 0.1 Interest rate cap $ — $ — $ 75.0 $ — $ — $ 250.0 (1) Derivative assets are classified within other assets in the Company’s consolidated balance sheets as of March 31, 2022. (2) Derivative liabilities are classified within accounts payable, accrued expenses and other liabilities in the Company’s consolidated balance sheets as of March 31, 2022. The following table summarizes information on the classification and net impact on earnings, recognized in the Company’s consolidated statements of income (loss) relating to derivatives during the three months ended March 31, 2022: Derivatives not designated as hedging instruments Classification of gains (losses) recognized in earnings 2022 2021 Foreign currency swaps Foreign exchange gains $ — $ (0.4) Foreign currency forwards Foreign exchange gains (1.0) — Foreign currency futures contracts Foreign exchange gains (5.9) (0.1) Weather derivatives Other revenues (0.5) (3.7) Equity put options Net realized and unrealized investment gains (losses) — (1.6) Equity warrants Net realized and unrealized investment gains (losses) $ (0.1) $ — Underwriting-related derivatives The following tables identify the listing currency, fair value and notional amounts of underwriting-related derivatives included in the consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Derivative assets Listing currency Fair Value Notional Amounts (1) Fair Value Notional Amounts (1) Reinsurance contracts accounted for as derivative assets British Pound $ 1.5 $ 49.6 $ 1.2 $ 49.3 Derivative liabilities Reinsurance contracts accounted for as derivative liabilities British Pound $ 0.6 $ 59.8 $ 0.1 $ 37.4 (1) The absolute notional exposure represents the Company’s derivative activity as of March 31, 2022 and December 31, 2021, which is representative of the volume of derivatives held during the period.

Variable interest entities

Variable interest entities	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable interest entities	11. Variable interest entities The Company consolidates the results of operations and financial position of every voting interest entity ("VOE") in which it has a controlling financial interest and variable interest entities (“VIE”) in which it is considered to be the primary beneficiary in accordance with guidance in ASC 810, Consolidation . The consolidation assessment, including the determination as to whether an entity qualifies as a VOE or VIE, depends on the facts and circumstances surrounding each entity. Consolidated variable interest entities Alstead Re Alstead Reinsurance Ltd. (“Alstead Re”) is considered a VIE and the C ompany concluded that it is the primary beneficiary as it has power over the activities that most significantly impact the economic performance of Alstead Re. As a result, the Company has consolidated the results of Alstead Re in its consolidated financial statements. As of March 31, 2022, Alstead Re’s assets and liabilities included in the Company’s consolidated balance sheets were $13.2 million and $8.3 million, respectively (December 31, 2021 - $9.8 million and $5.5 million, respectively). Arcadian Arcadian Risk Capital Ltd. (“Arcadian”) is considered a VIE and the Company concluded that it is the primary beneficiary of Arcadian as it has power over the activities that most significantly impact the economic performance of Arcadian. As a result, the Company has consolidated the results of Arcadian in its consolidated financial statements. The Company’s ownership in Arcadian as of March 31, 2022 was 49%, and its financial exposure to Arcadian is limited to its investment in Arcadian’s common shares and other financial support up to $18.0 million through an unsecured promissory note. As of March 31, 2022 , Arcadian’s assets and liabilities, after intercompany eliminations, included in the Company’s consolidated bala nce sheets were $29.2 million and $3.3 million, re spectively ( December 31, 2021 - $29.0 million and $7.0 million , respectively). Joyn Joyn Insurance Services Inc. (“Joyn”) is considered a VIE and the Company concluded that it is the primary beneficiary of Joyn as it has power over the activities that most significantly impact the economic performance of Joyn. As a result, the Company has consolidated the results of Joyn in its consolidated financial statements. The Company’s ownership in Joyn as of March 31, 2022 was 50%, on a fully diluted basis, representing 1,175,000 preferred shares. The Company’s financial exposure to Joyn is limited to its investment in Joyn’s preferred shares and other financial support up to $16.5 million through a term loan. As of March 31, 2022, Joyn’s assets and liabilities, after intercompany eliminations, included in the Company’s consolidated balance sheets were $5.6 million and $4.5 million, respectively ( December 31, 2021 - $7.8 million and $4.1 million, respectively). Non-controlling interests Non-controlling interests represent the portion of equity in consolidated subsidiaries not attributable, directly or indirectly, to the Company. The following table is a reconciliation of the beginning and ending carrying amount of noncontrolling interests for the three months ended March 31, 2022 and 2021: March 31, 2022 March 31, 2021 Balance, beginning of period $ (0.4) $ 1.4 Sirius Group acquisition (1) — 0.3 Net loss attributable to noncontrolling interests (0.3) — Contributions — 0.1 Balance, end of period $ (0.7) $ 1.8 (1) See Note 3 for additional information related to the acquisition of Sirius Group. Non-consolidated variable interest entities T he Company is a passive investor in certain third-party-managed hedge and private equity funds, some of which are VIEs. The Company is not involved in the design or establishment of these VIEs, nor does it actively participate in the management of the VIEs. The exposure to loss from these investments is limited to the carrying value of the investments at the balance sheet date. The Company calculates maximum exposure to loss to be (i) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where the Company has also provided credit protection to the VIE with the VIE as the referenced obligation, and (iii) other commitments and guarantees to the VIE. The Company does not have any VIEs that it sponsors nor any VIEs where it has recourse to it or has provided a guarantee to the VIE interest holders. The following table presents total assets of unconsolidated VIEs in which the Company holds a variable interest, as well as the maximum exposure to loss associated with these VIEs as of March 31, 2022 and December 31, 2021: March 31, 2022 Maximum Exposure to Loss Total VIE Assets On-Balance Sheet Off-Balance Sheet Total Other long-term investments (1) $ 276.5 $ 160.3 $ 2.0 $ 162.3 $ 276.5 $ 160.3 $ 2.0 $ 162.3 December 31, 2021 Maximum Exposure to Loss Total VIE Assets On-Balance Sheet Off-Balance Sheet Total Other long-term investments (1) $ 326.2 $ 177.5 $ 2.1 $ 179.6 $ 326.2 $ 177.5 $ 2.1 $ 179.6 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund which are also VIEs and are discussed separately below. Third Point Enhanced LP As of March 31, 2022, the Company and TP GP hold interests of approximately 89.5% and 10.5%, respectively, of the net asset value of TP Enhanced Fund. As a result, both entities hold significant financial interests in TP Enhanced Fund. However, TP GP controls all of the investment decision-making authority and the Company does not have the power to direct the activities which most significantly impact the economic performance of TP Enhanced Fund. As a result, the Company is not considered the primary beneficiary and does not consolidate TP Enhanced Fund. The Company’s maximum exposure to loss corresponds to the value of its investments in TP Enhanced Fund. As a result of the Company’s holdings in TP Enhanced Fund and its contribution to the Company’s overall financial results, the Company includes the following summarized income statement of the TP Enhanced Fund for the three months ended March 31, 2022 and 2021, and summarized balance sheet as of March 31, 2022 and December 31, 2021. This summarized income statement of TP Enhanced Fund reflects the main components of total investment income and expenses of TP Enhanced Fund. This summarized income statement is not a breakdown of the Company’s proportional investment income in TP Enhanced Fund as presented in the Company’s consolidated statements of income (loss). TP Enhanced Fund summarized income statement 2022 2021 Investment income (loss) Net realized gain from securities, derivative contracts and foreign currency translations $ 79.9 $ 148.4 Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations (226.1) 71.5 Net income from currencies 0.1 0.8 Dividend and interest income 8.3 5.4 Other income 0.1 — Total investment income (loss) $ (137.7) $ 226.1 Expenses Management fees $ 2.3 $ 4.0 Interest 1.1 1.5 Dividends on securities sold, not yet purchased 0.8 1.5 Administrative and professional fees 0.7 0.7 Other expenses 0.5 1.3 Total expenses 5.4 9.0 Net income (loss) $ (143.1) $ 217.1 The following table is a summarized balance sheet of TP Enhanced Fund as of March 31, 2022 and December 31, 2021 and reflects the underlying assets and liabilities of TP Enhanced Fund. This summarized balance sheet is not a breakdown of the Company’s proportional interests in the underlying assets and liabilities of TP Enhanced Fund. TP Enhanced Fund summarized balance sheet March 31, December 31, 2021 Assets Total investments in securities and affiliated funds $ 830.7 $ 1,623.5 Cash and cash equivalents 0.1 0.1 Due from brokers 547.6 524.0 Derivative assets, at fair value 35.3 46.5 Interest and dividends receivable 1.8 3.1 Other assets 1.5 1.5 Total assets $ 1,417.0 $ 2,198.7 Liabilities Accounts payable and accrued expenses $ 1.1 $ 1.1 Securities sold, not yet purchased, at fair value 352.8 290.4 Securities sold under agreement to repurchase 32.5 33.6 Due to brokers 289.7 493.6 Derivative liabilities, at fair value 13.8 8.4 Withdrawals payable to General Partner — 139.5 Redemptions payable to SiriusPoint — 250.0 Interest and dividends payable 0.6 0.7 Management fee payable 0.1 0.2 Total liabilities 690.6 1,217.5 Total partners' capital $ 726.4 $ 981.2 Third Point Venture Offshore Fund I LP TP Venture GP controls all of the investment decision-making authority and the Company does not have the power to direct the activities which most significantly impact the economic performance of TP Venture Fund. The Company’s maximum exposure to loss corresponds to the value of its investment in TP Venture Fund . See Note 7 for additional information on the Company’s investment in TP Venture Fund.

Loss and loss adjustment expens

Loss and loss adjustment expense reserves	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Loss and loss adjustment expense reserves	12. Loss and loss adjustment expense reserves The following table represents the activity in the loss and loss adjustment expense reserves for the three months ended March 31, 2022 and 2021: 2022 2021 Gross reserves for loss and loss adjustment expenses, beginning of period $ 4,841.4 $ 1,310.1 Less: loss and loss adjustment expenses recoverable, beginning of period (1,215.3) (14.4) Less: deferred charges on retroactive reinsurance contracts (1.4) (6.0) Net reserves for loss and loss adjustment expenses, beginning of period 3,624.7 1,289.7 Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: Current year 345.6 146.5 Prior years (5.5) 0.4 Total incurred loss and loss adjustment expenses 340.1 146.9 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (38.3) (14.7) Prior years (254.1) (117.2) Total net paid losses (292.4) (131.9) Foreign currency translation (16.3) (10.6) Amounts acquired as a result of Sirius Group acquisition (1) — 2,467.8 Net reserves for loss and loss adjustment expenses, end of period 3,656.1 3,761.9 Plus: loss and loss adjustment expenses recoverable, end of period 1,278.6 492.6 Plus: deferred charges on retroactive reinsurance contracts (2) 1.3 4.8 Gross reserves for loss and loss adjustment expenses, end of period $ 4,936.0 $ 4,259.3 (1) Represents the fair value of Sirius Group’s reserves for claims and claim expenses, net of reinsurance recoverables, acquired at February 26, 2021. See Note 3 for additional information related to the acquisition of Sirius Group. (2) Deferred charges on retroactive contracts are recorded in other assets on the Company’s consolidated balance sheets. The Company's prior year reserve development arises from changes to estimates of losses and loss adjustment expenses related to loss events that occurred in previous calendar years. For the three months ended March 31, 2022, the Company recorded $5.5 million of net favorable prior year loss reserve development driven by favorable development on COVID-19 reserves of $23.5 million due to better than expected loss experience, with the most significant offsetting movement being reserve strengthening in the property lines that was driven by the current elevated level of inflation. For the three months ended March 31, 2021 , the Company recorded $0.4 million

Allowance for expected credit l

Allowance for expected credit losses	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Allowance for expected credit losses	13. Allowance for expected credit losses The Company is exposed to credit losses primarily through sales of its insurance and reinsurance products and services. The financial assets in scope of the current expected credit losses impairment model primarily include the Company’s insurance and reinsurance balances receivable and loss and loss adjustment expenses recoverable. The Company pools these amounts by counterparty credit rating and applies a credit default rate that is determined based on the studies published by the rating agencies (e.g., AM Best, S&P). In circumstances where ratings are unavailable, the Company applies an internally developed default rate based on historical experience, reference data including research publications, and other relevant inputs. The Company's assets in scope of the current expected credit loss assessment as of March 31, 2022 and December 31, 2021 are as follows: March 31, December 31, 2021 Insurance and reinsurance balances receivable, net $ 1,936.8 $ 1,708.2 Loss and loss adjustment expenses recoverable, net 1,278.6 1,215.3 Other assets (1) 45.3 14.5 Total assets in scope $ 3,260.7 $ 2,938.0 (1) Relates to MGA trade receivables included in other assets in the Company’s consolidated balance sheets. The Company’s allowance for expected credit losses was $34.1 million as of March 31, 2022 (December 31, 2021 - $21.6 million). For the three months ended March 31, 2022 and 2021, the Company recorded current expected credit losses of $12.5 million and $17.4 million, respectively. These amounts are included in net corporate and other expenses in the consolidated statements of income (loss).

Debt and letter of credit facil

Debt and letter of credit facilities	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt and letter of credit facilities	14. Debt and letter of credit facilities Debt obligations The following table represents a summar y of the Company’s debt obl igations on its consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Amount Effective rate (1) Amount Effective rate (1) 2017 SEK Subordinated Notes, at face value $ 294.8 4.0 % $ 303.1 4.1 % Unamortized discount (6.5) (6.8) 2017 SEK Subordinated Notes, carrying value 288.3 296.3 2016 Senior Notes, at face value 400.0 4.5 % 400.0 4.5 % Unamortized premium 5.7 6.0 2016 Senior Notes, carrying value 405.7 406.0 2015 Senior Notes, at face value 115.0 7.0 % 115.0 7.0 % Unamortized issuance costs (0.6) (0.6) 2015 Senior Notes, carrying value 114.4 114.4 Total debt $ 808.4 $ 816.7 (1) Effective rate considers the effect of the debt issuance costs, discount, and premium. The Company was in compliance with all debt covenants as of and for the periods ended March 31, 2022 and December 31, 2021. Standby letter of credit facilities As of March 31, 2022, the Company had entered into the following letter of credit facilities: Letters of Credit Collateral Committed Capacity Issued Cash and Cash Equivalents Debt securities Committed - Secured letters of credit facilities $ 330.0 $ 275.0 $ 41.9 $ 162.1 Uncommitted - Secured letters of credit facilities n/a 943.0 539.0 645.0 $ 1,218.0 $ 580.9 $ 807.1 The Company’s secured letter of credit facilities are bilateral agreements that generally renew on an annual basis. The letters of credit issued under the secured letter of credit facilities are fully collateralized. The above referenced facilities are subject to various affirmative, negative and financial covenants that the Company considers to be customary for such borrowings, including certain minimum net worth and maximum debt to capitalization standards. See Note 5 for additional information. Revolving credit facility Effective February 26, 2021, the Company entered into a three-year, $300.0 million senior unsecured revolving credit facility (the “Facility”) with JPMorgan Chase Bank, N.A. as administrative agent. The Facility includes an option, subject to satisfaction of certain conditions including agreement of lenders representing greater than a majority of commitments, for the Company to request an extension by such lenders of the maturity date of the Facility by an additional 12 months. The Facility provides access to loans for working capital and general corporate purposes, and letters of credit to support obligations under insurance and reinsurance agreements, retrocessional agreements and for general corporate purposes. Loans and letters of credit under the Facility will become available, subject to customary conditions precedent. As of March 31, 2022 , there were no outstanding borrowings under the Facility.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income taxes	15. Income taxes The Company provides for income tax expense or benefit based upon pre-tax income or loss reported in the consolidated statements of income (loss) and the provisions of currently enacted tax laws. The Company and its Bermuda-domiciled subsidiaries are incorporated under the laws of Bermuda and are subject to Bermuda law with respect to taxation. Under current Bermuda law, the Company and its Bermuda-domiciled subsidiaries are not subject to any income or capital gains taxes in Bermuda. In the event that such taxes are imposed, the Company and its Bermuda-domiciled subsidiaries would be exempted from any such taxes until March 2035 under the Tax Assurance Certificates issued to such entities pursuant to the Bermuda Exempted Undertakings Tax Protection Act of 1966, as amended. The Company has subsidiaries and branches that operate in various other jurisdictions around the world that are subject to tax in the jurisdictions in which they operate. The jurisdictions in which the Company's subsidiaries and branches are subject to tax are Australia, Belgium, Canada, Germany, Hong Kong (China), Ireland, Luxembourg, Malaysia, Singapore, Sweden, Switzerland, the United Kingdom, and the United States. For the three months ended March 31, 2022, the Company recorded income tax expense of $9.7 million (2021 - $9.8 million) on pre-tax income (loss) of $(203.6) million (2021 - $179.7 million). The effective tax rate for the three months ended March 31, 2022 was (4.8)%. The difference between the effective tax rate on income from continuing operations and the Bermuda statutory tax rate of 0.0% is primarily because of income recognized in jurisdictions with higher tax rates than Bermuda, and adjustments pursuant to applicable U.S. GAAP guidance on interim period financial reporting of taxes, which are based on the annual estimated effective tax rate. In arriving at the estimated annual effective tax rate for the three months ended March 31, 2022 and 2021, the Company took into consideration all year-to-date income and expense items including the change in unrealized investment gains (losses) and realized investment gains (losses) and such items on a forecasted basis for the remainder of each year. Based on applicable U.S. GAAP guidance, jurisdictions with a projected loss for the full year where no tax benefit can be recognized are excluded from the estimation of the annual effective tax rate. Uncertain tax positions Recognition of the benefit of a given tax position is based upon whether a company determines that it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. In evaluating the more likely than not recognition threshold, the Company must presume that the tax position will be subject to examination by a taxing authority with full knowledge of all relevant information. If the recognition threshold is met, then the tax position is measured at the largest amount of benefit that is more than 50% likely of being realized upon ultimate settlement.

Shareholders' equity

Shareholders' equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders' equity	16. Shareholders' equity Common shares The following table presents a summary of the common shares issued and outstanding and shares repurchased as of and for the three months ended March 31, 2022 and 2021: 2022 2021 Common shares issued and outstanding, beginning of period 161,929,777 95,582,733 Issuance of common shares, net of forfeitures and shares withheld 656,822 2,081,001 Performance restricted shares granted, net of forfeitures and shares withheld — (197,418) Issuance of common shares for Sirius Group acquisition — 58,331,196 Issuance of common shares to related party — 6,093,842 Shares repurchased (645,047) — Common shares issued and outstanding, end of period 161,941,552 161,891,354 The Company’s authorized share capital consists of 300,000,000 common shares with a par value of $0.10 each. During the three months ended March 31, 2022 and 2021, the Company did not pay any dividends to its common shareholders. Preference shares The Company’s authorized share capital also consists of 30,000,000 preference shares with a par value of $0.10 each. Series B preference shares The Company has 8,000,000 of Series B preference shares outstanding, par value $0.10. Dividends on the Series B preference shares will be cumulative and payable quarterly in arrears at an initial rate of 8.0% per annum. The preference shareholders will have no voting rights with respect to the Series B preference shares unless dividends have not been paid for six dividend periods, whether or not consecutive, in which case the holders of the Series B preference shares will have the right to elect two directors. The dividend rate will reset on each five-year anniversary of issuance at a rate equal to the five-year U.S. treasury rate at such time plus 7.298%. The Series B preference shares are perpetual and have no fixed maturity date. The Series B preference shares will provide for redemption rights by the Company (i) in whole, or in part, on each five-year anniversary of issuance at 100%, (ii) in whole, but not in part, (a) upon certain rating agency events, at 102%, (b) upon certain capital disqualification events, at 100%, and (c) upon certain tax events, at 100%. On June 28, 2021 and August 12, 2021, the Company entered into Underwriting Agreements with the Series B preference shareholders (the “Selling Shareholders”) pursuant to which the Selling Shareholders sold to the public market an aggregate of 8,000,000 Series B preference shares. The Company did not receive any proceeds from the sale of the Series B preference shares by the Selling Shareholders. The transaction did not change the underlying conditions of the Series B preference shares. The Series B preference shares are listed on the New York Stock Exchange under the symbol “SPNT PB”. During the three months ended March 31, 2022, the Company declared and paid dividends of $4.0 million to the Series B preference shareholders. No dividends were declared or paid for the three months ended March 31, 2021. Share repurchases On February 28, 2018, the Company’s Board of Directors authorized the repurchase of an additional $148.3 million common shares, which together with the authorized amount remaining under the previously announced share repurchase program would allow the Company to repurchase up to $200.0 million more of the Company’s outstanding common shares in the aggregate. On August 5, 2021, the Company’s Board of Directors expanded the scope of the prior authority to include the repurchase of outstanding CVRs and warrants. Under the common share repurchase program, the Company may repurchase shares from time to time in privately negotiated transactions or in open-market purchases in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. During the three months ended March 31, 2022, the Company repurchased 645,047 of its common shares in the open market for $4.7 million at a weighted average cost, including commissio ns, of $7.26 per share. Common shares repurchased by the Company during the period were retired. As of March 31, 2022 the Company was authorized to repurchase up to an aggreg ate of $56.6 million of outstanding common shares, CVRs and warrants under its repurchase program.

Earnings (loss) per share avail

Earnings (loss) per share available to SiriusPoint common shareholders	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings (loss) per share available to SiriusPoint common shareholders	17. Earnings (loss) per share available to SiriusPoint common shareholders The following sets forth the computation of basic and diluted earnings (loss) per share available to SiriusPoint common shareholders for the three months ended March 31, 2022 and 2021: 2022 2021 Weighted-average number of common shares outstanding: Basic number of common shares outstanding 159,867,593 116,760,760 Dilutive effect of options — 184,470 Dilutive effect of warrants — 51,650 Dilutive effect of restricted share units — 1,149,461 Diluted number of common shares outstanding 159,867,593 118,146,341 Basic earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (217.0) $ 168.4 Net income allocated to SiriusPoint participating common shareholders — (8.3) Net income (loss) allocated to SiriusPoint common shareholders $ (217.0) $ 160.1 Basic earnings (loss) per share available to SiriusPoint common shareholders $ (1.36) $ 1.37 Diluted earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (217.0) $ 168.4 Net income allocated to SiriusPoint participating common shareholders — (8.3) Net income (loss) allocated to SiriusPoint common shareholders $ (217.0) $ 160.1 Diluted earnings (loss) per share available to SiriusPoint common shareholders $ (1.36) $ 1.35 For the three months ended March 31, 2022 and 2021 , options of 3,469,887 and 4,120,926, respectively, warrants of 31,123,755 and 31,123,755, respectively, and Upside Rights of 10,000,000 and 10,000,000, respectively,

Related party transactions

Related party transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related party transactions	18. Related party transactions In addition to the transactions disclosed in Notes 7, 8 and 11 to these consolidated financial statements, the following transactions are classified as related party transactions, as the counterparties have either a direct or indirect shareholding in the Company or the Company has an investment in such counterparty. (Re)insurance contracts Insurance and reinsurance contracts with certain of the Company’s insurance and MGA affiliates resulted in gross written premiums of $61.2 million duri ng the three months ended March 31, 2022 ( 2021 - $20.2 million) . As of March 31, 2022, the Company had total receivables from affiliates of $50.3 million and payables of $1.2 million ( 2021 - $48.3 million receivables and no payables) . Management, advisory and performance fees to related parties The total management, advisory and performance fees to related parties for the three months ended March 31, 2022 and 2021 were as follows: 2022 2021 Management and advisory fees $ 2.7 $ 4.1 Performance fees 0.2 38.1 Total management, advisory and performance fees to related parties $ 2.9 $ 42.2 Management and advisory fees Third Point Enhanced LP Effective January 1, 2019, SiriusPoint and SiriusPoint Bermuda entered into the Second Amended and Restated Exempted Limited Partnership Agreement (the “2019 LPA”) of TP Enhanced Fund . Pursuant to the 2019 LPA, Third Point LLC is entitled to receive monthly management fees. Management fees are charged at the TP Enhanced Fund level and are calculated based on 1.25% of the investment in TP Enhanced Fund and multiplied by an exposure multiplier computed by dividing the average daily investment exposure leverage of the TP Enhanced Fund by the average daily investment exposure leverage of the Third Point Offshore Master Fund L.P. (“Offshore Master Fund”). Third Point LLC also serves as the investment manager for the Offshore Master Fund. The 2020 LPA, effective February 26, 2021, removed the adjustment for investment exposure leverage in the management fee calculation, as previously adjusted for under the 2019 LPA. The 2020 LPA did not amend the management fee rate of 1.25% per annum. The 2022 LPA, effective February 23, 2022, did not amend the management fee rate of 1.25% per annum. Third Point Venture Offshore Fund I LP No management fees are payable by the Company under the 2021 Venture LPA . Third Point Insurance Portfolio Solutions Effective February 26, 2021, Third Point LLC, Third Point Insurance Portfolio Solutions (“TPIPS”) and the Company entered into an Investment Management Agreement (the “TPIPS IMA”), pursuant to which TPIPS will serve as investment manager to the Company and provide investment advice with respect to the investable assets of the Company, other than assets that the Company may withdraw from time to time as working capital. The Amended and Restated Collateral Assets Investment Management Agreement was terminated at the effective date of the TPIPS IMA. Pursuant to the TPIPS IMA, the Company will pay Third Point LLC a fixed management fee, payable monthly in advance, equal to 1/12 of 0.06% of the fair value of assets managed (other than assets invested in TP Enhanced Fund ). Third Point Optimized Credit On February 23, 2022, the Company entered into 2022 IMA with Third Point LLC and the other parties thereto, which amended and restated the TPIPS IMA. Pursuant to the 2022 IMA, effective February 23, 2022, the Company will also pay Third Point LLC a monthly management fee equal to one twelfth of 0.50% (0.50% per annum) of the TPOC Portfolio, net of any expenses, and a fixed advisory fee of $1,500,000 per annum. Performance fees Third Point Enhanced LP Pursuant to the 2019 LPA, TP GP receives a performance fee allocation equal to 20% of the Company’s investment income in the related party investment fund. The performance fee is included as part of “Investments in related party investment fund, at fair value” on the Company’s consolidated balance sheets since the fees are charged at the TP Enhanced Fund level. The performance fee is subject to a loss carryforward provision pursuant to which TP GP is required to maintain a loss recovery account, which represents the sum of all prior period net loss amounts and not subsequently offset by prior year net profit amounts, and that is allocated to future profit amounts until the loss recovery account has returned to a positive balance. Until such time, no performance fees are payable, provided that the loss recovery account balance shall be reduced proportionately to reflect any withdrawals from TP Enhanced Fund . The 2019 LPA preserves the loss carryforward attributable to our investment in TP Enhanced Fund when contributions to TP Enhanced Fund are made within nine months of certain types of withdrawals from TP Enhanced Fund . Pursuant to the 2020 LPA, the performance of certain fixed income and other investments managed by Third Point LLC were included when calculating the performance fee allocation and loss recovery account amounts under the terms of the 2019 LPA for the year ended December 31, 2020 only. There are no other changes to the performance fee calculation under the 2020 LPA. The 2022 LPA did not amend the performance fee calculation. Third Point Venture Offshore Fund I LP Pursuant to the 2021 Venture LPA, TP Venture GP receives a performance fee allocation equal to 20% of the Company’s investment income in the related party investment fund. Third Point Optimized Credit Pursuant to the 2022 IMA, the Company will pay Third Point LLC, from the assets of each sub-account, an annual incentive fee equal to 15% of outperformance over a specified benchmark. The performance fee is included as part of “Other net investment income” on the Company’s consolidated statements of income (loss) .

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	19. Commitments and contingencies Financing See Note 14 for additional information related to the Company’s debt obligations. Letters of credit See Note 14 for additional information related to the Company’s letter of credit facilities. Liability-classified capital instruments See Note 3 for additional information related to the contingent value consideration components of the Sirius Group acquisition. Promissory Notes & Loan Agreement On September 16, 2020, the Company entered into an Unsecured Promissory Note agreement with Arcadian, pursuant to which the Company has committed to loan up to $18.0 million. Interest shall accrue and be computed on the aggregate principal amount drawn and outstanding at a rate of 8.0% per annu m. No amou nts were drawn as of March 31, 2022. On July 2, 2021, the Company entered into a loan and security agreement with Joyn, pursuant to which the Company has lent Joyn $11.5 million. Interest shall accrue and be computed on the aggregate principal amount drawn and outstanding at a rate of 8.0% per annu m. Joyn may request to increase the initial loan amount by up to an additional $5.0 million. On March 7, 2022, the Company entered into an Unsecured Convertible Promissory Note agreement with Player’s Health, pursuant to which the Company has lent $8.0 million. Interest shall accrue and be computed on the aggregate principal amount drawn and outstanding at a rate of 6.0% per annu m. Litigation From time to time in the normal course of business, the Company may be involved in formal and informal dispute resolution procedures, which may include arbitration or litigation, the outcomes of which determine the rights and obligations under the Company’s reinsurance contracts and other contractual agreements. In some disputes, the Company may seek to enforce its rights under an agreement or to collect funds owed to it. In other matters, the Company may resist attempts by others to collect funds or enforce alleged rights. The Company may also be involved, from time to time in the normal course of business, in formal and informal dispute resolution procedures that do not arise from, or are not directly related to, claims activity. The Company is not currently involved in any formal or informal dispute resolution procedures that it considers to be material. Leases The Company operates in Bermuda, the United States, Canada, Europe and Asia, and leases office space under various non-cancelable operating lease agreements. During the three months ended March 31, 2022, the Company recognized operating lease expense of $2.9 million (2021 - $1.3 million), including property taxes and routine maintenance expense as well as rental expenses related to short term leases. As of March 31, 2022, the Company had $24.5 million (December 31, 2021 - $27.4 million) of operating lease right-of-use assets, respectively, included in other assets accounts payable, accrued expenses and other liabilities The following table presents the lease balances within the consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Operating lease right-of-use assets $ 24.5 $ 27.4 Operating lease liabilities $ (30.0) $ (32.5) Weighted average lease term (years) 5.0 5.0 Weighted average discount rate 2.3 % 2.4 % Future minimum rental commitments as of March 31, 2022 under these leases are expected to be as follows: Future Payments Remainder of 2022 $ 7.8 2023 7.9 2024 4.6 2025 3.2 2026 and thereafter 8.1 Total future annual minimum rental payments 31.6 Less: present value discount (1.6) Total lease liability as of March 31, 2022 $ 30.0 The above table does not include future minimum rental commitments of one material lease that has not yet commenced as of March 31, 2022. The minimum rental commitment under this lease is approximately $11.2 million.

Significant accounting polici_2

Significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Recently issued accounting standards	Issued but not yet effective as of March 31, 2022 Accounting pronouncements issued during the three months ended March 31, 2022 were either not relevant to the Company or did not impact the Company’s consolidated financial statements.

Acquisition of Sirius Group (Ta

Acquisition of Sirius Group (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of results of Sirius Group and pro forma financial information	The following table summarizes the results of Sirius Group since February 26, 2021 that have been included in the Company's consolidated statements of income: For the period from February 26, 2021 to March 31, 2021 Total revenues $ 146.2 Net income $ 23.3 The following table presents unaudited pro forma consolidated financial information for the three months ended March 31, 2021 and assumes the acquisition of Sirius Group occurred on January 1, 2021. The unaudited pro forma consolidated financial information is provided for informational purposes only and is not necessarily, and should not be assumed to be, an indication of the results that would have been achieved had the transaction been completed as of January 1, 2021 or that may be achieved in the future. The unaudited pro forma consolidated financial information does not give consideration to the impact of possible revenue enhancements, expense efficiencies, synergies or asset dispositions that may result from the acquisition of Sirius Group. In addition, unaudited pro forma consolidated financial information does not include the effects of costs associated with any restructuring or integration activities resulting from the acquisition of Sirius Group, as such costs cannot be determined at this time. Three months ended March 31, 2021 Total revenues $ 664.7 Net income (loss) $ 165.8

Segment reporting (Tables)

Segment reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of operating segment results	The following is a summary of the Company’s operating segment results for the three months ended March 31, 2022 and 2021: Three months ended March 31, 2022 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 524.2 $ 483.5 $ 1,007.7 $ — $ 2.0 $ — $ 1,009.7 Net premiums written 374.9 337.5 712.4 — 1.5 — 713.9 Net premiums earned 307.6 212.8 520.4 — 8.9 — 529.3 Loss and loss adjustment expenses incurred, net 194.5 134.0 328.5 (1.2) 12.8 — 340.1 Acquisition costs, net 79.9 53.5 133.4 (25.6) 0.7 — 108.5 Other underwriting expenses 30.1 15.7 45.8 — 1.4 — 47.2 Underwriting income (loss) 3.1 9.6 12.7 26.8 (6.0) — 33.5 Services revenue — 56.8 56.8 (30.8) — (26.0) — Services expenses — 43.3 43.3 — — (43.3) — Net services fee income — 13.5 13.5 (30.8) — 17.3 — Services noncontrolling loss — 0.8 0.8 — — (0.8) — Net investment losses from Strategic Investments — (0.3) (0.3) — — 0.3 — Net services income — 14.0 14.0 (30.8) — 16.8 — Segment income (loss) 3.1 23.6 26.7 (4.0) (6.0) 16.8 33.5 Net realized and unrealized investment losses (81.6) (0.3) (81.9) Net realized and unrealized investment losses from related party investment funds (131.0) — (131.0) Other net investment income 7.8 — 7.8 Other revenues 11.2 26.0 37.2 Net corporate and other expenses (34.1) (43.3) (77.4) Intangible asset amortization (1.9) — (1.9) Interest expense (9.3) — (9.3) Foreign exchange gains 19.4 — 19.4 Income (loss) before income tax expense $ 3.1 $ 23.6 26.7 (4.0) (225.5) (0.8) (203.6) Income tax expense — — (9.7) — (9.7) Net income (loss) 26.7 (4.0) (235.2) (0.8) (213.3) Net loss attributable to noncontrolling interest — — (0.5) 0.8 0.3 Net income (loss) available to SiriusPoint $ 26.7 $ (4.0) $ (235.7) $ — $ (213.0) Underwriting Ratios: (1) Loss ratio 63.2 % 63.0 % 63.1 % 64.3 % Acquisition cost ratio 26.0 % 25.1 % 25.6 % 20.5 % Other underwriting expenses ratio 9.8 % 7.4 % 8.8 % 8.9 % Combined ratio 99.0 % 95.5 % 97.5 % 93.7 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards. Three months ended March 31, 2021 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 158.7 $ 190.9 $ 349.6 $ — $ 6.2 $ — $ 355.8 Net premiums written 161.5 139.6 301.1 — (1.6) — 299.5 Net premiums earned 199.8 42.7 242.5 — 2.7 — 245.2 Loss and loss adjustment expenses incurred, net 108.2 28.6 136.8 (0.2) 10.3 — 146.9 Acquisition costs, net 58.9 14.2 73.1 (5.7) 1.6 — 69.0 Other underwriting expenses 16.1 1.3 17.4 — 3.4 — 20.8 Underwriting income (loss) 16.6 (1.4) 15.2 5.9 (12.6) — 8.5 Services revenue — 18.2 18.2 (7.4) — (10.8) — Services expenses — 10.6 10.6 — — (10.6) — Net services fee income — 7.6 7.6 (7.4) — (0.2) — Net investment gains (losses) from Strategic Investments (0.1) 35.2 35.1 — — (35.1) — Net services income (loss) (0.1) 42.8 42.7 (7.4) — (35.3) — Segment income (loss) 16.5 41.4 57.9 (1.5) (12.6) (35.3) 8.5 Net realized and unrealized investment gains (losses) (3.6) 35.1 31.5 Net realized and unrealized investment gains from related party investment funds 153.2 — 153.2 Other net investment income 1.8 — 1.8 Other revenues 46.1 10.8 56.9 Net corporate and other expenses (68.3) (10.6) (78.9) Intangible asset amortization (0.8) — (0.8) Interest expense (4.9) — (4.9) Foreign exchange gains 12.4 — 12.4 Income before income tax expense $ 16.5 $ 41.4 57.9 (1.5) 123.3 — 179.7 Income tax expense — — (9.8) — (9.8) Net income available to SiriusPoint $ 57.9 $ (1.5) $ 113.5 $ — $ 169.9 Underwriting Ratios: (1) Loss ratio 54.2 % 67.0 % 56.4 % 59.9 % Acquisition cost ratio 29.5 % 33.3 % 30.1 % 28.1 % Other underwriting expenses ratio 8.1 % 3.0 % 7.2 % 8.5 % Combined ratio 91.8 % 103.3 % 93.7 % 96.5 % (1) Underwriting ratios are calculated by dividing the related expense by net premiums earned. (2) Insurance & Services MGAs recognize fees for service using revenue from contracts with customers accounting standards, whereas insurance companies recognize acquisition expenses using insurance contract accounting standards. While ultimate revenues and expenses recognized will match, there will be recognition timing differences based on the different accounting standards.

Cash, cash equivalents, restr_2

Cash, cash equivalents, restricted cash and restricted investments (Tables)	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Schedule of restrictions on cash and cash equivalents and investments	The following table provides a summary of cash and cash equivalents, restricted cash and restricted investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Cash and cash equivalents $ 826.1 $ 999.8 Restricted cash securing letter of credit facilities (1) 580.9 500.2 Restricted cash securing reinsurance contracts (2) 371.9 431.8 Restricted cash held by managing general underwriters 20.0 16.6 Total cash, cash equivalents and restricted cash (3) 1,798.9 1,948.4 Restricted investments securing reinsurance contracts and letter of credit facilities (1) (2) (4) 1,584.7 1,107.0 Total cash, cash equivalents, restricted cash and restricted investments $ 3,383.6 $ 3,055.4 (1) Restricted cash and restricted investments securing letter of credit facilities primarily pertains to letters of credit that have been issued to the Company’s clients in support of our obligations under reinsurance contracts. The Company will not be released from the obligation to provide these letters of credit until the reserves underlying the reinsurance contracts have been settled. The time period for which the Company expects each letter of credit to be in place varies from contract to contract, but can last several years. (2) Restricted cash and restricted investments securing reinsurance contracts pertain to trust accounts securing the Company’s contractual obligations under certain reinsurance contracts that the Company will not be released from until the underlying risks have expired or have been settled. Restricted investments include certain investments in debt securities, short-term investments and limited partnership interests in Third Point Enhanced LP. The time period for which the Company expects these trust accounts to be in place varies from contract to contract, but can last several years. (3) Cash, cash equivalents and restricted cash as reported in the Company’s consolidated statements of cash flows. (4) Restricted investments include required deposits with certain insurance state regulatory agencies in order to maintain insurance licenses.
Schedule of cash and cash equivalents	The following table provides a summary of cash and cash equivalents, restricted cash and restricted investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Cash and cash equivalents $ 826.1 $ 999.8 Restricted cash securing letter of credit facilities (1) 580.9 500.2 Restricted cash securing reinsurance contracts (2) 371.9 431.8 Restricted cash held by managing general underwriters 20.0 16.6 Total cash, cash equivalents and restricted cash (3) 1,798.9 1,948.4 Restricted investments securing reinsurance contracts and letter of credit facilities (1) (2) (4) 1,584.7 1,107.0 Total cash, cash equivalents, restricted cash and restricted investments $ 3,383.6 $ 3,055.4 (1) Restricted cash and restricted investments securing letter of credit facilities primarily pertains to letters of credit that have been issued to the Company’s clients in support of our obligations under reinsurance contracts. The Company will not be released from the obligation to provide these letters of credit until the reserves underlying the reinsurance contracts have been settled. The time period for which the Company expects each letter of credit to be in place varies from contract to contract, but can last several years. (2) Restricted cash and restricted investments securing reinsurance contracts pertain to trust accounts securing the Company’s contractual obligations under certain reinsurance contracts that the Company will not be released from until the underlying risks have expired or have been settled. Restricted investments include certain investments in debt securities, short-term investments and limited partnership interests in Third Point Enhanced LP. The time period for which the Company expects these trust accounts to be in place varies from contract to contract, but can last several years. (3) Cash, cash equivalents and restricted cash as reported in the Company’s consolidated statements of cash flows. (4) Restricted investments include required deposits with certain insurance state regulatory agencies in order to maintain insurance licenses.

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of investments, categorized by the level of the fair value hierarchy	The following tables present the Company’s investments, categorized by the level of the fair value hierarchy as of March 31, 2022 and December 31, 2021: March 31, 2022 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Asset-backed securities $ — $ 718.1 $ — $ 718.1 Residential mortgage-backed securities — 393.0 — 393.0 Commercial mortgage-backed securities — 132.7 — 132.7 Corporate debt securities — 752.3 — 752.3 U.S. government and government agency 476.9 12.2 — 489.1 Non-U.S. government and government agency 20.9 113.4 — 134.3 Preferred stocks — — 3.3 3.3 Total debt securities 497.8 2,121.7 3.3 2,622.8 Fixed income mutual funds 2.5 — — 2.5 Common stocks 0.2 — — 0.2 Total equity securities 2.7 — — 2.7 Short-term investments 986.4 2.6 — 989.0 Other long-term investments — — 315.2 315.2 Derivative assets — — (0.6) (0.6) $ 1,486.9 $ 2,124.3 $ 317.9 3,929.1 Investments in funds valued at NAV 801.6 Total assets $ 4,730.7 Liabilities Total securities sold, not yet purchased $ 64.0 $ — $ — $ 64.0 Liability-classified capital instruments — 33.9 42.1 76.0 Derivative liabilities — — 2.9 2.9 Total liabilities $ 64.0 $ 33.9 $ 45.0 $ 142.9 December 31, 2021 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Asset-backed securities $ — $ 513.1 $ — $ 513.1 Residential mortgage-backed securities — 301.9 — 301.9 Commercial mortgage-backed securities — 147.3 — 147.3 Corporate debt securities — 602.6 — 602.6 U.S. Government and government agency 360.9 24.5 — 385.4 Non-U.S. government and government agency 17.8 114.5 — 132.3 U.S. States, municipalities, and political subdivision — 0.2 — 0.2 Preferred stocks — — 2.8 2.8 Total debt securities 378.7 1,704.1 2.8 2,085.6 Fixed income mutual funds 2.1 — — 2.1 Common stocks 0.7 — — 0.7 Total equity securities 2.8 — — 2.8 Short-term investments 1,073.2 2.6 — 1,075.8 Other long-term investments — — 336.9 336.9 Derivative assets 0.2 — 0.4 0.6 $ 1,454.9 $ 1,706.7 $ 340.1 3,501.7 Investments in funds valued at NAV 1,028.8 Total assets $ 4,530.5 Liabilities Liability-classified capital instruments $ — $ 30.6 $ 57.2 $ 87.8 Derivative liabilities — — 3.2 3.2 Total liabilities $ — $ 30.6 $ 60.4 $ 91.0
Reconciliation of assets measured at fair value using Level 3 inputs	The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three months ended March 31, 2022 and 2021: January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired (1) Sales Realized and Unrealized Gains (Losses) (2) March 31, Assets Preferred stocks $ 2.8 $ — $ — $ — $ — $ 0.5 $ 3.3 Other long-term investments 336.9 (40.6) 34.2 — (10.0) (5.2) 315.3 Derivative assets 0.4 — — — (1.7) (1.1) (2.4) Total assets $ 340.1 $ (40.6) $ 34.2 $ — $ (11.7) $ (5.8) $ 316.2 Liabilities Liability-classified capital instruments $ (57.2) $ — $ — $ — $ — $ 15.1 $ (42.1) Derivative liabilities (3.2) — (1.9) — — 0.3 (4.8) Total liabilities $ (60.4) $ — $ (1.9) $ — $ — $ 15.4 $ (46.9) January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired (1) Sales Realized and Unrealized Gains (Losses) (2) March 31, Assets Preferred stocks $ — $ — $ — $ 2.8 $ — $ — $ 2.8 Other long-term investments 4.0 — 13.6 259.0 — — 276.6 Derivative assets 1.2 — — 0.3 (1.0) 35.6 36.1 Loan participations — — — 32.8 — 1.7 34.5 Total assets $ 5.2 $ — $ 13.6 $ 294.9 $ (1.0) $ 37.3 $ 350.0 Liabilities Liability-classified capital instruments $ — $ — $ (135.0) $ — $ — $ — $ (135.0) Contingent consideration — — — (0.7) — (0.8) (1.5) Derivative liabilities (1.0) — — (2.0) — (0.5) (3.5) Total liabilities $ (1.0) $ — $ (135.0) $ (2.7) $ — $ (1.3) $ (140.0) (1) Includes amounts acquired as a result of the Sirius Group acquisition. (2) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in total realized and unrealized investment gains (losses) and net investment income (loss) in the consolidated statements of income (loss). Realized and unrealized gains (losses) related to underwriting-related derivative assets and liabilities are included in other underwriting expenses, net of foreign exchange (gains) losses, in the consolidated statements of income (loss).
Reconciliation of liabilities measured at fair value using Level 3 inputs	The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three months ended March 31, 2022 and 2021: January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired (1) Sales Realized and Unrealized Gains (Losses) (2) March 31, Assets Preferred stocks $ 2.8 $ — $ — $ — $ — $ 0.5 $ 3.3 Other long-term investments 336.9 (40.6) 34.2 — (10.0) (5.2) 315.3 Derivative assets 0.4 — — — (1.7) (1.1) (2.4) Total assets $ 340.1 $ (40.6) $ 34.2 $ — $ (11.7) $ (5.8) $ 316.2 Liabilities Liability-classified capital instruments $ (57.2) $ — $ — $ — $ — $ 15.1 $ (42.1) Derivative liabilities (3.2) — (1.9) — — 0.3 (4.8) Total liabilities $ (60.4) $ — $ (1.9) $ — $ — $ 15.4 $ (46.9) January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired (1) Sales Realized and Unrealized Gains (Losses) (2) March 31, Assets Preferred stocks $ — $ — $ — $ 2.8 $ — $ — $ 2.8 Other long-term investments 4.0 — 13.6 259.0 — — 276.6 Derivative assets 1.2 — — 0.3 (1.0) 35.6 36.1 Loan participations — — — 32.8 — 1.7 34.5 Total assets $ 5.2 $ — $ 13.6 $ 294.9 $ (1.0) $ 37.3 $ 350.0 Liabilities Liability-classified capital instruments $ — $ — $ (135.0) $ — $ — $ — $ (135.0) Contingent consideration — — — (0.7) — (0.8) (1.5) Derivative liabilities (1.0) — — (2.0) — (0.5) (3.5) Total liabilities $ (1.0) $ — $ (135.0) $ (2.7) $ — $ (1.3) $ (140.0) (1) Includes amounts acquired as a result of the Sirius Group acquisition. (2) Total change in realized and unrealized gains (losses) recorded on Level 3 financial instruments is included in total realized and unrealized investment gains (losses) and net investment income (loss) in the consolidated statements of income (loss). Realized and unrealized gains (losses) related to underwriting-related derivative assets and liabilities are included in other underwriting expenses, net of foreign exchange (gains) losses, in the consolidated statements of income (loss).
Schedule of financial instruments for which the carrying value differs from the estimated fair values	The following table includes financial instruments for which the carrying value differs from the estimated fair values at March 31, 2022 and December 31, 2021. The fair values of the below financial instruments are based on observable inputs and are considered Level 2 measurements. March 31, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value 2017 SEK Subordinated Notes $ 293.6 $ 288.3 $ 302.3 $ 296.3 2016 Senior Notes 391.4 405.7 412.8 406.0 2015 Senior Notes 114.9 114.5 120.5 114.4 Series B preference shares $ 210.2 $ 200.0 $ 220.9 $ 200.0

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of debt securities	The following tables provide the cost or amortized cost, gross unrealized investment gains (losses), net foreign currency gains (losses), and fair value of the Company's debt securities as of March 31, 2022 and December 31, 2021: March 31, 2022 Cost or Gross Gross Net foreign Fair value Asset-backed securities $ 723.6 $ 0.7 $ (6.2) $ — $ 718.1 Residential mortgage-backed securities 413.9 — (20.9) — 393.0 Commercial mortgage-backed securities 139.6 0.2 (7.1) — 132.7 Corporate debt securities 774.7 1.1 (24.1) 0.6 752.3 U.S. government and government agency (1) 503.2 — (14.1) — 489.1 Non-U.S. government and government agency 138.9 — (4.6) — 134.3 Preferred stocks 2.6 0.7 — — 3.3 Total debt securities $ 2,696.5 $ 2.7 $ (77.0) $ 0.6 $ 2,622.8 (1) The Company had $64.0 million of short positions in long duration U.S. Treasuries as of March 31, 2022. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. December 31, 2021 Cost or Gross Gross Net foreign Fair value Asset-backed securities $ 512.6 $ 0.9 $ (0.4) $ — $ 513.1 Residential mortgage-backed securities 306.5 — (4.6) — 301.9 Commercial mortgage-backed securities 148.4 0.6 (1.7) — 147.3 Corporate debt securities 605.5 0.6 (3.5) — 602.6 U.S. government and government agency (1) 388.1 0.1 (2.8) — 385.4 Non-U.S. government and government agency 135.4 0.3 (2.6) (0.8) 132.3 U.S. states, municipalities and political subdivision 0.2 — — — 0.2 Preferred stocks 2.6 0.2 — — 2.8 Total debt securities $ 2,099.3 $ 2.7 $ (15.6) $ (0.8) $ 2,085.6 (1) The Company had $nil of short positions in long duration U.S. Treasuries as of December 31, 2021. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets.
Schedule of debt securities by contractual maturity	The following table provides the cost or amortized cost and fair value of the Company's debt securities as of March 31, 2022 and December 31, 2021 by contractual maturity. Actual maturities could differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with or without call or prepayment penalties. March 31, 2022 December 31, 2021 Cost or Fair value Cost or Fair value Due in one year or less $ 174.2 $ 172.7 $ 145.6 $ 145.1 Due after one year through five years 1,012.1 980.4 870.4 862.4 Due after five years through ten years 153.7 146.5 69.6 68.6 Due after ten years 76.9 76.1 43.6 44.4 Mortgage-backed and asset-backed securities 1,277.0 1,243.8 967.5 962.3 Preferred stocks 2.6 3.3 2.6 2.8 Total debt securities $ 2,696.5 $ 2,622.8 $ 2,099.3 $ 2,085.6
Schedule of the ratings and fair value of debt securities	The following table summarizes the ratings and fair value of debt securities held in the Company's investment portfolio as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 AAA $ 762.9 $ 696.4 AA 1,073.8 884.1 A 340.4 278.5 BBB 297.9 153.1 Other 147.8 73.5 Total debt securities (1) $ 2,622.8 $ 2,085.6 (1) Credit ratings are assigned based on the following hierarchy: (1) Standard & Poor's ("S&P") and (2) Moody's Investors Service.
Schedule of equity securities and other long-term investments	The cost or amortized cost, gross unrealized investment gains and losses, net foreign currency gains, and fair values of the Company’s equity securities and other long-term investments as of March 31, 2022 and December 31, 2021, were as follows: March 31, 2022 Cost or Gross Gross Net foreign Fair value Equity securities $ 1.8 $ 0.9 $ — $ — $ 2.7 Other long-term investments $ 458.2 $ 26.7 $ (48.1) $ 1.4 $ 438.2 December 31, 2021 Cost or Gross Gross Net foreign Fair value Equity securities $ 4.5 $ 0.1 $ (2.0) $ 0.2 $ 2.8 Other long-term investments $ 443.0 $ 28.9 $ (16.8) $ 1.0 $ 456.1 Equity securities at fair value consisted of the following as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Fixed income mutual funds $ 2.5 $ 2.1 Common stocks 0.2 0.7 Total equity securities $ 2.7 $ 2.8 The carrying value of Other long-term investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Hedge funds and private equity funds (1) $ 152.4 $ 195.7 Strategic Investments (2) 245.8 215.3 Limited liability companies and private equity securities (2) 40.0 45.1 Total other long-term investments $ 438.2 $ 456.1 (1) Includes $118.4 million of investments valued at NAV (December 31, 2021 - $115.2 million) and $34.0 million of investments valued at Level 3 ( December 31, 2021 - $80.5 million) . (2) As of March 31, 2022, the Company had $10.4 million of unfunded commitments relating to these investments ( December 31, 2021 - $13.8 million).
Schedule of investments in hedge funds and private equity interests by investment objective and sector	The following table summarizes investments in hedge funds and private equity interests by investment objective and sector as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Fair value Unfunded Fair value Unfunded Hedge funds Long/short multi-sector $ 15.3 $ — $ 19.8 $ — Distressed mortgage credit 12.8 — 24.6 — Private credit 25.1 — 24.2 — Other 1.4 — 1.7 — Total hedge funds 54.6 — 70.3 — Private equity funds Energy infrastructure & services 55.2 15.4 48.4 19.0 Multi-sector 8.4 5.1 10.1 5.1 Healthcare 16.0 0.3 31.0 2.2 Life settlement 14.8 — 12.9 — Manufacturing/Industrial — — 19.9 — Private equity secondaries 0.6 0.4 0.5 0.4 Other 2.8 — 2.6 — Total private equity funds 97.8 21.2 125.4 26.7 Total hedge and private equity funds included in other long-term investments $ 152.4 $ 21.2 $ 195.7 $ 26.7
Schedule of other long-term investments subject to restrictions	The following summarizes the March 31, 2022 fair value of hedge funds subject to restrictions on redemption frequency and advance notice period requirements for investments in active hedge funds: Notice Period Redemption Frequency 1-29 days 30-59 days 60-89 days 90-119 days 120+ days Total Quarterly $ — $ 0.1 $ 15.3 $ 12.9 $ — $ 28.3 Semi-annual — — 0.6 — — 0.6 Annual — — — 0.6 25.1 25.7 Total $ — $ 0.1 $ 15.9 $ 13.5 $ 25.1 $ 54.6 As of March 31, 2022, investments in private equity funds were subject to lock-up periods as follows: 1 - 3 years 3 – 5 years 5 – 10 years Total Private equity funds – expected lock-up or commitment period remaining $ 53.0 $ 27.9 $ 16.9 $ 97.8
Schedule of investments in related party investment funds	The following table provides the cost and fair value of the Company's investments in related party investment funds as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Cost Fair value Cost Fair value Third Point Enhanced LP $ 316.0 $ 649.9 $ 416.0 $ 878.2 Third Point Venture Offshore Fund I LP 25.9 28.7 25.9 31.4 Investments in related party investment funds, at fair value $ 341.9 $ 678.6 $ 441.9 $ 909.6

Total realized and unrealized_2

Total realized and unrealized investment gains (losses) and net investment income (loss) (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of total realized and unrealized investment gains (losses) and net investment income (loss)	Total realized and unrealized investment gains (losses) and net investment income (loss) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Debt securities $ (59.3) $ (7.8) Short-term investments (1.7) — Equity securities (0.1) 0.3 Other long-term investments (1.0) 49.2 Net realized and unrealized investment gains (losses) from related party investment funds (131.0) 153.2 Realized and unrealized investment gains (losses) and net investment income (loss) before other investment expenses and investment loss on cash and cash equivalents (193.1) 194.9 Other investment expenses (4.2) (1.0) Net investment loss on cash and cash equivalents (7.8) (7.4) Total realized and unrealized investment gains (losses) and net investment income (loss) $ (205.1) $ 186.5
Schedule of net realized investment gains (losses)	Net realized and unrealized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Gross realized gains $ 11.2 $ 19.3 Gross realized losses (13.8) (0.4) Net realized (losses) gains on investments (2.6) 18.9 Net unrealized gains (losses) on investments (79.3) 12.6 Net realized and unrealized gains (losses) on investments (1) (2) $ (81.9) $ 31.5 (1) Excludes realized and unrealized gains (losses) on the Company’s investments in related party investment funds. (2) Includes net realized and unrealized gains of $1.6 million from related party investments included in other long-term investments for the three months ended March 31, 2022 (2021 - $44.9 million). Net realized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Debt securities $ (4.2) $ 6.3 Short-term investments (0.2) — Equity securities (2.3) 0.4 Other long-term investments 0.3 9.9 Net investment income on cash and cash equivalents 3.8 2.3 Net realized investment gains (losses) (1) $ (2.6) $ 18.9 (1) Includes realized gains due to foreign currency of $2.8 million for the three months ended March 31, 2022 (2021 - $2.1 million).
Schedule of net unrealized investment gains (losses)	Net realized and unrealized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Gross realized gains $ 11.2 $ 19.3 Gross realized losses (13.8) (0.4) Net realized (losses) gains on investments (2.6) 18.9 Net unrealized gains (losses) on investments (79.3) 12.6 Net realized and unrealized gains (losses) on investments (1) (2) $ (81.9) $ 31.5 (1) Excludes realized and unrealized gains (losses) on the Company’s investments in related party investment funds. (2) Includes net realized and unrealized gains of $1.6 million from related party investments included in other long-term investments for the three months ended March 31, 2022 (2021 - $44.9 million). Net unrealized investment gains (losses) for the three months ended March 31, 2022 and 2021 consisted of the following: 2022 2021 Debt securities (1) $ (64.1) $ (16.9) Short-term investments (2.0) — Equity securities 2.1 (0.1) Other long-term investments (3.2) 39.3 Net investment loss on cash and cash equivalents (12.1) (9.7) Net unrealized investment gains (losses) (2) $ (79.3) $ 12.6 (1) Includes unrealized losses, excluding foreign currency, of $(60.1) million for the three months ended March 31, 2022. (2) Includes unrealized gains (losses) due to foreign currency of $(9.4) million for the three months ended March 31, 2022 (2021 - $(16.3) million). The following table summarizes the amount of total gains (losses) included in earnings attributable to unrealized investment gains (losses) – Level 3 investments for the three months ended March 31, 2022 and 2021: 2022 2021 Debt securities $ 0.5 $ — Other long-term investments (3.9) 35.6 Total unrealized investment gains (losses) – Level 3 investments $ (3.4) $ 35.6

Investments in unconsolidated_2

Investments in unconsolidated entities (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of other long-term investments	The following table presents the components of other long-term investments as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Equity method eligible unconsolidated entities, using the fair value option (1) (3) $ 216.8 $ 225.3 Equity method investments 26.0 26.7 Other unconsolidated investments, at fair value (2) 157.8 198.0 Other unconsolidated investments, at cost (3) 37.6 6.0 Total other long-term investments $ 438.2 $ 456.1 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund which are equity method eligible but are carried outside of other long-term investments. See Notes 7 and 11 for additional information on these related party investment funds. (2) Includes other long-term investments that are not equity method eligible and are measured at fair value. (3) The Company has elected to apply the cost minus impairment measurement alternative to investments that do not meet the criteria to be accounted for under the equity method, in which the investment is measured at cost and remeasured to fair value when impaired or upon observable transaction prices.
Schedule of ownership interest in equity method eligible unconsolidated entities	The following table presents the Company’s significant equity method investee entities under fair value option in which it holds 20 percent or more (5 percent or more for limited partnerships and limited liability companies) of the ownership interest as of March 31, 2022: March 31, 2022 December 31, 2021 Investee Fair value Ownership interest Fair value Ownership interest Instrument held BE Reinsurance Limited $ 14.8 24.9 % $ 15.2 24.9 % Common shares BioVentures Investors (Offshore) IV LP 16.0 73.0 % 16.6 73.0 % Units Diamond LS I LP 8.8 15.3 % 7.1 15.3 % Units Gateway Fund LP 4.6 18.1 % 4.0 18.1 % Units Monarch Alternative Capital, LP 6.0 12.8 % 5.7 12.8 % Units New Energy Capital Infrastructure Credit Fund LP 22.4 18.3 % 20.1 18.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 14.9 12.2 % 13.4 12.2 % Units Great Bay LLC 1.0 11.1 % 1.0 11.1 % Units Tuckerman Capital V LP — — % 11.3 42.1 % Units Tuckerman Capital V Co-Investment I LP $ — — % $ 8.6 47.3 % Units (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund. See Notes 7 and 11 for additional information on these related party investment funds.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table summarizes information on the classification and amount of the fair value of derivatives not designated as hedging instruments within the Company's consolidated balance sheets as at March 31, 2022: March 31, 2022 December 31, 2021 Derivatives not designated as hedging instruments Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Value Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Foreign currency swaps $ — $ — $ — $ — $ 1.7 $ 40.0 Foreign currency forwards — 2.3 84.4 — 1.3 83.6 Foreign currency futures contracts — — 286.9 0.2 — 133.9 Weather derivatives — 2.1 22.5 — 0.8 6.2 Equity warrants — — — 0.1 — 0.1 Interest rate cap $ — $ — $ 75.0 $ — $ — $ 250.0 (1) Derivative assets are classified within other assets in the Company’s consolidated balance sheets as of March 31, 2022. (2) Derivative liabilities are classified within accounts payable, accrued expenses and other liabilities in the Company’s consolidated balance sheets as of March 31, 2022. The following tables identify the listing currency, fair value and notional amounts of underwriting-related derivatives included in the consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Derivative assets Listing currency Fair Value Notional Amounts (1) Fair Value Notional Amounts (1) Reinsurance contracts accounted for as derivative assets British Pound $ 1.5 $ 49.6 $ 1.2 $ 49.3 Derivative liabilities Reinsurance contracts accounted for as derivative liabilities British Pound $ 0.6 $ 59.8 $ 0.1 $ 37.4 (1) The absolute notional exposure represents the Company’s derivative activity as of March 31, 2022 and December 31, 2021, which is representative of the volume of derivatives held during the period.
Schedule of net impact on earnings relating to derivatives	The following table summarizes information on the classification and net impact on earnings, recognized in the Company’s consolidated statements of income (loss) relating to derivatives during the three months ended March 31, 2022: Derivatives not designated as hedging instruments Classification of gains (losses) recognized in earnings 2022 2021 Foreign currency swaps Foreign exchange gains $ — $ (0.4) Foreign currency forwards Foreign exchange gains (1.0) — Foreign currency futures contracts Foreign exchange gains (5.9) (0.1) Weather derivatives Other revenues (0.5) (3.7) Equity put options Net realized and unrealized investment gains (losses) — (1.6) Equity warrants Net realized and unrealized investment gains (losses) $ (0.1) $ —

Variable interest entities (Tab

Variable interest entities (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reconciliation of noncontrolling interests	The following table is a reconciliation of the beginning and ending carrying amount of noncontrolling interests for the three months ended March 31, 2022 and 2021: March 31, 2022 March 31, 2021 Balance, beginning of period $ (0.4) $ 1.4 Sirius Group acquisition (1) — 0.3 Net loss attributable to noncontrolling interests (0.3) — Contributions — 0.1 Balance, end of period $ (0.7) $ 1.8 (1) See Note 3 for additional information related to the acquisition of Sirius Group.
Schedule of information related to unconsolidated variable interest entities	The following table presents total assets of unconsolidated VIEs in which the Company holds a variable interest, as well as the maximum exposure to loss associated with these VIEs as of March 31, 2022 and December 31, 2021: March 31, 2022 Maximum Exposure to Loss Total VIE Assets On-Balance Sheet Off-Balance Sheet Total Other long-term investments (1) $ 276.5 $ 160.3 $ 2.0 $ 162.3 $ 276.5 $ 160.3 $ 2.0 $ 162.3 December 31, 2021 Maximum Exposure to Loss Total VIE Assets On-Balance Sheet Off-Balance Sheet Total Other long-term investments (1) $ 326.2 $ 177.5 $ 2.1 $ 179.6 $ 326.2 $ 177.5 $ 2.1 $ 179.6 (1) The above table excludes the Company’s investments in TP Enhanced Fund and TP Venture Fund which are also VIEs and are discussed separately below. This summarized income statement of TP Enhanced Fund reflects the main components of total investment income and expenses of TP Enhanced Fund. This summarized income statement is not a breakdown of the Company’s proportional investment income in TP Enhanced Fund as presented in the Company’s consolidated statements of income (loss). TP Enhanced Fund summarized income statement 2022 2021 Investment income (loss) Net realized gain from securities, derivative contracts and foreign currency translations $ 79.9 $ 148.4 Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations (226.1) 71.5 Net income from currencies 0.1 0.8 Dividend and interest income 8.3 5.4 Other income 0.1 — Total investment income (loss) $ (137.7) $ 226.1 Expenses Management fees $ 2.3 $ 4.0 Interest 1.1 1.5 Dividends on securities sold, not yet purchased 0.8 1.5 Administrative and professional fees 0.7 0.7 Other expenses 0.5 1.3 Total expenses 5.4 9.0 Net income (loss) $ (143.1) $ 217.1 The following table is a summarized balance sheet of TP Enhanced Fund as of March 31, 2022 and December 31, 2021 and reflects the underlying assets and liabilities of TP Enhanced Fund. This summarized balance sheet is not a breakdown of the Company’s proportional interests in the underlying assets and liabilities of TP Enhanced Fund. TP Enhanced Fund summarized balance sheet March 31, December 31, 2021 Assets Total investments in securities and affiliated funds $ 830.7 $ 1,623.5 Cash and cash equivalents 0.1 0.1 Due from brokers 547.6 524.0 Derivative assets, at fair value 35.3 46.5 Interest and dividends receivable 1.8 3.1 Other assets 1.5 1.5 Total assets $ 1,417.0 $ 2,198.7 Liabilities Accounts payable and accrued expenses $ 1.1 $ 1.1 Securities sold, not yet purchased, at fair value 352.8 290.4 Securities sold under agreement to repurchase 32.5 33.6 Due to brokers 289.7 493.6 Derivative liabilities, at fair value 13.8 8.4 Withdrawals payable to General Partner — 139.5 Redemptions payable to SiriusPoint — 250.0 Interest and dividends payable 0.6 0.7 Management fee payable 0.1 0.2 Total liabilities 690.6 1,217.5 Total partners' capital $ 726.4 $ 981.2

Loss and loss adjustment expe_2

Loss and loss adjustment expense reserves (Tables)	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
Schedule of loss and loss adjustment expense reserves	The following table represents the activity in the loss and loss adjustment expense reserves for the three months ended March 31, 2022 and 2021: 2022 2021 Gross reserves for loss and loss adjustment expenses, beginning of period $ 4,841.4 $ 1,310.1 Less: loss and loss adjustment expenses recoverable, beginning of period (1,215.3) (14.4) Less: deferred charges on retroactive reinsurance contracts (1.4) (6.0) Net reserves for loss and loss adjustment expenses, beginning of period 3,624.7 1,289.7 Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: Current year 345.6 146.5 Prior years (5.5) 0.4 Total incurred loss and loss adjustment expenses 340.1 146.9 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (38.3) (14.7) Prior years (254.1) (117.2) Total net paid losses (292.4) (131.9) Foreign currency translation (16.3) (10.6) Amounts acquired as a result of Sirius Group acquisition (1) — 2,467.8 Net reserves for loss and loss adjustment expenses, end of period 3,656.1 3,761.9 Plus: loss and loss adjustment expenses recoverable, end of period 1,278.6 492.6 Plus: deferred charges on retroactive reinsurance contracts (2) 1.3 4.8 Gross reserves for loss and loss adjustment expenses, end of period $ 4,936.0 $ 4,259.3 (1) Represents the fair value of Sirius Group’s reserves for claims and claim expenses, net of reinsurance recoverables, acquired at February 26, 2021. See Note 3 for additional information related to the acquisition of Sirius Group. (2) Deferred charges on retroactive contracts are recorded in other assets on the Company’s consolidated balance sheets.

Allowance for expected credit_2

Allowance for expected credit losses (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Schedule of assets in scope of the current expected credit losses assessment	The Company's assets in scope of the current expected credit loss assessment as of March 31, 2022 and December 31, 2021 are as follows: March 31, December 31, 2021 Insurance and reinsurance balances receivable, net $ 1,936.8 $ 1,708.2 Loss and loss adjustment expenses recoverable, net 1,278.6 1,215.3 Other assets (1) 45.3 14.5 Total assets in scope $ 3,260.7 $ 2,938.0 (1) Relates to MGA trade receivables included in other assets in the Company’s consolidated balance sheets.

Debt and letter of credit fac_2

Debt and letter of credit facilities (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of debt obligations	The following table represents a summar y of the Company’s debt obl igations on its consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Amount Effective rate (1) Amount Effective rate (1) 2017 SEK Subordinated Notes, at face value $ 294.8 4.0 % $ 303.1 4.1 % Unamortized discount (6.5) (6.8) 2017 SEK Subordinated Notes, carrying value 288.3 296.3 2016 Senior Notes, at face value 400.0 4.5 % 400.0 4.5 % Unamortized premium 5.7 6.0 2016 Senior Notes, carrying value 405.7 406.0 2015 Senior Notes, at face value 115.0 7.0 % 115.0 7.0 % Unamortized issuance costs (0.6) (0.6) 2015 Senior Notes, carrying value 114.4 114.4 Total debt $ 808.4 $ 816.7 (1) Effective rate considers the effect of the debt issuance costs, discount, and premium.
Schedule of letter of credit facilities	As of March 31, 2022, the Company had entered into the following letter of credit facilities: Letters of Credit Collateral Committed Capacity Issued Cash and Cash Equivalents Debt securities Committed - Secured letters of credit facilities $ 330.0 $ 275.0 $ 41.9 $ 162.1 Uncommitted - Secured letters of credit facilities n/a 943.0 539.0 645.0 $ 1,218.0 $ 580.9 $ 807.1

Shareholders' equity (Tables)

Shareholders' equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of common shares issued and outstanding	The following table presents a summary of the common shares issued and outstanding and shares repurchased as of and for the three months ended March 31, 2022 and 2021: 2022 2021 Common shares issued and outstanding, beginning of period 161,929,777 95,582,733 Issuance of common shares, net of forfeitures and shares withheld 656,822 2,081,001 Performance restricted shares granted, net of forfeitures and shares withheld — (197,418) Issuance of common shares for Sirius Group acquisition — 58,331,196 Issuance of common shares to related party — 6,093,842 Shares repurchased (645,047) — Common shares issued and outstanding, end of period 161,941,552 161,891,354

Earnings (loss) per share ava_2

Earnings (loss) per share available to SiriusPoint common shareholders (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Computation of basic and diluted earnings (loss) per share available to SiriusPoint common shareholders	The following sets forth the computation of basic and diluted earnings (loss) per share available to SiriusPoint common shareholders for the three months ended March 31, 2022 and 2021: 2022 2021 Weighted-average number of common shares outstanding: Basic number of common shares outstanding 159,867,593 116,760,760 Dilutive effect of options — 184,470 Dilutive effect of warrants — 51,650 Dilutive effect of restricted share units — 1,149,461 Diluted number of common shares outstanding 159,867,593 118,146,341 Basic earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (217.0) $ 168.4 Net income allocated to SiriusPoint participating common shareholders — (8.3) Net income (loss) allocated to SiriusPoint common shareholders $ (217.0) $ 160.1 Basic earnings (loss) per share available to SiriusPoint common shareholders $ (1.36) $ 1.37 Diluted earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (217.0) $ 168.4 Net income allocated to SiriusPoint participating common shareholders — (8.3) Net income (loss) allocated to SiriusPoint common shareholders $ (217.0) $ 160.1 Diluted earnings (loss) per share available to SiriusPoint common shareholders $ (1.36) $ 1.35

Related party transactions (Tab

Related party transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of related party fees	The total management, advisory and performance fees to related parties for the three months ended March 31, 2022 and 2021 were as follows: 2022 2021 Management and advisory fees $ 2.7 $ 4.1 Performance fees 0.2 38.1 Total management, advisory and performance fees to related parties $ 2.9 $ 42.2

Commitment and contingencies (T

Commitment and contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of lease balances	The following table presents the lease balances within the consolidated balance sheets as of March 31, 2022 and December 31, 2021: March 31, December 31, 2021 Operating lease right-of-use assets $ 24.5 $ 27.4 Operating lease liabilities $ (30.0) $ (32.5) Weighted average lease term (years) 5.0 5.0 Weighted average discount rate 2.3 % 2.4 %
Schedule of future minimum rental commitments	Future minimum rental commitments as of March 31, 2022 under these leases are expected to be as follows: Future Payments Remainder of 2022 $ 7.8 2023 7.9 2024 4.6 2025 3.2 2026 and thereafter 8.1 Total future annual minimum rental payments 31.6 Less: present value discount (1.6) Total lease liability as of March 31, 2022 $ 30.0

Organization (Details)

Organization (Details)	3 Months Ended
	Mar. 31, 2022segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Significant accounting polici_3

Significant accounting policies (Details) - Sirius Group - USD ($) $ in Millions	Feb. 26, 2021	Mar. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Bargain purchase gain	$ 50.4
Revision of prior period, error correction, adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Bargain purchase gain		$ 37.5

Acquisition of Sirius Group - N

Acquisition of Sirius Group - Narrative (Details) - USD ($)	Feb. 26, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Dividends paid to preference shareholders		$ 4,000,000	$ 0
Liability-classified capital instruments		76,000,000		$ 87,800,000
Public warrants | Sirius Group
Business Acquisition [Line Items]
Warrant exercise price (in dollars per share)	$ 18.89
Series A preference shares
Business Acquisition [Line Items]
Liability-classified capital instruments		13,800,000
Merger warrants
Business Acquisition [Line Items]
Liability-classified capital instruments		27,700,000
Private warrants
Business Acquisition [Line Items]
Liability-classified capital instruments		600,000
Public warrants
Business Acquisition [Line Items]
Liability-classified capital instruments		0
CVRs
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		(3,300,000)
Liability-classified capital instruments		33,900,000
Liability-classified capital instruments | Series A preference shares
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		6,600,000
Liability-classified capital instruments | Merger warrants
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		4,800,000
Liability-classified capital instruments | Private warrants
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		2,600,000
Liability-classified capital instruments | Public warrants
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		1,100,000
Sirius Group
Business Acquisition [Line Items]
Aggregate consideration	$ 1,079,800,000
Cash consideration	100,400,000
Other transaction-related services	45,500,000
Bargain purchase gain	$ 50,400,000
Sirius Group | Series A preference shares
Business Acquisition [Line Items]
Dividends paid to preference shareholders		$ 0
Sirius Group | Common shares
Business Acquisition [Line Items]
Issuance of SiriusPoint common shares (in shares)	58,331,196
Equity interests issued	$ 595,600,000
Sirius Group | Contingent value components
Business Acquisition [Line Items]
Equity interests issued	$ 338,300,000
Sirius Group | Series A preference shares
Business Acquisition [Line Items]
Issuance of SiriusPoint common shares (in shares)	11,720,987
Par value (in dollars per share)	$ 0.10
Sirius Group | Merger warrants
Business Acquisition [Line Items]
Number of shares in which the warrants can be converted (in shares)		21,009,324

Acquisition of Sirius Group - F

Acquisition of Sirius Group - Financial results included in the condensed consolidated statements of income (Details) - Sirius Group $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Business Acquisition [Line Items]
Total revenues	$ 146.2
Net income	$ 23.3

Acquisition of Sirius Group - S

Acquisition of Sirius Group - Supplemental pro forma information (Details) - Sirius Group $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Business Acquisition [Line Items]
Total revenues	$ 664.7
Net income (loss)	$ 165.8

Segment reporting - Narrative (

Segment reporting - Narrative (Details)	3 Months Ended
	Mar. 31, 2022segmentproduct
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Reinsurance | Credit & Bond | Minimum
Segment Reporting Information [Line Items]
Credit insurance coverage period	60 days
Reinsurance | Credit & Bond | Maximum
Segment Reporting Information [Line Items]
Credit insurance coverage period	120 days
Insurance & Services | Environmental
Segment Reporting Information [Line Items]
Number of core products | product	4

Segment reporting - Operating s

Segment reporting - Operating segment results (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Gross premiums written	$ 1,009.7	$ 355.8
Net premiums written	713.9	299.5
Net premiums earned	529.3	245.2
Loss and loss adjustment expenses incurred, net	340.1	146.9
Acquisition costs, net	108.5	69
Other underwriting expenses	47.2	20.8
Underwriting income (loss)	33.5	8.5
Segment Income (Loss)	33.5	8.5
Net realized and unrealized investment gains (losses)	(81.9)	31.5
Net realized and unrealized investment gains (losses) from related party investment funds	(131)	153.2
Other net investment income	7.8	1.8
Other revenues	37.2	56.9
Net corporate and other expenses	(77.4)	(78.9)
Intangible asset amortization	(1.9)	(0.8)
Interest expense	(9.3)	(4.9)
Foreign exchange gains (losses)	19.4	12.4
Income (loss) before income tax expense	(203.6)	179.7
Income tax expense	(9.7)	(9.8)
Net income (loss)	(213.3)	169.9
Net loss attributable to noncontrolling interests	0.3	0
Net income (loss) available to SiriusPoint	$ (213)	$ 169.9
Underwriting Ratios:
Loss Ratio	64.30%	59.90%
Acquisition Cost Ratio	20.50%	28.10%
Underwriting Expense Ratio	8.90%	8.50%
Combined ratio	93.70%	96.50%
Core
Segment Reporting Information [Line Items]
Gross premiums written	$ 1,007.7	$ 349.6
Net premiums written	712.4	301.1
Net premiums earned	520.4	242.5
Loss and loss adjustment expenses incurred, net	328.5	136.8
Acquisition costs, net	133.4	73.1
Other underwriting expenses	45.8	17.4
Underwriting income (loss)	12.7	15.2
Segment Income (Loss)	26.7	57.9
Income (loss) before income tax expense	26.7	57.9
Income tax expense	0	0
Net income (loss)	26.7
Net loss attributable to noncontrolling interests	0
Net income (loss) available to SiriusPoint	$ 26.7	$ 57.9
Underwriting Ratios:
Loss Ratio	63.10%	56.40%
Acquisition Cost Ratio	25.60%	30.10%
Underwriting Expense Ratio	8.80%	7.20%
Combined ratio	97.50%	93.70%
Core | Services
Segment Reporting Information [Line Items]
Net Fee Income	$ 13.5	$ 7.6
Net realized and unrealized investment gains (losses)	(0.3)	35.1
Other revenues	56.8	18.2
Net corporate and other expenses	(43.3)	(10.6)
Net loss attributable to noncontrolling interests	0.8
Net income (loss) available to SiriusPoint	14	42.7
Eliminations
Segment Reporting Information [Line Items]
Gross premiums written	0	0
Net premiums written	0	0
Net premiums earned	0	0
Loss and loss adjustment expenses incurred, net	(1.2)	(0.2)
Acquisition costs, net	(25.6)	(5.7)
Other underwriting expenses	0	0
Underwriting income (loss)	26.8	5.9
Segment Income (Loss)	(4)	(1.5)
Income (loss) before income tax expense	(4)	(1.5)
Income tax expense	0	0
Net income (loss)	(4)
Net loss attributable to noncontrolling interests	0
Net income (loss) available to SiriusPoint	(4)	(1.5)
Eliminations | Services
Segment Reporting Information [Line Items]
Net Fee Income	(30.8)	(7.4)
Net realized and unrealized investment gains (losses)	0	0
Other revenues	(30.8)	(7.4)
Net corporate and other expenses	0	0
Net loss attributable to noncontrolling interests	0
Net income (loss) available to SiriusPoint	(30.8)	(7.4)
Corporate
Segment Reporting Information [Line Items]
Gross premiums written	2	6.2
Net premiums written	1.5	(1.6)
Net premiums earned	8.9	2.7
Loss and loss adjustment expenses incurred, net	12.8	10.3
Acquisition costs, net	0.7	1.6
Other underwriting expenses	1.4	3.4
Underwriting income (loss)	(6)	(12.6)
Segment Income (Loss)	(6)	(12.6)
Net realized and unrealized investment gains (losses)	(81.6)	(3.6)
Net realized and unrealized investment gains (losses) from related party investment funds	(131)	153.2
Other net investment income	7.8	1.8
Other revenues	11.2	46.1
Net corporate and other expenses	(34.1)	(68.3)
Intangible asset amortization	(1.9)	(0.8)
Interest expense	(9.3)	(4.9)
Foreign exchange gains (losses)	19.4	12.4
Income (loss) before income tax expense	(225.5)	123.3
Income tax expense	(9.7)	(9.8)
Net income (loss)	(235.2)
Net loss attributable to noncontrolling interests	(0.5)
Net income (loss) available to SiriusPoint	(235.7)	113.5
Segment Measure Reclass
Segment Reporting Information [Line Items]
Segment Income (Loss)	16.8	(35.3)
Net realized and unrealized investment gains (losses)	(0.3)	35.1
Other revenues	26	10.8
Net corporate and other expenses	(43.3)	(10.6)
Income (loss) before income tax expense	(0.8)	0
Income tax expense	0	0
Net income (loss)	(0.8)
Net loss attributable to noncontrolling interests	0.8
Net income (loss) available to SiriusPoint	0	0
Segment Measure Reclass | Services
Segment Reporting Information [Line Items]
Net Fee Income	17.3	(0.2)
Net realized and unrealized investment gains (losses)	0.3	(35.1)
Other revenues	(26)	(10.8)
Net corporate and other expenses	43.3	10.6
Net loss attributable to noncontrolling interests	(0.8)
Net income (loss) available to SiriusPoint	16.8	(35.3)
Reinsurance | Core
Segment Reporting Information [Line Items]
Gross premiums written	524.2	158.7
Net premiums written	374.9	161.5
Net premiums earned	307.6	199.8
Loss and loss adjustment expenses incurred, net	194.5	108.2
Acquisition costs, net	79.9	58.9
Other underwriting expenses	30.1	16.1
Underwriting income (loss)	3.1	16.6
Segment Income (Loss)	3.1	16.5
Income (loss) before income tax expense	$ 3.1	$ 16.5
Underwriting Ratios:
Loss Ratio	63.20%	54.20%
Acquisition Cost Ratio	26.00%	29.50%
Underwriting Expense Ratio	9.80%	8.10%
Combined ratio	99.00%	91.80%
Reinsurance | Core | Services
Segment Reporting Information [Line Items]
Net Fee Income	$ 0	$ 0
Net realized and unrealized investment gains (losses)	0	(0.1)
Other revenues	0	0
Net corporate and other expenses	0	0
Net loss attributable to noncontrolling interests	0
Net income (loss) available to SiriusPoint	0	(0.1)
Insurance & Services | Core
Segment Reporting Information [Line Items]
Gross premiums written	483.5	190.9
Net premiums written	337.5	139.6
Net premiums earned	212.8	42.7
Loss and loss adjustment expenses incurred, net	134	28.6
Acquisition costs, net	53.5	14.2
Other underwriting expenses	15.7	1.3
Underwriting income (loss)	9.6	(1.4)
Segment Income (Loss)	23.6	41.4
Income (loss) before income tax expense	$ 23.6	$ 41.4
Underwriting Ratios:
Loss Ratio	63.00%	67.00%
Acquisition Cost Ratio	25.10%	33.30%
Underwriting Expense Ratio	7.40%	3.00%
Combined ratio	95.50%	103.30%
Insurance & Services | Core | Services
Segment Reporting Information [Line Items]
Net Fee Income	$ 13.5	$ 7.6
Net realized and unrealized investment gains (losses)	(0.3)	35.2
Other revenues	56.8	18.2
Net corporate and other expenses	(43.3)	(10.6)
Net loss attributable to noncontrolling interests	0.8
Net income (loss) available to SiriusPoint	$ 14	$ 42.8

Cash, cash equivalents, restr_3

Cash, cash equivalents, restricted cash and restricted investments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 826.1	$ 999.8
Restricted cash	972.8	948.6
Total cash, cash equivalents and restricted cash	1,798.9	1,948.4	$ 2,343.7	$ 1,713.9
Restricted investments securing reinsurance contracts and letter of credit facilities	1,584.7	1,107
Total cash, cash equivalents, restricted cash and restricted investments	3,383.6	3,055.4
Managing general underwriters
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	20	16.6
Letter of credit facilities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	580.9	500.2
Reinsurance contracts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 371.9	$ 431.8

Fair value measurements - Inves

Fair value measurements - Investments categorized by the level of the fair value hierarchy (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets
Debt securities	$ 2,622.8	$ 2,085.6
Equity securities	2.7	2.8
Short-term investments	989	1,075.8
Other long-term investments	438.2	456.1
Total assets	4,730.7	4,530.5
Liabilities
Securities sold, not yet purchased	64	0
Liability-classified capital instruments	76	87.8
Derivative liabilities	2.9	3.2
Total liabilities	142.9	91
Asset-backed securities
Assets
Debt securities	718.1	513.1
Residential mortgage-backed securities
Assets
Debt securities	393	301.9
Commercial mortgage-backed securities
Assets
Debt securities	132.7	147.3
Corporate debt securities
Assets
Debt securities	752.3	602.6
U.S. government and government agency
Assets
Debt securities	489.1	385.4
Non-U.S. government and government agency
Assets
Debt securities	134.3	132.3
U.S. states, municipalities and political subdivision
Assets
Debt securities		0.2
Preferred stocks
Assets
Debt securities	3.3	2.8
Fixed income mutual funds
Assets
Equity securities	2.5	2.1
Common stocks
Assets
Equity securities	0.2	0.7
Fair Value, Inputs, Level 1, 2 and 3
Assets
Debt securities	2,622.8	2,085.6
Equity securities	2.7	2.8
Short-term investments	989	1,075.8
Other long-term investments	315.2	336.9
Derivative assets	(0.6)	0.6
Total assets	3,929.1	3,501.7
Fair Value, Inputs, Level 1, 2 and 3 | Asset-backed securities
Assets
Debt securities	718.1	513.1
Fair Value, Inputs, Level 1, 2 and 3 | Residential mortgage-backed securities
Assets
Debt securities	393	301.9
Fair Value, Inputs, Level 1, 2 and 3 | Commercial mortgage-backed securities
Assets
Debt securities	132.7	147.3
Fair Value, Inputs, Level 1, 2 and 3 | Corporate debt securities
Assets
Debt securities	752.3	602.6
Fair Value, Inputs, Level 1, 2 and 3 | U.S. government and government agency
Assets
Debt securities	489.1	385.4
Fair Value, Inputs, Level 1, 2 and 3 | Non-U.S. government and government agency
Assets
Debt securities	134.3	132.3
Fair Value, Inputs, Level 1, 2 and 3 | U.S. states, municipalities and political subdivision
Assets
Debt securities		0.2
Fair Value, Inputs, Level 1, 2 and 3 | Preferred stocks
Assets
Debt securities	3.3	2.8
Fair Value, Inputs, Level 1, 2 and 3 | Fixed income mutual funds
Assets
Equity securities	2.5	2.1
Fair Value, Inputs, Level 1, 2 and 3 | Common stocks
Assets
Equity securities	0.2	0.7
Quoted prices in active markets (Level 1)
Assets
Debt securities	497.8	378.7
Equity securities	2.7	2.8
Short-term investments	986.4	1,073.2
Other long-term investments	0	0
Derivative assets	0	0.2
Total assets	1,486.9	1,454.9
Liabilities
Securities sold, not yet purchased	64
Liability-classified capital instruments	0	0
Derivative liabilities	0	0
Total liabilities	64	0
Quoted prices in active markets (Level 1) | Asset-backed securities
Assets
Debt securities	0	0
Quoted prices in active markets (Level 1) | Residential mortgage-backed securities
Assets
Debt securities	0	0
Quoted prices in active markets (Level 1) | Commercial mortgage-backed securities
Assets
Debt securities	0	0
Quoted prices in active markets (Level 1) | Corporate debt securities
Assets
Debt securities	0	0
Quoted prices in active markets (Level 1) | U.S. government and government agency
Assets
Debt securities	476.9	360.9
Quoted prices in active markets (Level 1) | Non-U.S. government and government agency
Assets
Debt securities	20.9	17.8
Quoted prices in active markets (Level 1) | U.S. states, municipalities and political subdivision
Assets
Debt securities		0
Quoted prices in active markets (Level 1) | Preferred stocks
Assets
Debt securities	0	0
Quoted prices in active markets (Level 1) | Fixed income mutual funds
Assets
Equity securities	2.5	2.1
Quoted prices in active markets (Level 1) | Common stocks
Assets
Equity securities	0.2	0.7
Significant other observable inputs (Level 2)
Assets
Debt securities	2,121.7	1,704.1
Equity securities	0	0
Short-term investments	2.6	2.6
Other long-term investments	0	0
Derivative assets	0	0
Total assets	2,124.3	1,706.7
Liabilities
Securities sold, not yet purchased	0
Liability-classified capital instruments	33.9	30.6
Derivative liabilities	0	0
Total liabilities	33.9	30.6
Significant other observable inputs (Level 2) | Asset-backed securities
Assets
Debt securities	718.1	513.1
Significant other observable inputs (Level 2) | Residential mortgage-backed securities
Assets
Debt securities	393	301.9
Significant other observable inputs (Level 2) | Commercial mortgage-backed securities
Assets
Debt securities	132.7	147.3
Significant other observable inputs (Level 2) | Corporate debt securities
Assets
Debt securities	752.3	602.6
Significant other observable inputs (Level 2) | U.S. government and government agency
Assets
Debt securities	12.2	24.5
Significant other observable inputs (Level 2) | Non-U.S. government and government agency
Assets
Debt securities	113.4	114.5
Significant other observable inputs (Level 2) | U.S. states, municipalities and political subdivision
Assets
Debt securities		0.2
Significant other observable inputs (Level 2) | Preferred stocks
Assets
Debt securities	0	0
Significant other observable inputs (Level 2) | Fixed income mutual funds
Assets
Equity securities	0	0
Significant other observable inputs (Level 2) | Common stocks
Assets
Equity securities	0	0
Significant unobservable inputs (Level 3)
Assets
Debt securities	3.3	2.8
Equity securities	0	0
Short-term investments	0	0
Other long-term investments	315.2	336.9
Derivative assets	(0.6)	0.4
Total assets	317.9	340.1
Liabilities
Securities sold, not yet purchased	0
Liability-classified capital instruments	42.1	57.2
Derivative liabilities	2.9	3.2
Total liabilities	45	60.4
Significant unobservable inputs (Level 3) | Asset-backed securities
Assets
Debt securities	0	0
Significant unobservable inputs (Level 3) | Residential mortgage-backed securities
Assets
Debt securities	0	0
Significant unobservable inputs (Level 3) | Commercial mortgage-backed securities
Assets
Debt securities	0	0
Significant unobservable inputs (Level 3) | Corporate debt securities
Assets
Debt securities	0	0
Significant unobservable inputs (Level 3) | U.S. government and government agency
Assets
Debt securities	0	0
Significant unobservable inputs (Level 3) | Non-U.S. government and government agency
Assets
Debt securities	0	0
Significant unobservable inputs (Level 3) | U.S. states, municipalities and political subdivision
Assets
Debt securities		0
Significant unobservable inputs (Level 3) | Preferred stocks
Assets
Debt securities	3.3	2.8
Significant unobservable inputs (Level 3) | Fixed income mutual funds
Assets
Equity securities	0	0
Significant unobservable inputs (Level 3) | Common stocks
Assets
Equity securities	0	0
Valued at NAV
Assets
Investments in funds valued at NAV	$ 801.6	$ 1,028.8

Fair value measurements - Narra

Fair value measurements - Narrative (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Reclassification of assets, Level 2 to Level 3	$ 0	$ 0
Reclassification of liabilities, Level 2 to Level 3	0	0
Reclassification of assets, Level 3 to Level 2	0	0
Reclassification of liabilities, Level 3 to Level 2	$ 0	$ 0

Fair value measurements - Recon

Fair value measurements - Reconciliation of investments measured at fair value using Level 3 inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 340.1	$ 5.2
Transfers in to (out of) Level 3	(40.6)	0
Purchases	34.2	13.6
Assets Acquired	0	294.9
Sales	(11.7)	(1)
Realized and Unrealized Gains (Losses)	(5.8)	37.3
Ending balance	316.2	350
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(60.4)	(1)
Transfers in to (out of) Level 3	0	0
Purchases	(1.9)	(135)
Assets Acquired	0	(2.7)
Sales	0	0
Realized and Unrealized Gains (Losses)	15.4	(1.3)
Ending balance	(46.9)	(140)
Liability-classified capital instruments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(57.2)	0
Transfers in to (out of) Level 3	0	0
Purchases	0	(135)
Assets Acquired	0	0
Sales	0	0
Realized and Unrealized Gains (Losses)	15.1	0
Ending balance	(42.1)	(135)
Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		0
Transfers in to (out of) Level 3		0
Purchases		0
Assets Acquired		(0.7)
Sales		0
Realized and Unrealized Gains (Losses)		(0.8)
Ending balance		(1.5)
Derivative liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(3.2)	(1)
Transfers in to (out of) Level 3	0	0
Purchases	(1.9)	0
Assets Acquired	0	(2)
Sales	0	0
Realized and Unrealized Gains (Losses)	0.3	(0.5)
Ending balance	(4.8)	(3.5)
Preferred stocks
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2.8	0
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Assets Acquired	0	2.8
Sales	0	0
Realized and Unrealized Gains (Losses)	0.5	0
Ending balance	3.3	2.8
Other long-term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	336.9	4
Transfers in to (out of) Level 3	(40.6)	0
Purchases	34.2	13.6
Assets Acquired	0	259
Sales	(10)	0
Realized and Unrealized Gains (Losses)	(5.2)	0
Ending balance	315.3	276.6
Derivative assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0.4	1.2
Transfers in to (out of) Level 3	0	0
Purchases	0	0
Assets Acquired	0	0.3
Sales	(1.7)	(1)
Realized and Unrealized Gains (Losses)	(1.1)	35.6
Ending balance	$ (2.4)	36.1
Loan participations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		0
Transfers in to (out of) Level 3		0
Purchases		0
Assets Acquired		32.8
Sales		0
Realized and Unrealized Gains (Losses)		1.7
Ending balance		$ 34.5

Fair value measurements - Finan

Fair value measurements - Financial instruments not measured at fair value (Details) - Level 2 - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value | Series B preference shares
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Series B preference shares	$ 210.2	$ 220.9
Fair Value | Subordinated Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	293.6	302.3
Fair Value | Senior Notes | 2016 SIG Senior Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	391.4	412.8
Fair Value | Senior Notes | 2015 TPRUSA Senior Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	114.9	120.5
Carrying Value | Series B preference shares
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Series B preference shares	200	200
Carrying Value | Subordinated Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	288.3	296.3
Carrying Value | Senior Notes | 2016 SIG Senior Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	405.7	406
Carrying Value | Senior Notes | 2015 TPRUSA Senior Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	$ 114.5	$ 114.4

Investments - Summary of debt s

Investments - Summary of debt securities (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	$ 2,696,500,000	$ 2,099,300,000
Gross unrealized gains	2,700,000	2,700,000
Gross unrealized losses	(77,000,000)	(15,600,000)
Net foreign currency gains (losses)	600,000	(800,000)
Fair value	2,622,800,000	2,085,600,000
Securities sold, not yet purchased, at fair value	64,000,000	0
Asset-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	723,600,000	512,600,000
Gross unrealized gains	700,000	900,000
Gross unrealized losses	(6,200,000)	(400,000)
Net foreign currency gains (losses)	0	0
Fair value	718,100,000	513,100,000
Residential mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	413,900,000	306,500,000
Gross unrealized gains	0	0
Gross unrealized losses	(20,900,000)	(4,600,000)
Net foreign currency gains (losses)	0	0
Fair value	393,000,000	301,900,000
Commercial mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	139,600,000	148,400,000
Gross unrealized gains	200,000	600,000
Gross unrealized losses	(7,100,000)	(1,700,000)
Net foreign currency gains (losses)	0	0
Fair value	132,700,000	147,300,000
Corporate debt securities
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	774,700,000	605,500,000
Gross unrealized gains	1,100,000	600,000
Gross unrealized losses	(24,100,000)	(3,500,000)
Net foreign currency gains (losses)	600,000	0
Fair value	752,300,000	602,600,000
U.S. government and government agency
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	503,200,000	388,100,000
Gross unrealized gains	0	100,000
Gross unrealized losses	(14,100,000)	(2,800,000)
Net foreign currency gains (losses)	0	0
Fair value	489,100,000	385,400,000
Non-U.S. government and government agency
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	138,900,000	135,400,000
Gross unrealized gains	0	300,000
Gross unrealized losses	(4,600,000)	(2,600,000)
Net foreign currency gains (losses)	0	(800,000)
Fair value	134,300,000	132,300,000
U.S. states, municipalities and political subdivision
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost		200,000
Gross unrealized gains		0
Gross unrealized losses		0
Net foreign currency gains (losses)		0
Fair value		200,000
Preferred stocks
Debt and Equity Securities, FV-NI [Line Items]
Cost or amortized cost	2,600,000	2,600,000
Gross unrealized gains	700,000	200,000
Gross unrealized losses	0	0
Net foreign currency gains (losses)	0	0
Fair value	3,300,000	2,800,000
U.S. Treasuries
Debt and Equity Securities, FV-NI [Line Items]
Securities sold, not yet purchased, at fair value	$ 64,000,000	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	Feb. 23, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Weighted average duration of debt securities		1 year 9 months 18 days	1 year 7 months 6 days
Weighted average duration of debt securities, excluding short-term investments		2 years 4 months 24 days	2 years 3 months 18 days
Debt securities		$ 2,622,800,000	$ 2,085,600,000
Hedge funds and private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Distribution receivable		40,700,000
Investments in related investment party funds, unfunded commitments		21,200,000	26,700,000
TPOC Portfolio
Debt and Equity Securities, FV-NI [Line Items]
Eligible withdrawal period following a cause event	120 days
Third Point Enhanced LP
Debt and Equity Securities, FV-NI [Line Items]
Investments in related investment party funds, unfunded commitments		0
Third Point Venture Offshore Fund I LP
Debt and Equity Securities, FV-NI [Line Items]
Investments in related investment party funds, unfunded commitments		$ 12,700,000
Percentage of net asset value held		16.80%
Third Point LLC, 2022 IMA | Incentive fees | Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Fee percentage	15.00%
Third Point LLC, 2022 IMA | Management fees | Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Fee percentage	0.50%
Third Point LLC, 2022 IMA | Advisory fees | Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Annual fee	$ 1,500,000
AAA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		$ 762,900,000	696,400,000
AA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		1,073,800,000	884,100,000
A
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		340,400,000	278,500,000
Sub-prime
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		67,300,000	51,800,000
Sub-prime | AAA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		39,900,000	35,100,000
Sub-prime | AA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		26,600,000	16,100,000
Sub-prime | A
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		400,000	$ 600,000
Sub-prime | Unrated
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		$ 400,000

Investments - Debt securities b

Investments - Debt securities by contractual maturity (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Cost or amortized cost
Due in one year or less	$ 174.2	$ 145.6
Due after one year through five years	1,012.1	870.4
Due after five years through ten years	153.7	69.6
Due after ten years	76.9	43.6
Cost or amortized cost	2,696.5	2,099.3
Fair value
Due in one year or less	172.7	145.1
Due after one year through five years	980.4	862.4
Due after five years through ten years	146.5	68.6
Due after ten years	76.1	44.4
Fair value	2,622.8	2,085.6
Mortgage-backed and asset-backed securities
Cost or amortized cost
Debt securities without single maturity date	1,277	967.5
Fair value
Debt securities without single maturity date	1,243.8	962.3
Preferred stocks
Cost or amortized cost
Debt securities without single maturity date	2.6	2.6
Cost or amortized cost	2.6	2.6
Fair value
Debt securities without single maturity date	3.3	2.8
Fair value	$ 3.3	$ 2.8

Investments - Ratings and fair

Investments - Ratings and fair value of debt securities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	$ 2,622.8	$ 2,085.6
AAA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	762.9	696.4
AA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	1,073.8	884.1
A
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	340.4	278.5
BBB
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	297.9	153.1
Other
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	$ 147.8	$ 73.5

Investments - Summary of equity

Investments - Summary of equity securities and other long-term investments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Equity securities, Cost or amortized cost	$ 1.8	$ 4.5
Equity securities, Gross unrealized gains	0.9	0.1
Equity securities, Gross unrealized losses	0	(2)
Equity securities, Net foreign currency gains	0	0.2
Equity securities, Fair value	2.7	2.8
Other long-term investments, Cost or amortized cost	458.2	443
Other long-term investments, Gross unrealized gains	26.7	28.9
Other long-term investments, Gross unrealized losses	(48.1)	(16.8)
Other long-term investments, net foreign currency gains	1.4	1
Other long-term investments, Fair value	$ 438.2	$ 456.1

Investments - Equity securities

Investments - Equity securities and other-long term investments at fair value (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 2.7	$ 2.8
Other long-term investments	438.2	456.1
Valued at Level 3
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	0	0
Other long-term investments	315.2	336.9
Fixed income mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	2.5	2.1
Fixed income mutual funds | Valued at Level 3
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	0	0
Common stocks
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	0.2	0.7
Common stocks | Valued at Level 3
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	0	0
Hedge funds and private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	152.4	195.7
Other long-term investments, unfunded commitments	21.2	26.7
Hedge funds and private equity funds | Valued at NAV
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	118.4	115.2
Hedge funds and private equity funds | Valued at Level 3
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	34	80.5
Strategic investments and Limited liability companies and private equity securities
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, unfunded commitments	10.4	13.8
Strategic Investments
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	245.8	215.3
Limited liability companies and private equity securities
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	$ 40	$ 45.1

Investments - Investments in he

Investments - Investments in hedge funds and private equity interests by investment objective and sector (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	$ 438.2	$ 456.1
Hedge funds and private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	152.4	195.7
Other long-term investments, unfunded commitments	21.2	26.7
Total hedge funds
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	54.6	70.3
Other long-term investments, unfunded commitments	0	0
Long/short multi-sector
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	15.3	19.8
Other long-term investments, unfunded commitments	0	0
Distressed mortgage credit
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	12.8	24.6
Other long-term investments, unfunded commitments	0	0
Private credit
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	25.1	24.2
Other long-term investments, unfunded commitments	0	0
Other
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	1.4	1.7
Other long-term investments, unfunded commitments	0	0
Total private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	97.8	125.4
Other long-term investments, unfunded commitments	21.2	26.7
Energy infrastructure & services
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	55.2	48.4
Other long-term investments, unfunded commitments	15.4	19
Multi-sector
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	8.4	10.1
Other long-term investments, unfunded commitments	5.1	5.1
Healthcare
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	16	31
Other long-term investments, unfunded commitments	0.3	2.2
Life settlement
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	14.8	12.9
Other long-term investments, unfunded commitments	0	0
Manufacturing/Industrial
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0	19.9
Other long-term investments, unfunded commitments	0	0
Private equity secondaries
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0.6	0.5
Other long-term investments, unfunded commitments	0.4	0.4
Other
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	2.8	2.6
Other long-term investments, unfunded commitments	$ 0	$ 0

Investments - Hedge funds with

Investments - Hedge funds with redemption restrictions and advance notice period requirements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	$ 438.2	$ 456.1
Hedge funds
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	54.6	$ 70.3
Hedge funds | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0.1
Hedge funds | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	15.9
Hedge funds | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	13.5
Hedge funds | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	25.1
Hedge funds | Quarterly
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	28.3
Hedge funds | Quarterly | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Quarterly | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0.1
Hedge funds | Quarterly | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	15.3
Hedge funds | Quarterly | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	12.9
Hedge funds | Quarterly | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Semi-annual
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0.6
Hedge funds | Semi-annual | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Semi-annual | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Semi-annual | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0.6
Hedge funds | Semi-annual | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Semi-annual | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Annual
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	25.7
Hedge funds | Annual | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Annual | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Annual | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0
Hedge funds | Annual | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	0.6
Hedge funds | Annual | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	$ 25.1

Investments - Private equity fu

Investments - Private equity funds subject to lock-up or commitment periods (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	$ 438.2	$ 456.1
Private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	97.8	$ 125.4
Private equity funds | 1 - 3 years
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	53
Private equity funds | 3 – 5 years
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	27.9
Private equity funds | 5 – 10 years
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments, Fair value	$ 16.9

Investments - Investment in rel

Investments - Investment in related party investment funds (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, Cost	$ 341.9	$ 441.9
Investment in related party investment funds, Fair value	678.6	909.6
Third Point Enhanced LP
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, Cost	316	416
Investment in related party investment funds, Fair value	649.9	878.2
Third Point Venture Offshore Fund I LP
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, Cost	25.9	25.9
Investment in related party investment funds, Fair value	$ 28.7	$ 31.4

Total realized and unrealized_3

Total realized and unrealized investment gains (losses) and net investment income (loss) - Summary of total realized and unrealized investment gains (losses) and net investment income (loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Investment Income [Line Items]
Other investment expenses	$ (4.2)	$ (1)
Total realized and unrealized investment gains (losses) and net investment income (loss)	(205.1)	186.5
Debt securities
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	(59.3)	(7.8)
Short-term investments
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	(1.7)	0
Equity securities
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	(0.1)	0.3
Other long-term investments
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	(1)	49.2
Related party investment funds
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	(131)	153.2
Before other investment expenses and investment income (loss) on cash and cash equivalents
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	(193.1)	194.9
Cash and cash equivalents
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income (loss) before investment expenses	$ (7.8)	$ (7.4)

Total realized and unrealized_4

Total realized and unrealized investment gains (losses) and net investment income (loss) - Summary of net realized and unrealized gains (losses) on investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 11.2	$ 19.3
Gross realized losses	(13.8)	(0.4)
Net realized (losses) gains on investments	(2.6)	18.9
Net unrealized gains (losses) on investments	(79.3)	12.6
Net realized and unrealized gains (losses) on investments	(81.9)	31.5
Realized and unrealized gains from related party investments	$ 1.6	$ 44.9

Total realized and unrealized_5

Total realized and unrealized investment gains (losses) and net investment income (loss) - Summary of net realized investment gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Debt securities	$ (4.2)	$ 6.3
Short-term investments	(0.2)	0
Equity securities	(2.3)	0.4
Other long-term investments	0.3	9.9
Net investment income on cash and cash equivalents	3.8	2.3
Net realized (losses) gains on investments	(2.6)	18.9
Realized gains (losses) due to foreign currency	$ 2.8	$ 2.1

Total realized and unrealized_6

Total realized and unrealized investment gains (losses) and net investment income (loss) - Summary of net unrealized investment gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Debt securities	$ (64.1)	$ (16.9)
Short-term investments	(2)	0
Equity securities	2.1	(0.1)
Other long-term investments	(3.2)	39.3
Net investment loss on cash and cash equivalents	(12.1)	(9.7)
Net unrealized investment gains (losses)	(79.3)	12.6
Debt securities unrealized losses, excluding foreign currency	(60.1)
Unrealized gains (losses) due to foreign currency	$ (9.4)	$ (16.3)

Total realized and unrealized_7

Total realized and unrealized investment gains (losses) and net investment income (loss) - Summary of gains (losses) attributable to unrealized investment gains (losses) on level 3 investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Investment Income [Line Items]
Debt securities	$ (64.1)	$ (16.9)
Other long-term investments	(3.2)	39.3
Net unrealized investment gains (losses)	(79.3)	12.6
Level 3
Net Investment Income [Line Items]
Debt securities	0.5	0
Other long-term investments	(3.9)	35.6
Net unrealized investment gains (losses)	$ (3.4)	$ 35.6

Investments in unconsolidated_3

Investments in unconsolidated entities - Components of other long-term investments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	$ 438.2	$ 456.1
Equity method eligible unconsolidated entities, using the fair value option
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	216.8	225.3
Equity Method Investments
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	26	26.7
Other unconsolidated investments, at fair value
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	157.8	198
Other Unconsolidated Investments, at cost
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	$ 37.6	$ 6

Investments in unconsolidated_4

Investments in unconsolidated entities - Ownership interests in equity method eligible unconsolidated entities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
BE Reinsurance Limited
Schedule of Equity Method Investments [Line Items]
Fair value	$ 14.8	$ 15.2
Ownership interest	24.90%	24.90%
BioVentures Investors (Offshore) IV LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 16	$ 16.6
Ownership interest	73.00%	73.00%
Diamond LS I LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 8.8	$ 7.1
Ownership interest	15.30%	15.30%
Gateway Fund LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 4.6	$ 4
Ownership interest	18.10%	18.10%
Monarch Alternative Capital, LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 6	$ 5.7
Ownership interest	12.80%	12.80%
New Energy Capital Infrastructure Credit Fund LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 22.4	$ 20.1
Ownership interest	18.30%	18.30%
New Energy Capital Infrastructure Offshore Credit Fund LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 14.9	$ 13.4
Ownership interest	12.20%	12.20%
Great Bay LLC
Schedule of Equity Method Investments [Line Items]
Fair value	$ 1	$ 1
Ownership interest	11.10%	11.10%
Tuckerman Capital V LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 0	$ 11.3
Ownership interest	0.00%	42.10%
Tuckerman Capital V Co-Investment I LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 0	$ 8.6
Ownership interest	0.00%	47.30%

Derivatives - Narrative (Detail

Derivatives - Narrative (Details)	3 Months Ended
	Mar. 31, 2022financial_institution
Interest rate cap
Derivative [Line Items]
Number of financial institutions	2

Derivatives - Classification an

Derivatives - Classification and fair value of derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative liabilities at fair value	$ 2.9	$ 3.2
Derivatives not designated as hedging instruments | Foreign currency swaps
Derivative [Line Items]
Notional Value	0	40
Derivatives not designated as hedging instruments | Foreign currency swaps | Other assets
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivatives not designated as hedging instruments | Foreign currency swaps | Accounts payable, accrued expenses and other liabilities
Derivative [Line Items]
Derivative liabilities at fair value	0	1.7
Derivatives not designated as hedging instruments | Foreign currency forwards
Derivative [Line Items]
Notional Value	84.4	83.6
Derivatives not designated as hedging instruments | Foreign currency forwards | Other assets
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivatives not designated as hedging instruments | Foreign currency forwards | Accounts payable, accrued expenses and other liabilities
Derivative [Line Items]
Derivative liabilities at fair value	2.3	1.3
Derivatives not designated as hedging instruments | Foreign currency futures contracts
Derivative [Line Items]
Notional Value	286.9	133.9
Derivatives not designated as hedging instruments | Foreign currency futures contracts | Other assets
Derivative [Line Items]
Derivative assets at fair value	0	0.2
Derivatives not designated as hedging instruments | Foreign currency futures contracts | Accounts payable, accrued expenses and other liabilities
Derivative [Line Items]
Derivative liabilities at fair value	0	0
Derivatives not designated as hedging instruments | Weather derivatives
Derivative [Line Items]
Notional Value	22.5	6.2
Derivatives not designated as hedging instruments | Weather derivatives | Other assets
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivatives not designated as hedging instruments | Weather derivatives | Accounts payable, accrued expenses and other liabilities
Derivative [Line Items]
Derivative liabilities at fair value	2.1	0.8
Derivatives not designated as hedging instruments | Equity warrants
Derivative [Line Items]
Notional Value	0	0.1
Derivatives not designated as hedging instruments | Equity warrants | Other assets
Derivative [Line Items]
Derivative assets at fair value	0	0.1
Derivatives not designated as hedging instruments | Equity warrants | Accounts payable, accrued expenses and other liabilities
Derivative [Line Items]
Derivative liabilities at fair value	0	0
Derivatives not designated as hedging instruments | Interest rate cap
Derivative [Line Items]
Notional Value	75	250
Derivatives not designated as hedging instruments | Interest rate cap | Other assets
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivatives not designated as hedging instruments | Interest rate cap | Accounts payable, accrued expenses and other liabilities
Derivative [Line Items]
Derivative liabilities at fair value	$ 0	$ 0

Derivatives - Classification _2

Derivatives - Classification and net impact on earnings of derivatives (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Foreign currency swaps | Foreign exchange gains
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	$ 0	$ (0.4)
Foreign currency forwards | Foreign exchange gains
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	(1)	0
Foreign currency futures contracts | Foreign exchange gains
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	(5.9)	(0.1)
Weather derivatives | Other revenues
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	(0.5)	(3.7)
Equity put options | Net realized and unrealized investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	0	(1.6)
Equity warrants | Net realized and unrealized investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	$ (0.1)	$ 0

Derivatives - Underwriting-rela

Derivatives - Underwriting-related derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative liabilities, Fair value	$ 2.9	$ 3.2
Reinsurance contracts accounted for as derivatives | British Pound
Derivative [Line Items]
Derivative assets, Fair value	1.5	1.2
Derivative assets, Notional Amounts	49.6	49.3
Derivative liabilities, Fair value	0.6	0.1
Derivative liabilities, Notional Amounts	$ 59.8	$ 37.4

Variable interest entities - Na

Variable interest entities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Assets	$ 10,916.3	$ 10,618.3
Liabilities	8,628.8	8,115
Alstead Re
Variable Interest Entity [Line Items]
Assets	13.2	9.8
Liabilities	8.3	5.5
Arcadian
Variable Interest Entity [Line Items]
Assets	29.2	29
Liabilities	$ 3.3	7
Ownership percentage	49.00%
Maximum financial exposure	$ 18
Joyn
Variable Interest Entity [Line Items]
Assets	5.6	7.8
Liabilities	$ 4.5	$ 4.1
Ownership percentage	50.00%
Maximum financial exposure	$ 16.5
Preferred share ownership (in shares)	1,175,000
Variable interest entity, not primary Beneficiary | TP Enhanced Fund
Variable Interest Entity [Line Items]
Ownership percentage	89.50%
Variable interest entity, primary beneficiary | TP Enhanced Fund | TP GP
Variable Interest Entity [Line Items]
Ownership percentage	10.50%

Variable interest entities - Re

Variable interest entities - Reconciliation of noncontrolling interests (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period	$ (0.4)	$ 1.4
Sirius Group acquisition	0	0.3
Net loss attributable to noncontrolling interests	(0.3)	0
Contributions	0	0.1
Balance, end of period	$ (0.7)	$ 1.8

Variable interest entities - To

Variable interest entities - Total assets and maximum exposure to loss for unconsolidated variable interest entities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Maximum Exposure to Loss
On-Balance Sheet	$ 160.3	$ 177.5
Off-Balance Sheet	2	2.1
Total	162.3	179.6
Other long-term investments
Maximum Exposure to Loss
On-Balance Sheet	160.3	177.5
Off-Balance Sheet	2	2.1
Total	162.3	179.6
Variable interest entity, not primary Beneficiary
Total VIE Assets
Total VIE Assets	276.5	326.2
Variable interest entity, not primary Beneficiary | Other long-term investments
Total VIE Assets
Total VIE Assets	$ 276.5	$ 326.2

Variable interest entities - TP

Variable interest entities - TP Enhanced Fund summarized financial information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Investment income (loss)
Net realized gain from securities, derivative contracts and foreign currency translations	$ (2,600,000)	$ 18,900,000
Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations	(79,300,000)	12,600,000
Net income from currencies	19,400,000	12,400,000
Other income	7,800,000	1,800,000
Total revenues	361,400,000	488,600,000
Expenses
Interest	9,300,000	4,900,000
Other expenses	77,400,000	78,900,000
Net income (loss)	(213,300,000)	169,900,000
Assets
Total investments in securities and affiliated funds	4,731,300,000		$ 4,529,900,000
Cash and cash equivalents	826,100,000		999,800,000
Due from brokers	70,100,000		15,900,000
Interest and dividends receivable	10,700,000		8,300,000
Other assets	102,600,000		126,800,000
Total assets	10,916,300,000		10,618,300,000
Liabilities
Accounts payable and accrued expenses	188,700,000		229,800,000
Securities sold, not yet purchased, at fair value	64,000,000		0
Due to brokers	32,100,000		6,500,000
Derivative liabilities at fair value	2,900,000		3,200,000
Amounts due to affiliates	1,200,000		0
Total liabilities	8,628,800,000		8,115,000,000
TP Enhanced Fund
Investment income (loss)
Net realized gain from securities, derivative contracts and foreign currency translations	79,900,000	148,400,000
Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations	(226,100,000)	71,500,000
Net income from currencies	100,000	800,000
Dividend and interest income	8,300,000	5,400,000
Other income	100,000	0
Total revenues	(137,700,000)	226,100,000
Expenses
Management fees	2,300,000	4,000,000
Interest	1,100,000	1,500,000
Dividends on securities sold, not yet purchased	800,000	1,500,000
Administrative and professional fees	700,000	700,000
Other expenses	500,000	1,300,000
Total expenses	5,400,000	9,000,000
Net income (loss)	(143,100,000)	$ 217,100,000
Assets
Total investments in securities and affiliated funds	830,700,000		1,623,500,000
Cash and cash equivalents	100,000		100,000
Due from brokers	547,600,000		524,000,000
Derivative assets at fair value	35,300,000		46,500,000
Interest and dividends receivable	1,800,000		3,100,000
Other assets	1,500,000		1,500,000
Total assets	1,417,000,000		2,198,700,000
Liabilities
Accounts payable and accrued expenses	1,100,000		1,100,000
Securities sold, not yet purchased, at fair value	352,800,000		290,400,000
Securities sold under agreement to repurchase	32,500,000		33,600,000
Due to brokers	289,700,000		493,600,000
Derivative liabilities at fair value	13,800,000		8,400,000
Interest and dividends payable	600,000		700,000
Management fee payable	100,000		200,000
Total liabilities	690,600,000		1,217,500,000
Total partners' capital	726,400,000		981,200,000
TP Enhanced Fund | TP GP
Liabilities
Amounts due to affiliates	0		139,500,000
TP Enhanced Fund | SiriusPoint
Liabilities
Amounts due to affiliates	$ 0		$ 250,000,000

Loss and loss adjustment expe_3

Loss and loss adjustment expense reserves - Activity in the loss and loss adjustment expense reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves for loss and loss adjustment expenses, beginning of period	$ 4,841.4	$ 1,310.1
Less: loss and loss adjustment expenses recoverable, beginning of period	(1,215.3)	(14.4)
Less: deferred charges on retroactive reinsurance contracts	(1.4)	(6)
Net reserves for loss and loss adjustment expenses, beginning of period	3,624.7	1,289.7
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	345.6	146.5
Prior years	(5.5)	0.4
Total incurred loss and loss adjustment expenses	340.1	146.9
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(38.3)	(14.7)
Prior years	(254.1)	(117.2)
Total net paid losses	(292.4)	(131.9)
Foreign currency translation	(16.3)	(10.6)
Amounts acquired as a result of Sirius Group acquisition	0	2,467.8
Net reserves for loss and loss adjustment expenses, end of period	3,656.1	3,761.9
Plus: loss and loss adjustment expenses recoverable, end of period	1,278.6	492.6
Plus: deferred charges on retroactive reinsurance contracts	1.3	4.8
Gross reserves for loss and loss adjustment expenses, end of period	$ 4,936	$ 4,259.3

Loss and loss adjustment expe_4

Loss and loss adjustment expense reserves - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Insurance [Abstract]
(Favorable) unfavorable change in prior loss year reserve development	$ (5.5)	$ 0.4
Favorable change in prior loss year reserve development due to favorable development on COVID-19 reserves	$ 23.5

Allowance for expected credit_3

Allowance for expected credit losses - Summary of allowance for expected credit losses (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Insurance and reinsurance balances receivable, net	$ 1,936.8	$ 1,708.2
Loss and loss adjustment expenses recoverable, net	1,278.6	1,215.3	$ 492.6	$ 14.4
Other assets	45.3	14.5
Total assets in scope	$ 3,260.7	$ 2,938

Allowance for expected credit_4

Allowance for expected credit losses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for expected credit losses	$ 34.1		$ 21.6
Current expected credit (gains) losses	$ 12.5	$ 17.4
Assets within scope of credit losses | Credit concentration risk | AM Best or S&P
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	60.00%
Assets within scope of credit losses | Credit concentration risk | AM Best or S&P | AM Best or S&P, rated A- or better
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	81.00%

Debt and letter of credit fac_3

Debt and letter of credit facilities - Summary of debt obligations (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 808.4	$ 816.7
Subordinated Notes
Debt Instrument [Line Items]
Debt, at face value	294.8	303.1
Unamortized discount	(6.5)	(6.8)
Total debt	$ 288.3	$ 296.3
Effective rate	4.00%	4.10%
Senior Notes | 2016 SIG Senior Notes
Debt Instrument [Line Items]
Debt, at face value	$ 400	$ 400
Unamortized premium	5.7	6
Total debt	$ 405.7	$ 406
Effective rate	4.50%	4.50%
Senior Notes | 2015 TPRUSA Senior Notes
Debt Instrument [Line Items]
Debt, at face value	$ 115	$ 115
Unamortized issuance costs	(0.6)	(0.6)
Total debt	$ 114.4	$ 114.4
Effective rate	7.00%	7.00%

Debt and letter of credit fac_4

Debt and letter of credit facilities - Summary of letter of credit facilities (Details) - Standby letters of credit	Mar. 31, 2022USD ($)
Line of Credit Facility [Line Items]
Issued	$ 1,218,000,000
Cash and Cash Equivalents
Line of Credit Facility [Line Items]
Collateral	580,900,000
Debt securities
Line of Credit Facility [Line Items]
Collateral	807,100,000
Committed - Secured letters of credit facilities
Line of Credit Facility [Line Items]
Committed Capacity	330,000,000
Issued	275,000,000
Committed - Secured letters of credit facilities | Cash and Cash Equivalents
Line of Credit Facility [Line Items]
Collateral	41,900,000
Committed - Secured letters of credit facilities | Debt securities
Line of Credit Facility [Line Items]
Collateral	162,100,000
Uncommitted - Secured letters of credit facilities
Line of Credit Facility [Line Items]
Issued	943,000,000
Uncommitted - Secured letters of credit facilities | Cash and Cash Equivalents
Line of Credit Facility [Line Items]
Collateral	539,000,000
Uncommitted - Secured letters of credit facilities | Debt securities
Line of Credit Facility [Line Items]
Collateral	$ 645,000,000

Debt and letter of credit fac_5

Debt and letter of credit facilities - Narrative (Details) - Revolving Credit Facility - USD ($)	Feb. 26, 2021	Mar. 31, 2022
Debt Instrument [Line Items]
Contractual term	3 years
Maximum borrowing capacity	$ 300,000,000
Extension term	12 months
Outstanding borrowings		$ 0

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 9.7	$ 9.8
Pre-tax income (loss)	$ (203.6)	$ 179.7
Effective tax rate	(4.80%)
Unrecognized Tax Benefits	$ 2.5		$ 10.7
Unrecognized tax benefits that would impact the effective tax rate	$ 1.7

Shareholders' equity - Common s

Shareholders' equity - Common shares issued and outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Movement In Common Stock Outstanding [Roll Forward]
Common shares issued, beginning of period	161,929,777
Common shares outstanding, beginning of period	161,929,777
Common shares issued, end of period	161,941,552
Common shares outstanding, end of period	161,941,552
Common stocks
Movement In Common Stock Outstanding [Roll Forward]
Common shares issued, beginning of period	161,929,777	95,582,733
Common shares outstanding, beginning of period	161,929,777	95,582,733
Issuance of common shares for Sirius Group acquisition	0	58,331,196
Issuance of common shares to related party	0	6,093,842
Shares repurchased	(645,047)	0
Common shares issued, end of period	161,941,552	161,891,354
Common shares outstanding, end of period	161,941,552	161,891,354
Restricted share awards | Common stocks
Movement In Common Stock Outstanding [Roll Forward]
Shares granted, net of forfeitures and shares withheld	656,822	2,081,001
Performance shares | Common stocks
Movement In Common Stock Outstanding [Roll Forward]
Shares granted, net of forfeitures and shares withheld	0	(197,418)

Shareholders' equity - Narrativ

Shareholders' equity - Narrative (Details)	2 Months Ended	3 Months Ended
	Aug. 12, 2021shares	Mar. 31, 2022USD ($)directorperiod$ / sharesshares	Mar. 31, 2021USD ($)shares	Dec. 31, 2021$ / sharesshares	Feb. 28, 2018USD ($)
Class of Stock [Line Items]
Common shares authorized (in shares) | shares		300,000,000
Common shares, par value (in dollars per share) | $ / shares		$ 0.10
Dividends paid to preference shareholders | $		$ 4,000,000	$ 0
Share repurchase program, authorized amount | $		200,000,000			$ 148,300,000
Common shares repurchased and retired | $		$ 4,700,000
Weighted average cost of common shares repurchased and retired (in dollars per share) | $ / shares		$ 7.26
Stock repurchase program, remaining authorized amount | $		$ 56,600,000
Common stocks
Class of Stock [Line Items]
Common shares repurchased and retired (in shares) | shares		645,047	0
Common shares repurchased and retired | $		$ 100,000	$ 0
Preference shares
Class of Stock [Line Items]
Preference shares, shares authorized (in shares) | shares		30,000,000
Preference shares, par value (in dollars per share) | $ / shares		$ 0.10
Series B preference shares
Class of Stock [Line Items]
Preference shares, shares authorized (in shares) | shares		8,000,000		8,000,000
Preference shares, par value (in dollars per share) | $ / shares		$ 0.10		$ 0.10
Preference shares, shares outstanding (in share) | shares		8,000,000
Dividend rate		8.00%
Voting rights triggering event, number of dividend periods not paid | period		6
Voting rights triggered, number of directors eligible to elect | director		2
Dividend rate reset period		5 years
Each five-year anniversary triggering event, redemption percentage		100.00%
Rating agency triggering event, redemption percentage		102.00%
Capital disqualification triggering event, redemption percentage		100.00%
Tax triggering event, redemption percentage		100.00%
Dividends paid to preference shareholders | $		$ 4,000,000	$ 0
Series B preference shares | Public offering
Class of Stock [Line Items]
Shares sold (in shares) | shares	8,000,000
Series B preference shares | 5-year U.S. treasury rate
Class of Stock [Line Items]
Dividend rate basis spread on variable rate		7.298%

Earnings (loss) per share ava_3

Earnings (loss) per share available to SiriusPoint common shareholders - Computation of basic and diluted earnings (loss) per share available to SiriusPoint common shareholders (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding (in shares)	159,867,593	116,760,760
Dilutive effect of warrants (in shares)	0	51,650
Diluted number of common shares outstanding (in shares)	159,867,593	118,146,341
Basic earnings (loss) per common share:
Net income (loss) available to SiriusPoint common shareholders	$ (217)	$ 168.4
Net income allocated to SiriusPoint participating common shareholders	0	(8.3)
Net income (loss) available to SiriusPoint common shareholders	$ (217)	$ 160.1
Basic earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (1.36)	$ 1.37
Diluted earnings (loss) per common share:
Net income (loss) available to SiriusPoint common shareholders	$ (217)	$ 168.4
Net income allocated to SiriusPoint participating common shareholders	0	(8.3)
Net income (loss) allocated to SiriusPoint common shareholders	$ (217)	$ 160.1
Diluted earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (1.36)	$ 1.35
Options
Weighted-average number of common shares outstanding:
Dilutive effect of share-based payment awards (in shares)	0	184,470
Restricted share units
Weighted-average number of common shares outstanding:
Dilutive effect of share-based payment awards (in shares)	0	1,149,461

Earnings (loss) per share ava_4

Earnings (loss) per share available to SiriusPoint common shareholders - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,469,887	4,120,926
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	31,123,755	31,123,755
Upside rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	10,000,000	10,000,000

Related party transactions - Na

Related party transactions - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 23, 2022	Dec. 31, 2021	Mar. 01, 2021	Feb. 26, 2021	Aug. 06, 2020	Jan. 01, 2019
Related Party Transaction [Line Items]
Receivables from affiliates	$ 50,300,000			$ 48,300,000
Payables to affiliates	1,200,000			$ 0
Affiliated entity
Related Party Transaction [Line Items]
Gross written premiums	$ 61,200,000	$ 20,200,000
Affiliated entity | Management fees | Third Point LLC, 2019 LPA
Related Party Transaction [Line Items]
Fee percentage								1.25%
Affiliated entity | Management fees | Third Point LLC, 2020 LPA
Related Party Transaction [Line Items]
Fee percentage							1.25%
Affiliated entity | Management fees | Third Point LLC, 2022 LPA
Related Party Transaction [Line Items]
Fee percentage			1.25%
Affiliated entity | Management fees | Third Point LLC, TPIPS IMA
Related Party Transaction [Line Items]
Fee percentage						0.06%
Affiliated entity | Management fees | Third Point LLC, 2022 IMA
Related Party Transaction [Line Items]
Fee percentage			0.50%
Affiliated entity | Advisory fees | Third Point LLC, 2022 IMA
Related Party Transaction [Line Items]
Annual fee			$ 1,500,000
Affiliated entity | Performance fees | TP GP
Related Party Transaction [Line Items]
Fee percentage								20.00%
Affiliated entity | Performance fees | TP Venture GP
Related Party Transaction [Line Items]
Fee percentage					20.00%
Affiliated entity | Incentive fees | Third Point LLC, 2022 IMA
Related Party Transaction [Line Items]
Fee percentage			15.00%

Related party transactions - Su

Related party transactions - Summary of related party fees (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Total management, advisory and performance fees to related parties	$ 2.9	$ 42.2
Management and advisory fees
Related Party Transaction [Line Items]
Total management, advisory and performance fees to related parties	2.7	4.1
Performance fees
Related Party Transaction [Line Items]
Total management, advisory and performance fees to related parties	$ 0.2	$ 38.1

Commitments and contingencies -

Commitments and contingencies - Narrative (Details)	Mar. 07, 2022USD ($)	Jul. 02, 2021USD ($)	Sep. 16, 2020USD ($)	Mar. 31, 2022USD ($)contract	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Class of Warrant or Right [Line Items]
Operating lease expense				$ 2,900,000	$ 1,300,000
Operating lease right-of-use assets				$ 24,500,000		$ 27,400,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]				Other assets		Other assets
Operating lease liabilities				$ 30,000,000		$ 32,500,000
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]				Accounts payable, accrued expenses and other liabilities		Accounts payable, accrued expenses and other liabilities
Number of lease contracts not yet commenced | contract				1
Future minimum rental commitments for lease not yet commenced				$ 11,200,000
Player's Health
Class of Warrant or Right [Line Items]
Amount lent under note agreement	$ 8,000,000
Notes receivable, interest rate	6.00%
Affiliated entity
Class of Warrant or Right [Line Items]
Related party interest rate		8.00%	8.00%
Amount drawn				$ 0
Loans receivable		$ 11,500,000
Loan receivable, maximum increase		$ 5,000,000
Affiliated entity | Loan commitment
Class of Warrant or Right [Line Items]
Maximum commitment			$ 18,000,000

Commitments and contingencies_2

Commitments and contingencies - Lease balances (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease right-of-use assets	$ 24.5	$ 27.4
Operating lease liabilities	$ (30)	$ (32.5)
Weighted average lease term (years)	5 years	5 years
Weighted average discount rate	2.30%	2.40%

Commitments and contingencies_3

Commitments and contingencies - Future minimum rental commitments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2022	$ 7.8
2023	7.9
2024	4.6
2025	3.2
2026 and thereafter	8.1
Total future annual minimum rental payments	31.6
Less: present value discount	(1.6)
Total lease liability	$ 30	$ 32.5