Siriuspoint Ltd (NYSE:SPNT) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET

Company Participants

Clare Kerrigan - Head, Investor Relations

Sid Sankaran - Chairman & Chief Executive Officer

David Junius - Chief Financial Officer

Conference Call Participants

Operator

Good morning, ladies and gentlemen, and welcome to the SiriusPoint Limited First Quarter 2022 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. As a reminder this conference is being recorded.

I would now like to turn the call over to Ms. Clare Kerrigan, Head of Investor Relations for SiriusPoint. Please go ahead.

Clare Kerrigan

Thank you, Operator. Welcome to the SiriusPoint Limited Earnings Call for the first quarter of 2022. Last night, we issued our earnings press release and financial supplement, which are available on our website, www.siriuspt.com.

With me here today are Sid Sankaran, our Chairman and Chief Executive Officer; and David Junius, our Chief Financial Officer.

Before we begin, I would like to remind you that many of the remarks today will contain forward-looking statements based on current expectations. Actual results may differ materially from those projected as a result of certain risks and uncertainties. Please refer to the earnings press release and the company's other public filings, including the recent Form 10-K for the period ended December 31, 2021, where you will find risk factors that could cause actual results to differ materially from these forward-looking statements.

In addition, management will refer to certain non-GAAP financial measures, which management believe allow for a more complete understanding of the company's financial results. A reconciliation of these non-GAAP measures to the most comparable GAAP measure is presented in the company's earnings press release that is available on our website.

At this time, I will turn the call over to Sid.

Sid Sankaran

Thank you, Clare, and good morning everyone. I'm extremely pleased that the first quarter of 2022 showed positive underwriting progress as we continue to execute on the strategic priorities we laid out one year ago to transform our business.

SiriusPoint launched in 2021 with the capital, platform and expertise to address our legacy challenges and unlock the potential that exists in our company. When we launched, we outlined our plans to achieve profitability through a shift in business mix towards insurance products. A significant reduction in exposure to catastrophe risk and a complete re-underwriting of other reinsurance business. Finally on the asset side, we intended a derisking of our investment portfolio. This is the first quarter that meaningfully reflects the hard work that has been undertaken since then.