SiriusPoint nearly doubles Q2 profit, MGA consolidation paying off

Specialty re/insurer SiriusPoint nearly doubled its second quarter profit by trimming expenses and capitalising on a surge in other revenues. CEO Scott Egan (pictured) highlighted the company's strategic focus on rationalising MGA equity stakes, reducing them to 22 from 36 at the start of 2023, and unlocking significant off-balance sheet value from its consolidated MGAs.