Canada's Trisura Q3 insurance revenue rises

By Reuters News


Overview

  • Canada specialty insurer's Q3 net insurance revenue rose 2.9% yr/yr, driven by primary lines growth


Outlook

  • Company expects to maintain capital above regulatory and internal targets to fund operations

  • Company sees long-term growth opportunities in US Primary lines

  • Company says balance sheet flexibility will support expansion of North American specialty platform


Result Drivers

  • PRIMARY LINES GROWTH - Co said net insurance revenue and underwriting income were driven by momentum and improved profitability in US Surety and US Corporate Insurance

  • INVESTMENT INCOME - Higher net investment income helped offset weaker results in US Programs

  • US PROGRAMS CLAIMS - Higher loss ratio was mainly due to unfavourable claims in US Programs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Insurance revenue

C$203.1 mln

Q3 EPS

C$0.54

Q3 Combined Ratio

87.5%

Q3 Operating ROE

16.2%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the property & casualty insurance peer group is "buy"

  • Wall Street's median 12-month price target for Trisura Group Ltd. is C$56.00, about 30.6% above its November 4 closing price of C$42.89

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Nov 3 - Canadian insurer Intact Financial Q3 adj EPS misses estimates

  • Nov 3 - Insurer American Financial Group's Q3 adj EPS beats on underwriting and premium growth

  • Nov 3 - British insurer Hiscox's nine-month premiums rise on retail demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.