SiriusPoint Ltd. announced its financial results for the second quarter ended June 30.

The company reported net income attributable to common stockholders of $109.9 million, or $0.57 per diluted common share. Underlying income for the quarter was $46 million, which included underwriting income of $36.9 million, and the underlying combined ratio was 93.3%.

Net core service fee income was $9.7 million, with a service margin of 16.9%. Net investment income was $78.2 million, contributing to a total investment result of $23.3 million.

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Book value per diluted common share increased $0.67, or 4.9%, from March 31, 2024, to $14.31. Return on average common equity was reported at 17.9%, and the debt-to-equity ratio decreased to 19.3%, compared to 22.8% as of March 31.

In the first half of 2024, SiriusPoint reported net income available to common stockholders of $200.7 million, or $1.05 per diluted common share. Underlying income was $108.4 million, including underwriting income of $81.2 million, for a combined underlying ratio of 92.5%.

Read more: SiriusPoint partners with Hellenic Hull to cover high-quality hull and machinery risks

The Company reported net income from core service fees of $29.5 million, with a service margin of 23.9%. Net investment income was $157.0 million, resulting in a total investment result of $103.1 million.

Book value per diluted common share increased by $0.96, or 7.2%, from December 31, 2023 to $14.31. Return on average common equity was 16.7%, and the debt-to-equity ratio decreased to 19.3%, down from 23.8% as of December 31, 2023.

“We delivered another strong quarter, our seventh consecutive quarter of positive underwriting income,” said Scott Egan (pictured above), CEO. “With another quarter of strong underwriting results and the completion of our previously announced debt actions, our balance sheet is the strongest we have ever been. These actions are a testament to our belief in the attractive value of our shares and our capital position, which is underpinned by strong performance and diligent execution.”

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