Record Combined Ratio
The company reported a combined ratio of 79% for the quarter, which is their best since becoming publicly traded and an improvement of more than 8 points from the same quarter last year.
Strong Operating ROAE
Annualized operating return on average equity (ROAE) was 21.4%, representing an increase of 5 points year over year.
Growth in Gross Premiums Written
Gross premiums written increased by 8% to $798 million in the quarter and the year-to-date figure stands at $3.7 billion, also an increase of 8% compared to the same period last year.
Reinsurance Premium Growth
The reinsurance segment delivered 20% year-on-year premium growth, driven by enhanced pricing and new business opportunities following events like the California wildfires.
Strategic Share Repurchase
Repurchased 1.8 million common shares for $32 million at an average price of $17.40 per share in the third quarter. Subsequent repurchases bring the total to 9.6 million shares for 2025.