2 3 4 4 5 Executive Management Committee - - PowerPoint PPT Presentation

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2 3 4 4 5 Executive Management Committee - - PowerPoint PPT Presentation

Jan 20, 2023 818 likes •1.06k views

2 3 4 4 5 Executive Management Committee Monica Cramr-Manhem | Group COO, Gene Boxer | Chief Strategy Officer & Group Allan Waters | Group Chairman & CEO Kip Oberting | Group President

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. . . 6

  • Allan Waters| Group Chairman & CEO

Kip Oberting| Group President & CFO Gene Boxer| Chief Strategy Officer & Group General Counsel Sirius Tenure: 32 | Relevant Experience: 38 Sirius Tenure: 14 | Relevant Experience: 22 Sirius Tenure: 32 | Relevant Experience: 32 Sirius Tenure: 2 | Relevant Experience: 19 Neal Wasserman| Global Solutions CEO Edward Park| Group Tax Director Sirius Tenure: 18 | Relevant Experience: 32 Sirius Tenure: 2 | Relevant Experience: 20

Executive Management Committee

Monica Cramér-Manhem| Group COO, Sirius International - President & CEO

Other Global Corporate Team Members

Jeff Davis| Group Chief Actuary & CRO Ralph Salamone| Global Services President Matthew Kirk| Investment Advisors President Sirius Tenure: 10 | Relevant Experience: 27 Sirius Tenure: 21 | Relevant Experience: 30 Sirius Tenure: 16 | Relevant Experience: 23

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    

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  • $30

$57 $47 $34 $48 $98 $51 $64 $1 $23

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2018 YTD 2017 (2) 2016 (2) 2015 (2) 2014 2013

Income Statement Data:

Gross Written Premiums 1,518 $ 1,439 $ 1,269 $ 1,161 $ 1,137 $ 1,120 $ Net Earned Premiums 915 1,035 890 847 874 866 Net Underwriting Income (Loss) 56 (79) 53 127 205 155 Comprehensive Net Income 56 (78) (34) 196 186 88 "Cash" Comprehensive Net Income (3) 65 (58) 19 206 186 88

Balance Sheet Data:

Total Cash and Investments 3,641 3,604 3,815 3,678 3,290 3,345 Total Assets 6,259 5,824 5,167 5,092 5,192 5,290 Debt 698 723 396 403 403 400 Total Liabilities 4,176 3,800 2,927 2,883 3,180 3,413 Common Equity 1,973 1,917 1,988 1,959 1,763 1,627 Total Liabilities & Equity 6,259 5,824 5,167 5,092 5,192 5,290

Key Financial Indicators:

Adjusted GAAP Combined Ratio 93.9% 107.6% 93.1% 83.9% 76.5% 82.1% Adjusted GAAP Combined Ratio excl. Cats 85.1% 82.6% 81.0% 81.5% 69.8% 72.3% Total Insurance Float (4) 1,493 $ 1,427 $ 1,315 $ 1,387 $ 1,593 $ 1,849 $ Book Value Per Share 16.44 $ 15.98 $ 16.57 $ 16.33 $ 14.69 $ 13.56 $ (1) See appendix for reconciliation of non-GAAP measures. (2) Results exclude after-tax transaction charges of $11m, $52m, and $10m in 2017, 2016, and 2015, respectively related to the acquisition of Sirius Group by CMIG International. (3) Cash earnings equals comprehensive net income plus non-cash amortization expenses as well as transaction related costs. (4) Standard industry definition, not audited. For the Year Ended, ($ in millions)

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($ in millions) IMG Armada

slide 14 - IMG and Armada EBITDA:

2017 GAAP pre-tax income (loss) (0.6) $ 14.8 $ add: amortization 1.7

  • add: depreciation

11.2 0.5 add: interest 10.1

  • EBITDA

22.4 15.3 transaction related gains/expenses and other costs (2.4) 3.4 adjusted EBITDA 20.0 $ 18.7 $ 2018 YTD 2017 2016 2015 2014 2013

slide 20 - "cash" comprehensive net income

GAAP after-tax comprehensive net income (loss) 56 $ (78) $ (34) $ 196 $ 186 $ 88 $ adjust: removal of one-time WTM/CMIG transaction costs

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  • adjust: non-cash PGAAP amortization expense

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  • adjust: accrued preference share dividends

(3) (6)

  • "cash" comprehensive net income

65 $ (58) $ 19 $ 206 $ 186 $ 88 $

slide 20 - combined ratio

GAAP legal entity combined ratio 93.9% 107.6% 94.0% 85.0% 76.5% 82.1% adjust for WTM related ILW costs from CMIG transaction 0.0% 0.0%

  • 0.8%
  • 1.1%

0.0% 0.0% adjusted GAAP combined ratio 93.9% 107.6% 93.1% 83.9% 76.5% 82.1% adjusted GAAP combined ratio 93.9% 107.6% 93.1% 83.9% 76.5% 82.1% remove actual catastrophe losses incurred

  • 8.8%
  • 25.0%
  • 12.1%
  • 2.4%
  • 6.7%
  • 9.8%

adjusted GAAP combined ratio excluding cats 85.1% 82.6% 81.0% 81.5% 69.8% 72.3% ($ in millions) For the Year Ended,