SiriusPoint will redeem 8 million Series B Preference Shares on February 26, 2026, simplifying its capital structure.
Quiver AI Summary
SiriusPoint Ltd., a global specialty insurer and reinsurer, announced its decision to redeem all 8 million of its outstanding 8.00% Resettable Fixed Rate Preference Shares, Series B, on February 26, 2026, at a redemption price of $25.00 per share plus $0.49 for unpaid, accrued dividends. This move will eliminate the cost of capital associated with these shares and optimize the company's financial structure. Following the redemption, the shares will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934. Registered holders of the shares will receive further communication regarding the redemption, and inquiries can be directed to the redemption agent, Computershare Trust Company, N.A.
Potential Positives
- The redemption of the Series B Preference Shares will simplify and optimize SiriusPoint's capital structure.
- Eliminating the Series B Preference Shares reduces the company's cost of capital and the associated cash servicing burden.
- Completing the redemption will strengthen SiriusPoint's financial leverage and improve overall financial stability.
- The planned delisting of the Series B Preference Shares can enhance operational efficiency by reducing regulatory burdens.
Potential Negatives
- The redemption of the Series B Preference Shares may indicate a restructuring or financial difficulties, which could imply a lack of confidence in maintaining these financial instruments as part of the company's capital structure.
- By delisting and deregistering the Series B Preference Shares, the company may lose access to a segment of investors who are interested in preferred shares, potentially reducing market interest and liquidity for the company's securities.
- The press release does not provide detailed context on why the redemption is being carried out, which could raise concerns among investors about the company's financial health or future plans.
FAQ
When will SiriusPoint redeem the Series B Preference Shares?
SiriusPoint will redeem all Series B Preference Shares on February 26, 2026.
What is the redemption price for the Series B Preference Shares?
The redemption price is $25.00 per share, plus $0.49 for unpaid accrued dividends.
What happens after the Series B Preference Shares are redeemed?
After redemption, all rights related to the Series B Preference Shares will cease, and they will be delisted from the NYSE.
Why is SiriusPoint redeeming the Series B Preference Shares?
The redemption aims to simplify the company's capital structure and eliminate related costs of capital and servicing.
How can holders inquire about the redemption?
Holders can contact the redemption agent, Computershare Trust Company, at 781-575-2765 or 800-546-5141 for inquiries.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPNT Hedge Fund Activity
We have seen 124 institutional investors add shares of $SPNT stock to their portfolio, and 94 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP removed 6,899,866 shares (-61.6%) from their portfolio in Q3 2025, for an estimated $124,818,575
- CAPITAL RESEARCH GLOBAL INVESTORS added 1,000,000 shares (+17.5%) to their portfolio in Q3 2025, for an estimated $18,090,000
- AMERICAN CENTURY COMPANIES INC added 854,315 shares (+17.5%) to their portfolio in Q3 2025, for an estimated $15,454,558
- VICTORY CAPITAL MANAGEMENT INC added 736,823 shares (+20.6%) to their portfolio in Q3 2025, for an estimated $13,329,128
- GOLDMAN SACHS GROUP INC added 694,011 shares (+70.5%) to their portfolio in Q3 2025, for an estimated $12,554,658
- CITADEL ADVISORS LLC removed 660,771 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $11,953,347
- MILLENNIUM MANAGEMENT LLC added 567,757 shares (+3428.3%) to their portfolio in Q3 2025, for an estimated $10,270,724
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Full Release
HAMILTON, Bermuda, Jan. 29, 2026 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT), a global specialty insurer and reinsurer, announced today that the Company will redeem all 8 million of its issued and outstanding 8.00% Resettable Fixed Rate Preference Shares, Series B (“Series B Preference Shares”) on February 26, 2026 (the “Redemption Date”). The redemption price payable on the Redemption Date is $25.00 per share, plus $0.49, which reflects unpaid, accrued cumulative dividends to, but excluding, the Redemption Date, without interest (the “Redemption Price”).
All outstanding Series B Preference Shares will be called for redemption. Following the redemption, no Series B Preference Shares will remain outstanding and all rights with respect to such Series B Preference Shares will cease and terminate, except for the right to receive the Redemption Price. Upon completion of the redemption, the Company intends to delist the Series B Preference Shares from the New York Stock Exchange and deregister the Series B Preference Shares under the Securities Exchange Act of 1934.
The redemption will help to simplify and optimize the Company’s capital structure and financial leverage, while also eliminating the cost of capital and related cash servicing associated with the Series B Preference Shares.
The notice of redemption is in the process of being communicated to registered holders of the Series B Preference Shares. Holders may inquire about the redemption by contacting the redemption agent, Computershare Trust Company, N.A., at 150 Royall Street, Canton, MA 02021, 781-575-2765, or 800-546-5141.
About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators within our Insurance & Services segment. With approximately $2.8 billion in total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s. For more information, please visit
www.siriuspt.com
.
Forward-Looking Statements
We make statements in this press release, and any related oral statements, that are forward-looking statements within the meaning of the U.S. federal securities laws, which we intend to be covered by the safe harbor provisions for such forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those made in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors described in SiriusPoint’s most recent Annual Report on Form 10-K and any other subsequent periodic reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date made and SiriusPoint undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts
Investor Relations
Liam Blackledge, SiriusPoint
[email protected]
+44 203 772 3082
Media
Sarah Hills, Rein4ce
[email protected]
+44 7718 882011
