Good morning, ladies and gentlemen, and welcome to the SiriusPoint Limited Third Quarter 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the call over to Ms. Clare Kerrigan, Head of Investor Relations for SiriusPoint. Please go ahead.

Thank you, operator. Welcome to the SiriusPoint Limited Earnings Call for the third quarter of 2021. Last night, we issued our third quarter Form 10-Q and earnings press release and financial supplements, which are available on our website, www.siriuspt.com. With me here today are Sid Sankaran, our Chairman and Chief Executive Officer; and David Junius, our Chief Financial Officer. Before we begin, I would like to remind you that many of the remarks today will contain forward-looking statements based on current expectations. Actual results may differ materially from those projected as a result of certain risks and uncertainties. Please refer to the earnings press release and the company’s other public filings, including the recent Form 10-Q and the Form 10-Q for the period ended March 31, 2021 and June 30, 2021, where you will find risk factors that could cause actual results to differ materially from these forward-looking statements. In addition, management will refer to certain non-GAAP financial measures, which management believe allow for a more complete understanding of the company’s financial results. A reconciliation of these non-GAAP measures to the most comparable GAAP measure is presented in the company’s earnings press release that is available on our website. At this time, I will turn the call over to Sid.

Thank you, Clare, and good morning, everyone. It’s been an eventful third quarter for the industry and for SiriusPoint. I’m going to share my perspective on the market, our results this quarter and the work we’ve undertaken to position SiriusPoint for sustainable and profitable growth. This includes working to shift the mix between the insurance and reinsurance portions of our portfolio, applying changes to our legacy books by addressing lines of business that no longer fit our risk appetite, our continued and growing investment in our insurance and services platform and our planned rebalancing of our investment portfolio. We believe all of this will shape our future growth and create value for our stakeholders. To begin, the third quarter exacerbated what has been another significant catastrophe year, highlighting the frequency and severity of secondary perils impacts on market losses. SiriusPoint’s losses for Hurricane Ida and the European floods are based on estimated insured market losses of $40 billion and $14 billion, respectively. David will address our loss position, a robust approach to reserving and the significant strength of our balance sheet in his remarks. The losses the industry has reported, not just this quarter but in the past few years, served to validate our focus on managing the volatility of our Property business as we continue to implement the changes identified by our line-by-line business review. While we have a strong balance sheet to absorb these losses, we’re making strong progress managing our books to derisk by exiting risks that no longer fit our risk profile or where we do not see attractive risk-adjusted returns. Since the close of the merger in February, we made strides reducing our catastrophe exposure through modest additional reinsurance purchases and rebalancing the overall portfolio to non-cat lines, including accident and health, credit, aviation and…

Thanks, Sid. For the third quarter, we generated a net loss of $48 million or $0.34 per diluted share versus net income of $69 million or $0.73 per diluted share in the quarter a year ago. Our annualized return on average common equity was negative 7.8% for the quarter. We had a net underwriting loss of $266 million for the third quarter and a combined ratio of 151.9%, which compares to a net underwriting loss of $30 million and a combined ratio of 121% in the third quarter of 2020. The increase in net underwriting loss was primarily driven by third quarter catastrophe losses in Europe and North America. Our current quarter combined ratio included $287 million of cat losses or 55.9 percentage points compared to 20.9 percentage points in the quarter a year ago. In addition, the Runoff & Other segment recorded $7 million of accelerated expenses as we took decisive action on legacy float-driven contracts that do not meet our cost of capital. Looking at underwriting in more detail. Total cat losses came primarily from European floods and Hurricane Ida. During the middle of July, heavy rainfall associated with the low pressure system burn led to severe flooding in Western Europe particularly in several German states as well as Luxembourg, parts of Belgium, France and the Netherlands. We provided an estimated loss range of $70 million to $100 million based on an estimated industry loss of EUR 10 billion on September 9. Based on additional information and an updated view of industry loss to $14 billion, we now have reported losses net of reinsurance and reinstatement premiums of $132 million. We have taken into account the high level of uncertainty that exists for this event, in particular due to the potential impact of demand surge from a shortage…

Thanks, David. SiriusPoint launched into one of the best markets reinsurers have experienced in a long time. We’ve been working from day 1 to address a balance of business while leveraging our global platform and relationships to benefit from the opportunities that market conditions have created. Our focus remains on reducing volatility and delivering sustainable underwriting profitability and superior return for our shareholders. This will be achieved by the rebalancing of our portfolio combined with rigorous risk management and disciplined underwriting. As I look forward to 2022, I’m very excited about our prospects. We expect the results of our portfolio review, our actions to address our mix of business, the green shoots of returns from our partnership and investment strategy to be evident. Our team and global platform will be established, our balance sheet strong and our prospects bright. Thank you for your time. I’ll turn the call back over to the operator. End of Q&A: Thank you. This concludes today’s conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.