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Conduit Holdings Ltd - Bermuda-based reinsurer - Says gross written premiums for the nine months to September 30 grew 50% to $764.4 million from $508.7 million a year ago. Estimated ultimate written premiums in the nine-month period grew 56% to $909.3 million from $581.4 million the year before. Looking ahead, says it is well-placed for continued growth due to ‘supply-demand imbalance’ as demand for reinsurance continues to exceed supply and provide positive momentum.
Chief Executive Officer Trevor Carvey says: ‘The third quarter has been a great period for us at Conduit Re. Renewals and new business alike have contributed to the growth of our portfolio, with the non-catastrophe and speciality space continuing to receive much of our attention. The estimated ultimate premiums written of $909.3 million in the first nine months of 2023 represented an increase of 56.4% over the same period last year and our underwriting teams continue to deploy capacity efficiently in this dynamic marketplace across a broad range of both quota share and excess of loss opportunities.’
Current stock price: 448.00 pence, up 3.6%
12-month change: up 24%
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