Trisura Group Announces Robust Q1 2025 Financial Results
Trisura Group, a specialty insurance provider, has reported strong financial results for the first quarter of 2025. The company’s operating net income reached CA$34.2 million, driven by business expansion. Operating earnings per share were CA$0.70, representing a 2.9% increase from the same period last year.
The company achieved an operating return on equity of 18.4%, up from 15.0% in Q1 2024. Trisura’s book value reached CA$820 million, supported by a debt-to-capital ratio of 10.7%, providing flexibility for continued growth. Gross premiums written were CA$711.7 million, a 1.6% decrease from the previous year, primarily due to non-renewed US programs, partially offset by growth in its primary lines segment.
Key Highlights
- Net insurance revenue increased by 12.8% to CA$172.7 million, driven by growth in primary lines
- Underwriting income rose 1.7% to CA$29.9 million due to business expansion and foreign exchange fluctuations
- Net investment income grew 8.6% supported by a larger investment portfolio
- US Surety business expansion continued with 33 state licenses secured in Treasury-listed entity
Trisura’s financial stability is reflected in its capital ratios. As of March 31, 2025, the minimum capital test ratio for its regulated Canadian subsidiary was 273%, well above the 150% regulatory requirement. The risk-based capital of its US regulated insurance companies also exceeded state minimum requirements.
The company’s strategic growth initiatives and financial management have positioned it well for future expansion while maintaining a strong capital position. The consolidated debt-to-capital ratio stood at 10.7%, below the company’s long-term target of 20%, indicating significant capacity for further growth through strategic investments or acquisitions.
