Strong Financial Metrics
Operating ROE in high teens and combined ratio in mid-80s, demonstrating continued underwriting discipline. Book value per share increased by over 20% year-over-year to $18.90.
Significant Growth in Primary Lines
Net insurance revenue increased 16% driven by surety, warranty, and corporate insurance lines. Surety net insurance revenue grew 25% year-over-year.
U.S. Programs and Investment Income Growth
U.S. programs saw 18% growth in gross written premiums with admitted business reaching a record $179 million. Investment income reached $20 million, up 24% year-over-year.
Expansion into U.S. Markets
Continued investment in U.S. expansion, particularly in surety and corporate insurance, with the U.S. surety platform now contributing over 40% of surety premiums.