Record Book Value and Strong Operating ROE
Book value grew 21% to a new record of $843 million, and operating ROE was 18%, showcasing strong financial performance.
Significant Growth in Surety and Warranty Lines
Surety gross premiums written grew 61%, with underwriting income increasing over 150%. Warranty premiums grew 39%, highlighting robust performance in these segments.
Expansion of U.S. Surety Business
The U.S. Surety balance sheet was increased to $100 million, enhancing the size of bonds that can be issued, demonstrating confidence in the platform.
Record Admitted Business Premiums
Admitted business in the U.S. programs now contributes over $150 million of premium, marking a record quarter.
Investment Portfolio Growth
The investment portfolio increased to $1.6 billion, generating $18.9 million in interest and dividend income, up 12% over the previous year.