Good morning, ladies and gentlemen and welcome to the SiriusPoint Limited Third Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the call over to Dhruv Gahlaut, Head of Investor Relations and Chief Strategy Officer. Please go ahead, sir.

Thank you, operator and good morning, good afternoon to everyone listening. I welcome you to the SiriusPoint earnings call for the 2023 nine months and third quarter results. Last night, we issued our earnings press release and financial supplement, which are available on our website, www.siriuspt.com. Additionally, our webcast presentation will coincide with today’s discussion and is available on our website. With me here today are Scott Egan, our Chief Executive Officer and Steve Yendall, our Chief Financial Officer. Before we start, I would like to remind you that today’s remarks contain forward-looking statements based on management’s current expectations. Actual results may differ. Certain non-GAAP financial measures will also be discussed. Management uses the non-GAAP financial measures in its internal analysis of results and believes that they are informative to investors in gauging the quality of our financial performance and identifying trends in our results. However, these measures should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. Please refer to Page 2 of our investor presentation for additional information and the company’s latest public filings. At this time, I will turn the call over to Scott.

Thank you, Dhruv and good morning, good afternoon, everyone. Thank you, as always, for joining our third quarter results call. This has been another strong quarter of results for SiriusPoint, and we’ve delivered our first ever underwriting profit in the third quarter since the group was formed and our fourth consecutive quarter of positive underwriting results. The actions we have been taking are having a demonstrable impact and our performance is improving. Our results and balance sheet are getting stronger, and their overall quality is improving, which serves us well as a platform for further improvement in 2024, which is our aim. I am pleased with our progress, but I also recognize there is much more to do. There is much determination, but no complacency. I’d like to provide some comments on two areas before we get into the results. We entered into a standstill agreement with Mr. Daniel Loeb in August. This agreement comes after Mr. Loeb and certain affiliates filed a 13-D regarding a potential transaction to acquire the company in April and a subsequent 13-D filing with the decision to conclude the exploratory discussions in May. The standstill agreement removes any lingering uncertainty and underlines Mr. Loeb’s full support for the strategy and progress he outlined in his 13-D. Secondly, I want to reflect on my first 12 months at SiriusPoint. I believe we have made significant progress and performance has improved. We remain committed to building a strong unified culture in order to achieve our ultimate ambition of being a best-in-class insurer reinsurer. We know we have a way to go but the last 12 months is a good start. We continue to operate with an underwriting first approach. It’s important to create the right blend of culture, leadership and inclusion to attract and retain talent.…

Thank you, Scott, and good morning, good afternoon, everyone. I will now take you through the financial section of the presentation, and we will start with Slide 10, looking at our 9 months financials for 2023. We delivered positive profits and generated capital across all three sources of earnings, underwriting, MGA fee income, and investments during the last three quarters. Net income to SiriusPoint common shareholders at $245 million was up $621 million versus prior year as our results last year were mainly impacted by negative investment returns and higher cat losses. During the 9 months ended of 2023, core underwriting results improved as we delivered underwriting profits of $213 million, which benefited from $102 million of reserve redundancy linked to the LPT transaction. Excluding the release linked to the LPT, underwriting profits were $111 million with a combined ratio of 93.5. Our portfolio actions are having an impact, given cat losses for the core business were down to $14 million year-to-date compared to $138 million in the same period of the prior year. More detail on our cat losses is available on Slide 7. Gross premiums written for the core business increased 3%, driven by reinsurance, which was down $202 million and partially offset by insurance and services, which increased $129 billion. The decline in reinsurance premiums was a result of the already announced portfolio restructuring actions we have taken in the International Property segment. Capital light net services fee income increased by 11% at $38 million versus $34 million last year, while service revenues are up 7% versus last year, and margins are up to 21%. Total investment result was strong at $208 million and driven by $205 million of net investment income, while unrealized and realized gains including related party were $2 million and significantly better than…

Thank you, sir. Ladies and gentlemen, that then concludes today’s conference. Thank you for joining us. You may now disconnect your lines.