Trisura Group Reports Third Quarter 2026 Results

David Clare, President and CEO of Trisura Group

“Our Primary lines continued to build momentum, with Net insurance revenue growing 12.5% and Underwriting income growing 15.5%, supported by improving profitability in both US Surety and US Corporate Insurance. We have contributed more than $200 million of capital to our treasury-listed US Surety entity and secured the state licenses to support its growth. Our progress in expanding US Primary lines reinforces our confidence in their ability to deliver attractive long-term growth and earnings. Operating net income was stable at $35 million in the quarter, as 18.5% growth in Net investment income offset unfavourable casualty experience in US Programs. Our teams have taken action to improve casualty results, which were impacted by a small number of programs, including programs in run-off. Operating ROE was strong at 16.2%, and book value per share increased 10.7% over the last year to $20.93. The slight decline in book value from the second quarter was driven by unrealized investment losses. With a strong capital position and a 17.4% Debt-to-capital ratio, well below our 25% long-term target, our balance sheet gives us the flexibility to continue scaling our North American specialty platform and to deploy capital with discipline toward accretive opportunities.”