27th July 2022
Combined ratio of 78.3% with strong performance across both segments.93.8 Casualty and Specialty combined ratio, an improvement of 4 percentage points from Q2 2021.
-23.2% growth in net premiums written; 37.6% growth in Casualty and Specialty and 10.5% in Property.
-Annualized return on average common equity of (25.1)% driven by significant mark-to-market losses
in the investment portfolio
-18.4% annualised operating return on average common equity -Net Loss attributable to Common Shareholders per Diluted Common Share: $(7.53)
-Operating Income available to Common Shareholders per Diluted Common Share: $5.51m
-Underwriting Income $316.4m
-Fee Income-$34.3m
-Net Investment Income $107.2m-up 32.5%
-23.2% growth in net premiums written; 37.6% growth in Casualty and Specialty and 10.5% in Property.
Kevin J. O’Donnell, president and ceo, comments “We reported a strong quarter, with continuing top line growth and solid operating profitability demonstrating the power of our diversified platform. Our financial results were driven by strong performance across both underwriting segments, a
significant increase in net investment income and an expanding Capital Partners business. We are pleased with our 18.4% annualised operating return on average common equity during the quarter, and are confident that our consistent strategy, leadership in a strengthening market and robust capital position will enable us to continue maximising shareholder value.”
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