Trisura Group publishes This fall, full-year outcomes

Trisura Group publishes This fall, full-year outcomes | Insurance coverage Enterprise America

Chief government cites “sturdy operational efficiency”

Trisura Group publishes Q4, full-year results

Insurance coverage Information

Terry Gangcuangco

Trisura Group has launched its monetary outcomes for the quarter and yr ended December 31, 2023.

Right here’s how the specialty insurance coverage supplier fared within the durations:


This fall 2023

This fall 2022

FY 2023

FY 2022

Insurance coverage income

CA$755 million

CA$595.7 million

CA$2.8 billion

CA$2 billion

Web revenue (loss)

CA$11.3 million

CA$(40.7 million)

CA$66.9 million

CA$27.8 million

Working web revenue

CA$25.9 million

CA$23.5 million

CA$110.2 million

CA$83.3 million

Of the insurance coverage income within the fourth quarter, CA$227.4 million was generated in Canada; CA$527.5 million within the US. Each Trisura Canada and Trisura US posted will increase from the identical three-month span in 2022.

“Trisura ended the yr with sturdy operational efficiency,” president and chief government David Clare mentioned in a launch. “Working web revenue of CA$25.9 million within the quarter, or CA$0.54 per share, was achieved by means of measured progress, worthwhile underwriting, and enhanced funding revenue – supporting annual working web revenue of over CA$110 million.

“Quarterly web revenue of CA$11.3 million, or CA$0.23 per share, was impacted by the run-off of a US program, partially offset by unrealized features within the funding portfolio.”

The CEO added: “Our enterprise stays well-capitalized, supported by surplus capital, a CA$50 million revolving credit score facility, a ten.8% debt-to-capital ratio, and a conservatively positioned funding portfolio.”

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