SiriusPoint (SPNT) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		162,168,711
Entity Central Index Key	0001576018
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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	Sep. 30, 2022	Dec. 31, 2021
Assets
Debt securities, trading, at fair value (cost - $1,811.5; 2021 - $2,099.3)	$ 1,697.1	$ 2,085.6
Debt securities, available for sale, at fair value, net of allowance for credit losses of $0.0 (2021 - N/A) (cost - $1,371.8; 2021 - N/A)	1,324	0
Short-term investments, at fair value (cost - $2,009.9; 2021 - $1,076.0)	1,991.6	1,075.8
Investments in related party investment funds, at fair value	309	909.6
Other long-term investments, at fair value (cost - $407.8; 2021 - $443.0) (includes affiliated investments at fair value of $242.1 (2021 - $258.2))	414.9	456.1
Equity securities, trading, at fair value (cost - $1.7; 2021 - $4.5)	1.4	2.8
Total investments	5,738	4,529.9
Cash and cash equivalents	647.3	999.8
Restricted cash and cash equivalents	144.2	948.6
Redemption receivable from related party investment fund	0	250
Due from brokers	20.2	15.9
Interest and dividends receivable	17	8.3
Insurance and reinsurance balances receivable, net	1,952.7	1,708.2
Deferred acquisition costs and value of business acquired, net	278.6	218.8
Unearned premiums ceded	379.1	242.8
Loss and loss adjustment expenses recoverable, net	1,309.2	1,215.3
Deferred tax asset	197.6	182
Intangible assets	165.9	171.9
Assets held for sale	20.9	0
Other assets	127.4	126.8
Total assets	10,998.1	10,618.3
Liabilities
Loss and loss adjustment expense reserves	5,200.5	4,841.4
Unearned premium reserves	1,572.8	1,198.4
Reinsurance balances payable	793.9	688.3
Deposit liabilities	138.9	150.7
Securities sold, not yet purchased, at fair value	41.7	0
Securities sold under an agreement to repurchase	17.3	0
Due to brokers	16.6	6.5
Accounts payable, accrued expenses and other liabilities	245.8	229.8
Deferred tax liability	66.9	95.4
Liability-classified capital instruments	48.9	87.8
Debt	762	816.7
Total liabilities	8,905.3	8,115
Commitments and contingent liabilities
Shareholders’ equity
Common shares (issued and outstanding: 162,312,938; 2021 - 161,929,777)	16.2	16.2
Additional paid-in capital	1,633.2	1,622.7
Retained earnings	288.8	665
Accumulated other comprehensive loss, net of tax	(53.7)	(0.2)
Shareholders’ equity attributable to SiriusPoint shareholders	2,084.5	2,503.7
Noncontrolling interests	8.3	(0.4)
Total shareholders’ equity	2,092.8	2,503.3
Total liabilities, noncontrolling interests and shareholders’ equity	10,998.1	10,618.3
Series B preference shares
Shareholders’ equity
Series B preference shares (par value $0.10; authorized and issued: 8,000,000)	$ 200	$ 200

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt securities, trading, cost	$ 1,811.5	$ 2,099.3
Debt securities, available for sale, allowance for credit losses	0
Debt securities, available for sale, cost	1,371.8
Short-term investments, cost	2,009.9	1,076
Other long-term investments, cost	407.8	443
Related party investments at fair value	242.1	258.2
Equity securities, trading, cost	$ 1.7	$ 4.5
Common share, shares issued (in shares)	162,312,938	161,929,777
Common share, shares outstanding (in shares)	162,312,938	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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Net premiums earned	$ 612.6	$ 499.6	$ 1,710.7	$ 1,197.1
Net realized and unrealized investment gains (losses)	(56.1)	(11.7)	(236.4)	43.7
Net realized and unrealized investment gains (losses) from related party investment funds	(8.3)	202.4	(199.8)	401.2
Net investment income	36.2	9.1	61.4	18.8
Total realized and unrealized investment gains (losses) and net investment income	(28.2)	199.8	(374.8)	463.7
Other revenues	13.1	33.2	96.1	121.9
Total revenues	597.5	732.6	1,432	1,782.7
Expenses
Loss and loss adjustment expenses incurred, net	497.9	577.3	1,198.3	975.1
Acquisition costs, net	116.8	106.9	348.9	281.5
Other underwriting expenses	44.8	53.3	138.1	120.6
Net corporate and other expenses	70.8	59.9	220.2	194.5
Intangible asset amortization	2.1	2	6	4.1
Interest expense	9.4	9.7	28.1	24.4
Foreign exchange gains	(51.6)	(16.1)	(127.5)	(16.5)
Total expenses	690.2	793	1,812.1	1,583.7
Income (loss) before income tax (expense) benefit	(92.7)	(60.4)	(380.1)	199
Income tax (expense) benefit	(0.9)	13	17.1	(6.4)
Net income (loss)	(93.6)	(47.4)	(363)	192.6
Net (income) loss attributable to noncontrolling interests	(0.8)	3.4	(1.2)	1.8
Net income (loss) available to SiriusPoint	(94.4)	(44)	(364.2)	194.4
Dividends on Series B preference shares	(4)	(4)	(12)	(9.5)
Net income (loss) available to SiriusPoint common shareholders	(98.4)	(48)	(376.2)	184.9
Net income (loss) available to SiriusPoint common shareholders	$ (98.4)	$ (48)	$ (376.2)	$ 184.9
Earnings Per Share [Abstract]
Basic earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (0.61)	$ (0.30)	$ (2.35)	$ 1.18
Diluted earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (0.61)	$ (0.34)	$ (2.35)	$ 1.17
Weighted average number of common shares used in the determination of earnings (loss) per share
Basic (in shares)	160,321,270	159,225,772	160,150,911	145,095,270
Diluted (in shares)	160,321,270	160,240,888	160,150,911	147,597,964

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Comprehensive income (loss)
Net income (loss)	$ (93.6)	$ (47.4)	$ (363)	$ 192.6
Other comprehensive loss, net of tax
Change in foreign currency translation	(3.6)	(1.8)	(4)	(0.3)
Unrealized losses from debt securities held as available for sale investments	(39.7)	0	(49.5)	0
Total other comprehensive loss	(43.3)	(1.8)	(53.5)	(0.3)
Comprehensive income (loss)	(136.9)	(49.2)	(416.5)	192.3
Net (income) loss attributable to noncontrolling interests	(0.8)	3.4	(1.2)	1.8
Comprehensive income (loss) available to SiriusPoint	$ (137.7)	$ (45.8)	$ (417.7)	$ 194.1

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Parent	Preference shares Series B preference shares	Common shares	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss, net of tax	Net change in foreign currency translation adjustment	Unrealized losses from debt securities held as available for sale investments	Noncontrolling interests
Balance, beginning of period at Dec. 31, 2020			$ 0	$ 9.6	$ 933.9	$ 620.4	$ 0	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares, net			200
Issuance of common shares, net				0.2	2.7
Issuance of common shares for Sirius Group acquisition				5.8	589.7
Issuance of common shares to related party				0.6	48
Share compensation					42.5
Common shares repurchased and retired				0	0
Net income (loss)	$ 192.6					192.6
Net (income) loss attributable to noncontrolling interests	1.8					1.8
Dividends on preference shares						(9.5)
Net change in foreign currency translation adjustment	(0.3)							(0.3)
Unrealized losses from debt securities held as available for sale investments	0								0
Balance, end of period at Sep. 30, 2021	2,638	$ 2,638	200	16.2	1,616.8	805.3	(0.3)	(0.3)	0	$ 0
Balance, beginning of period at Jun. 30, 2021			200	16.2	1,609.1	853.3	1.5	1.5	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares, net			0
Issuance of common shares, net				0	(0.1)
Issuance of common shares for Sirius Group acquisition				0	0
Issuance of common shares to related party				0	0
Share compensation					7.8
Common shares repurchased and retired				0	0
Net income (loss)	(47.4)					(47.4)
Net (income) loss attributable to noncontrolling interests	3.4					3.4
Dividends on preference shares						(4)
Net change in foreign currency translation adjustment	(1.8)							(1.8)
Unrealized losses from debt securities held as available for sale investments	0								0
Balance, end of period at Sep. 30, 2021	2,638	2,638	200	16.2	1,616.8	805.3	(0.3)	(0.3)	0	0
Balance, beginning of period at Dec. 31, 2021	2,503.3		200	16.2	1,622.7	665	(0.2)	(0.2)	0
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					15.4
Common shares repurchased and retired	(5)			(0.1)	(4.9)
Net income (loss)	(363)					(363)
Net (income) loss attributable to noncontrolling interests	(1.2)					(1.2)
Dividends on preference shares						(12)
Net change in foreign currency translation adjustment	(4)							(4)
Unrealized losses from debt securities held as available for sale investments	(49.5)								(49.5)
Balance, end of period at Sep. 30, 2022	2,092.8	2,084.5	200	16.2	1,633.2	288.8	(53.7)	(4.2)	(49.5)	8.3
Balance, beginning of period at Jun. 30, 2022			200	16.2	1,630.3	387.2	(10.4)	(0.6)	(9.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preference shares, net			0
Issuance of common shares, net				0	0
Issuance of common shares for Sirius Group acquisition				0	0
Issuance of common shares to related party				0	0
Share compensation					2.9
Common shares repurchased and retired				0	0
Net income (loss)	(93.6)					(93.6)
Net (income) loss attributable to noncontrolling interests	(0.8)					(0.8)
Dividends on preference shares						(4)
Net change in foreign currency translation adjustment	(3.6)							(3.6)
Unrealized losses from debt securities held as available for sale investments	(39.7)								(39.7)
Balance, end of period at Sep. 30, 2022	$ 2,092.8	$ 2,084.5	$ 200	$ 16.2	$ 1,633.2	$ 288.8	$ (53.7)	$ (4.2)	$ (49.5)	$ 8.3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ (363)	$ 192.6
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share compensation	22.2	17
Net interest expense on deposit liabilities	0.4	3.9
Net realized and unrealized (gain) loss on investments and derivatives	205.3	(52.9)
Net realized and unrealized (gain) loss on investment in related party investment funds	199.8	(401.2)
Other revenues	(39)	(84.6)
Gain from sale of consolidated subsidiary	0	(5.8)
Amortization of premium and accretion of discount, net	(1.7)	9.4
Amortization of intangible assets	6	4.1
Depreciation and other amortization	4.1	4.5
Other items, net	(54)	(16.5)
Changes in assets and liabilities:
Insurance and reinsurance balances receivable, net	(242.4)	27.4
Deferred acquisition costs and value of business acquired, net	(59.8)	(3.7)
Unearned premiums ceded	(136.3)	(38.8)
Loss and loss adjustment expenses recoverable, net	(93.9)	(368.4)
Deferred tax asset/liability	(44.1)	(0.2)
Other assets	(4.7)	63.6
Interest and dividends receivable	(8.7)	0.3
Loss and loss adjustment expense reserves	359.1	626.1
Unearned premium reserves	374.4	30.6
Reinsurance balances payable	105.6	130.1
Accounts payable, accrued expenses and other liabilities	16	(110.9)
Net cash provided by operating activities	245.3	26.6
Investing activities
Proceeds from redemptions from related party investment funds	654.8	0
Contributions to related party investment funds	(4)	0
Purchases of investments	(4,648.5)	(2,282.9)
Proceeds from sales and maturities of investments	2,628	1,995
Change in due to/from brokers, net	5.8	45.5
Acquisition of Sirius Group, net (cash and restricted cash acquired of $740.3)	0	631.9
Proceeds from sale of consolidated subsidiary, net of cash sold	0	20.5
Net cash provided by (used in) investing activities	(1,363.9)	410
Financing activities
Proceeds from issuance of SiriusPoint common shares, net of costs	0	50.8
Taxes paid on withholding shares	(6.9)	(0.3)
Purchases of SiriusPoint common shares under share repurchase program	(5)	0
Proceeds from loans under an agreement to repurchase	17.5	0
Cash dividends paid to preference shareholders	(12)	(8.2)
Net payments on deposit liability contracts	(12.7)	(9.4)
Change in total noncontrolling interests, net	0.8	0.1
Net cash provided by (used in) financing activities	(18.3)	33
Net increase (decrease) in cash, cash equivalents and restricted cash	(1,136.9)	469.6
Change in cash of assets held for sale	(20)	0
Cash, cash equivalents and restricted cash at end of period	$ 791.5	$ 2,183.5

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2021 USD ($)
Statement of Cash Flows [Abstract]
Cash and restricted cash acquired	$ 740.3

Organization

Organization	9 Months Ended
	Sep. 30, 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 Form 10-Q 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 nine months ended September 30, 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	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant accounting policies	2. Significant accounting policies Other than described below, there have been no material changes to the Company’s significant accounting policies as described in its 2021 Form 10-K. Debt securities available for sale The Company has elected to classify debt securities, other than short-term investments, purchased on or after April 1, 2022 as available for sale (“AFS”). These securities are held at fair value, net of an allowance for credit losses. Any decline in fair value related to AFS debt securities that is believed to arise from factors other than credit is recorded as a separate component of accumulated other comprehensive income (loss) in the consolidated statement of shareholders’ equity. Recently issued accounting standards Issued but not yet effective as of September 30, 2022 In June 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). The amendment clarifies the guidance in Topic 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and requires specific disclosures related to such an equity security. This new pronouncement is not expected to have a material impact on the Company’s consolidated financial statements. 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 nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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 for the three and nine months ended September 30, 2021 . 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 nine months ended September 30, 2022, the Company did not declare 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 and nine months ended September 30, 2022, the Company recorded gains of $0.6 million and $20.0 million, respectively, from the change in fair value of the Series A Preference Shares. As of September 30, 2022, t he fair value of the Series A Preference Shares is $0.4 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 September 30, 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 and nine months ended September 30, 2022, the Company recorded gains of $2.8 million and $25.6 million, respectively, from the change in fair value of the Merger warrants. As of September 30, 2022, t he estimated fair value of the Merger warrants is $6.9 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 September 30, 2022, there was no change in the fair value of the P rivate warrants. During the nine months ended September 30, 2022, the Company recorded a gain of $3.2 million from the change in fair value of the P rivate warrants. The Private warrants have no e stimated fair value a s of September 30, 2022 . 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 September 30, 2022, there was no change in the fair value of the Sirius Group Public Warrants. During the nine months ended September 30, 2022, the Company recorded a gain of $1.1 million from the change in fair value of the Sirius Group Public Warrants. The Sirius Group Public Warrants have no estimated fair value as of September 30, 2022. 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 and nine months ended September 30, 2022, the Company recorded losses of $1.5 million and $10.9 million, respectively, from the change in fair value of the CVRs . As of September 30, 2022, t he fair value of the CVRs is $41.5 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 that have been included in the Company's consolidated statement of income for the nine months ended September 30, 2021 : For the period from February 26, 2021 to September 30, 2021 Total revenues $ 933.4 Net loss $ (161.5) Supplemental Pro Forma Information The following table presents unaudited pro forma consolidated financial information for the three and nine months ended September 30, 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 Nine months ended September 30, 2021 September 30, 2021 Total revenues $ 732.6 $ 1,958.8 Net income (loss) $ (47.8) $ 187.7 Among other adjustments, and in addition to the fair value adjustments and recognition of identifiable intangible assets noted above, other material nonrecurring pro forma adjustments directly attributable to the acquisition of Sirius Group principally included certain adjustments to recognize transaction-related costs, align reserving approach, amortize fair value adjustments, amortize identifiable indefinite lived intangible assets and recognize related tax impacts.

Segment reporting

Segment reporting	9 Months Ended
	Sep. 30, 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 segments and who are directly accountable to the Company’s chief operating decision maker, the Chief Executive Officer ("CEO"). 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 noncontrolling equity investments and debt investments in MGAs and other insurance-related business (collectively, “Strategic Investments”). 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 noncontrolling (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 and nine months ended September 30, 2022 and 2021: Three months ended September 30, 2022 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 318.4 $ 524.9 $ 843.3 $ — $ 0.5 $ — $ 843.8 Net premiums written 267.1 366.7 633.8 — 0.6 — 634.4 Net premiums earned 304.5 305.4 609.9 — 2.7 — 612.6 Loss and loss adjustment expenses incurred, net 286.3 217.8 504.1 (1.5) (4.7) — 497.9 Acquisition costs, net 69.8 81.0 150.8 (34.0) — — 116.8 Other underwriting expenses 28.0 15.3 43.3 — 1.5 — 44.8 Underwriting income (loss) (79.6) (8.7) (88.3) 35.5 5.9 — (46.9) Services revenue 3.4 52.5 55.9 (35.4) — (20.5) — Services expenses — 47.2 47.2 — — (47.2) — Net services fee income 3.4 5.3 8.7 (35.4) — 26.7 — Services noncontrolling loss — 0.5 0.5 — — (0.5) — Net investment gains from Strategic Investments 0.3 3.4 3.7 — — (3.7) — Net services income 3.7 9.2 12.9 (35.4) — 22.5 — Segment income (loss) (75.9) 0.5 (75.4) 0.1 5.9 22.5 (46.9) Net realized and unrealized investment gains (losses) (59.8) 3.7 (56.1) Net realized and unrealized investment losses from related party investment funds (8.3) — (8.3) Net investment income 36.2 — 36.2 Other revenues (7.4) 20.5 13.1 Net corporate and other expenses (23.6) (47.2) (70.8) Intangible asset amortization (2.1) — (2.1) Interest expense (9.4) — (9.4) Foreign exchange gains 51.6 — 51.6 Income (loss) before income tax expense $ (75.9) $ 0.5 (75.4) 0.1 (16.9) (0.5) (92.7) Income tax expense — — (0.9) — (0.9) Net loss (75.4) 0.1 (17.8) (0.5) (93.6) Net income attributable to noncontrolling interest — — (1.3) 0.5 (0.8) Net loss attributable to SiriusPoint $ (75.4) $ 0.1 $ (19.1) $ — $ (94.4) Underwriting Ratios: (1) Loss ratio 94.0 % 71.3 % 82.7 % 81.3 % Acquisition cost ratio 22.9 % 26.5 % 24.7 % 19.1 % Other underwriting expenses ratio 9.2 % 5.0 % 7.1 % 7.3 % Combined ratio 126.1 % 102.8 % 114.5 % 107.7 % (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 September 30, 2021 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 395.3 $ 240.6 $ 635.9 $ — $ 5.3 $ — $ 641.2 Net premiums written 289.6 183.9 473.5 — 5.3 — 478.8 Net premiums earned 326.4 160.6 487.0 — 12.6 — 499.6 Loss and loss adjustment expenses incurred, net 471.5 91.0 562.5 (0.8) 15.6 — 577.3 Acquisition costs, net 85.4 41.8 127.2 (21.4) 1.1 — 106.9 Other underwriting expenses 32.1 9.8 41.9 — 11.4 — 53.3 Underwriting income (loss) (262.6) 18.0 (244.6) 22.2 (15.5) — (237.9) Services revenue — 37.8 37.8 (25.3) — (12.5) — Services expenses — 40.4 40.4 — — (40.4) — Net services fee loss — (2.6) (2.6) (25.3) — 27.9 — Services noncontrolling loss — 3.4 3.4 — — (3.4) — Net services income — 0.8 0.8 (25.3) — 24.5 — Segment income (loss) (262.6) 18.8 (243.8) (3.1) (15.5) 24.5 (237.9) Net realized and unrealized investment losses (11.7) — (11.7) Net realized and unrealized investment gains from related party investment funds 202.4 — 202.4 Net investment income 9.1 — 9.1 Other revenues 20.7 12.5 33.2 Net corporate and other expenses (19.5) (40.4) (59.9) Intangible asset amortization (2.0) — (2.0) Interest expense (9.7) — (9.7) Foreign exchange gains 16.1 — 16.1 Income (loss) before income tax benefit $ (262.6) $ 18.8 (243.8) (3.1) 189.9 (3.4) (60.4) Income tax benefit — — 13.0 — 13.0 Net income (loss) (243.8) (3.1) 202.9 (3.4) (47.4) Net loss attributable to noncontrolling interest — — — 3.4 3.4 Net income (loss) available to SiriusPoint $ (243.8) $ (3.1) $ 202.9 $ — $ (44.0) Underwriting Ratios: (1) Loss ratio 144.5 % 56.7 % 115.5 % 115.6 % Acquisition cost ratio 26.2 % 26.0 % 26.1 % 21.4 % Other underwriting expenses ratio 9.8 % 6.1 % 8.6 % 10.7 % Combined ratio 180.5 % 88.8 % 150.2 % 147.7 % (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. Nine months ended September 30, 2022 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 1,220.9 $ 1,442.3 $ 2,663.2 $ — $ 2.9 $ — $ 2,666.1 Net premiums written 963.5 1,005.6 1,969.1 — 2.2 — 1,971.3 Net premiums earned 931.6 762.5 1,694.1 — 16.6 — 1,710.7 Loss and loss adjustment expenses incurred, net 685.5 506.6 1,192.1 (3.8) 10.0 — 1,198.3 Acquisition costs, net 236.0 198.4 434.4 (86.4) 0.9 — 348.9 Other underwriting expenses 86.8 46.8 133.6 — 4.5 — 138.1 Underwriting income (loss) (76.7) 10.7 (66.0) 90.2 1.2 — 25.4 Services revenue 3.4 165.9 169.3 (102.9) — (66.4) — Services expenses — 135.3 135.3 — — (135.3) — Net services fee income 3.4 30.6 34.0 (102.9) — 68.9 — Services noncontrolling loss — 0.6 0.6 — — (0.6) — Net investment gains from Strategic Investments 0.3 2.6 2.9 — — (2.9) — Net services income 3.7 33.8 37.5 (102.9) — 65.4 — Segment income (loss) (73.0) 44.5 (28.5) (12.7) 1.2 65.4 25.4 Net realized and unrealized investment gains (losses) (239.3) 2.9 (236.4) Net realized and unrealized investment losses from related party investment funds (199.8) — (199.8) Net investment income 61.4 — 61.4 Other revenues 29.7 66.4 96.1 Net corporate and other expenses (84.9) (135.3) (220.2) Intangible asset amortization (6.0) — (6.0) Interest expense (28.1) — (28.1) Foreign exchange gains 127.5 — 127.5 Income (loss) before income tax benefit $ (73.0) $ 44.5 (28.5) (12.7) (338.3) (0.6) (380.1) Income tax benefit — — 17.1 — 17.1 Net loss (28.5) (12.7) (321.2) (0.6) (363.0) Net income attributable to noncontrolling interests — — (1.8) 0.6 (1.2) Net loss attributable to SiriusPoint $ (28.5) $ (12.7) $ (323.0) $ — $ (364.2) Underwriting Ratios: (1) Loss ratio 73.6 % 66.4 % 70.4 % 70.0 % Acquisition cost ratio 25.3 % 26.0 % 25.6 % 20.4 % Other underwriting expenses ratio 9.3 % 6.1 % 7.9 % 8.1 % Combined ratio 108.2 % 98.5 % 103.9 % 98.5 % (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. Nine months ended September 30, 2021 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 931.6 $ 628.0 $ 1,559.6 $ — $ (13.9) $ — $ 1,545.7 Net premiums written 773.8 468.5 1,242.3 — (19.0) — 1,223.3 Net premiums earned 862.8 334.7 1,197.5 — (0.4) — 1,197.1 Loss and loss adjustment expenses incurred, net 773.7 198.6 972.3 (1.7) 4.5 — 975.1 Acquisition costs, net 224.1 97.6 321.7 (42.5) 2.3 — 281.5 Other underwriting expenses 82.6 19.0 101.6 — 19.0 — 120.6 Underwriting income (loss) (217.6) 19.5 (198.1) 44.2 (26.2) — (180.1) Services revenue — 89.9 89.9 (52.6) — (37.3) — Services expenses — 81.0 81.0 — — (81.0) — Net services fee income — 8.9 8.9 (52.6) — 43.7 — Services noncontrolling loss — 1.8 1.8 — — (1.8) — Net investment gains from Strategic Investments 0.3 41.3 41.6 — — (41.6) — Net services income 0.3 52.0 52.3 (52.6) — 0.3 — Segment income (loss) (217.3) 71.5 (145.8) (8.4) (26.2) 0.3 (180.1) Net realized and unrealized investment gains 2.1 41.6 43.7 Net realized and unrealized investment gains from related party investment funds 401.2 — 401.2 Net investment income 18.8 — 18.8 Other revenues 84.6 37.3 121.9 Net corporate and other expenses (113.5) (81.0) (194.5) Intangible asset amortization (4.1) — (4.1) Interest expense (24.4) — (24.4) Foreign exchange gains 16.5 — 16.5 Income (loss) before income tax expense $ (217.3) $ 71.5 (145.8) (8.4) 355.0 (1.8) 199.0 Income tax expense — — (6.4) — (6.4) Net income (loss) (145.8) (8.4) 348.6 (1.8) 192.6 Net loss attributable to noncontrolling interests — — — 1.8 1.8 Net income (loss) available to SiriusPoint $ (145.8) $ (8.4) $ 348.6 $ — $ 194.4 Underwriting Ratios: (1) Loss ratio 89.7 % 59.3 % 81.2 % 81.5 % Acquisition cost ratio 26.0 % 29.2 % 26.9 % 23.5 % Other underwriting expenses ratio 9.6 % 5.7 % 8.5 % 10.1 % Combined ratio 125.3 % 94.2 % 116.6 % 115.1 % (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	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Cash and cash equivalents $ 647.3 $ 999.8 Restricted cash securing letter of credit facilities (1) 66.9 500.2 Restricted cash securing reinsurance contracts (2) 55.7 431.8 Restricted cash held by managing general underwriters 21.6 16.6 Total cash, cash equivalents and restricted cash (3) 791.5 1,948.4 Restricted investments securing reinsurance contracts and letter of credit facilities (1) (2) (4) 2,076.8 1,107.0 Total cash, cash equivalents, restricted cash and restricted investments $ 2,868.3 $ 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	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, 2022 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Asset-backed securities $ — $ 642.0 $ — $ 642.0 Residential mortgage-backed securities — 141.2 — 141.2 Commercial mortgage-backed securities — 117.0 — 117.0 Corporate debt securities — 404.4 — 404.4 U.S. government and government agency 286.1 11.0 — 297.1 Non-U.S. government and government agency 8.9 83.3 — 92.2 Preferred stocks — — 3.2 3.2 Total debt securities, trading 295.0 1,398.9 3.2 1,697.1 Asset-backed securities — 133.9 — 133.9 Residential mortgage-backed securities — 212.8 — 212.8 Commercial mortgage-backed securities — 18.6 — 18.6 Corporate debt securities — 386.0 — 386.0 U.S. government and government agency 552.3 — — 552.3 Non-U.S. government and government agency 3.8 16.6 — 20.4 Total debt securities, available for sale 556.1 767.9 — 1,324.0 Fixed income mutual funds 1.3 — — 1.3 Common stocks 0.1 — — 0.1 Total equity securities 1.4 — — 1.4 Short-term investments 1,844.6 147.0 — 1,991.6 Other long-term investments — — 324.8 324.8 Derivative assets — — 3.1 3.1 $ 2,697.1 $ 2,313.8 $ 331.1 5,342.0 Investments in funds valued at NAV 399.1 Total assets $ 5,741.1 Liabilities Total securities sold, not yet purchased $ 41.7 $ — $ — $ 41.7 Securities sold under an agreement to repurchase — 17.3 — 17.3 Liability-classified capital instruments — 48.9 — 48.9 Derivative liabilities — — 1.5 1.5 Total liabilities $ 41.7 $ 66.2 $ 1.5 $ 109.4 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, trading 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 nine months ended September 30, 2022, the Company did not reclassify its assets or liabilities between Levels 2 and 3. (December 31, 2021 - no reclassifications) 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 generally 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. 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 at fair value using Level 3 inputs for the three and nine months ended September 30, 2022: July 1, 2022 Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) Change in Unrealized Gains (Losses) in OCI September 30, Assets Preferred stocks $ 3.2 $ — $ — $ — $ — $ — $ 3.2 Other long-term investments 318.1 — 8.9 (6.7) 4.5 — 324.8 Derivative assets (2.4) — — (0.2) (0.3) — (2.9) Total assets $ 318.9 $ — $ 8.9 $ (6.9) $ 4.2 $ — $ 325.1 Liabilities Liability-classified capital instruments $ (10.7) $ — $ — $ — $ 3.4 $ — $ (7.3) Derivative liabilities (5.0) — (7.8) — (5.7) — (18.5) Total liabilities $ (15.7) $ — $ (7.8) $ — $ (2.3) $ — $ (25.8) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) Change in Unrealized Gains (Losses) in OCI September 30, Assets Preferred stocks $ 2.8 $ — $ — $ — $ 0.4 $ — $ 3.2 Other long-term investments 336.9 (40.6) 62.9 (33.0) (1.4) — 324.8 Derivative assets 0.4 — 0.6 (2.8) (1.1) — (2.9) Total assets $ 340.1 $ (40.6) $ 63.5 $ (35.8) $ (2.1) $ — $ 325.1 Liabilities Liability-classified capital instruments $ (57.2) $ — $ — $ — $ 49.9 $ — $ (7.3) Derivative liabilities (3.2) — (4.7) — (10.6) — (18.5) Total liabilities $ (60.4) $ — $ (4.7) $ — $ 39.3 $ — $ (25.8) (1) 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 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). The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three and nine months ended September 30, 2021: July 1, 2021 Transfers in to (out of) Level 3 Purchases Assets Acquired Sales Realized and Unrealized Gains (Losses) (1) September 30, Assets Preferred stocks $ 12.8 $ — $ 10.0 $ — $ — $ — $ 22.8 Other long-term investments 322.1 — 7.0 — (3.5) 2.5 328.1 Derivative assets 5.2 (0.7) — — — (2.0) 2.5 Loan participations 36.5 — 5.2 — (42.7) 1.0 — Total assets $ 376.6 $ (0.7) $ 22.2 $ — $ (46.2) $ 1.5 $ 353.4 Liabilities Liability-classified capital instruments $ (99.3) $ — $ — $ — $ — $ 22.0 $ (77.3) Contingent consideration (1.5) — — — 1.9 (0.4) — Derivative liabilities (3.7) 0.7 (0.1) — — 0.3 (2.8) Total liabilities $ (104.5) $ 0.7 $ (0.1) $ — $ 1.9 $ 21.9 $ (80.1) January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired Sales Realized and Unrealized Gains (Losses) (1) September 30, Assets Preferred stocks $ — $ — $ 20.0 $ 2.8 $ — $ — $ 22.8 Other long-term investments 4.0 — 34.7 259.0 (9.4) 39.8 328.1 Derivative assets 1.2 (1.2) — 0.3 — 2.2 2.5 Loan participations — — 9.0 32.8 (42.8) 1.0 — Total assets $ 5.2 $ (1.2) $ 63.7 $ 294.9 $ (52.2) $ 43.0 $ 353.4 Liabilities Liability-classified capital instruments $ — $ 27.0 $ (137.6) $ — $ — $ 33.3 $ (77.3) Contingent consideration liabilities — — — (0.7) 1.9 (1.2) — Derivative liabilities (1.0) 1.2 (0.4) (2.0) — (0.6) (2.8) Total liabilities $ (1.0) $ 28.2 $ (138.0) $ (2.7) $ 1.9 $ 31.5 $ (80.1) (1) 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 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 September 30, 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 September 30, 2022 and December 31, 2021. The fair values of the below financial instruments are based on observable inputs and are considered Level 2 measurements. September 30, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value 2017 SEK Subordinated Notes $ 242.7 $ 241.9 $ 302.3 $ 296.3 2016 Senior Notes 344.0 405.5 412.8 406.0 2015 Senior Notes 112.1 114.6 120.5 114.4 Series B preference shares $ 188.8 $ 200.0 $ 220.9 $ 200.0

Investments

Investments	9 Months Ended
	Sep. 30, 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 held for trading, debt securities available for sale, short-term investments, equity securities, and other long-term investments which are classified as trading securities with the exception of debt securities held as available for sale. Realized investment gains and losses on debt securities are reported in pre-tax revenues. Unrealized investment gains and losses on debt securities are reported based on classification. Trading securities flow through pre-tax revenues whereas securities classified as available for sale flow through other comprehensive income (loss). 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 September 30, 2022 and December 31, 2021: September 30, 2022 Cost or Gross Gross unrealized losses (2) Net foreign Fair value Debt securities, trading Asset-backed securities $ 667.8 $ — $ (25.8) $ — $ 642.0 Residential mortgage-backed securities 162.7 — (21.5) — 141.2 Commercial mortgage-backed securities 133.2 — (16.2) — 117.0 Corporate debt securities 439.4 — (30.9) (4.1) 404.4 U.S. government and government agency (1) 306.8 — (9.7) — 297.1 Non-U.S. government and government agency 99.2 — (2.2) (4.8) 92.2 Preferred stocks 2.4 0.8 — — 3.2 Total debt securities, trading $ 1,811.5 $ 0.8 $ (106.3) $ (8.9) $ 1,697.1 Debt securities, available for sale Asset-backed securities $ 137.8 $ — $ (3.9) $ — $ 133.9 Residential mortgage-backed securities 223.0 — (10.2) — 212.8 Commercial mortgage-backed securities 19.3 — (0.7) — 18.6 Corporate debt securities 405.3 0.1 (17.4) (2.0) 386.0 U.S. government and government agency (1) 564.7 — (12.4) — 552.3 Non-U.S. government and government agency 21.7 — (0.5) (0.8) 20.4 Total debt securities, available for sale (3) $ 1,371.8 $ 0.1 $ (45.1) $ (2.8) $ 1,324.0 (1) The Company had $41.7 million of short positions in long duration U.S. Treasuries as of September 30, 2022. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. (2) As of September 30, 2022, all debt securities classified as available for sale that are in a gross unrealized loss position have been in a gross unrealized loss position for less than 12 months. (3) As of September 30, 2022, the Company did not record an allowance for credit losses on the AFS portfolio. 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, trading (2) $ 2,099.3 $ 2.7 $ (15.6) $ (0.8) $ 2,085.6 (1) The Company had no short positions in long duration U.S. Treasuries as of December 31, 2021. (2) As of December 31, 2021, there were no debt securities classified as available for sale. The weighted average duration of the Company's debt securities, net of short positions in U.S. treasuries, as of September 30, 2022 was approximately 1.3 years, including short-term investments, and approximately 2.0 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 bifurcated into debt securities held for trading (“trading”) and AFS as of September 30, 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. September 30, 2022 December 31, 2021 Debt securities, trading Debt securities, AFS Debt securities, trading Cost or Fair value Cost or Fair value Cost or Fair value Due in one year or less $ 229.3 $ 223.5 $ 34.9 $ 33.6 $ 145.6 $ 145.1 Due after one year through five years 492.6 467.5 866.3 841.2 870.4 862.4 Due after five years through ten years 68.1 58.0 81.7 76.0 69.6 68.6 Due after ten years 55.4 44.6 8.8 7.8 43.6 44.4 Mortgage-backed and asset-backed securities 963.7 900.3 380.1 365.4 967.5 962.3 Preferred stocks 2.4 3.2 — — 2.6 2.8 Total debt securities (1) $ 1,811.5 $ 1,697.1 $ 1,371.8 $ 1,324.0 $ 2,099.3 $ 2,085.6 (1) As of December 31, 2021, there were no debt securities classified as available for sale. The following table summarizes the ratings and fair value of debt securities held in the Company's investment portfolio as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Debt securities, trading Debt securities, AFS Debt securities, trading AAA $ 633.0 $ 126.5 $ 696.4 AA 571.8 803.9 884.1 A 196.9 166.8 278.5 BBB 187.3 146.6 153.1 Other 108.1 80.2 73.5 Total debt securities (1)(2) $ 1,697.1 $ 1,324.0 $ 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. (2) As of December 31, 2021, there were no debt securities classified as available for sale. As of September 30, 2022, the above totals included $59.5 million of sub-prime securities. Of this total, $37.4 million was rated AAA, $10.2 million rated AA, $1.6 million rated A and $10.3 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. Debt securities classified as available for sale For debt securities classified as available for sale for which a decline in the fair value between the amortized cost is due to credit-related factors, an allowance is established for the difference between the estimated recoverable value and amortized cost with a corresponding impact to the consolidated statements of income (loss). The allowance is limited to the difference between amortized cost and fair value. A credit losses impairment assessment is performed on securities with both quantitative and qualitative factors. Qualitative factors include significant declines in fair value below amortized cost. Additionally, a qualitative assessment is also performed over debt securities to evaluate potential credit losses. Examples of qualitative indicators include issuer credit downgrades as well as changes to credit spreads. Declines in fair value related to a debt security that does not relate to a credit loss is recorded as a component of accumulated other comprehensive income (loss). 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 September 30, 2022 and December 31, 2021, were as follows: Cost or Gross Gross Net foreign Fair value September 30, 2022 Equity securities $ 1.7 $ — $ (0.4) $ 0.1 $ 1.4 Other long-term investments $ 407.8 $ 29.8 $ (25.6) $ 2.9 $ 414.9 December 31, 2021 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Fixed income mutual funds $ 1.3 $ 2.1 Common stocks 0.1 0.7 Total equity securities $ 1.4 $ 2.8 The carrying value of other long-term investments as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Hedge funds and private equity funds (1) $ 106.2 $ 195.7 Strategic Investments (2) 258.3 215.3 Limited liability companies and private equity securities (2) 50.4 45.1 Total other long-term investments $ 414.9 $ 456.1 (1) Includ es $85.1 million of investments carried at NAV (December 31, 2021 - $115.2 million) and $21.1 million of investments classified as Level 3 ( December 31, 2021 - $80.5 million) within the fair value hierarchy. (2) As of September 30, 2022, the Company had $9.8 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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Fair value Unfunded Fair value Unfunded Hedge funds Long/short multi-sector $ 8.4 $ — $ 19.8 $ — Distressed mortgage credit — — 24.6 — Private credit 23.9 — 24.2 — Other 0.2 — 1.7 — Total hedge funds 32.5 — 70.3 — Private equity funds Energy infrastructure & services 32.1 5.2 48.4 19.0 Multi-sector 6.0 4.8 10.1 5.1 Healthcare 16.0 0.3 31.0 2.2 Life settlement 14.1 — 12.9 — Manufacturing/Industrial — — 19.9 — Private equity secondaries 0.5 0.4 0.5 0.4 Other 5.0 — 2.6 — Total private equity funds 73.7 10.7 125.4 26.7 Total hedge and private equity funds included in other long-term investments $ 106.2 $ 10.7 $ 195.7 $ 26.7 (1) The 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 September 30, 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 $ 8.4 $ — $ — $ 8.5 Semi-annual — — 0.1 — — 0.1 Annual — — — 0.1 23.8 23.9 Total $ — $ 0.1 $ 8.5 $ 0.1 $ 23.8 $ 32.5 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 September 30, 2022, $14.9 million in di stributions 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 September 30, 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 $ 41.5 $ 16.0 $ 16.2 $ 73.7 Investments in related party investment funds The following table provides the fair value of the Company's investments in related party investment funds as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Third Point Enhanced LP $ 280.3 $ 878.2 Third Point Venture Offshore Fund I LP 28.7 31.4 Investments in related party investment funds, at fair value $ 309.0 $ 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, or contractually committed to, the 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 September 30, 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 co mpanies, 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 September 30, 2022, the Company had $9.5 million of unfunded commitments related to TP Venture Fund . As of September 30, 2022, the Company holds interests of approximately 16.7% of the net asset value of 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Equity method eligible unconsolidated entities, using the fair value option (1) (3) $ 211.5 $ 225.3 Equity method investments 22.6 26.7 Other unconsolidated investments, at fair value (2) 122.4 198.0 Other unconsolidated investments, at cost (3) 58.4 6.0 Total other long-term investments $ 414.9 $ 456.1 (1) 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 less 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 was 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 September 30, 2022: September 30, 2022 December 31, 2021 Investee (1) Fair value Ownership interest Fair value Ownership interest Instrument held BE Reinsurance Limited $ 15.1 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 5.2 18.1 % 4.0 18.1 % Units Monarch Alternative Capital, LP 5.1 12.8 % 5.7 12.8 % Units New Energy Capital Infrastructure Credit Fund LP 14.2 18.3 % 20.1 18.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 9.5 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 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	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Total realized and unrealized investment gains (losses) and net investment income	8. Total realized and unrealized investment gains (losses) and net investment income Total realized and unrealized investment gains (losses) and net investment income for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading $ (21.2) $ 2.4 $ (141.4) $ 12.6 Debt securities, available for sale 12.5 — 15.4 — Short-term investments (6.1) (5.6) (8.7) (4.2) Other long-term investments 7.1 11.5 5.5 73.4 Equity securities (0.1) (1.4) (0.5) (1.4) Net realized and unrealized investment gains (losses) from related party investment funds (8.3) 202.4 (199.8) 401.2 Realized and unrealized investment gains (losses) and net investment income before other investment expenses and investment loss on cash and cash equivalents (16.1) 209.3 (329.5) 481.6 Other investment expenses (6.9) (7.8) (14.5) (12.3) Net investment loss on cash and cash equivalents (5.2) (1.7) (30.8) (5.6) Total realized and unrealized investment gains (losses) and net investment income $ (28.2) $ 199.8 $ (374.8) $ 463.7 Net realized and unrealized gains (losses) on investments Net realized and unrealized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Gross realized gains $ 23.6 $ 8.3 $ 47.0 $ 32.8 Gross realized losses (45.9) (2.6) (107.1) (9.8) Net realized gains (losses) on investments (22.3) 5.7 (60.1) 23.0 Net unrealized gains (losses) on investments (33.8) (17.4) (176.3) 20.7 Net realized and unrealized gains (losses) on investments (1) (2) $ (56.1) $ (11.7) $ (236.4) $ 43.7 (1) Excludes realized and unrealized gains (losses) on the Company’s investments in related party investment funds and unrealized gains (losses) from available for sale investments, net of tax. (2) Includes net realized and unrealized gains of $0.2 million and $1.0 million from affiliated investments included in other long-term investments for the three and nine months ended September 30, 2022, respectively (2021 - $5.1 million and $49.4 million, respectively). Net realized investment gains (losses) Net realized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading $ (29.6) $ 5.3 $ (51.8) $ 13.3 Debt securities, available for sale 1.8 — 2.0 — Short-term investments (0.4) (1.6) (0.5) (1.6) Equity securities — — (2.3) — Other long-term investments 5.0 1.2 3.2 11.8 Net investment income (loss) on cash and cash equivalents 0.9 0.8 (10.7) (0.5) Net realized investment gains (losses) (1) $ (22.3) $ 5.7 $ (60.1) $ 23.0 (1) Includes realized gains (losses) due to foreign currency of $(22.3) million and $(35.0) million for the three and nine months ended September 30, 2022, respectively (2021 - $2.6 million and $1.1 million, respectively). Net unrealized investment gains (losses) Net unrealized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading (1) $ (7.5) $ (15.2) $ (128.6) $ (23.4) Short-term investments (14.3) (6.8) (18.9) (6.3) Equity securities (0.1) (1.4) 1.7 (1.3) Other long-term investments (2.3) 4.9 (5.1) 54.0 Net investment income (loss) on cash and cash equivalents (9.6) 1.1 (25.4) (2.4) Net unrealized investment gains (losses) (2) $ (33.8) $ (17.4) $ (176.3) $ 20.7 (1) Includes unrealized losses excluding foreign currency, of $(1.1) million and $(105.0) million for the three and nine months ended September 30, 2022, respectively (2021 - $(5.5) million and $(9.3) million, respectively). (2) Includes unrealized losses due to foreign currency of $(23.3) million and $(51.5) million for the three and nine months ended September 30, 2022, respectively (2021 - $(11.2) million and $(17.4) million, respectively). The following table summarizes the amount of total gains included in earnings attributable to unrealized investment gains – Level 3 investments for the three and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading $ 0.1 $ — $ 0.6 $ — Other long-term investments 2.6 2.0 0.3 40.3 Total unrealized investment gains – Level 3 investments $ 2.7 $ 2.0 $ 0.9 $ 40.3

Investments in unconsolidated e

Investments in unconsolidated entities	9 Months Ended
	Sep. 30, 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 held for trading, debt securities available for sale, short-term investments, equity securities, and other long-term investments which are classified as trading securities with the exception of debt securities held as available for sale. Realized investment gains and losses on debt securities are reported in pre-tax revenues. Unrealized investment gains and losses on debt securities are reported based on classification. Trading securities flow through pre-tax revenues whereas securities classified as available for sale flow through other comprehensive income (loss). 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 September 30, 2022 and December 31, 2021: September 30, 2022 Cost or Gross Gross unrealized losses (2) Net foreign Fair value Debt securities, trading Asset-backed securities $ 667.8 $ — $ (25.8) $ — $ 642.0 Residential mortgage-backed securities 162.7 — (21.5) — 141.2 Commercial mortgage-backed securities 133.2 — (16.2) — 117.0 Corporate debt securities 439.4 — (30.9) (4.1) 404.4 U.S. government and government agency (1) 306.8 — (9.7) — 297.1 Non-U.S. government and government agency 99.2 — (2.2) (4.8) 92.2 Preferred stocks 2.4 0.8 — — 3.2 Total debt securities, trading $ 1,811.5 $ 0.8 $ (106.3) $ (8.9) $ 1,697.1 Debt securities, available for sale Asset-backed securities $ 137.8 $ — $ (3.9) $ — $ 133.9 Residential mortgage-backed securities 223.0 — (10.2) — 212.8 Commercial mortgage-backed securities 19.3 — (0.7) — 18.6 Corporate debt securities 405.3 0.1 (17.4) (2.0) 386.0 U.S. government and government agency (1) 564.7 — (12.4) — 552.3 Non-U.S. government and government agency 21.7 — (0.5) (0.8) 20.4 Total debt securities, available for sale (3) $ 1,371.8 $ 0.1 $ (45.1) $ (2.8) $ 1,324.0 (1) The Company had $41.7 million of short positions in long duration U.S. Treasuries as of September 30, 2022. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. (2) As of September 30, 2022, all debt securities classified as available for sale that are in a gross unrealized loss position have been in a gross unrealized loss position for less than 12 months. (3) As of September 30, 2022, the Company did not record an allowance for credit losses on the AFS portfolio. 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, trading (2) $ 2,099.3 $ 2.7 $ (15.6) $ (0.8) $ 2,085.6 (1) The Company had no short positions in long duration U.S. Treasuries as of December 31, 2021. (2) As of December 31, 2021, there were no debt securities classified as available for sale. The weighted average duration of the Company's debt securities, net of short positions in U.S. treasuries, as of September 30, 2022 was approximately 1.3 years, including short-term investments, and approximately 2.0 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 bifurcated into debt securities held for trading (“trading”) and AFS as of September 30, 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. September 30, 2022 December 31, 2021 Debt securities, trading Debt securities, AFS Debt securities, trading Cost or Fair value Cost or Fair value Cost or Fair value Due in one year or less $ 229.3 $ 223.5 $ 34.9 $ 33.6 $ 145.6 $ 145.1 Due after one year through five years 492.6 467.5 866.3 841.2 870.4 862.4 Due after five years through ten years 68.1 58.0 81.7 76.0 69.6 68.6 Due after ten years 55.4 44.6 8.8 7.8 43.6 44.4 Mortgage-backed and asset-backed securities 963.7 900.3 380.1 365.4 967.5 962.3 Preferred stocks 2.4 3.2 — — 2.6 2.8 Total debt securities (1) $ 1,811.5 $ 1,697.1 $ 1,371.8 $ 1,324.0 $ 2,099.3 $ 2,085.6 (1) As of December 31, 2021, there were no debt securities classified as available for sale. The following table summarizes the ratings and fair value of debt securities held in the Company's investment portfolio as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Debt securities, trading Debt securities, AFS Debt securities, trading AAA $ 633.0 $ 126.5 $ 696.4 AA 571.8 803.9 884.1 A 196.9 166.8 278.5 BBB 187.3 146.6 153.1 Other 108.1 80.2 73.5 Total debt securities (1)(2) $ 1,697.1 $ 1,324.0 $ 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. (2) As of December 31, 2021, there were no debt securities classified as available for sale. As of September 30, 2022, the above totals included $59.5 million of sub-prime securities. Of this total, $37.4 million was rated AAA, $10.2 million rated AA, $1.6 million rated A and $10.3 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. Debt securities classified as available for sale For debt securities classified as available for sale for which a decline in the fair value between the amortized cost is due to credit-related factors, an allowance is established for the difference between the estimated recoverable value and amortized cost with a corresponding impact to the consolidated statements of income (loss). The allowance is limited to the difference between amortized cost and fair value. A credit losses impairment assessment is performed on securities with both quantitative and qualitative factors. Qualitative factors include significant declines in fair value below amortized cost. Additionally, a qualitative assessment is also performed over debt securities to evaluate potential credit losses. Examples of qualitative indicators include issuer credit downgrades as well as changes to credit spreads. Declines in fair value related to a debt security that does not relate to a credit loss is recorded as a component of accumulated other comprehensive income (loss). 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 September 30, 2022 and December 31, 2021, were as follows: Cost or Gross Gross Net foreign Fair value September 30, 2022 Equity securities $ 1.7 $ — $ (0.4) $ 0.1 $ 1.4 Other long-term investments $ 407.8 $ 29.8 $ (25.6) $ 2.9 $ 414.9 December 31, 2021 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Fixed income mutual funds $ 1.3 $ 2.1 Common stocks 0.1 0.7 Total equity securities $ 1.4 $ 2.8 The carrying value of other long-term investments as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Hedge funds and private equity funds (1) $ 106.2 $ 195.7 Strategic Investments (2) 258.3 215.3 Limited liability companies and private equity securities (2) 50.4 45.1 Total other long-term investments $ 414.9 $ 456.1 (1) Includ es $85.1 million of investments carried at NAV (December 31, 2021 - $115.2 million) and $21.1 million of investments classified as Level 3 ( December 31, 2021 - $80.5 million) within the fair value hierarchy. (2) As of September 30, 2022, the Company had $9.8 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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Fair value Unfunded Fair value Unfunded Hedge funds Long/short multi-sector $ 8.4 $ — $ 19.8 $ — Distressed mortgage credit — — 24.6 — Private credit 23.9 — 24.2 — Other 0.2 — 1.7 — Total hedge funds 32.5 — 70.3 — Private equity funds Energy infrastructure & services 32.1 5.2 48.4 19.0 Multi-sector 6.0 4.8 10.1 5.1 Healthcare 16.0 0.3 31.0 2.2 Life settlement 14.1 — 12.9 — Manufacturing/Industrial — — 19.9 — Private equity secondaries 0.5 0.4 0.5 0.4 Other 5.0 — 2.6 — Total private equity funds 73.7 10.7 125.4 26.7 Total hedge and private equity funds included in other long-term investments $ 106.2 $ 10.7 $ 195.7 $ 26.7 (1) The 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 September 30, 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 $ 8.4 $ — $ — $ 8.5 Semi-annual — — 0.1 — — 0.1 Annual — — — 0.1 23.8 23.9 Total $ — $ 0.1 $ 8.5 $ 0.1 $ 23.8 $ 32.5 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 September 30, 2022, $14.9 million in di stributions 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 September 30, 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 $ 41.5 $ 16.0 $ 16.2 $ 73.7 Investments in related party investment funds The following table provides the fair value of the Company's investments in related party investment funds as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Third Point Enhanced LP $ 280.3 $ 878.2 Third Point Venture Offshore Fund I LP 28.7 31.4 Investments in related party investment funds, at fair value $ 309.0 $ 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, or contractually committed to, the 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 September 30, 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 co mpanies, 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 September 30, 2022, the Company had $9.5 million of unfunded commitments related to TP Venture Fund . As of September 30, 2022, the Company holds interests of approximately 16.7% of the net asset value of 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Equity method eligible unconsolidated entities, using the fair value option (1) (3) $ 211.5 $ 225.3 Equity method investments 22.6 26.7 Other unconsolidated investments, at fair value (2) 122.4 198.0 Other unconsolidated investments, at cost (3) 58.4 6.0 Total other long-term investments $ 414.9 $ 456.1 (1) 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 less 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 was 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 September 30, 2022: September 30, 2022 December 31, 2021 Investee (1) Fair value Ownership interest Fair value Ownership interest Instrument held BE Reinsurance Limited $ 15.1 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 5.2 18.1 % 4.0 18.1 % Units Monarch Alternative Capital, LP 5.1 12.8 % 5.7 12.8 % Units New Energy Capital Infrastructure Credit Fund LP 14.2 18.3 % 20.1 18.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 9.5 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 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	9 Months Ended
	Sep. 30, 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 September 30, 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 matured 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 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 September 30, 2022: September 30, 2022 December 31, 2021 Derivatives not designated as hedging instruments Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Foreign currency forwards $ — $ (14.8) $ 118.8 $ — $ 1.3 $ 83.6 Foreign currency futures contracts — — 303.2 0.2 — 133.9 Weather derivatives — (2.6) 9.9 — 0.8 6.2 Foreign currency swaps — — — — 1.7 40.0 Equity warrants — — — 0.1 — 0.1 Interest rate cap $ — $ — $ — $ — $ — $ 250.0 (1) Derivative assets are classified within other assets in the Company’s consolidated balance sheets . (2) Derivative liabilities are classified within accounts payable, accrued expenses and other liabilities in the Company’s consolidated balance sheets. 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 and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended Derivatives not designated as hedging instruments Classification of gains (losses) recognized in earnings September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Foreign currency forwards Foreign exchange gains $ (7.5) $ (0.7) $ (14.3) $ (0.6) Foreign currency futures contracts Foreign exchange gains (22.0) (2.8) (52.8) (4.7) Weather derivatives Other revenues 0.1 — (0.3) 1.4 Equity warrants Net realized and unrealized investment gains (losses) — (0.2) (0.1) (0.1) Foreign currency swaps Foreign exchange (gains) losses — 1.1 — — Foreign currency call options Foreign exchange (gains) losses $ — $ — $ — $ 0.4 Underwriting-related derivatives The following table identifies the listing currency, fair value and notional amounts of underwriting-related derivatives included in the consolidated balance sheets as of September 30, 2022 and December 31, 2021: September 30, 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 $ 3.1 $ 155.6 $ 1.2 $ 49.3 Derivative liabilities Reinsurance contracts accounted for as derivative liabilities British Pound $ 1.5 $ 81.4 $ 0.1 $ 37.4 (1) The absolute notional exposure represents the Company’s derivative activity as of September 30, 2022 and December 31, 2021, which is representative of the volume of derivatives held during the period.

Variable interest entities

Variable interest entities	9 Months Ended
	Sep. 30, 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 has concluded that it is the primary beneficiary of Alstead Re because the Company can exercise control 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 September 30, 2022, Alstead Re’s assets and liabilities included in the Company’s consolidated balance sheets were $11.2 million and $5.9 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 has concluded that it is the primary beneficiary of Arcadian because the Company can exercise control 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 September 30, 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 September 30, 2022 , Arcadian’s assets and liabilities, after intercompany eliminations, included in the Company’s consolidated bala nce sheets were $42.2 million and $6.5 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 has concluded that it is the primary beneficiary of Joyn because the Company can exercise control 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. As of September 30, 2022, the Company owned 1,175,000 preferred equity shares of Joyn at a cost of $3.5 million, comprising 50% of Joyn’s fully-diluted share capital, and held certain secured and unsecured promissory notes issued by Joyn, which totaled $13.4 million in aggregate principal and accrued interest. As of September 30, 2022, Joyn’s assets and liabilities, after intercompany eliminations, included in the Company’s consolidated balance sheets were $3.6 million and $5.8 million, respectively ( December 31, 2021 - $7.8 million and $4.1 million, respectively). During the three and nine months ended September 30, 2022, the Company recognized a pre-tax loss of $9.0 million and $14.4 million, respectively, related to Joyn. As of September 30, 2022, the Company has recognized the losses previously allocated to the Joyn noncontrolling interest shareholders. This has resulted in a pre-tax loss during the three and nine months ended September 30, 2022 of $6.7 million, recorded in other revenues in the Company’s consolidated statements of income (loss). Consolidated voting interest entities Alta Signa On June 30, 2022, the Company entered into a strategic partnership with Alta Signa Holdings (“Alta Signa”), a European MGA specializing in financial and professional lines insurance. The Company’s ownership in Alta Signa as of September 30, 2022 was 75.1%. Alta Signa is considered a VOE and the Company holds a majority of the voting interests through its seats on Alta Signa’s board of directors. As a result, the Company has consolidated the results of Alta Signa in its consolidated financial statements. As of September 30, 2022, Alta Signa’s assets and liabilities, after intercompany eliminations, included in the Company’s consolidated balance sheets were $7.9 million and $1.5 million, respectively. Noncontrolling interests Noncontrolling 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 and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Balance, beginning of period $ 0.8 $ 3.3 $ (0.4) $ 1.4 Sirius Group acquisition and other business combinations (1) — — 0.8 0.3 Net income (loss) attributable to noncontrolling interests 0.8 (3.4) 1.2 (1.8) Contributions (Redemptions) — 0.1 — 0.1 Derecognition of noncontrolling interest (2) 6.7 — 6.7 — Balance, end of period $ 8.3 $ — $ 8.3 $ — (1) See Note 3 for additional information related to the acquisition of Sirius Group. (2) See above for additional information on the derecognition of noncontrolling interest. 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 September 30, 2022 and December 31, 2021: Maximum Exposure to Loss Total VIE Assets On-Balance Sheet Off-Balance Sheet Total September 30, 2022 Other long-term investments (1) $ 276.5 $ 149.2 $ 2.0 $ 151.2 December 31, 2021 Other long-term investments (1) $ 326.2 $ 177.5 $ 2.1 $ 179.6 (1) 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 September 30, 2022, the Company and TP GP hold interests of approximately 89.4% and 10.6%, 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 and nine months ended September 30, 2022 and 2021, and summarized balance sheet as of September 30, 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). Three months ended Nine months ended TP Enhanced Fund summarized income statement September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Investment income (loss) Net realized gain (loss) from securities, derivative contracts and foreign currency translations $ (8.6) $ 38.3 $ 98.2 $ 298.4 Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations (3.4) 244.2 (327.2) 268.4 Net income (loss) from currencies 0.2 0.4 1.3 — Dividend and interest income 3.6 8.1 23.7 22.8 Other income 0.1 — 0.3 — Total investment income (loss) $ (8.1) $ 291.0 (203.7) 589.6 Expenses Management fees $ 0.9 4.1 $ 4.9 12.1 Interest 0.8 1.5 3.7 4.4 Dividends on securities sold, not yet purchased 0.2 1.5 1.3 4.5 Administrative and professional fees — 0.6 1.2 2.0 Other expenses 0.2 1.3 1.0 4.7 Total expenses 2.1 9.0 12.1 27.7 Net income (loss) $ (10.2) $ 282.0 $ (215.8) $ 561.9 The following table is a summarized balance sheet of TP Enhanced Fund as of September 30, 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 September 30, December 31, 2021 Assets Total investments in securities and affiliated funds $ 378.3 $ 1,623.5 Cash and cash equivalents 0.1 0.1 Due from brokers 131.1 524.0 Derivative assets, at fair value 11.1 46.5 Interest and dividends receivable 1.2 3.1 Other assets 0.1 1.5 Total assets $ 521.9 $ 2,198.7 Liabilities Accounts payable and accrued expenses $ 0.7 $ 1.1 Securities sold, not yet purchased, at fair value 56.6 290.4 Securities sold under agreement to repurchase 13.7 33.6 Due to brokers 134.1 493.6 Derivative liabilities, at fair value 3.0 8.4 Withdrawals payable to General Partner — 139.5 Redemptions payable to SiriusPoint — 250.0 Interest and dividends payable 0.2 0.7 Management fee payable — 0.2 Total liabilities 208.3 1,217.5 Total partners' capital $ 313.6 $ 981.2 Investment in Third Point Venture Offshore Fund I LP TP Venture GP controls all of the investment decision-making authority of the TP Venture Fund. The Company does not have the power to direct the activities which most significantly impact the economic performance of the TP Venture Fund . The Company’s maximum exposure to loss corresponds to the value of its investment in the TP Venture Fund . See Note 7 for additional information on the Company’s investment in the TP Venture Fund.

Loss and loss adjustment expens

Loss and loss adjustment expense reserves	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2022 and 2021: September 30, 2022 September 30, 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 1,215.5 1,001.0 Prior years (17.2) (25.9) Total incurred loss and loss adjustment expenses 1,198.3 975.1 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (180.4) (152.3) Prior years (616.1) (543.9) Total net paid losses (796.5) (696.2) Foreign currency translation (136.3) (19.5) Amounts acquired as a result of Sirius Group acquisition (1) — 2,467.8 Net reserves for loss and loss adjustment expenses, end of period 3,890.2 4,016.9 Plus: loss and loss adjustment expenses recoverable, end of period 1,309.2 843.5 Plus: deferred charges on retroactive reinsurance contracts (2) 1.1 1.9 Gross reserves for loss and loss adjustment expenses, end of period $ 5,200.5 $ 4,862.3 (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 nine months ended September 30, 2022, the Company recorded $17.2 million of net favorable prior year loss reserve development driven by favorable development due to loss reductions in COVID-19 and A&H reserves due to better than expected loss experience, with the most significant offsetting movements being reserve strengthening in direct Workers’ Compensation reserves based on reported loss emergence, and in the Property lines, driven by the current elevated level of inflation. For the nine months ended September 30, 2021 , the Company recorded $25.9 million of net favorable prior year loss reserve development. This was driven by net favorable loss reserve development of $27.0 million from the legacy Sirius Group companies, primarily due to better than expected loss reserve emergence in the Property lines, mainly on European-related exposures covering multiple accident years, of $15.6 million, and favorable loss reserve development in the A&H lines of $6.9 million.

Allowance for expected credit l

Allowance for expected credit losses	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021 are as follows: September 30, December 31, 2021 Insurance and reinsurance balances receivable, net $ 1,952.7 $ 1,708.2 Loss and loss adjustment expenses recoverable, net 1,309.2 1,215.3 Other assets (1) 43.2 14.5 Total assets in scope $ 3,305.1 $ 2,938.0 (1) Relates to MGA trade receivables (included in other assets in the Company’s consolidated balance sheets), loans receivables (included in other long-term investments in the Company’s consolidated balance sheets) and interest and dividend receivables. The Company’s allowance for expected credit losses was $31.5 million as of September 30, 2022 (December 31, 2021 - $21.6 million). For the three and nine months ended September 30, 2022, the Company recorded current expected credit (gains) losses of $(0.7) million and $10.0 million, respectively (2021 - $(0.3) million and $15.3 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	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Amount Effective rate (1) Amount Effective rate (1) 2017 SEK Subordinated Notes, at face value $ 247.7 5.1 % $ 303.1 4.1 % Unamortized discount (5.8) (6.8) 2017 SEK Subordinated Notes, carrying value 241.9 296.3 2016 Senior Notes, at face value 400.0 4.5 % 400.0 4.5 % Unamortized premium 5.5 6.0 2016 Senior Notes, carrying value 405.5 406.0 2015 Senior Notes, at face value 115.0 7.0 % 115.0 7.0 % Unamortized issuance costs (0.4) (0.6) 2015 Senior Notes, carrying value 114.6 114.4 Total debt $ 762.0 $ 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 September 30, 2022 and December 31, 2021. Standby letter of credit facilities As of September 30, 2022, the Company had entered into the following letter of credit facilities: September 30, 2022 Letters of Credit Collateral Committed Capacity Issued Cash and Cash Equivalents Debt securities Committed - Secured letters of credit facilities $ 330.0 $ 279.0 $ 20.2 $ 190.4 Uncommitted - Secured letters of credit facilities n/a 953.5 46.7 1,045.1 $ 1,232.5 $ 66.9 $ 1,235.5 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 In addition to the letter of credit facilities above, 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, effective February 26, 2021. 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 availa ble, subject to customary conditions precedent. As of September 30, 2022, there were no outstanding borrowings under the Facility.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2022, the Company recorded income tax (expense) benefit of $(0.9) million and $17.1 million, respectively (2021 - $13.0 million and $(6.4) million, respectively) on pre-tax income (loss) of $(92.7) million and $(380.1) million, respectively (2021 - $(60.4) million and $199.0 million, respectively). The effective tax rates for the three and nine months ended September 30, 2022 were (1.0)% and 4.5%, respectively. The difference between the effective tax rate on income (losses) from continuing operations and the Bermuda statutory tax rate of 0.0% is primarily because of losses 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 nine months ended September 30, 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. On August 16, 2022, the U.S. enacted the Inflation Reduction Act of 2022, which, among other things, implements a 15% minimum tax on book income of certain large corporations, a 1% excise tax on net stock repurchases and several tax incentives to promote clean energy. Based on our current analysis of these provisions, the Company does not believe this legislation will have a material impact on its income taxes. 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. As of September 30, 2022, the total reserve for unrecognized tax benefits is $2.5 million (December 31, 2021 - $10.7 million). The reduction in the reserve is attributable to a change in the technical merits of a transfer pricing issue. If the

Shareholders' equity

Shareholders' equity	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 1,078,208 3,185,798 Shares repurchased (695,047) — Options exercised — 220,000 Performance restricted shares granted, net of forfeitures and shares withheld — (1,464,532) Issuance of common shares for Sirius Group acquisition — 58,331,196 Issuance of common shares to related party — 6,093,842 Common shares issued and outstanding, end of period 162,312,938 161,949,037 The Company’s authorized share capital consists of 300,000,000 common shares with a par value of $0.10 each. During the nine months ended September 30, 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 and nine months ended September 30, 2022, the Company declared and paid dividends of $4.0 million and $12.0 million, respectively, to the Series B preference shareholders (2021 - $4.0 million and $8.1 million, respectively). 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 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 September 30, 2022, the Company did not repurchase any of its common shares in the open market. During the nine months ended September 30, 2022, the Company repurchased 695,047 of its common shares in the open market for $5.0 million at a weighted average cost, including commissions, of $7.17 per share. Common shares repurchased by the Company during the period were retired. As of September 30, 2022 the Company was authorized to repurchase up to an aggreg ate of $56.3 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	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Weighted-average number of common shares outstanding: Basic number of common shares outstanding 160,321,270 159,225,772 160,150,911 145,095,270 Dilutive effect of options — — — 196,414 Dilutive effect of warrants — — — 38,525 Dilutive effect of restricted share units — — — 1,252,639 Dilutive effect of Series A preference shares — 1,015,116 — 1,015,116 Diluted number of common shares outstanding 160,321,270 160,240,888 160,150,911 147,597,964 Basic earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (98.4) $ (48.0) $ (376.2) $ 184.9 Net income allocated to SiriusPoint participating common shareholders — — — (13.7) Net income (loss) allocated to SiriusPoint common shareholders $ (98.4) $ (48.0) $ (376.2) $ 171.2 Basic earnings (loss) per share available to SiriusPoint common shareholders $ (0.61) $ (0.30) $ (2.35) $ 1.18 Diluted earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (98.4) $ (48.0) $ (376.2) $ 184.9 Net income allocated to SiriusPoint participating common shareholders — — — (2.8) Change in carrying value of Series A preference shares — (7.2) — (9.6) Net income (loss) allocated to SiriusPoint common shareholders $ (98.4) $ (55.2) $ (376.2) $ 172.5 Diluted earnings (loss) per share available to SiriusPoint common shareholders $ (0.61) $ (0.34) $ (2.35) $ 1.17 For the three and nine months ended September 30, 2022, options of 3,684,094 and 4,030,922, respectively, and warrants of 31,123,755 and 31,123,755, respectively, were excluded from the computation of diluted loss per share available to SiriusPoint common shareholders. For the three and nine months ended September 30, 2021, options of 10,808,025 and 4,487,807, respectively, warrants of 34,618,734 and 31,123,755, respectively, and Upside Rights of 10,000,000 and 10,000,000, respectively, were excluded from the computation of diluted earnings per share available to SiriusPoint common shareholders.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related party transactions	18. Related party transactions In addition to the transactions disclosed in Notes 7 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 $144.9 million and $262.9 million during the three and nine months ended September 30, 2022, respectively ( 2021 - $69.3 million and $151.3 million, respectively) . As of September 30, 2022, the Company had total receivables from affiliates of $224.6 million and payables of $0.1 million (2021 - $65.3 million receivables and no payables). Unfunded commitments in Third Point Venture Offshore Fund II LP On June 30, 2022, SiriusPoint Bermuda entered into the Amended and Restated Exempted Limited Partnership Agreement (“2022 Venture II LPA”) of Third Point Venture Offshore Fund II LP (“TP Venture Fund II”). In accordance with the 2022 Venture II LPA, Third Point Venture GP II LLC (“TP Venture GP II”) serves as the general partner of TP Venture Fund II. As of September 30, 2022, the Company has not funded the investment and has $25.0 million of unfunded commitments related to TP Venture Fund II. Investments managed by related parties The following table provides the fair value of the Company's investments managed by related parties as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Third Point Enhanced LP $ 280.3 $ 878.2 Third Point Venture Offshore Fund I LP 28.7 31.4 Investments in related party investment funds, at fair value 309.0 909.6 Third Point Optimized Credit Portfolio (1) 500.7 — Total investments managed by related parties $ 809.7 $ 909.6 (1) The Third Point Optimized Credit Portfolio is reported in debt securities available for sale and trading in the consolidated balance sheets. As of September 30, 2022 , $350.0 million of withdrawals from the TP Enhanced Fund remain to be reinvested in, or contractually committed to, the TPOC Portfolio or other Third Point strategies, pursuant to the 2022 LPA. Management, advisory and performance fees to related parties The total management, advisory and performance fees to related parties for the three and nine months ended September 30, 2022 and 2021 were as follows: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Management and advisory fees $ 0.9 $ 5.3 $ 6.1 $ 14.1 Performance fees — 50.3 (1.3) 99.7 Total management, advisory and performance fees to related parties $ 0.9 $ 55.6 $ 4.8 $ 113.8 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 Venture Offshore Fund II LP Pursuant to the 2022 Venture II LPA, m anagement fees are charged at the TP Venture Fund II level and are calculated based on 0.1875% per quarter (0.75% per annum). Third Point Insurance Portfolio Solutions and Third Point Optimized Credit 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 ). On February 23, 2022, the Company entered into the 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 Venture Offshore Fund II LP Pursuant to the 2022 Venture II LPA, TP Venture GP II 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 “Net investment income” on the Company’s consolidated statements of income (loss) .

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 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 annum. No amounts were drawn as of September 30, 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. In the three and nine months ended September 30, 2022, $0.8 million of unsecured promissory notes were issued by Joyn to the Company. 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 processes, which may include arbitration or litigation, the outcomes of which determine the rights and obligations under the Company’s reinsurance and insurance 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 processes that do not arise from, or are not directly related to, claims activity. The Company believes that no individual litigation or arbitration to which it is presently a party is likely to have a material adverse effect on its results of operations, financial condition, business or operations. 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 and nine months ended September 30, 2022, the Company recognized operating lease expense of $2.9 million and $8.6 million, respectively (2021 - $3.1 million and $7.6 million, respectively), including property taxes and routine maintenance expense as well as rental expenses related to short term leases. The following table presents the lease balances within the consolidated balance sheets as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Operating lease right-of-use assets (1) $ 19.8 $ 27.4 Operating lease liabilities (2) $ 24.6 $ 32.5 Weighted average lease term (years) 5.0 5.0 Weighted average discount rate 2.2 % 2.4 % (1) Operating lease right-of-use assets are included in other assets . (2) Operating lease liabilities are included in accounts payable, accrued expenses and other liabilities on the Company’s consolidated balance sheets . Future minimum rental commitments as of September 30, 2022 under these leases are expected to be as follows: Future Payments Remainder of 2022 $ 2.6 2023 7.7 2024 4.4 2025 3.1 2026 and thereafter 8.0 Total future annual minimum rental payments 25.8 Less: present value discount (1.2) Total lease liability as of September 30, 2022 $ 24.6 The above table does not include future minimum rental commitments of one material lease that has not yet commenced as of September 30, 2022. The minimum rental commitment under this lease is approximately $9.4 million.

Subsequent event

Subsequent event	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent event	20. Subsequent event Restructuring and Transformation Plan On November 2, 2022, the Company announced that it is restructuring its underwriting platform to support the future shape of its business. As part of its ongoing strategy to strengthen underwriting results and align the Company’s operating platform to its business portfolio, the Company will be making changes to the structure and composition of its international branch network (the "Restructuring Plan"). The Company will reduce the locations from which it underwrites property catastrophe reinsurance. As a result, the Company will close its offices in Hamburg, Miami and Singapore, and reduce its footprint in Liege and Toronto. Following the anticipated closures and scaling of its operating platform, the Company will continue to serve clients and underwrite North American property catastrophe business from Bermuda, and international property catastrophe business from Stockholm. The Company's initial estimate is that it will incur approximately $30.0 million to $35.0 million of total costs, primarily in the fourth quarter of 2022, to implement the Restructuring Plan.

Significant accounting polici_2

Significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Debt securities available for sale	The Company has elected to classify debt securities, other than short-term investments, purchased on or after April 1, 2022 as available for sale (“AFS”). These securities are held at fair value, net of an allowance for credit losses. Any decline in fair value related to AFS debt securities that is believed to arise from factors other than credit is recorded as a separate component of accumulated other comprehensive income (loss) in the consolidated statement of shareholders’ equity.
Recently issued accounting standards	In June 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). The amendment clarifies the guidance in Topic 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and requires specific disclosures related to such an equity security. This new pronouncement is not expected to have a material impact on the Company’s consolidated financial statements.

Acquisition of Sirius Group (Ta

Acquisition of Sirius Group (Tables)	9 Months Ended
	Sep. 30, 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 that have been included in the Company's consolidated statement of income for the nine months ended September 30, 2021 : For the period from February 26, 2021 to September 30, 2021 Total revenues $ 933.4 Net loss $ (161.5) The following table presents unaudited pro forma consolidated financial information for the three and nine months ended September 30, 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 Nine months ended September 30, 2021 September 30, 2021 Total revenues $ 732.6 $ 1,958.8 Net income (loss) $ (47.8) $ 187.7

Segment reporting (Tables)

Segment reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of operating segment results	The following is a summary of the Company’s operating segment results for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, 2022 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 318.4 $ 524.9 $ 843.3 $ — $ 0.5 $ — $ 843.8 Net premiums written 267.1 366.7 633.8 — 0.6 — 634.4 Net premiums earned 304.5 305.4 609.9 — 2.7 — 612.6 Loss and loss adjustment expenses incurred, net 286.3 217.8 504.1 (1.5) (4.7) — 497.9 Acquisition costs, net 69.8 81.0 150.8 (34.0) — — 116.8 Other underwriting expenses 28.0 15.3 43.3 — 1.5 — 44.8 Underwriting income (loss) (79.6) (8.7) (88.3) 35.5 5.9 — (46.9) Services revenue 3.4 52.5 55.9 (35.4) — (20.5) — Services expenses — 47.2 47.2 — — (47.2) — Net services fee income 3.4 5.3 8.7 (35.4) — 26.7 — Services noncontrolling loss — 0.5 0.5 — — (0.5) — Net investment gains from Strategic Investments 0.3 3.4 3.7 — — (3.7) — Net services income 3.7 9.2 12.9 (35.4) — 22.5 — Segment income (loss) (75.9) 0.5 (75.4) 0.1 5.9 22.5 (46.9) Net realized and unrealized investment gains (losses) (59.8) 3.7 (56.1) Net realized and unrealized investment losses from related party investment funds (8.3) — (8.3) Net investment income 36.2 — 36.2 Other revenues (7.4) 20.5 13.1 Net corporate and other expenses (23.6) (47.2) (70.8) Intangible asset amortization (2.1) — (2.1) Interest expense (9.4) — (9.4) Foreign exchange gains 51.6 — 51.6 Income (loss) before income tax expense $ (75.9) $ 0.5 (75.4) 0.1 (16.9) (0.5) (92.7) Income tax expense — — (0.9) — (0.9) Net loss (75.4) 0.1 (17.8) (0.5) (93.6) Net income attributable to noncontrolling interest — — (1.3) 0.5 (0.8) Net loss attributable to SiriusPoint $ (75.4) $ 0.1 $ (19.1) $ — $ (94.4) Underwriting Ratios: (1) Loss ratio 94.0 % 71.3 % 82.7 % 81.3 % Acquisition cost ratio 22.9 % 26.5 % 24.7 % 19.1 % Other underwriting expenses ratio 9.2 % 5.0 % 7.1 % 7.3 % Combined ratio 126.1 % 102.8 % 114.5 % 107.7 % (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 September 30, 2021 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 395.3 $ 240.6 $ 635.9 $ — $ 5.3 $ — $ 641.2 Net premiums written 289.6 183.9 473.5 — 5.3 — 478.8 Net premiums earned 326.4 160.6 487.0 — 12.6 — 499.6 Loss and loss adjustment expenses incurred, net 471.5 91.0 562.5 (0.8) 15.6 — 577.3 Acquisition costs, net 85.4 41.8 127.2 (21.4) 1.1 — 106.9 Other underwriting expenses 32.1 9.8 41.9 — 11.4 — 53.3 Underwriting income (loss) (262.6) 18.0 (244.6) 22.2 (15.5) — (237.9) Services revenue — 37.8 37.8 (25.3) — (12.5) — Services expenses — 40.4 40.4 — — (40.4) — Net services fee loss — (2.6) (2.6) (25.3) — 27.9 — Services noncontrolling loss — 3.4 3.4 — — (3.4) — Net services income — 0.8 0.8 (25.3) — 24.5 — Segment income (loss) (262.6) 18.8 (243.8) (3.1) (15.5) 24.5 (237.9) Net realized and unrealized investment losses (11.7) — (11.7) Net realized and unrealized investment gains from related party investment funds 202.4 — 202.4 Net investment income 9.1 — 9.1 Other revenues 20.7 12.5 33.2 Net corporate and other expenses (19.5) (40.4) (59.9) Intangible asset amortization (2.0) — (2.0) Interest expense (9.7) — (9.7) Foreign exchange gains 16.1 — 16.1 Income (loss) before income tax benefit $ (262.6) $ 18.8 (243.8) (3.1) 189.9 (3.4) (60.4) Income tax benefit — — 13.0 — 13.0 Net income (loss) (243.8) (3.1) 202.9 (3.4) (47.4) Net loss attributable to noncontrolling interest — — — 3.4 3.4 Net income (loss) available to SiriusPoint $ (243.8) $ (3.1) $ 202.9 $ — $ (44.0) Underwriting Ratios: (1) Loss ratio 144.5 % 56.7 % 115.5 % 115.6 % Acquisition cost ratio 26.2 % 26.0 % 26.1 % 21.4 % Other underwriting expenses ratio 9.8 % 6.1 % 8.6 % 10.7 % Combined ratio 180.5 % 88.8 % 150.2 % 147.7 % (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. Nine months ended September 30, 2022 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 1,220.9 $ 1,442.3 $ 2,663.2 $ — $ 2.9 $ — $ 2,666.1 Net premiums written 963.5 1,005.6 1,969.1 — 2.2 — 1,971.3 Net premiums earned 931.6 762.5 1,694.1 — 16.6 — 1,710.7 Loss and loss adjustment expenses incurred, net 685.5 506.6 1,192.1 (3.8) 10.0 — 1,198.3 Acquisition costs, net 236.0 198.4 434.4 (86.4) 0.9 — 348.9 Other underwriting expenses 86.8 46.8 133.6 — 4.5 — 138.1 Underwriting income (loss) (76.7) 10.7 (66.0) 90.2 1.2 — 25.4 Services revenue 3.4 165.9 169.3 (102.9) — (66.4) — Services expenses — 135.3 135.3 — — (135.3) — Net services fee income 3.4 30.6 34.0 (102.9) — 68.9 — Services noncontrolling loss — 0.6 0.6 — — (0.6) — Net investment gains from Strategic Investments 0.3 2.6 2.9 — — (2.9) — Net services income 3.7 33.8 37.5 (102.9) — 65.4 — Segment income (loss) (73.0) 44.5 (28.5) (12.7) 1.2 65.4 25.4 Net realized and unrealized investment gains (losses) (239.3) 2.9 (236.4) Net realized and unrealized investment losses from related party investment funds (199.8) — (199.8) Net investment income 61.4 — 61.4 Other revenues 29.7 66.4 96.1 Net corporate and other expenses (84.9) (135.3) (220.2) Intangible asset amortization (6.0) — (6.0) Interest expense (28.1) — (28.1) Foreign exchange gains 127.5 — 127.5 Income (loss) before income tax benefit $ (73.0) $ 44.5 (28.5) (12.7) (338.3) (0.6) (380.1) Income tax benefit — — 17.1 — 17.1 Net loss (28.5) (12.7) (321.2) (0.6) (363.0) Net income attributable to noncontrolling interests — — (1.8) 0.6 (1.2) Net loss attributable to SiriusPoint $ (28.5) $ (12.7) $ (323.0) $ — $ (364.2) Underwriting Ratios: (1) Loss ratio 73.6 % 66.4 % 70.4 % 70.0 % Acquisition cost ratio 25.3 % 26.0 % 25.6 % 20.4 % Other underwriting expenses ratio 9.3 % 6.1 % 7.9 % 8.1 % Combined ratio 108.2 % 98.5 % 103.9 % 98.5 % (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. Nine months ended September 30, 2021 Reinsurance Insurance & Services Core Eliminations (2) Corporate Segment Measure Reclass Total Gross premiums written $ 931.6 $ 628.0 $ 1,559.6 $ — $ (13.9) $ — $ 1,545.7 Net premiums written 773.8 468.5 1,242.3 — (19.0) — 1,223.3 Net premiums earned 862.8 334.7 1,197.5 — (0.4) — 1,197.1 Loss and loss adjustment expenses incurred, net 773.7 198.6 972.3 (1.7) 4.5 — 975.1 Acquisition costs, net 224.1 97.6 321.7 (42.5) 2.3 — 281.5 Other underwriting expenses 82.6 19.0 101.6 — 19.0 — 120.6 Underwriting income (loss) (217.6) 19.5 (198.1) 44.2 (26.2) — (180.1) Services revenue — 89.9 89.9 (52.6) — (37.3) — Services expenses — 81.0 81.0 — — (81.0) — Net services fee income — 8.9 8.9 (52.6) — 43.7 — Services noncontrolling loss — 1.8 1.8 — — (1.8) — Net investment gains from Strategic Investments 0.3 41.3 41.6 — — (41.6) — Net services income 0.3 52.0 52.3 (52.6) — 0.3 — Segment income (loss) (217.3) 71.5 (145.8) (8.4) (26.2) 0.3 (180.1) Net realized and unrealized investment gains 2.1 41.6 43.7 Net realized and unrealized investment gains from related party investment funds 401.2 — 401.2 Net investment income 18.8 — 18.8 Other revenues 84.6 37.3 121.9 Net corporate and other expenses (113.5) (81.0) (194.5) Intangible asset amortization (4.1) — (4.1) Interest expense (24.4) — (24.4) Foreign exchange gains 16.5 — 16.5 Income (loss) before income tax expense $ (217.3) $ 71.5 (145.8) (8.4) 355.0 (1.8) 199.0 Income tax expense — — (6.4) — (6.4) Net income (loss) (145.8) (8.4) 348.6 (1.8) 192.6 Net loss attributable to noncontrolling interests — — — 1.8 1.8 Net income (loss) available to SiriusPoint $ (145.8) $ (8.4) $ 348.6 $ — $ 194.4 Underwriting Ratios: (1) Loss ratio 89.7 % 59.3 % 81.2 % 81.5 % Acquisition cost ratio 26.0 % 29.2 % 26.9 % 23.5 % Other underwriting expenses ratio 9.6 % 5.7 % 8.5 % 10.1 % Combined ratio 125.3 % 94.2 % 116.6 % 115.1 % (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)	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Cash and cash equivalents $ 647.3 $ 999.8 Restricted cash securing letter of credit facilities (1) 66.9 500.2 Restricted cash securing reinsurance contracts (2) 55.7 431.8 Restricted cash held by managing general underwriters 21.6 16.6 Total cash, cash equivalents and restricted cash (3) 791.5 1,948.4 Restricted investments securing reinsurance contracts and letter of credit facilities (1) (2) (4) 2,076.8 1,107.0 Total cash, cash equivalents, restricted cash and restricted investments $ 2,868.3 $ 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Cash and cash equivalents $ 647.3 $ 999.8 Restricted cash securing letter of credit facilities (1) 66.9 500.2 Restricted cash securing reinsurance contracts (2) 55.7 431.8 Restricted cash held by managing general underwriters 21.6 16.6 Total cash, cash equivalents and restricted cash (3) 791.5 1,948.4 Restricted investments securing reinsurance contracts and letter of credit facilities (1) (2) (4) 2,076.8 1,107.0 Total cash, cash equivalents, restricted cash and restricted investments $ 2,868.3 $ 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)	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, 2022 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) Assets Asset-backed securities $ — $ 642.0 $ — $ 642.0 Residential mortgage-backed securities — 141.2 — 141.2 Commercial mortgage-backed securities — 117.0 — 117.0 Corporate debt securities — 404.4 — 404.4 U.S. government and government agency 286.1 11.0 — 297.1 Non-U.S. government and government agency 8.9 83.3 — 92.2 Preferred stocks — — 3.2 3.2 Total debt securities, trading 295.0 1,398.9 3.2 1,697.1 Asset-backed securities — 133.9 — 133.9 Residential mortgage-backed securities — 212.8 — 212.8 Commercial mortgage-backed securities — 18.6 — 18.6 Corporate debt securities — 386.0 — 386.0 U.S. government and government agency 552.3 — — 552.3 Non-U.S. government and government agency 3.8 16.6 — 20.4 Total debt securities, available for sale 556.1 767.9 — 1,324.0 Fixed income mutual funds 1.3 — — 1.3 Common stocks 0.1 — — 0.1 Total equity securities 1.4 — — 1.4 Short-term investments 1,844.6 147.0 — 1,991.6 Other long-term investments — — 324.8 324.8 Derivative assets — — 3.1 3.1 $ 2,697.1 $ 2,313.8 $ 331.1 5,342.0 Investments in funds valued at NAV 399.1 Total assets $ 5,741.1 Liabilities Total securities sold, not yet purchased $ 41.7 $ — $ — $ 41.7 Securities sold under an agreement to repurchase — 17.3 — 17.3 Liability-classified capital instruments — 48.9 — 48.9 Derivative liabilities — — 1.5 1.5 Total liabilities $ 41.7 $ 66.2 $ 1.5 $ 109.4 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, trading 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 at fair value using Level 3 inputs for the three and nine months ended September 30, 2022: July 1, 2022 Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) Change in Unrealized Gains (Losses) in OCI September 30, Assets Preferred stocks $ 3.2 $ — $ — $ — $ — $ — $ 3.2 Other long-term investments 318.1 — 8.9 (6.7) 4.5 — 324.8 Derivative assets (2.4) — — (0.2) (0.3) — (2.9) Total assets $ 318.9 $ — $ 8.9 $ (6.9) $ 4.2 $ — $ 325.1 Liabilities Liability-classified capital instruments $ (10.7) $ — $ — $ — $ 3.4 $ — $ (7.3) Derivative liabilities (5.0) — (7.8) — (5.7) — (18.5) Total liabilities $ (15.7) $ — $ (7.8) $ — $ (2.3) $ — $ (25.8) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) Change in Unrealized Gains (Losses) in OCI September 30, Assets Preferred stocks $ 2.8 $ — $ — $ — $ 0.4 $ — $ 3.2 Other long-term investments 336.9 (40.6) 62.9 (33.0) (1.4) — 324.8 Derivative assets 0.4 — 0.6 (2.8) (1.1) — (2.9) Total assets $ 340.1 $ (40.6) $ 63.5 $ (35.8) $ (2.1) $ — $ 325.1 Liabilities Liability-classified capital instruments $ (57.2) $ — $ — $ — $ 49.9 $ — $ (7.3) Derivative liabilities (3.2) — (4.7) — (10.6) — (18.5) Total liabilities $ (60.4) $ — $ (4.7) $ — $ 39.3 $ — $ (25.8) (1) 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 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). The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three and nine months ended September 30, 2021: July 1, 2021 Transfers in to (out of) Level 3 Purchases Assets Acquired Sales Realized and Unrealized Gains (Losses) (1) September 30, Assets Preferred stocks $ 12.8 $ — $ 10.0 $ — $ — $ — $ 22.8 Other long-term investments 322.1 — 7.0 — (3.5) 2.5 328.1 Derivative assets 5.2 (0.7) — — — (2.0) 2.5 Loan participations 36.5 — 5.2 — (42.7) 1.0 — Total assets $ 376.6 $ (0.7) $ 22.2 $ — $ (46.2) $ 1.5 $ 353.4 Liabilities Liability-classified capital instruments $ (99.3) $ — $ — $ — $ — $ 22.0 $ (77.3) Contingent consideration (1.5) — — — 1.9 (0.4) — Derivative liabilities (3.7) 0.7 (0.1) — — 0.3 (2.8) Total liabilities $ (104.5) $ 0.7 $ (0.1) $ — $ 1.9 $ 21.9 $ (80.1) January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired Sales Realized and Unrealized Gains (Losses) (1) September 30, Assets Preferred stocks $ — $ — $ 20.0 $ 2.8 $ — $ — $ 22.8 Other long-term investments 4.0 — 34.7 259.0 (9.4) 39.8 328.1 Derivative assets 1.2 (1.2) — 0.3 — 2.2 2.5 Loan participations — — 9.0 32.8 (42.8) 1.0 — Total assets $ 5.2 $ (1.2) $ 63.7 $ 294.9 $ (52.2) $ 43.0 $ 353.4 Liabilities Liability-classified capital instruments $ — $ 27.0 $ (137.6) $ — $ — $ 33.3 $ (77.3) Contingent consideration liabilities — — — (0.7) 1.9 (1.2) — Derivative liabilities (1.0) 1.2 (0.4) (2.0) — (0.6) (2.8) Total liabilities $ (1.0) $ 28.2 $ (138.0) $ (2.7) $ 1.9 $ 31.5 $ (80.1) (1) 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 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 at fair value using Level 3 inputs for the three and nine months ended September 30, 2022: July 1, 2022 Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) Change in Unrealized Gains (Losses) in OCI September 30, Assets Preferred stocks $ 3.2 $ — $ — $ — $ — $ — $ 3.2 Other long-term investments 318.1 — 8.9 (6.7) 4.5 — 324.8 Derivative assets (2.4) — — (0.2) (0.3) — (2.9) Total assets $ 318.9 $ — $ 8.9 $ (6.9) $ 4.2 $ — $ 325.1 Liabilities Liability-classified capital instruments $ (10.7) $ — $ — $ — $ 3.4 $ — $ (7.3) Derivative liabilities (5.0) — (7.8) — (5.7) — (18.5) Total liabilities $ (15.7) $ — $ (7.8) $ — $ (2.3) $ — $ (25.8) January 1, Transfers in to (out of) Level 3 Purchases Sales Realized and Unrealized Gains (Losses) (1) Change in Unrealized Gains (Losses) in OCI September 30, Assets Preferred stocks $ 2.8 $ — $ — $ — $ 0.4 $ — $ 3.2 Other long-term investments 336.9 (40.6) 62.9 (33.0) (1.4) — 324.8 Derivative assets 0.4 — 0.6 (2.8) (1.1) — (2.9) Total assets $ 340.1 $ (40.6) $ 63.5 $ (35.8) $ (2.1) $ — $ 325.1 Liabilities Liability-classified capital instruments $ (57.2) $ — $ — $ — $ 49.9 $ — $ (7.3) Derivative liabilities (3.2) — (4.7) — (10.6) — (18.5) Total liabilities $ (60.4) $ — $ (4.7) $ — $ 39.3 $ — $ (25.8) (1) 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 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). The following table presents the reconciliation of all investments measured at fair value using Level 3 inputs for the three and nine months ended September 30, 2021: July 1, 2021 Transfers in to (out of) Level 3 Purchases Assets Acquired Sales Realized and Unrealized Gains (Losses) (1) September 30, Assets Preferred stocks $ 12.8 $ — $ 10.0 $ — $ — $ — $ 22.8 Other long-term investments 322.1 — 7.0 — (3.5) 2.5 328.1 Derivative assets 5.2 (0.7) — — — (2.0) 2.5 Loan participations 36.5 — 5.2 — (42.7) 1.0 — Total assets $ 376.6 $ (0.7) $ 22.2 $ — $ (46.2) $ 1.5 $ 353.4 Liabilities Liability-classified capital instruments $ (99.3) $ — $ — $ — $ — $ 22.0 $ (77.3) Contingent consideration (1.5) — — — 1.9 (0.4) — Derivative liabilities (3.7) 0.7 (0.1) — — 0.3 (2.8) Total liabilities $ (104.5) $ 0.7 $ (0.1) $ — $ 1.9 $ 21.9 $ (80.1) January 1, Transfers in to (out of) Level 3 Purchases Assets Acquired Sales Realized and Unrealized Gains (Losses) (1) September 30, Assets Preferred stocks $ — $ — $ 20.0 $ 2.8 $ — $ — $ 22.8 Other long-term investments 4.0 — 34.7 259.0 (9.4) 39.8 328.1 Derivative assets 1.2 (1.2) — 0.3 — 2.2 2.5 Loan participations — — 9.0 32.8 (42.8) 1.0 — Total assets $ 5.2 $ (1.2) $ 63.7 $ 294.9 $ (52.2) $ 43.0 $ 353.4 Liabilities Liability-classified capital instruments $ — $ 27.0 $ (137.6) $ — $ — $ 33.3 $ (77.3) Contingent consideration liabilities — — — (0.7) 1.9 (1.2) — Derivative liabilities (1.0) 1.2 (0.4) (2.0) — (0.6) (2.8) Total liabilities $ (1.0) $ 28.2 $ (138.0) $ (2.7) $ 1.9 $ 31.5 $ (80.1) (1) 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 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 September 30, 2022 and December 31, 2021. The fair values of the below financial instruments are based on observable inputs and are considered Level 2 measurements. September 30, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value 2017 SEK Subordinated Notes $ 242.7 $ 241.9 $ 302.3 $ 296.3 2016 Senior Notes 344.0 405.5 412.8 406.0 2015 Senior Notes 112.1 114.6 120.5 114.4 Series B preference shares $ 188.8 $ 200.0 $ 220.9 $ 200.0

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, 2022 Cost or Gross Gross unrealized losses (2) Net foreign Fair value Debt securities, trading Asset-backed securities $ 667.8 $ — $ (25.8) $ — $ 642.0 Residential mortgage-backed securities 162.7 — (21.5) — 141.2 Commercial mortgage-backed securities 133.2 — (16.2) — 117.0 Corporate debt securities 439.4 — (30.9) (4.1) 404.4 U.S. government and government agency (1) 306.8 — (9.7) — 297.1 Non-U.S. government and government agency 99.2 — (2.2) (4.8) 92.2 Preferred stocks 2.4 0.8 — — 3.2 Total debt securities, trading $ 1,811.5 $ 0.8 $ (106.3) $ (8.9) $ 1,697.1 Debt securities, available for sale Asset-backed securities $ 137.8 $ — $ (3.9) $ — $ 133.9 Residential mortgage-backed securities 223.0 — (10.2) — 212.8 Commercial mortgage-backed securities 19.3 — (0.7) — 18.6 Corporate debt securities 405.3 0.1 (17.4) (2.0) 386.0 U.S. government and government agency (1) 564.7 — (12.4) — 552.3 Non-U.S. government and government agency 21.7 — (0.5) (0.8) 20.4 Total debt securities, available for sale (3) $ 1,371.8 $ 0.1 $ (45.1) $ (2.8) $ 1,324.0 (1) The Company had $41.7 million of short positions in long duration U.S. Treasuries as of September 30, 2022. These amounts are included in securities sold, not yet purchased, at fair value, in the consolidated balance sheets. (2) As of September 30, 2022, all debt securities classified as available for sale that are in a gross unrealized loss position have been in a gross unrealized loss position for less than 12 months. (3) As of September 30, 2022, the Company did not record an allowance for credit losses on the AFS portfolio. 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, trading (2) $ 2,099.3 $ 2.7 $ (15.6) $ (0.8) $ 2,085.6 (1) The Company had no short positions in long duration U.S. Treasuries as of December 31, 2021. (2) As of December 31, 2021, there were no debt securities classified as available for sale.
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 bifurcated into debt securities held for trading (“trading”) and AFS as of September 30, 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. September 30, 2022 December 31, 2021 Debt securities, trading Debt securities, AFS Debt securities, trading Cost or Fair value Cost or Fair value Cost or Fair value Due in one year or less $ 229.3 $ 223.5 $ 34.9 $ 33.6 $ 145.6 $ 145.1 Due after one year through five years 492.6 467.5 866.3 841.2 870.4 862.4 Due after five years through ten years 68.1 58.0 81.7 76.0 69.6 68.6 Due after ten years 55.4 44.6 8.8 7.8 43.6 44.4 Mortgage-backed and asset-backed securities 963.7 900.3 380.1 365.4 967.5 962.3 Preferred stocks 2.4 3.2 — — 2.6 2.8 Total debt securities (1) $ 1,811.5 $ 1,697.1 $ 1,371.8 $ 1,324.0 $ 2,099.3 $ 2,085.6 (1) As of December 31, 2021, there were no debt securities classified as available for sale.
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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Debt securities, trading Debt securities, AFS Debt securities, trading AAA $ 633.0 $ 126.5 $ 696.4 AA 571.8 803.9 884.1 A 196.9 166.8 278.5 BBB 187.3 146.6 153.1 Other 108.1 80.2 73.5 Total debt securities (1)(2) $ 1,697.1 $ 1,324.0 $ 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. (2) As of December 31, 2021, there were no debt securities classified as available for sale.
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 September 30, 2022 and December 31, 2021, were as follows: Cost or Gross Gross Net foreign Fair value September 30, 2022 Equity securities $ 1.7 $ — $ (0.4) $ 0.1 $ 1.4 Other long-term investments $ 407.8 $ 29.8 $ (25.6) $ 2.9 $ 414.9 December 31, 2021 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Fixed income mutual funds $ 1.3 $ 2.1 Common stocks 0.1 0.7 Total equity securities $ 1.4 $ 2.8 The carrying value of other long-term investments as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Hedge funds and private equity funds (1) $ 106.2 $ 195.7 Strategic Investments (2) 258.3 215.3 Limited liability companies and private equity securities (2) 50.4 45.1 Total other long-term investments $ 414.9 $ 456.1 (1) Includ es $85.1 million of investments carried at NAV (December 31, 2021 - $115.2 million) and $21.1 million of investments classified as Level 3 ( December 31, 2021 - $80.5 million) within the fair value hierarchy. (2) As of September 30, 2022, the Company had $9.8 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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Fair value Unfunded Fair value Unfunded Hedge funds Long/short multi-sector $ 8.4 $ — $ 19.8 $ — Distressed mortgage credit — — 24.6 — Private credit 23.9 — 24.2 — Other 0.2 — 1.7 — Total hedge funds 32.5 — 70.3 — Private equity funds Energy infrastructure & services 32.1 5.2 48.4 19.0 Multi-sector 6.0 4.8 10.1 5.1 Healthcare 16.0 0.3 31.0 2.2 Life settlement 14.1 — 12.9 — Manufacturing/Industrial — — 19.9 — Private equity secondaries 0.5 0.4 0.5 0.4 Other 5.0 — 2.6 — Total private equity funds 73.7 10.7 125.4 26.7 Total hedge and private equity funds included in other long-term investments $ 106.2 $ 10.7 $ 195.7 $ 26.7 (1) The 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.
Schedule of other long-term investments subject to restrictions	The following summarizes the September 30, 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 $ 8.4 $ — $ — $ 8.5 Semi-annual — — 0.1 — — 0.1 Annual — — — 0.1 23.8 23.9 Total $ — $ 0.1 $ 8.5 $ 0.1 $ 23.8 $ 32.5 As of September 30, 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 $ 41.5 $ 16.0 $ 16.2 $ 73.7
Schedule of investments in related party investment funds	The following table provides the fair value of the Company's investments in related party investment funds as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Third Point Enhanced LP $ 280.3 $ 878.2 Third Point Venture Offshore Fund I LP 28.7 31.4 Investments in related party investment funds, at fair value $ 309.0 $ 909.6

Total realized and unrealized_2

Total realized and unrealized investment gains (losses) and net investment income (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of total realized and unrealized investment gains (losses) and net investment income	Total realized and unrealized investment gains (losses) and net investment income for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading $ (21.2) $ 2.4 $ (141.4) $ 12.6 Debt securities, available for sale 12.5 — 15.4 — Short-term investments (6.1) (5.6) (8.7) (4.2) Other long-term investments 7.1 11.5 5.5 73.4 Equity securities (0.1) (1.4) (0.5) (1.4) Net realized and unrealized investment gains (losses) from related party investment funds (8.3) 202.4 (199.8) 401.2 Realized and unrealized investment gains (losses) and net investment income before other investment expenses and investment loss on cash and cash equivalents (16.1) 209.3 (329.5) 481.6 Other investment expenses (6.9) (7.8) (14.5) (12.3) Net investment loss on cash and cash equivalents (5.2) (1.7) (30.8) (5.6) Total realized and unrealized investment gains (losses) and net investment income $ (28.2) $ 199.8 $ (374.8) $ 463.7
Schedule of net realized investment gains (losses)	Net realized and unrealized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Gross realized gains $ 23.6 $ 8.3 $ 47.0 $ 32.8 Gross realized losses (45.9) (2.6) (107.1) (9.8) Net realized gains (losses) on investments (22.3) 5.7 (60.1) 23.0 Net unrealized gains (losses) on investments (33.8) (17.4) (176.3) 20.7 Net realized and unrealized gains (losses) on investments (1) (2) $ (56.1) $ (11.7) $ (236.4) $ 43.7 (1) Excludes realized and unrealized gains (losses) on the Company’s investments in related party investment funds and unrealized gains (losses) from available for sale investments, net of tax. (2) Includes net realized and unrealized gains of $0.2 million and $1.0 million from affiliated investments included in other long-term investments for the three and nine months ended September 30, 2022, respectively (2021 - $5.1 million and $49.4 million, respectively). Net realized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading $ (29.6) $ 5.3 $ (51.8) $ 13.3 Debt securities, available for sale 1.8 — 2.0 — Short-term investments (0.4) (1.6) (0.5) (1.6) Equity securities — — (2.3) — Other long-term investments 5.0 1.2 3.2 11.8 Net investment income (loss) on cash and cash equivalents 0.9 0.8 (10.7) (0.5) Net realized investment gains (losses) (1) $ (22.3) $ 5.7 $ (60.1) $ 23.0 (1) Includes realized gains (losses) due to foreign currency of $(22.3) million and $(35.0) million for the three and nine months ended September 30, 2022, respectively (2021 - $2.6 million and $1.1 million, respectively).
Schedule of net unrealized investment gains (losses)	Net realized and unrealized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Gross realized gains $ 23.6 $ 8.3 $ 47.0 $ 32.8 Gross realized losses (45.9) (2.6) (107.1) (9.8) Net realized gains (losses) on investments (22.3) 5.7 (60.1) 23.0 Net unrealized gains (losses) on investments (33.8) (17.4) (176.3) 20.7 Net realized and unrealized gains (losses) on investments (1) (2) $ (56.1) $ (11.7) $ (236.4) $ 43.7 (1) Excludes realized and unrealized gains (losses) on the Company’s investments in related party investment funds and unrealized gains (losses) from available for sale investments, net of tax. (2) Includes net realized and unrealized gains of $0.2 million and $1.0 million from affiliated investments included in other long-term investments for the three and nine months ended September 30, 2022, respectively (2021 - $5.1 million and $49.4 million, respectively). Net unrealized investment gains (losses) for the three and nine months ended September 30, 2022 and 2021 consisted of the following: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading (1) $ (7.5) $ (15.2) $ (128.6) $ (23.4) Short-term investments (14.3) (6.8) (18.9) (6.3) Equity securities (0.1) (1.4) 1.7 (1.3) Other long-term investments (2.3) 4.9 (5.1) 54.0 Net investment income (loss) on cash and cash equivalents (9.6) 1.1 (25.4) (2.4) Net unrealized investment gains (losses) (2) $ (33.8) $ (17.4) $ (176.3) $ 20.7 (1) Includes unrealized losses excluding foreign currency, of $(1.1) million and $(105.0) million for the three and nine months ended September 30, 2022, respectively (2021 - $(5.5) million and $(9.3) million, respectively). (2) Includes unrealized losses due to foreign currency of $(23.3) million and $(51.5) million for the three and nine months ended September 30, 2022, respectively (2021 - $(11.2) million and $(17.4) million, respectively). The following table summarizes the amount of total gains included in earnings attributable to unrealized investment gains – Level 3 investments for the three and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Debt securities, trading $ 0.1 $ — $ 0.6 $ — Other long-term investments 2.6 2.0 0.3 40.3 Total unrealized investment gains – Level 3 investments $ 2.7 $ 2.0 $ 0.9 $ 40.3

Investments in unconsolidated_2

Investments in unconsolidated entities (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Equity method eligible unconsolidated entities, using the fair value option (1) (3) $ 211.5 $ 225.3 Equity method investments 22.6 26.7 Other unconsolidated investments, at fair value (2) 122.4 198.0 Other unconsolidated investments, at cost (3) 58.4 6.0 Total other long-term investments $ 414.9 $ 456.1 (1) 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 less 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 September 30, 2022: September 30, 2022 December 31, 2021 Investee (1) Fair value Ownership interest Fair value Ownership interest Instrument held BE Reinsurance Limited $ 15.1 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 5.2 18.1 % 4.0 18.1 % Units Monarch Alternative Capital, LP 5.1 12.8 % 5.7 12.8 % Units New Energy Capital Infrastructure Credit Fund LP 14.2 18.3 % 20.1 18.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 9.5 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 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)	9 Months Ended
	Sep. 30, 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 September 30, 2022: September 30, 2022 December 31, 2021 Derivatives not designated as hedging instruments Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Derivative assets at fair value (1) Derivative liabilities at fair value (2) Notional Foreign currency forwards $ — $ (14.8) $ 118.8 $ — $ 1.3 $ 83.6 Foreign currency futures contracts — — 303.2 0.2 — 133.9 Weather derivatives — (2.6) 9.9 — 0.8 6.2 Foreign currency swaps — — — — 1.7 40.0 Equity warrants — — — 0.1 — 0.1 Interest rate cap $ — $ — $ — $ — $ — $ 250.0 (1) Derivative assets are classified within other assets in the Company’s consolidated balance sheets . (2) Derivative liabilities are classified within accounts payable, accrued expenses and other liabilities in the Company’s consolidated balance sheets. The following table identifies the listing currency, fair value and notional amounts of underwriting-related derivatives included in the consolidated balance sheets as of September 30, 2022 and December 31, 2021: September 30, 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 $ 3.1 $ 155.6 $ 1.2 $ 49.3 Derivative liabilities Reinsurance contracts accounted for as derivative liabilities British Pound $ 1.5 $ 81.4 $ 0.1 $ 37.4 (1) The absolute notional exposure represents the Company’s derivative activity as of September 30, 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 and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended Derivatives not designated as hedging instruments Classification of gains (losses) recognized in earnings September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Foreign currency forwards Foreign exchange gains $ (7.5) $ (0.7) $ (14.3) $ (0.6) Foreign currency futures contracts Foreign exchange gains (22.0) (2.8) (52.8) (4.7) Weather derivatives Other revenues 0.1 — (0.3) 1.4 Equity warrants Net realized and unrealized investment gains (losses) — (0.2) (0.1) (0.1) Foreign currency swaps Foreign exchange (gains) losses — 1.1 — — Foreign currency call options Foreign exchange (gains) losses $ — $ — $ — $ 0.4

Variable interest entities (Tab

Variable interest entities (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Balance, beginning of period $ 0.8 $ 3.3 $ (0.4) $ 1.4 Sirius Group acquisition and other business combinations (1) — — 0.8 0.3 Net income (loss) attributable to noncontrolling interests 0.8 (3.4) 1.2 (1.8) Contributions (Redemptions) — 0.1 — 0.1 Derecognition of noncontrolling interest (2) 6.7 — 6.7 — Balance, end of period $ 8.3 $ — $ 8.3 $ — (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 September 30, 2022 and December 31, 2021: Maximum Exposure to Loss Total VIE Assets On-Balance Sheet Off-Balance Sheet Total September 30, 2022 Other long-term investments (1) $ 276.5 $ 149.2 $ 2.0 $ 151.2 December 31, 2021 Other long-term investments (1) $ 326.2 $ 177.5 $ 2.1 $ 179.6 (1) 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). Three months ended Nine months ended TP Enhanced Fund summarized income statement September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Investment income (loss) Net realized gain (loss) from securities, derivative contracts and foreign currency translations $ (8.6) $ 38.3 $ 98.2 $ 298.4 Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations (3.4) 244.2 (327.2) 268.4 Net income (loss) from currencies 0.2 0.4 1.3 — Dividend and interest income 3.6 8.1 23.7 22.8 Other income 0.1 — 0.3 — Total investment income (loss) $ (8.1) $ 291.0 (203.7) 589.6 Expenses Management fees $ 0.9 4.1 $ 4.9 12.1 Interest 0.8 1.5 3.7 4.4 Dividends on securities sold, not yet purchased 0.2 1.5 1.3 4.5 Administrative and professional fees — 0.6 1.2 2.0 Other expenses 0.2 1.3 1.0 4.7 Total expenses 2.1 9.0 12.1 27.7 Net income (loss) $ (10.2) $ 282.0 $ (215.8) $ 561.9 The following table is a summarized balance sheet of TP Enhanced Fund as of September 30, 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 September 30, December 31, 2021 Assets Total investments in securities and affiliated funds $ 378.3 $ 1,623.5 Cash and cash equivalents 0.1 0.1 Due from brokers 131.1 524.0 Derivative assets, at fair value 11.1 46.5 Interest and dividends receivable 1.2 3.1 Other assets 0.1 1.5 Total assets $ 521.9 $ 2,198.7 Liabilities Accounts payable and accrued expenses $ 0.7 $ 1.1 Securities sold, not yet purchased, at fair value 56.6 290.4 Securities sold under agreement to repurchase 13.7 33.6 Due to brokers 134.1 493.6 Derivative liabilities, at fair value 3.0 8.4 Withdrawals payable to General Partner — 139.5 Redemptions payable to SiriusPoint — 250.0 Interest and dividends payable 0.2 0.7 Management fee payable — 0.2 Total liabilities 208.3 1,217.5 Total partners' capital $ 313.6 $ 981.2

Loss and loss adjustment expe_2

Loss and loss adjustment expense reserves (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2022 and 2021: September 30, 2022 September 30, 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 1,215.5 1,001.0 Prior years (17.2) (25.9) Total incurred loss and loss adjustment expenses 1,198.3 975.1 Net loss and loss adjustment expenses paid in respect of losses occurring in: Current year (180.4) (152.3) Prior years (616.1) (543.9) Total net paid losses (796.5) (696.2) Foreign currency translation (136.3) (19.5) Amounts acquired as a result of Sirius Group acquisition (1) — 2,467.8 Net reserves for loss and loss adjustment expenses, end of period 3,890.2 4,016.9 Plus: loss and loss adjustment expenses recoverable, end of period 1,309.2 843.5 Plus: deferred charges on retroactive reinsurance contracts (2) 1.1 1.9 Gross reserves for loss and loss adjustment expenses, end of period $ 5,200.5 $ 4,862.3 (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)	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021 are as follows: September 30, December 31, 2021 Insurance and reinsurance balances receivable, net $ 1,952.7 $ 1,708.2 Loss and loss adjustment expenses recoverable, net 1,309.2 1,215.3 Other assets (1) 43.2 14.5 Total assets in scope $ 3,305.1 $ 2,938.0

Debt and letter of credit fac_2

Debt and letter of credit facilities (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Amount Effective rate (1) Amount Effective rate (1) 2017 SEK Subordinated Notes, at face value $ 247.7 5.1 % $ 303.1 4.1 % Unamortized discount (5.8) (6.8) 2017 SEK Subordinated Notes, carrying value 241.9 296.3 2016 Senior Notes, at face value 400.0 4.5 % 400.0 4.5 % Unamortized premium 5.5 6.0 2016 Senior Notes, carrying value 405.5 406.0 2015 Senior Notes, at face value 115.0 7.0 % 115.0 7.0 % Unamortized issuance costs (0.4) (0.6) 2015 Senior Notes, carrying value 114.6 114.4 Total debt $ 762.0 $ 816.7 (1) Effective rate considers the effect of the debt issuance costs, discount, and premium.
Schedule of letter of credit facilities	As of September 30, 2022, the Company had entered into the following letter of credit facilities: September 30, 2022 Letters of Credit Collateral Committed Capacity Issued Cash and Cash Equivalents Debt securities Committed - Secured letters of credit facilities $ 330.0 $ 279.0 $ 20.2 $ 190.4 Uncommitted - Secured letters of credit facilities n/a 953.5 46.7 1,045.1 $ 1,232.5 $ 66.9 $ 1,235.5

Shareholders' equity (Tables)

Shareholders' equity (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 1,078,208 3,185,798 Shares repurchased (695,047) — Options exercised — 220,000 Performance restricted shares granted, net of forfeitures and shares withheld — (1,464,532) Issuance of common shares for Sirius Group acquisition — 58,331,196 Issuance of common shares to related party — 6,093,842 Common shares issued and outstanding, end of period 162,312,938 161,949,037

Earnings (loss) per share ava_2

Earnings (loss) per share available to SiriusPoint common shareholders (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2022 and 2021: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Weighted-average number of common shares outstanding: Basic number of common shares outstanding 160,321,270 159,225,772 160,150,911 145,095,270 Dilutive effect of options — — — 196,414 Dilutive effect of warrants — — — 38,525 Dilutive effect of restricted share units — — — 1,252,639 Dilutive effect of Series A preference shares — 1,015,116 — 1,015,116 Diluted number of common shares outstanding 160,321,270 160,240,888 160,150,911 147,597,964 Basic earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (98.4) $ (48.0) $ (376.2) $ 184.9 Net income allocated to SiriusPoint participating common shareholders — — — (13.7) Net income (loss) allocated to SiriusPoint common shareholders $ (98.4) $ (48.0) $ (376.2) $ 171.2 Basic earnings (loss) per share available to SiriusPoint common shareholders $ (0.61) $ (0.30) $ (2.35) $ 1.18 Diluted earnings (loss) per common share: Net income (loss) available to SiriusPoint common shareholders $ (98.4) $ (48.0) $ (376.2) $ 184.9 Net income allocated to SiriusPoint participating common shareholders — — — (2.8) Change in carrying value of Series A preference shares — (7.2) — (9.6) Net income (loss) allocated to SiriusPoint common shareholders $ (98.4) $ (55.2) $ (376.2) $ 172.5 Diluted earnings (loss) per share available to SiriusPoint common shareholders $ (0.61) $ (0.34) $ (2.35) $ 1.17

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of related transactions	The following table provides the fair value of the Company's investments managed by related parties as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Third Point Enhanced LP $ 280.3 $ 878.2 Third Point Venture Offshore Fund I LP 28.7 31.4 Investments in related party investment funds, at fair value 309.0 909.6 Third Point Optimized Credit Portfolio (1) 500.7 — Total investments managed by related parties $ 809.7 $ 909.6 (1) The Third Point Optimized Credit Portfolio is reported in debt securities available for sale and trading in the consolidated balance sheets. The total management, advisory and performance fees to related parties for the three and nine months ended September 30, 2022 and 2021 were as follows: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Management and advisory fees $ 0.9 $ 5.3 $ 6.1 $ 14.1 Performance fees — 50.3 (1.3) 99.7 Total management, advisory and performance fees to related parties $ 0.9 $ 55.6 $ 4.8 $ 113.8

Commitment and contingencies (T

Commitment and contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of lease balances	The following table presents the lease balances within the consolidated balance sheets as of September 30, 2022 and December 31, 2021: September 30, December 31, 2021 Operating lease right-of-use assets (1) $ 19.8 $ 27.4 Operating lease liabilities (2) $ 24.6 $ 32.5 Weighted average lease term (years) 5.0 5.0 Weighted average discount rate 2.2 % 2.4 % (1) Operating lease right-of-use assets are included in other assets . (2) Operating lease liabilities are included in accounts payable, accrued expenses and other liabilities on the Company’s consolidated balance sheets .
Schedule of future minimum rental commitments	Future minimum rental commitments as of September 30, 2022 under these leases are expected to be as follows: Future Payments Remainder of 2022 $ 2.6 2023 7.7 2024 4.4 2025 3.1 2026 and thereafter 8.0 Total future annual minimum rental payments 25.8 Less: present value discount (1.2) Total lease liability as of September 30, 2022 $ 24.6

Organization (Details)

Organization (Details)	9 Months Ended
	Sep. 30, 2022 segment
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		9 Months Ended
	Feb. 26, 2021	Sep. 30, 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 ($) $ / shares in Units, $ in Millions		3 Months Ended	9 Months Ended
	Feb. 26, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Dividends paid to preference shareholders			$ 12	$ 8.2
Liability-classified capital instruments		$ 48.9	48.9		$ 87.8
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		0.4	0.4
Merger warrants
Business Acquisition [Line Items]
Liability-classified capital instruments		6.9	6.9
Private warrants
Business Acquisition [Line Items]
Liability-classified capital instruments		0	0
Public warrants
Business Acquisition [Line Items]
Liability-classified capital instruments		0	0
CVRs
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		(1.5)	(10.9)
Liability-classified capital instruments		41.5	41.5
Liability-classified capital instruments | Series A preference shares
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		0.6	20
Liability-classified capital instruments | Merger warrants
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		2.8	25.6
Liability-classified capital instruments | Private warrants
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		0	3.2
Liability-classified capital instruments | Public warrants
Business Acquisition [Line Items]
Gains (losses) from the change in fair value		$ 0	1.1
Sirius Group
Business Acquisition [Line Items]
Aggregate consideration	$ 1,079.8
Cash consideration	100.4
Other transaction-related services	45.5
Bargain purchase gain	$ 50.4
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	$ 595.6
Sirius Group | Contingent value components
Business Acquisition [Line Items]
Equity interests issued	$ 338.3
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	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	9 Months Ended
	Sep. 30, 2021 USD ($)
Business Acquisition [Line Items]
Total revenues	$ 933.4
Net loss	$ (161.5)

Acquisition of Sirius Group - S

Acquisition of Sirius Group - Supplemental pro forma information (Details) - Sirius Group - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Total revenues	$ 732.6	$ 1,958.8
Net income (loss)	$ (47.8)	$ 187.7

Segment reporting - Narrative (

Segment reporting - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 product segment
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Gross premiums written	$ 843.8	$ 641.2	$ 2,666.1	$ 1,545.7
Net premiums written	634.4	478.8	1,971.3	1,223.3
Net premiums earned	612.6	499.6	1,710.7	1,197.1
Loss and loss adjustment expenses incurred, net	497.9	577.3	1,198.3	975.1
Acquisition costs, net	116.8	106.9	348.9	281.5
Other underwriting expenses	44.8	53.3	138.1	120.6
Underwriting income (loss)	(46.9)	(237.9)	25.4	(180.1)
Segment income (loss)	(46.9)	(237.9)	25.4	(180.1)
Net realized and unrealized investment gains (losses)	(56.1)	(11.7)	(236.4)	43.7
Net realized and unrealized investment gains (losses) from related party investment funds	(8.3)	202.4	(199.8)	401.2
Net investment income	36.2	9.1	61.4	18.8
Other revenues	13.1	33.2	96.1	121.9
Net corporate and other expenses	(70.8)	(59.9)	(220.2)	(194.5)
Intangible asset amortization	(2.1)	(2)	(6)	(4.1)
Interest expense	(9.4)	(9.7)	(28.1)	(24.4)
Foreign exchange gains (losses)	51.6	16.1	127.5	16.5
Income (loss) before income tax (expense) benefit	(92.7)	(60.4)	(380.1)	199
Income tax (expense) benefit	(0.9)	13	17.1	(6.4)
Net income (loss)	(93.6)	(47.4)	(363)	192.6
Net (income) loss attributable to noncontrolling interests	(0.8)	3.4	(1.2)	1.8
Net income (loss) available to SiriusPoint	$ (94.4)	$ (44)	$ (364.2)	$ 194.4
Underwriting Ratios:
Loss Ratio	81.30%	115.60%	70%	81.50%
Acquisition Cost Ratio	19.10%	21.40%	20.40%	23.50%
Underwriting Expense Ratio	7.30%	10.70%	8.10%	10.10%
Combined ratio	107.70%	147.70%	98.50%	115.10%
Core
Segment Reporting Information [Line Items]
Gross premiums written	$ 843.3	$ 635.9	$ 2,663.2	$ 1,559.6
Net premiums written	633.8	473.5	1,969.1	1,242.3
Net premiums earned	609.9	487	1,694.1	1,197.5
Loss and loss adjustment expenses incurred, net	504.1	562.5	1,192.1	972.3
Acquisition costs, net	150.8	127.2	434.4	321.7
Other underwriting expenses	43.3	41.9	133.6	101.6
Underwriting income (loss)	(88.3)	(244.6)	(66)	(198.1)
Segment income (loss)	(75.4)	(243.8)	(28.5)	(145.8)
Income (loss) before income tax (expense) benefit	(75.4)	(243.8)	(28.5)	(145.8)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	(75.4)	(243.8)	(28.5)	(145.8)
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) available to SiriusPoint	$ (75.4)	$ (243.8)	$ (28.5)	$ (145.8)
Underwriting Ratios:
Loss Ratio	82.70%	115.50%	70.40%	81.20%
Acquisition Cost Ratio	24.70%	26.10%	25.60%	26.90%
Underwriting Expense Ratio	7.10%	8.60%	7.90%	8.50%
Combined ratio	114.50%	150.20%	103.90%	116.60%
Core | Services
Segment Reporting Information [Line Items]
Net services fee income	$ 8.7	$ (2.6)	$ 34	$ 8.9
Net realized and unrealized investment gains (losses)	3.7		2.9	41.6
Other revenues	55.9	37.8	169.3	89.9
Net corporate and other expenses	(47.2)	(40.4)	(135.3)	(81)
Net (income) loss attributable to noncontrolling interests	0.5	3.4	0.6	1.8
Net income (loss) available to SiriusPoint	12.9	0.8	37.5	52.3
Eliminations
Segment Reporting Information [Line Items]
Gross premiums written	0	0	0	0
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Loss and loss adjustment expenses incurred, net	(1.5)	(0.8)	(3.8)	(1.7)
Acquisition costs, net	(34)	(21.4)	(86.4)	(42.5)
Other underwriting expenses	0	0	0	0
Underwriting income (loss)	35.5	22.2	90.2	44.2
Segment income (loss)	0.1	(3.1)	(12.7)	(8.4)
Income (loss) before income tax (expense) benefit	0.1	(3.1)	(12.7)	(8.4)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	0.1	(3.1)	(12.7)	(8.4)
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) available to SiriusPoint	0.1	(3.1)	(12.7)	(8.4)
Eliminations | Services
Segment Reporting Information [Line Items]
Net services fee income	(35.4)	(25.3)	(102.9)	(52.6)
Net realized and unrealized investment gains (losses)	0		0	0
Other revenues	(35.4)	(25.3)	(102.9)	(52.6)
Net corporate and other expenses	0	0	0	0
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) available to SiriusPoint	(35.4)	(25.3)	(102.9)	(52.6)
Corporate
Segment Reporting Information [Line Items]
Gross premiums written	0.5	5.3	2.9	(13.9)
Net premiums written	0.6	5.3	2.2	(19)
Net premiums earned	2.7	12.6	16.6	(0.4)
Loss and loss adjustment expenses incurred, net	(4.7)	15.6	10	4.5
Acquisition costs, net	0	1.1	0.9	2.3
Other underwriting expenses	1.5	11.4	4.5	19
Underwriting income (loss)	5.9	(15.5)	1.2	(26.2)
Segment income (loss)	5.9	(15.5)	1.2	(26.2)
Net realized and unrealized investment gains (losses)	(59.8)	(11.7)	(239.3)	2.1
Net realized and unrealized investment gains (losses) from related party investment funds	(8.3)	202.4	(199.8)	401.2
Net investment income	36.2	9.1	61.4	18.8
Other revenues	(7.4)	20.7	29.7	84.6
Net corporate and other expenses	(23.6)	(19.5)	(84.9)	(113.5)
Intangible asset amortization	(2.1)	(2)	(6)	(4.1)
Interest expense	(9.4)	(9.7)	(28.1)	(24.4)
Foreign exchange gains (losses)	51.6	16.1	127.5	16.5
Income (loss) before income tax (expense) benefit	(16.9)	189.9	(338.3)	355
Income tax (expense) benefit	(0.9)	13	17.1	(6.4)
Net income (loss)	(17.8)	202.9	(321.2)	348.6
Net (income) loss attributable to noncontrolling interests	(1.3)	0	(1.8)	0
Net income (loss) available to SiriusPoint	(19.1)	202.9	(323)	348.6
Segment Measure Reclass
Segment Reporting Information [Line Items]
Segment income (loss)	22.5	24.5	65.4	0.3
Net realized and unrealized investment gains (losses)	3.7	0	2.9	41.6
Other revenues	20.5	12.5	66.4	37.3
Net corporate and other expenses	(47.2)	(40.4)	(135.3)	(81)
Income (loss) before income tax (expense) benefit	(0.5)	(3.4)	(0.6)	(1.8)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	(0.5)	(3.4)	(0.6)	(1.8)
Net (income) loss attributable to noncontrolling interests	0.5	3.4	0.6	1.8
Net income (loss) available to SiriusPoint	0	0	0	0
Segment Measure Reclass | Services
Segment Reporting Information [Line Items]
Net services fee income	26.7	27.9	68.9	43.7
Net realized and unrealized investment gains (losses)	(3.7)		(2.9)	(41.6)
Other revenues	(20.5)	(12.5)	(66.4)	(37.3)
Net corporate and other expenses	47.2	40.4	135.3	81
Net (income) loss attributable to noncontrolling interests	(0.5)	(3.4)	(0.6)	(1.8)
Net income (loss) available to SiriusPoint	22.5	24.5	65.4	0.3
Reinsurance | Core
Segment Reporting Information [Line Items]
Gross premiums written	318.4	395.3	1,220.9	931.6
Net premiums written	267.1	289.6	963.5	773.8
Net premiums earned	304.5	326.4	931.6	862.8
Loss and loss adjustment expenses incurred, net	286.3	471.5	685.5	773.7
Acquisition costs, net	69.8	85.4	236	224.1
Other underwriting expenses	28	32.1	86.8	82.6
Underwriting income (loss)	(79.6)	(262.6)	(76.7)	(217.6)
Segment income (loss)	(75.9)	(262.6)	(73)	(217.3)
Income (loss) before income tax (expense) benefit	$ (75.9)	$ (262.6)	$ (73)	$ (217.3)
Underwriting Ratios:
Loss Ratio	94%	144.50%	73.60%	89.70%
Acquisition Cost Ratio	22.90%	26.20%	25.30%	26%
Underwriting Expense Ratio	9.20%	9.80%	9.30%	9.60%
Combined ratio	126.10%	180.50%	108.20%	125.30%
Reinsurance | Core | Services
Segment Reporting Information [Line Items]
Net services fee income	$ 3.4	$ 0	$ 3.4	$ 0
Net realized and unrealized investment gains (losses)	0.3		0.3	0.3
Other revenues	3.4	0	3.4	0
Net corporate and other expenses	0	0	0	0
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income (loss) available to SiriusPoint	3.7	0	3.7	0.3
Insurance & Services | Core
Segment Reporting Information [Line Items]
Gross premiums written	524.9	240.6	1,442.3	628
Net premiums written	366.7	183.9	1,005.6	468.5
Net premiums earned	305.4	160.6	762.5	334.7
Loss and loss adjustment expenses incurred, net	217.8	91	506.6	198.6
Acquisition costs, net	81	41.8	198.4	97.6
Other underwriting expenses	15.3	9.8	46.8	19
Underwriting income (loss)	(8.7)	18	10.7	19.5
Segment income (loss)	0.5	18.8	44.5	71.5
Income (loss) before income tax (expense) benefit	$ 0.5	$ 18.8	$ 44.5	$ 71.5
Underwriting Ratios:
Loss Ratio	71.30%	56.70%	66.40%	59.30%
Acquisition Cost Ratio	26.50%	26%	26%	29.20%
Underwriting Expense Ratio	5%	6.10%	6.10%	5.70%
Combined ratio	102.80%	88.80%	98.50%	94.20%
Insurance & Services | Core | Services
Segment Reporting Information [Line Items]
Net services fee income	$ 5.3	$ (2.6)	$ 30.6	$ 8.9
Net realized and unrealized investment gains (losses)	3.4		2.6	41.3
Other revenues	52.5	37.8	165.9	89.9
Net corporate and other expenses	(47.2)	(40.4)	(135.3)	(81)
Net (income) loss attributable to noncontrolling interests	0.5	3.4	0.6	1.8
Net income (loss) available to SiriusPoint	$ 9.2	$ 0.8	$ 33.8	$ 52

Cash, cash equivalents, restr_3

Cash, cash equivalents, restricted cash and restricted investments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 647.3	$ 999.8
Restricted cash	144.2	948.6
Total cash, cash equivalents and restricted cash	791.5	1,948.4	$ 2,183.5
Restricted investments securing reinsurance contracts and letter of credit facilities	2,076.8	1,107
Total cash, cash equivalents, restricted cash and restricted investments	2,868.3	3,055.4
Managing general underwriters
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	21.6	16.6
Letter of credit facilities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	66.9	500.2
Reinsurance contracts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 55.7	$ 431.8

Fair value measurements - Inves

Fair value measurements - Investments categorized by the level of the fair value hierarchy (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Debt securities, trading	$ 1,697.1	$ 2,085.6
Debt securities, available-for-sale	1,324	0
Equity securities	1.4	2.8
Short-term investments	1,991.6	1,075.8
Other long-term investments	414.9	456.1
Total assets	5,741.1	4,530.5
Liabilities
Securities sold, not yet purchased	41.7	0
Securities sold under an agreement to repurchase	17.3
Liability-classified capital instruments	48.9	87.8
Derivative liabilities	1.5	3.2
Total liabilities	109.4	91
Asset-backed securities
Assets
Debt securities, trading	642	513.1
Debt securities, available-for-sale	133.9
Residential mortgage-backed securities
Assets
Debt securities, trading	141.2	301.9
Debt securities, available-for-sale	212.8
Commercial mortgage-backed securities
Assets
Debt securities, trading	117	147.3
Debt securities, available-for-sale	18.6
Corporate debt securities
Assets
Debt securities, trading	404.4	602.6
Debt securities, available-for-sale	386
U.S. government and government agency
Assets
Debt securities, trading	297.1	385.4
Debt securities, available-for-sale	552.3
Non-U.S. government and government agency
Assets
Debt securities, trading	92.2	132.3
Debt securities, available-for-sale	20.4
U.S. states, municipalities and political subdivision
Assets
Debt securities, trading		0.2
Preferred stocks
Assets
Debt securities, trading	3.2	2.8
Fixed income mutual funds
Assets
Equity securities	1.3	2.1
Common stocks
Assets
Equity securities	0.1	0.7
Fair Value, Inputs, Level 1, 2 and 3
Assets
Debt securities, trading	1,697.1	2,085.6
Debt securities, available-for-sale	1,324
Equity securities	1.4	2.8
Short-term investments	1,991.6	1,075.8
Other long-term investments	324.8	336.9
Derivative assets	3.1	0.6
Total assets	5,342	3,501.7
Fair Value, Inputs, Level 1, 2 and 3 | Asset-backed securities
Assets
Debt securities, trading	642	513.1
Debt securities, available-for-sale	133.9
Fair Value, Inputs, Level 1, 2 and 3 | Residential mortgage-backed securities
Assets
Debt securities, trading	141.2	301.9
Debt securities, available-for-sale	212.8
Fair Value, Inputs, Level 1, 2 and 3 | Commercial mortgage-backed securities
Assets
Debt securities, trading	117	147.3
Debt securities, available-for-sale	18.6
Fair Value, Inputs, Level 1, 2 and 3 | Corporate debt securities
Assets
Debt securities, trading	404.4	602.6
Debt securities, available-for-sale	386
Fair Value, Inputs, Level 1, 2 and 3 | U.S. government and government agency
Assets
Debt securities, trading	297.1	385.4
Debt securities, available-for-sale	552.3
Fair Value, Inputs, Level 1, 2 and 3 | Non-U.S. government and government agency
Assets
Debt securities, trading	92.2	132.3
Debt securities, available-for-sale	20.4
Fair Value, Inputs, Level 1, 2 and 3 | U.S. states, municipalities and political subdivision
Assets
Debt securities, trading		0.2
Fair Value, Inputs, Level 1, 2 and 3 | Preferred stocks
Assets
Debt securities, trading	3.2	2.8
Fair Value, Inputs, Level 1, 2 and 3 | Fixed income mutual funds
Assets
Equity securities	1.3	2.1
Fair Value, Inputs, Level 1, 2 and 3 | Common stocks
Assets
Equity securities	0.1	0.7
Quoted prices in active markets (Level 1)
Assets
Debt securities, trading	295	378.7
Debt securities, available-for-sale	556.1
Equity securities	1.4	2.8
Short-term investments	1,844.6	1,073.2
Other long-term investments	0	0
Derivative assets	0	0.2
Total assets	2,697.1	1,454.9
Liabilities
Securities sold, not yet purchased	41.7
Securities sold under an agreement to repurchase	0
Liability-classified capital instruments	0	0
Derivative liabilities	0	0
Total liabilities	41.7	0
Quoted prices in active markets (Level 1) | Asset-backed securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Quoted prices in active markets (Level 1) | Residential mortgage-backed securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Quoted prices in active markets (Level 1) | Commercial mortgage-backed securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Quoted prices in active markets (Level 1) | Corporate debt securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Quoted prices in active markets (Level 1) | U.S. government and government agency
Assets
Debt securities, trading	286.1	360.9
Debt securities, available-for-sale	552.3
Quoted prices in active markets (Level 1) | Non-U.S. government and government agency
Assets
Debt securities, trading	8.9	17.8
Debt securities, available-for-sale	3.8
Quoted prices in active markets (Level 1) | U.S. states, municipalities and political subdivision
Assets
Debt securities, trading		0
Quoted prices in active markets (Level 1) | Preferred stocks
Assets
Debt securities, trading	0	0
Quoted prices in active markets (Level 1) | Fixed income mutual funds
Assets
Equity securities	1.3	2.1
Quoted prices in active markets (Level 1) | Common stocks
Assets
Equity securities	0.1	0.7
Significant other observable inputs (Level 2)
Assets
Debt securities, trading	1,398.9	1,704.1
Debt securities, available-for-sale	767.9
Equity securities	0	0
Short-term investments	147	2.6
Other long-term investments	0	0
Derivative assets	0	0
Total assets	2,313.8	1,706.7
Liabilities
Securities sold, not yet purchased	0
Securities sold under an agreement to repurchase	17.3
Liability-classified capital instruments	48.9	30.6
Derivative liabilities	0	0
Total liabilities	66.2	30.6
Significant other observable inputs (Level 2) | Asset-backed securities
Assets
Debt securities, trading	642	513.1
Debt securities, available-for-sale	133.9
Significant other observable inputs (Level 2) | Residential mortgage-backed securities
Assets
Debt securities, trading	141.2	301.9
Debt securities, available-for-sale	212.8
Significant other observable inputs (Level 2) | Commercial mortgage-backed securities
Assets
Debt securities, trading	117	147.3
Debt securities, available-for-sale	18.6
Significant other observable inputs (Level 2) | Corporate debt securities
Assets
Debt securities, trading	404.4	602.6
Debt securities, available-for-sale	386
Significant other observable inputs (Level 2) | U.S. government and government agency
Assets
Debt securities, trading	11	24.5
Debt securities, available-for-sale	0
Significant other observable inputs (Level 2) | Non-U.S. government and government agency
Assets
Debt securities, trading	83.3	114.5
Debt securities, available-for-sale	16.6
Significant other observable inputs (Level 2) | U.S. states, municipalities and political subdivision
Assets
Debt securities, trading		0.2
Significant other observable inputs (Level 2) | Preferred stocks
Assets
Debt securities, trading	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, trading	3.2	2.8
Debt securities, available-for-sale	0
Equity securities	0	0
Short-term investments	0	0
Other long-term investments	324.8	336.9
Derivative assets	3.1	0.4
Total assets	331.1	340.1
Liabilities
Securities sold, not yet purchased	0
Securities sold under an agreement to repurchase	0
Liability-classified capital instruments	0	57.2
Derivative liabilities	1.5	3.2
Total liabilities	1.5	60.4
Significant unobservable inputs (Level 3) | Asset-backed securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Significant unobservable inputs (Level 3) | Residential mortgage-backed securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Significant unobservable inputs (Level 3) | Commercial mortgage-backed securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Significant unobservable inputs (Level 3) | Corporate debt securities
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Significant unobservable inputs (Level 3) | U.S. government and government agency
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Significant unobservable inputs (Level 3) | Non-U.S. government and government agency
Assets
Debt securities, trading	0	0
Debt securities, available-for-sale	0
Significant unobservable inputs (Level 3) | U.S. states, municipalities and political subdivision
Assets
Debt securities, trading		0
Significant unobservable inputs (Level 3) | Preferred stocks
Assets
Debt securities, trading	3.2	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	$ 399.1	$ 1,028.8

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 318.9	$ 376.6	$ 340.1	$ 5.2
Transfers in to (out of) Level 3	0	(0.7)	(40.6)	(1.2)
Purchases	8.9	22.2	63.5	63.7
Assets Acquired		0		294.9
Sales	(6.9)	(46.2)	(35.8)	(52.2)
Realized and Unrealized Gains (Losses)	4.2	1.5	(2.1)	43
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	325.1	353.4	325.1	353.4
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(15.7)	(104.5)	(60.4)	(1)
Transfers in to (out of) Level 3	0	0.7	0	28.2
Purchases	(7.8)	(0.1)	(4.7)	(138)
Assets Acquired		0		(2.7)
Sales	0	1.9	0	1.9
Realized and Unrealized Gains (Losses)	(2.3)	21.9	39.3	31.5
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	(25.8)	(80.1)	(25.8)	(80.1)
Liability-classified capital instruments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(10.7)	(99.3)	(57.2)	0
Transfers in to (out of) Level 3	0	0	0	27
Purchases	0	0	0	(137.6)
Assets Acquired		0		0
Sales	0	0	0	0
Realized and Unrealized Gains (Losses)	3.4	22	49.9	33.3
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	(7.3)	(77.3)	(7.3)	(77.3)
Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		(1.5)		0
Transfers in to (out of) Level 3		0		0
Purchases		0		0
Assets Acquired		0		(0.7)
Sales		1.9		1.9
Realized and Unrealized Gains (Losses)		(0.4)		(1.2)
Ending balance		0		0
Derivative liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(5)	(3.7)	(3.2)	(1)
Transfers in to (out of) Level 3	0	0.7	0	1.2
Purchases	(7.8)	(0.1)	(4.7)	(0.4)
Assets Acquired		0		(2)
Sales	0	0	0	0
Realized and Unrealized Gains (Losses)	(5.7)	0.3	(10.6)	(0.6)
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	(18.5)	(2.8)	(18.5)	(2.8)
Preferred stocks
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	3.2	12.8	2.8	0
Transfers in to (out of) Level 3	0	0	0	0
Purchases	0	10	0	20
Assets Acquired		0		2.8
Sales	0	0	0	0
Realized and Unrealized Gains (Losses)	0	0	0.4	0
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	3.2	22.8	3.2	22.8
Other long-term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	318.1	322.1	336.9	4
Transfers in to (out of) Level 3	0	0	(40.6)	0
Purchases	8.9	7	62.9	34.7
Assets Acquired		0		259
Sales	(6.7)	(3.5)	(33)	(9.4)
Realized and Unrealized Gains (Losses)	4.5	2.5	(1.4)	39.8
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	324.8	328.1	324.8	328.1
Derivative assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(2.4)	5.2	0.4	1.2
Transfers in to (out of) Level 3	0	(0.7)	0	(1.2)
Purchases	0	0	0.6	0
Assets Acquired		0		0.3
Sales	(0.2)	0	(2.8)	0
Realized and Unrealized Gains (Losses)	(0.3)	(2)	(1.1)	2.2
Change in Unrealized Gains (Losses) in OCI	0		0
Ending balance	$ (2.9)	2.5	$ (2.9)	2.5
Loan participations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		36.5		0
Transfers in to (out of) Level 3		0		0
Purchases		5.2		9
Assets Acquired		0		32.8
Sales		(42.7)		(42.8)
Realized and Unrealized Gains (Losses)		1		1
Ending balance		$ 0		$ 0

Fair value measurements - Finan

Fair value measurements - Financial instruments not measured at fair value (Details) - Level 2 - USD ($) $ in Millions	Sep. 30, 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	$ 188.8	$ 220.9
Fair Value | Subordinated Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt	242.7	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	344	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	112.1	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	241.9	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	405.5	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	$ 114.6	$ 114.4

Investments - Summary of debt s

Investments - Summary of debt securities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt securities, trading
Cost or amortized cost	$ 1,811.5	$ 2,099.3
Gross unrealized gains	0.8	2.7
Gross unrealized losses	(106.3)	(15.6)
Net foreign currency losses	(8.9)	(0.8)
Fair value	1,697.1	2,085.6
Debt securities, available for sale
Cost or amortized cost	1,371.8
Gross unrealized gains	0.1
Gross unrealized losses	(45.1)
Net foreign currency losses	(2.8)
Fair value	1,324	0
Securities sold, not yet purchased, at fair value	41.7	0
Debt securities, available for sale, allowance for credit losses	0
Asset-backed securities
Debt securities, trading
Cost or amortized cost	667.8	512.6
Gross unrealized gains	0	0.9
Gross unrealized losses	(25.8)	(0.4)
Net foreign currency losses	0	0
Fair value	642	513.1
Debt securities, available for sale
Cost or amortized cost	137.8
Gross unrealized gains	0
Gross unrealized losses	(3.9)
Net foreign currency losses	0
Fair value	133.9
Residential mortgage-backed securities
Debt securities, trading
Cost or amortized cost	162.7	306.5
Gross unrealized gains	0	0
Gross unrealized losses	(21.5)	(4.6)
Net foreign currency losses	0	0
Fair value	141.2	301.9
Debt securities, available for sale
Cost or amortized cost	223
Gross unrealized gains	0
Gross unrealized losses	(10.2)
Net foreign currency losses	0
Fair value	212.8
Commercial mortgage-backed securities
Debt securities, trading
Cost or amortized cost	133.2	148.4
Gross unrealized gains	0	0.6
Gross unrealized losses	(16.2)	(1.7)
Net foreign currency losses	0	0
Fair value	117	147.3
Debt securities, available for sale
Cost or amortized cost	19.3
Gross unrealized gains	0
Gross unrealized losses	(0.7)
Net foreign currency losses	0
Fair value	18.6
Corporate debt securities
Debt securities, trading
Cost or amortized cost	439.4	605.5
Gross unrealized gains	0	0.6
Gross unrealized losses	(30.9)	(3.5)
Net foreign currency losses	(4.1)	0
Fair value	404.4	602.6
Debt securities, available for sale
Cost or amortized cost	405.3
Gross unrealized gains	0.1
Gross unrealized losses	(17.4)
Net foreign currency losses	(2)
Fair value	386
U.S. government and government agency
Debt securities, trading
Cost or amortized cost	306.8	388.1
Gross unrealized gains	0	0.1
Gross unrealized losses	(9.7)	(2.8)
Net foreign currency losses	0	0
Fair value	297.1	385.4
Debt securities, available for sale
Cost or amortized cost	564.7
Gross unrealized gains	0
Gross unrealized losses	(12.4)
Net foreign currency losses	0
Fair value	552.3
Non-U.S. government and government agency
Debt securities, trading
Cost or amortized cost	99.2	135.4
Gross unrealized gains	0	0.3
Gross unrealized losses	(2.2)	(2.6)
Net foreign currency losses	(4.8)	(0.8)
Fair value	92.2	132.3
Debt securities, available for sale
Cost or amortized cost	21.7
Gross unrealized gains	0
Gross unrealized losses	(0.5)
Net foreign currency losses	(0.8)
Fair value	20.4
U.S. states, municipalities and political subdivision
Debt securities, trading
Cost or amortized cost		0.2
Gross unrealized gains		0
Gross unrealized losses		0
Net foreign currency losses		0
Fair value		0.2
Preferred stocks
Debt securities, trading
Cost or amortized cost	2.4	2.6
Gross unrealized gains	0.8	0.2
Gross unrealized losses	0	0
Net foreign currency losses	0	0
Fair value	3.2	2.8
U.S. Treasuries
Debt securities, available for sale
Securities sold, not yet purchased, at fair value	$ 41.7	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)		9 Months Ended	12 Months Ended
	Feb. 23, 2022	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Weighted average duration of debt securities		1 year 3 months 18 days	1 year 7 months 6 days
Weighted average duration of debt securities, excluding short-term investments		2 years	2 years 3 months 18 days
Investments in related party investment funds, at fair value		$ 309,000,000	$ 909,600,000
Hedge funds and private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Distribution receivable		14,900,000
Unfunded commitments		10,700,000	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]
Unfunded commitments		0
Third Point Venture Offshore Fund I LP
Debt and Equity Securities, FV-NI [Line Items]
Unfunded commitments		$ 9,500,000
Percentage of net asset value held		16.70%
Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		$ 500,700,000	0
Investments in related party investment funds, at fair value		309,000,000	909,600,000
Affiliated entity | Third Point Enhanced LP
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, at fair value		280,300,000	878,200,000
Affiliated entity | Third Point Venture Offshore Fund I LP
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, at fair value		28,700,000	31,400,000
Third Point LLC, 2022 IMA | Incentive fees | Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Fee percentage	15%
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]
Fee amount	$ 1,500,000
Sub-prime
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		59,500,000	51,800,000
Sub-prime | AAA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		37,400,000	35,100,000
Sub-prime | AA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		10,200,000	16,100,000
Sub-prime | A
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		1,600,000	$ 600,000
Sub-prime | Unrated
Debt and Equity Securities, FV-NI [Line Items]
Debt securities		$ 10,300,000

Investments - Debt securities b

Investments - Debt securities by contractual maturity (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt securities, trading - Cost or Amortized cost
Due in one year or less	$ 229.3	$ 145.6
Due after one year through five years	492.6	870.4
Due after five years through ten years	68.1	69.6
Due after ten years	55.4	43.6
Cost or amortized cost	1,811.5	2,099.3
Debt securities, trading - Fair value
Due in one year or less	223.5	145.1
Due after one year through five years	467.5	862.4
Due after five years through ten years	58	68.6
Due after ten years	44.6	44.4
Fair value	1,697.1	2,085.6
Debt securities, AFS - Cost or amortized cost
Due in one year or less	34.9
Due after one year through five years	866.3
Due after five years through ten years	81.7
Due after ten years	8.8
Cost or amortized cost	1,371.8
Debt securities, AFS - Fair value
Due in one year or less	33.6
Due after one year through five years	841.2
Due after five years through ten years	76
Due after ten years	7.8
Fair value	1,324	0
Mortgage-backed and asset-backed securities
Debt securities, trading - Cost or Amortized cost
Without single maturity date	963.7	967.5
Debt securities, trading - Fair value
Without single maturity date	900.3	962.3
Debt securities, AFS - Cost or amortized cost
Without single maturity date	380.1
Debt securities, AFS - Fair value
Without single maturity date	365.4
Preferred stocks
Debt securities, trading - Cost or Amortized cost
Without single maturity date	2.4	2.6
Cost or amortized cost	2.4	2.6
Debt securities, trading - Fair value
Without single maturity date	3.2	2.8
Fair value	3.2	$ 2.8
Debt securities, AFS - Cost or amortized cost
Without single maturity date	0
Debt securities, AFS - Fair value
Without single maturity date	$ 0

Investments - Ratings and fair

Investments - Ratings and fair value of debt securities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Debt securities, trading	$ 1,697.1	$ 2,085.6
Debt securities, available-for-sale	1,324	0
AAA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities, trading	633	696.4
Debt securities, available-for-sale	126.5
AA
Debt and Equity Securities, FV-NI [Line Items]
Debt securities, trading	571.8	884.1
Debt securities, available-for-sale	803.9
A
Debt and Equity Securities, FV-NI [Line Items]
Debt securities, trading	196.9	278.5
Debt securities, available-for-sale	166.8
BBB
Debt and Equity Securities, FV-NI [Line Items]
Debt securities, trading	187.3	153.1
Debt securities, available-for-sale	146.6
Other
Debt and Equity Securities, FV-NI [Line Items]
Debt securities, trading	108.1	$ 73.5
Debt securities, available-for-sale	$ 80.2

Investments - Summary of equity

Investments - Summary of equity securities and other long-term investments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Equity securities, Cost or amortized cost	$ 1.7	$ 4.5
Equity securities, Gross unrealized gains	0	0.1
Equity securities, Gross unrealized losses	(0.4)	(2)
Equity securities, Net foreign currency gains	0.1	0.2
Equity securities, Fair value	1.4	2.8
Other long-term investments, Cost or amortized cost	407.8	443
Other long-term investments, Gross unrealized gains	29.8	28.9
Other long-term investments, Gross unrealized losses	(25.6)	(16.8)
Other long-term investments, net foreign currency gains	2.9	1
Fair value	$ 414.9	$ 456.1

Investments - Equity securities

Investments - Equity securities and other-long term investments at fair value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 1.4	$ 2.8
Other long-term investments	414.9	456.1
Valued at Level 3
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	0	0
Other long-term investments	324.8	336.9
Fixed income mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	1.3	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	0.1	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	106.2	195.7
Unfunded commitments	10.7	26.7
Hedge funds and private equity funds | Valued at NAV
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	85.1	115.2
Hedge funds and private equity funds | Valued at Level 3
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	21.1	80.5
Strategic investments and Limited liability companies and private equity securities
Debt and Equity Securities, FV-NI [Line Items]
Unfunded commitments	9.8	13.8
Strategic Investments
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	258.3	215.3
Limited liability companies and private equity securities
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	$ 50.4	$ 45.1

Investments - Investments in he

Investments - Investments in hedge funds and private equity interests by investment objective and sector (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Fair value	$ 414.9	$ 456.1
Hedge funds and private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Fair value	106.2	195.7
Unfunded commitments	10.7	26.7
Total hedge funds
Debt and Equity Securities, FV-NI [Line Items]
Fair value	32.5	70.3
Unfunded commitments	0	0
Long/short multi-sector
Debt and Equity Securities, FV-NI [Line Items]
Fair value	8.4	19.8
Unfunded commitments	0	0
Distressed mortgage credit
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0	24.6
Unfunded commitments	0	0
Private credit
Debt and Equity Securities, FV-NI [Line Items]
Fair value	23.9	24.2
Unfunded commitments	0	0
Other
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.2	1.7
Unfunded commitments	0	0
Total private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Fair value	73.7	125.4
Unfunded commitments	10.7	26.7
Energy infrastructure & services
Debt and Equity Securities, FV-NI [Line Items]
Fair value	32.1	48.4
Unfunded commitments	5.2	19
Multi-sector
Debt and Equity Securities, FV-NI [Line Items]
Fair value	6	10.1
Unfunded commitments	4.8	5.1
Healthcare
Debt and Equity Securities, FV-NI [Line Items]
Fair value	16	31
Unfunded commitments	0.3	2.2
Life settlement
Debt and Equity Securities, FV-NI [Line Items]
Fair value	14.1	12.9
Unfunded commitments	0	0
Manufacturing/Industrial
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0	19.9
Unfunded commitments	0	0
Private equity secondaries
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.5	0.5
Unfunded commitments	0.4	0.4
Other
Debt and Equity Securities, FV-NI [Line Items]
Fair value	5	2.6
Unfunded commitments	$ 0	$ 0

Investments - Hedge funds with

Investments - Hedge funds with redemption restrictions and advance notice period requirements (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Fair value	$ 414.9	$ 456.1
Hedge funds
Debt and Equity Securities, FV-NI [Line Items]
Fair value	32.5	$ 70.3
Hedge funds | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.1
Hedge funds | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	8.5
Hedge funds | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.1
Hedge funds | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	23.8
Hedge funds | Quarterly
Debt and Equity Securities, FV-NI [Line Items]
Fair value	8.5
Hedge funds | Quarterly | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Quarterly | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.1
Hedge funds | Quarterly | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	8.4
Hedge funds | Quarterly | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Quarterly | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Semi-annual
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.1
Hedge funds | Semi-annual | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Semi-annual | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Semi-annual | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.1
Hedge funds | Semi-annual | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Semi-annual | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Annual
Debt and Equity Securities, FV-NI [Line Items]
Fair value	23.9
Hedge funds | Annual | 1-29 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Annual | 30-59 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Annual | 60-89 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0
Hedge funds | Annual | 90-119 days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	0.1
Hedge funds | Annual | 120+ days notice
Debt and Equity Securities, FV-NI [Line Items]
Fair value	$ 23.8

Investments - Private equity fu

Investments - Private equity funds subject to lock-up or commitment periods (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Fair value	$ 414.9	$ 456.1
Private equity funds
Debt and Equity Securities, FV-NI [Line Items]
Fair value	73.7	$ 125.4
Private equity funds | 1 - 3 years
Debt and Equity Securities, FV-NI [Line Items]
Fair value	41.5
Private equity funds | 3 – 5 years
Debt and Equity Securities, FV-NI [Line Items]
Fair value	16
Private equity funds | 5 – 10 years
Debt and Equity Securities, FV-NI [Line Items]
Fair value	$ 16.2

Investments - Investment in rel

Investments - Investment in related party investment funds (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, at fair value	$ 309	$ 909.6
Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, at fair value	309	909.6
Third Point Enhanced LP | Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, at fair value	280.3	878.2
Third Point Venture Offshore Fund I LP | Affiliated entity
Debt and Equity Securities, FV-NI [Line Items]
Investments in related party investment funds, at fair value	$ 28.7	$ 31.4

Total realized and unrealized_3

Total realized and unrealized investment gains (losses) and net investment income - Summary of total realized and unrealized investment gains (losses) and net investment income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Investment Income [Line Items]
Other investment expenses	$ (6.9)	$ (7.8)	$ (14.5)	$ (12.3)
Total realized and unrealized investment gains (losses) and net investment income	(28.2)	199.8	(374.8)	463.7
Debt securities, trading
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	(21.2)	2.4	(141.4)	12.6
Debt securities, available for sale
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	12.5	0	15.4	0
Short-term investments
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	(6.1)	(5.6)	(8.7)	(4.2)
Other long-term investments
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	7.1	11.5	5.5	73.4
Equity securities
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	(0.1)	(1.4)	(0.5)	(1.4)
Related party investment funds
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	(8.3)	202.4	(199.8)	401.2
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 before investment expenses	(16.1)	209.3	(329.5)	481.6
Cash and cash equivalents
Net Investment Income [Line Items]
Realized and unrealized investment gains (losses) and net investment income before investment expenses	$ (5.2)	$ (1.7)	$ (30.8)	$ (5.6)

Total realized and unrealized_4

Total realized and unrealized investment gains (losses) and net investment income - Summary of net realized and unrealized gains (losses) on investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 23.6	$ 8.3	$ 47	$ 32.8
Gross realized losses	(45.9)	(2.6)	(107.1)	(9.8)
Net realized gains (losses) on investments	(22.3)	5.7	(60.1)	23
Net unrealized gains (losses) on investments	(33.8)	(17.4)	(176.3)	20.7
Net realized and unrealized gains (losses) on investments	(56.1)	(11.7)	(236.4)	43.7
Realized and unrealized gains from related party investments	$ 0.2	$ 5.1	$ 1	$ 49.4

Total realized and unrealized_5

Total realized and unrealized investment gains (losses) and net investment income - Summary of net realized investment gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Debt securities, trading	$ (29.6)	$ 5.3	$ (51.8)	$ 13.3
Debt securities, available for sale	1.8	0	2	0
Short-term investments	(0.4)	(1.6)	(0.5)	(1.6)
Equity securities	0	0	(2.3)	0
Other long-term investments	5	1.2	3.2	11.8
Net investment income (loss) on cash and cash equivalents	0.9	0.8	(10.7)	(0.5)
Net realized gains (losses) on investments	(22.3)	5.7	(60.1)	23
Realized gains (losses) due to foreign currency	$ (22.3)	$ 2.6	$ (35)	$ 1.1

Total realized and unrealized_6

Total realized and unrealized investment gains (losses) and net investment income - Summary of net unrealized investment gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Debt securities, trading	$ (7.5)	$ (15.2)	$ (128.6)	$ (23.4)
Short-term investments	(14.3)	(6.8)	(18.9)	(6.3)
Equity securities	(0.1)	(1.4)	1.7	(1.3)
Other long-term investments	(2.3)	4.9	(5.1)	54
Net investment income (loss) on cash and cash equivalents	(9.6)	1.1	(25.4)	(2.4)
Net unrealized investment gains (losses)	(33.8)	(17.4)	(176.3)	20.7
Unrealized losses, excluding foreign currency	(1.1)	(5.5)	(105)	(9.3)
Unrealized losses due to foreign currency	$ (23.3)	$ (11.2)	$ (51.5)	$ (17.4)

Total realized and unrealized_7

Total realized and unrealized investment gains (losses) and net investment income - Summary of gains attributable to unrealized investment gains on level 3 investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Investment Income [Line Items]
Debt securities, trading	$ (7.5)	$ (15.2)	$ (128.6)	$ (23.4)
Other long-term investments	(2.3)	4.9	(5.1)	54
Net unrealized investment gains (losses)	(33.8)	(17.4)	(176.3)	20.7
Level 3
Net Investment Income [Line Items]
Debt securities, trading	0.1	0	0.6	0
Other long-term investments	2.6	2	0.3	40.3
Net unrealized investment gains (losses)	$ 2.7	$ 2	$ 0.9	$ 40.3

Investments in unconsolidated_3

Investments in unconsolidated entities - Components of other long-term investments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	$ 414.9	$ 456.1
Equity method eligible unconsolidated entities, using the fair value option
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	211.5	225.3
Equity method investments
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	22.6	26.7
Other unconsolidated investments, at fair value
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	122.4	198
Other Unconsolidated Investments, at cost
Debt and Equity Securities, FV-NI [Line Items]
Other long-term investments	$ 58.4	$ 6

Investments in unconsolidated_4

Investments in unconsolidated entities - Ownership interests in equity method eligible unconsolidated entities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
BE Reinsurance Limited
Schedule of Equity Method Investments [Line Items]
Fair value	$ 15.1	$ 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%	73%
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	$ 5.2	$ 4
Ownership interest	18.10%	18.10%
Monarch Alternative Capital, LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 5.1	$ 5.7
Ownership interest	12.80%	12.80%
New Energy Capital Infrastructure Credit Fund LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 14.2	$ 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	$ 9.5	$ 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%	42.10%
Tuckerman Capital V Co-Investment I LP
Schedule of Equity Method Investments [Line Items]
Fair value	$ 0	$ 8.6
Ownership interest	0%	47.30%

Derivatives - Narrative (Detail

Derivatives - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 financial_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	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative liabilities at fair value	$ 1.5	$ 3.2
Derivatives not designated as hedging instruments | Foreign currency forwards
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(14.8)	1.3
Notional Value	118.8	83.6
Derivatives not designated as hedging instruments | Foreign currency futures contracts
Derivative [Line Items]
Derivative assets at fair value	0	0.2
Derivative liabilities at fair value	0	0
Notional Value	303.2	133.9
Derivatives not designated as hedging instruments | Weather derivatives
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(2.6)	0.8
Notional Value	9.9	6.2
Derivatives not designated as hedging instruments | Foreign currency swaps
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	1.7
Notional Value	0	40
Derivatives not designated as hedging instruments | Equity warrants
Derivative [Line Items]
Derivative assets at fair value	0	0.1
Derivative liabilities at fair value	0	0
Notional Value	0	0.1
Derivatives not designated as hedging instruments | Interest rate cap
Derivative [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	0
Notional Value	$ 0	$ 250

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	$ (7.5)	$ (0.7)	$ (14.3)	$ (0.6)
Foreign currency futures contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	(22)	(2.8)	(52.8)	(4.7)
Weather derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	0.1	0	(0.3)	1.4
Equity warrants
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	0	(0.2)	(0.1)	(0.1)
Foreign currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	0	1.1	0	0
Foreign currency call options
Derivative Instruments, Gain (Loss) [Line Items]
Net impact on earnings	$ 0	$ 0	$ 0	$ 0.4

Derivatives - Underwriting-rela

Derivatives - Underwriting-related derivatives (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative liabilities, Fair value	$ 1.5	$ 3.2
Reinsurance contracts accounted for as derivatives | British Pound
Derivative [Line Items]
Derivative assets, Fair value	3.1	1.2
Derivative assets, Notional Amounts	155.6	49.3
Derivative liabilities, Fair value	1.5	0.1
Derivative liabilities, Notional Amounts	$ 81.4	$ 37.4

Variable interest entities - Na

Variable interest entities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Assets	$ 10,998.1		$ 10,998.1		$ 10,618.3
Liabilities	8,905.3		8,905.3		8,115
Pre-tax loss	92.7	$ 60.4	380.1	$ (199)
Loss recognized through other revenues	(13.1)	$ (33.2)	(96.1)	$ (121.9)
Alstead Re
Variable Interest Entity [Line Items]
Assets	11.2		11.2		9.8
Liabilities	5.9		5.9		5.5
Arcadian
Variable Interest Entity [Line Items]
Assets	42.2		42.2		29
Liabilities	6.5		$ 6.5		7
VIE, ownership percentage			49%
Maximum financial exposure	18		$ 18
Joyn
Variable Interest Entity [Line Items]
Assets	3.6		3.6		7.8
Liabilities	$ 5.8		$ 5.8		$ 4.1
VIE, ownership percentage			50%
Preferred share ownership (in shares)	1,175,000		1,175,000
Preferred share ownership cost	$ 3.5		$ 3.5
Notes receivable and accrued interest	13.4		13.4
Pre-tax loss	9		14.4
Loss recognized through other revenues	6.7		6.7
Alta Signa
Variable Interest Entity [Line Items]
Assets	7.9		7.9
Liabilities	$ 1.5		$ 1.5
VOE, ownership percentage			75.10%
TP Enhanced Fund | TP Enhanced Fund
Variable Interest Entity [Line Items]
VIE, ownership percentage			89.40%
Variable interest entity, primary beneficiary | TP Enhanced Fund | TP GP
Variable Interest Entity [Line Items]
VIE, ownership percentage			10.60%

Variable interest entities - Re

Variable interest entities - Reconciliation of noncontrolling interests (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period	$ 0.8	$ 3.3	$ (0.4)	$ 1.4
Sirius Group acquisition and other business combinations	0	0	0.8	0.3
Net income (loss) attributable to noncontrolling interests	0.8	(3.4)	1.2	(1.8)
Contributions (Redemptions)	0	0.1	0	0.1
Derecognition of noncontrolling interest	6.7	0	6.7	0
Balance, end of period	$ 8.3	$ 0	$ 8.3	$ 0

Variable interest entities - To

Variable interest entities - Total assets and maximum exposure to loss for unconsolidated variable interest entities (Details) - Variable interest entity, not primary beneficiary, excluding TP Enhanced Fund and TP Venture Fund - Other long-term investments - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Total VIE Assets
Total VIE Assets	$ 276.5	$ 326.2
Maximum Exposure to Loss
On-Balance Sheet	149.2	177.5
Off-Balance Sheet	2	2.1
Total	$ 151.2	$ 179.6

Variable interest entities - TP

Variable interest entities - TP Enhanced Fund summarized financial information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Investment income (loss)
Net realized gain (loss) from securities, derivative contracts and foreign currency translations	$ (22.3)	$ 5.7	$ (60.1)	$ 23
Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations	(33.8)	(17.4)	(176.3)	20.7
Net income (loss) from currencies	51.6	16.1	127.5	16.5
Other revenues	13.1	33.2	96.1	121.9
Total revenues	597.5	732.6	1,432	1,782.7
Expenses
Interest	9.4	9.7	28.1	24.4
Other expenses	70.8	59.9	220.2	194.5
Net income (loss)	(93.6)	(47.4)	(363)	192.6
Assets
Total investments in securities and affiliated funds	5,738		5,738		$ 4,529.9
Cash and cash equivalents	647.3		647.3		999.8
Due from brokers	20.2		20.2		15.9
Interest and dividends receivable	17		17		8.3
Other assets	127.4		127.4		126.8
Total assets	10,998.1		10,998.1		10,618.3
Liabilities
Accounts payable and accrued expenses	245.8		245.8		229.8
Securities sold, not yet purchased, at fair value	41.7		41.7		0
Securities sold under an agreement to repurchase	17.3		17.3		0
Due to brokers	16.6		16.6		6.5
Derivative liabilities at fair value	1.5		1.5		3.2
Amounts due to affiliates	0.1	0	0.1	0
Total liabilities	8,905.3		8,905.3		8,115
TP Enhanced Fund
Investment income (loss)
Net realized gain (loss) from securities, derivative contracts and foreign currency translations	(8.6)	38.3	98.2	298.4
Net change in unrealized gain (loss) on securities, derivative contracts and foreign currency translations	(3.4)	244.2	(327.2)	268.4
Net income (loss) from currencies	0.2	0.4	1.3	0
Dividend and interest income	3.6	8.1	23.7	22.8
Other revenues	0.1	0	0.3	0
Total revenues	(8.1)	291	(203.7)	589.6
Expenses
Management fees	0.9	4.1	4.9	12.1
Interest	0.8	1.5	3.7	4.4
Dividends on securities sold, not yet purchased	0.2	1.5	1.3	4.5
Administrative and professional fees	0	0.6	1.2	2
Other expenses	0.2	1.3	1	4.7
Total expenses	2.1	9	12.1	27.7
Net income (loss)	(10.2)	$ 282	(215.8)	$ 561.9
Assets
Total investments in securities and affiliated funds	378.3		378.3		1,623.5
Cash and cash equivalents	0.1		0.1		0.1
Due from brokers	131.1		131.1		524
Derivative assets at fair value	11.1		11.1		46.5
Interest and dividends receivable	1.2		1.2		3.1
Other assets	0.1		0.1		1.5
Total assets	521.9		521.9		2,198.7
Liabilities
Accounts payable and accrued expenses	0.7		0.7		1.1
Securities sold, not yet purchased, at fair value	56.6		56.6		290.4
Securities sold under an agreement to repurchase	13.7		13.7		33.6
Due to brokers	134.1		134.1		493.6
Derivative liabilities at fair value	3		3		8.4
Interest and dividends payable	0.2		0.2		0.7
Management fee payable	0		0		0.2
Total liabilities	208.3		208.3		1,217.5
Total partners' capital	313.6		313.6		981.2
TP Enhanced Fund | TP GP
Liabilities
Amounts due to affiliates	0		0		139.5
TP Enhanced Fund | SiriusPoint
Liabilities
Amounts due to affiliates	$ 0		$ 0		$ 250

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 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			1,215.5	1,001
Prior years			(17.2)	(25.9)
Total incurred loss and loss adjustment expenses	$ 497.9	$ 577.3	1,198.3	975.1
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year			(180.4)	(152.3)
Prior years			(616.1)	(543.9)
Total net paid losses			(796.5)	(696.2)
Foreign currency translation			(136.3)	(19.5)
Amounts acquired as a result of Sirius Group acquisition			0	2,467.8
Net reserves for loss and loss adjustment expenses, end of period	3,890.2	4,016.9	3,890.2	4,016.9
Plus: loss and loss adjustment expenses recoverable, end of period	1,309.2	843.5	1,309.2	843.5
Plus: deferred charges on retroactive reinsurance contracts	1.1	1.9	1.1	1.9
Gross reserves for loss and loss adjustment expenses, end of period	$ 5,200.5	$ 4,862.3	$ 5,200.5	$ 4,862.3

Loss and loss adjustment expe_4

Loss and loss adjustment expense reserves - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Favorable change in prior loss year reserve development	$ 17.2	$ 25.9
Decrease in loss reserves due to favorable loss reserve development		27
Property line
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Decrease in loss reserves due to favorable loss reserve development		15.6
A&H line
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Decrease in loss reserves due to favorable loss reserve development		$ 6.9

Allowance for expected credit_3

Allowance for expected credit losses - Summary of allowance for expected credit losses (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Insurance and reinsurance balances receivable, net	$ 1,952.7	$ 1,708.2
Loss and loss adjustment expenses recoverable, net	1,309.2	1,215.3	$ 843.5	$ 14.4
Other assets	43.2	14.5
Total assets in scope	$ 3,305.1	$ 2,938

Allowance for expected credit_4

Allowance for expected credit losses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for expected credit losses	$ 31.5		$ 31.5		$ 21.6
Current expected credit (gains) losses	$ (0.7)	$ (0.3)	$ 10	$ 15.3
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			57%
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%

Debt and letter of credit fac_3

Debt and letter of credit facilities - Summary of debt obligations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 762	$ 816.7
Subordinated Notes
Debt Instrument [Line Items]
Debt, at face value	247.7	303.1
Unamortized discount	(5.8)	(6.8)
Total debt	$ 241.9	$ 296.3
Effective rate	5.10%	4.10%
Senior Notes | 2016 SIG Senior Notes
Debt Instrument [Line Items]
Debt, at face value	$ 400	$ 400
Unamortized premium	5.5	6
Total debt	$ 405.5	$ 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	(0.4)	(0.6)
Total debt	$ 114.6	$ 114.4
Effective rate	7%	7%

Debt and letter of credit fac_4

Debt and letter of credit facilities - Summary of letter of credit facilities (Details) - Standby letters of credit	Sep. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Issued	$ 1,232,500,000
Cash and Cash Equivalents
Line of Credit Facility [Line Items]
Collateral	66,900,000
Debt securities
Line of Credit Facility [Line Items]
Collateral	1,235,500,000
Committed - Secured letters of credit facilities
Line of Credit Facility [Line Items]
Committed Capacity	330,000,000
Issued	279,000,000
Committed - Secured letters of credit facilities | Cash and Cash Equivalents
Line of Credit Facility [Line Items]
Collateral	20,200,000
Committed - Secured letters of credit facilities | Debt securities
Line of Credit Facility [Line Items]
Collateral	190,400,000
Uncommitted - Secured letters of credit facilities
Line of Credit Facility [Line Items]
Issued	953,500,000
Uncommitted - Secured letters of credit facilities | Cash and Cash Equivalents
Line of Credit Facility [Line Items]
Collateral	46,700,000
Uncommitted - Secured letters of credit facilities | Debt securities
Line of Credit Facility [Line Items]
Collateral	$ 1,045,100,000

Debt and letter of credit fac_5

Debt and letter of credit facilities - Narrative (Details) - Revolving Credit Facility - USD ($)	Feb. 26, 2021	Sep. 30, 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax (expense) benefit	$ (0.9)	$ 13	$ 17.1	$ (6.4)
Pre-tax income (loss)	$ (92.7)	$ (60.4)	$ (380.1)	$ 199
Effective tax rate	(1.00%)		4.50%
Unrecognized tax benefits	$ 2.5		$ 2.5		$ 10.7
Unrecognized tax benefits that would impact the effective tax rate	$ 1.7		$ 1.7

Shareholders' equity - Common s

Shareholders' equity - Common shares issued and outstanding (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 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	162,312,938	162,312,938
Common shares outstanding, end of period	162,312,938	162,312,938
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
Shares repurchased	0	(695,047)	0
Options exercised		0	220,000
Issuance of common shares for Sirius Group acquisition		0	58,331,196
Issuance of common shares to related party		0	6,093,842
Common shares issued, end of period	162,312,938	162,312,938	161,949,037
Common shares outstanding, end of period	162,312,938	162,312,938	161,949,037
Restricted share awards | Common stocks
Movement In Common Stock Outstanding [Roll Forward]
Shares issued/granted, net of forfeitures and shares withheld		1,078,208	3,185,798
Performance shares | Common stocks
Movement In Common Stock Outstanding [Roll Forward]
Shares issued/granted, net of forfeitures and shares withheld		0	(1,464,532)

Shareholders' equity - Narrativ

Shareholders' equity - Narrative (Details) $ / shares in Units, $ in Millions	2 Months Ended	3 Months Ended		9 Months Ended
	Aug. 12, 2021 shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) period director $ / shares shares	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 $ / shares shares	Feb. 28, 2018 USD ($)
Class of Stock [Line Items]
Common shares authorized (in shares) | shares		300,000,000		300,000,000
Common shares, par value (in dollars per share) | $ / shares		$ 0.10		$ 0.10
Dividends paid to common shareholders				$ 0	$ 0
Dividends paid to preference shareholders				12	$ 8.2
Share repurchase program, authorized amount		$ 200		200			$ 148.3
Common shares repurchased and retired				$ 5
Weighted average cost of common shares repurchased and retired (in dollars per share) | $ / shares				$ 7.17
Stock repurchase program, remaining authorized amount		$ 56.3		$ 56.3
Common stocks
Class of Stock [Line Items]
Common shares repurchased and retired (in shares) | shares		0		695,047	0
Common shares repurchased and retired		$ 0	$ 0	$ 0.1	$ 0
Preference shares
Class of Stock [Line Items]
Preference shares, shares authorized (in shares) | shares		30,000,000		30,000,000
Preference shares, par value (in dollars per share) | $ / shares		$ 0.10		$ 0.10
Series B preference shares
Class of Stock [Line Items]
Preference shares, shares authorized (in shares) | shares		8,000,000		8,000,000		8,000,000
Preference shares, par value (in dollars per share) | $ / shares		$ 0.10		$ 0.10		$ 0.10
Preference shares, shares outstanding (in shares) | shares		8,000,000		8,000,000
Dividend rate				8%
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%
Rating agency triggering event, redemption percentage				102%
Capital disqualification triggering event, redemption percentage				100%
Tax triggering event, redemption percentage				100%
Dividends paid to preference shareholders		$ 4	$ 4	$ 12	$ 8.1
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Weighted-average number of common shares outstanding:
Basic number of common shares outstanding (in shares)	160,321,270	159,225,772	160,150,911	145,095,270
Dilutive effect of warrants (in shares)	0	0	0	38,525
Dilutive effect of Series A preference shares (in shares)	0	1,015,116	0	1,015,116
Diluted number of common shares outstanding (in shares)	160,321,270	160,240,888	160,150,911	147,597,964
Basic earnings (loss) per common share:
Net income (loss) available to SiriusPoint common shareholders	$ (98.4)	$ (48)	$ (376.2)	$ 184.9
Net income allocated to SiriusPoint participating common shareholders	0	0	0	(13.7)
Net income (loss) available to SiriusPoint common shareholders	$ (98.4)	$ (48)	$ (376.2)	$ 171.2
Basic earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (0.61)	$ (0.30)	$ (2.35)	$ 1.18
Diluted earnings (loss) per common share:
Net income (loss) available to SiriusPoint common shareholders	$ (98.4)	$ (48)	$ (376.2)	$ 184.9
Net income allocated to SiriusPoint participating common shareholders	0	0	0	(2.8)
Change in carrying value of Series A preference shares	0	(7.2)	0	(9.6)
Net income (loss) allocated to SiriusPoint common shareholders	$ (98.4)	$ (55.2)	$ (376.2)	$ 172.5
Diluted earnings (loss) per share available to SiriusPoint common shareholders (in dollars per share)	$ (0.61)	$ (0.34)	$ (2.35)	$ 1.17
Options
Weighted-average number of common shares outstanding:
Dilutive effect of share-based payment awards (in shares)	0	0	0	196,414
Restricted share units
Weighted-average number of common shares outstanding:
Dilutive effect of share-based payment awards (in shares)	0	0	0	1,252,639

Earnings (loss) per share ava_4

Earnings (loss) per share available to SiriusPoint common shareholders - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	3,684,094	10,808,025	4,030,922	4,487,807
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	31,123,755	34,618,734	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 diluted earnings (loss) per share (in shares)		10,000,000		10,000,000

Related party transactions - Na

Related party transactions - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Feb. 23, 2022	Mar. 01, 2021	Feb. 26, 2021	Aug. 06, 2020	Jan. 01, 2019
Related Party Transaction [Line Items]
Receivables from affiliates	$ 224,600,000	$ 65,300,000	$ 224,600,000	$ 65,300,000
Payables to affiliates	100,000	0	100,000	0
Related Party Fund - Third Point Venture Offshore Fund II LP
Related Party Transaction [Line Items]
Unfunded commitments	25,000,000		25,000,000
Affiliated entity
Related Party Transaction [Line Items]
Gross written premiums	144,900,000	$ 69,300,000	262,900,000	$ 151,300,000
Affiliated entity | Third Point LLC, 2022 LPA
Related Party Transaction [Line Items]
Withdrawals to be reinvested or contractually committed	$ 350,000,000		$ 350,000,000
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, 2022 Venture II LPA
Related Party Transaction [Line Items]
Fee percentage					0.75%
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]
Fee amount						$ 1,500,000
Affiliated entity | Performance fees | TP GP
Related Party Transaction [Line Items]
Fee percentage										20%
Affiliated entity | Performance fees | TP Venture GP
Related Party Transaction [Line Items]
Fee percentage							20%
Affiliated entity | Performance fees | TP Venture GP II
Related Party Transaction [Line Items]
Fee percentage					20%
Affiliated entity | Incentive fees | Third Point LLC, 2022 IMA
Related Party Transaction [Line Items]
Fee percentage						15%

Related party transactions - In

Related party transactions - Investments managed by related parties (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Investments in related party investment funds, at fair value	$ 309	$ 909.6
Total investments	5,738	4,529.9
Affiliated entity
Related Party Transaction [Line Items]
Investments in related party investment funds, at fair value	309	909.6
Third Point Optimized Credit Portfolio	500.7	0
Total investments	809.7	909.6
Affiliated entity | Third Point Enhanced LP
Related Party Transaction [Line Items]
Investments in related party investment funds, at fair value	280.3	878.2
Affiliated entity | Third Point Venture Offshore Fund I LP
Related Party Transaction [Line Items]
Investments in related party investment funds, at fair value	$ 28.7	$ 31.4

Related party transactions - Su

Related party transactions - Summary of related party fees (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Total management, advisory and performance fees to related parties	$ 0.9	$ 55.6	$ 4.8	$ 113.8
Management and advisory fees
Related Party Transaction [Line Items]
Total management, advisory and performance fees to related parties	0.9	5.3	6.1	14.1
Performance fees
Related Party Transaction [Line Items]
Total management, advisory and performance fees to related parties	$ 0	$ 50.3	$ (1.3)	$ 99.7

Commitments and contingencies -

Commitments and contingencies - Narrative (Details) $ in Millions				3 Months Ended		9 Months Ended
	Mar. 07, 2022 USD ($)	Jul. 02, 2021 USD ($)	Sep. 16, 2020 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($)
Other Commitments [Line Items]
Operating lease expense				$ 2.9	$ 3.1	$ 8.6	$ 7.6
Number of lease contracts not yet commenced | contract						1
Future minimum rental commitments for lease not yet commenced				9.4		$ 9.4
Player's Health
Other Commitments [Line Items]
Amount lent under note agreement	$ 8
Notes receivable, interest rate	6%
Affiliated entity
Other Commitments [Line Items]
Related party interest rate		8%	8%
Amount drawn				0		0
Loans receivable		$ 11.5
Additional funding provided				$ 0.8		$ 0.8
Affiliated entity | Loan commitment
Other Commitments [Line Items]
Maximum commitment			$ 18

Commitments and contingencies_2

Commitments and contingencies - Lease balances (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease right-of-use assets	$ 19.8	$ 27.4
Total lease liability	$ 24.6	$ 32.5
Weighted average lease term (years)	5 years	5 years
Weighted average discount rate	2.20%	2.40%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts payable, accrued expenses and other liabilities	Accounts payable, accrued expenses and other liabilities

Commitments and contingencies_3

Commitments and contingencies - Future minimum rental commitments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2022	$ 2.6
2023	7.7
2024	4.4
2025	3.1
2026 and thereafter	8
Total future annual minimum rental payments	25.8
Less: present value discount	(1.2)
Total lease liability	$ 24.6	$ 32.5

Subsequent event (Details)

Subsequent event (Details) - Subsequent event $ in Millions	Nov. 02, 2022 USD ($)
Minimum
Subsequent Event [Line Items]
Estimated total costs	$ 30
Maximum
Subsequent Event [Line Items]
Estimated total costs	$ 35

Uncategorized Items - spnt-2022

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	$ 1,713,900,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	$ 1,948,400,000