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November 7, 2024 Reinsurance No comments

Q3 2024 Financial Supplement

Canadian Markets via PUBT

Trisura Group Ltd.

Financial Supplement

As at September 30, 2024 (Unaudited)

Accounting Changes and Disclosure Matters

(Unaudited)

Page 1

The current supplementary financial information is following the adoption of IFRS 17 and IFRS 9(1)
- Figures reflect both IFRS 17 and IFRS 9 metrics, as well as IFRS 4 metrics where the calculation has been impacted by the adoption of IFRS 17 and/or IFRS 9
- IFRS 17 became effective on January 1, 2023, with a transition date of January 1, 2022
- - Applied using a full retrospective approach, recognizing any difference in equity
  - Figures reflect IFRS 17 (Q1, Q2, Q3 & Q4 2022 restated)
- IFRS 9 became effective for insurance entities on January 1, 2023 and the Company has elected not to restate comparative periods
- - Q1, Q2 & Q3 2024, Q1, Q2, Q3 & Q4 2023 figures reflect IFRS 9

(1) Please refer to Section 10 - Accounting and Disclosure Matters - Changes in Accounting Policies in the September 30, 2024 MD&A for additional detail.

Index

(Unaudited)

Page 2

1 - Notes to the Financial Supplement

Important Notes
Important Definitions

2 - Financial Highlights

Financial Results
Underwriting Results
ROE and Book Value
Capitalization

3 - Shareholder Information

Shares Outstanding/Traded
Common Share Performance
Ratings

4 - Comprehensive Income & Loss

4.1 Comprehensive Income and Loss

5 - Segmented Underwriting & Performance

Trisura Specialty(1)

Trisura Specialty
Surety
Warranty
Canadian Fronting
Corporate Insurance

3-5

6-7

7-8

10 - 12

11-13

6 - Segmented Underwriting & Performance	13
	- Trisura US Programs (1)
	6.1	Trisura US Programs
7	- Corporate and Other	14
	7.1	Corporate and Other
8	- Segmented Highlights	15

Insurance Revenue By Business Line
Book Value

9 - Financial Position	16
9.1	Statements of Financial Position
9.2	Capital Ratios
10 - Investment Portfolio	17
10.1	Total Portfolio
10.2	Fixed Income Credit Quality
10.3	Fixed Income Maturity Schedule
		19

During Q2, 2024 the business segments were renamed "Trisura Specialty" (formerly "Trisura Canada") and "Trisura US Programs" (formerly "Trisura US"). The composition of the segments has been unaffected by this change.

1.1 - Important Notes

(Unaudited)

Page 3

Important Notes

Please note these statements are unaudited. For additional information, please refer to our MD&A and Consolidated Financial Statements. Financial reports are reported under International Financial Reporting Standards (IFRS). We use both IFRS and non-IFRS measures to assess performance. Non-IFRS measures do not have any standardized meanings prescribed by IFRS and are unlikely to be comparable to any similar measures presented by other companies.

This Financial Supplement contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of our Company and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as "expects," "likely," "anticipates," "plans," "believes," "estimates," "seeks," "intends," "targets," "projects," "forecasts" ", "potential" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would" and "could".

Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of our Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the behaviour of financial markets, including fluctuations in interest and foreign exchange rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; insurance risks including pricing risk, concentration risk and exposure to large losses, and risks associated with estimates of loss reserves; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the ability to appropriately manage human capital; the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; governmental investigations; litigation; changes in tax laws; changes in capital requirements; changes in reinsurance arrangements and availability and cost of reinsurance; ability to collect amounts owed; catastrophic events, such as earthquakes, hurricanes or pandemics; the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; risks associated with reliance on distribution partners, capacity providers and program administrators; third party risks; risk that models used to manage the business do not function as expected; climate change risk; risk of economic downturn; risk of inflation and other risks and factors detailed from time to time in our documents filed with securities regulators in Canada.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, our Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

1.2 - Important Definitions

(Unaudited)	Page 4

Term		Definition and Usefulness

Book Value per Share	•	Shareholders' equity, divided by total number of shares outstanding. Used to calculate theper-sharevalue of a company based on equity
		available to common shareholders.

Ceded Premiums Written	•	Premiums ceded to reinsurers in the period. Used by Management for internal measurement, budgeting and forecasting purposes.
		Management views the figure to be useful forward-looking information to measure growth and profitability.

Combined Ratio	•	The sum of the loss ratio and the expense ratio. The difference between 100% and the combined ratio represents underwriting income as a
		percentage of Net Premiums Earned ("NPE"), or underwriting margin. A combined ratio under 100% indicates a profitable underwriting result. A
		combined ratio over 100% indicates an unprofitable underwriting result. A measure to evaluate pre-tax underwriting profitability.

Debt-to-Capital Ratio	•	Total Debt outstanding at the end of the reporting period, divided by sum of: Debt outstanding balance and Shareholders' equity.

Expense Ratio	•	Insurance service expense plus Other operating expenses (net of Other income, which reflects surety fee income, in our Canadian operations)
		as a percentage of NPE. A measure to evaluate pre-tax underwriting profitability.

Fee Income	•	A portion of Net income or expense from reinsurance contracts assets, which reflects fees received from reinsurers paid in exchange for
		fronting services. A measure used to evaluate profitability.
Fees as a Percentage of Ceded	•	Fee income, adjusted to reflect the portion of fee income bound in a period, rather than recognized as revenue in a period, divided by Ceded
Premium		Premiums Written excluding certainnon-recurringitems. Illustrates the rate of fee income generated from ceded premium, and can supplement
		measurements of pre-tax underwriting profitability.

Fronting Operational Ratio	•	The sum of net claims and loss adjustment expenses, net commissions and operating expenses divided by the sum of NPE and fronting fees.
		A measure of pre-tax underwriting profitability.

Gross Premium Written	•	Insurance revenue, adjusted to reflect insurance revenue bound in the period inclusive of any portion of that premium not yet recognized as
		revenue. Used by Management for internal measurement, budgeting and forecasting purposes. Management views the figure to be useful
		forward-looking information to measure growth.

Loss Ratio	•	Net claims expense as a percentage of NPE. A measure of claims used to evaluate pre-tax underwriting profitability.

1.2 - Important Definitions (continued)

(Unaudited)	Page 5

Term		Definition and Usefulness

Minimum Capital Test ("MCT")	•	Our regulated Canadian operations report the results of its MCT as prescribed by the Office of the Superintendent of Financial Institutions
		Canada's ("OSFI") Guideline A - Minimum Capital Test for Federally Regulated Property and Casualty Insurance Companies, as amended,
		restated or supplemented from time to time. MCT determines the supervisory regulatory capital levels required by our regulated Canadian
		operations.

Net Claims Expense	•	The portion of Insurance service expenses related to movement in the Liability for Incurred claims, less the portion of Net expense from
		reinsurance contracts assets related to the Asset for incurred claims, plus the finance (expense) income from insurance and reinsurance
		contracts. A measure of pre-tax underwriting profitability.

Net Premiums Earned	•	The sum of Net Premiums Written and an adjustment to reflect the portion of Net Premiums Written that has been recognized as revenue in a
		given period. Used by Management for internal measurement, budgeting and forecasting purposes. Management views the figure to be useful
		to measure growth and profitability.

Net Premiums Written	•	The difference of Gross Written Premium less Ceded Premiums Written. Used by Management for internal measurement, budgeting and
		forecasting purposes. Management views the figure to be useful forward-looking information to measure growth and profitability.

Net Underwriting Revenue	•	The sum of net premiums earned and fee income. A measure used in calculating Net underwriting income.

Net Underwriting Income	•	Net Premiums Earned, less Insurance service expense, expense from reinsurance contracts assets, and Other operating expenses, plus Other
		income and Finance income (expense) from insurance or reinsurance contracts. A measure ofpre-taxunderwriting profitability.

Operating Net Income	•	Net income, adjusted to remove impact of certain items to normalize earnings in order to reflect our North American specialty operations, which
		are considered core operations. Items which are not core to operations include Net gains (loss), ECL, the impact of movement in the yield curve
		included in Finance income (expense) from insurance/reinsurance contracts, and Net loss (gain) from life annuity. Adjustments also include
		items which may not be recurring, such as the write-down of reinsurance recoverables, loss from run-off programs, loss on sale of structured
		insurance assets, and certain tax adjustments. Adjustments also include SBC. A measure ofafter-taxprofitability, used in calculating Operating
		EPS and Operating ROE.
Operating Net Underwriting	•	Net underwriting income, incorporating the adjustments to Operating net income, which impact the Net underwriting income, in order to reflect
Income		our core operations. A measure of pre-tax underwriting profitability.

Operating Retuon Equity	•	ROE calculated using Operating net income for the twelve-month period preceding the reporting date. An alternate measure ofafter-tax
		profitability, adjusted for certain items to normalize earnings to core operations in order to better reflect our North American operations.

Premiums to Capital	•	Gross premiums written generated during a given period, annualized, and divided by Trisura US Program's end of period shareholders' equity.
(United States)		A measure used to evaluate operational leverage.

Retuon Equity	•	Net income for the twelve-month period preceding the reporting date, divided by the average common shareholders' equity over the same
(Last Twelve Months)		period, adjusted for significant capital transactions, if appropriate. A historical measure ofafter-taxprofitability.


Other Non-Operating Income	•	Income or expenses which are not core to operations. A measure used in calculating Operating net income.
(Expense)

2 - Financial Highlights

(Unaudited)																			Page 6

2 - Financial Highlights			2024				2023					2022		2024	2023	2023	2022
(in 000s of CAD, except otherwise noted)		Q3	Q2	Q1		Q4	Q3	Q2	Q1		Q4	Q3	Q2		Q3 YTD		Q3 YTD	Annual		Annual
2.1 - Financial Results
Gross Premiums Written(1)	767,756	956,118	723,014	739,195	769,944	801,756	660,456	664,802	644,820	642,215	2,446,888	2,232,156	2,971,351	2,433,217
Change Y/Y	(0.3%)	19.3%	9.5%	11.2%	19.4%	24.8%	37.2%	37.2%	59.3%	76.7%	9.6%	26.2%	22.1%	55.7%
Net Premiums Written(1)	205.703	230,265	161,757	173,194	173,155	137,818	113,064	137,594	106,414	145,933	597,725	424,037	597,231	498,111
Net Premiums Earned(1)	185,459	163,296	149,493	140,849	152,718	155,911	138,097	115,605	111,996	102,671	498,248	446,726	587,575	418,621
Operating Net Underwriting Income(Loss) - Trisura Specialty	19,180	14,380	18,937	18,182	22,176	16,045	18,570	13,872	15,156	14,467	52,496	56,790	74,972	59,089
Operating Net Underwriting Income(Loss) - Trisura US Programs		9,786	11,031	10,423		(174)	8,825	8,170	9,939		8,853	7,129	7,455		31,239		26,935	26,761		32,525
Operating Net Underwriting Income(Loss)	28,966	25,411	29,360	18,008	31,001	24,215	28,509	22,725	22,285	21,922	83,735	83,725	101,733	91,614
Net Investment Income	16,252	16,902	16,753	16,206	13,493	11,899	10,071	9,479	6,583	5,077	49,907	35,463	51,669	25,162
Other Finance Costs	(998)	(711)	(614)	(565)	(643)	(601)	(600)	(588)	(823)	(642)	(2,323)	(1,844)	(2,409)	(2,644)
Adjusted Other Operating Expenses	(523)	(585)	(1,236)	(269)	(1,175)	(1,091)	(727)	(177)	(828)	(556)	(2,343)	(2,993)	(3,262)	(2,394)
Pre-tax Operating Income		43,697	41,018	44,263		33,380	42,676	34,421	37,253		31,439	27,217	25,802		128,978		114,351	147,730		111,738
Operating Income Tax Benefit (Expense)	(10,469)	(9,765)	(11,075)	(7,505)	(10,952)	(8,390)	(8,640)	(7,920)	(6,101)	(6,731)	(31,309)	(27,982)	(35,487)	(27,375)
Operating Net Income(2)		33,228	31,253	33,188		25,875	31,724	26,032	28,613		23,519	21,116	19,071		97,669		86,369	112,244		84,363
Non-operating Results	2,860	(4,112)	3,245	(14,555)	(16,886)	775	(14,637)	(64,229)	3,108	1,872	1,993	(30,748)	(45,303)	(56,568)
Net Income		36,088	27,141	36,433		11,320	14,838	26,807	13,976		(40,710)	24,224	20,943		99,662		55,621	66,941		27,795
Insurance Revenue	807,645	772,249	744,266	754,953	730,714	664,420	639,100	595,742	550,861	464,643	2,324,160	2,034,234	2,789,187	2,014,915
Change Y/Y	10.5%	16.2%	16.5%	26.7%	32.7%	43.0%	58.3%					14.3%	43.3%	38.4%
Insurance Service Expenses	(702,514)	(582,657)	(580,940)	(615,167)	(562,419)	(567,217)	(500,443)	(474,120)	(547,859)	(407,172)	(1,866,111)	(1,630,079)	(2,245,246)	(1,742,601)
Net Expense and Income From Reinsurance Contracts Assets	(69,539)	(158,187)	(127,878)	(135,627)	(143,546)	(57,491)	(121,942)	(175,384)	25,588	(30,019)	(355,604)	(322,979)	(458,606)	(243,128)
Insurance Service Result		35,592	31,405	35,448		4,159	24,749	39,712	16,715		(53,762)	28,590	27,452		102,445		81,176	85,335		29,186
Total Investment Income	27,307	17,214	27,199	25,264	4,527	5,408	7,707	13,591	10,306	6,518	71,720	17,642	42,906	33,964
Net Insurance Finance Expenses and Income	(4,226)	(1,599)	(3,858)	(4,205)	(898)	(287)	(4,726)	(400)	281	1,179	(9,683)	(5,911)	(10,116)	1,817
Net Insurance and Financial Result		58,673	47,020	58,789		25,218	28,378	44,833	19,696		(40,571)	39,177	35,149		164,482		92,907	118,125		64,967
Net Income and Loss		36,088	27,141	36,433		11,320	14,838	26,807	13,976		(40,710)	24,224	20,943		99,662		55,621	66,941		27,795
Comprehensive Income and Loss		50,428	30,511	45,372		19,772	16,664	16,936	19,897		(44,663)	23,927	(1,460)		126,311		53,497	73,269		(19,912)
Net Income and Loss Per Share (Basic) ($ per share)		0.76	0.57	0.77		0.24	0.32	0.58	0.30		(0.89)	0.54	0.51		2.09		1.20	1.44		0.64
Net Income and Loss Per Share (Diluted) ($ per share)	0.74	0.56	0.75	0.23	0.31	0.57	0.30	(0.87)	0.53	0.50	2.05	1.18	1.42	0.63
Operating Net Income Per Share (Basic) ($ per share)(2)(3)	0.70	0.66	0.70	0.54	0.68	0.57	0.58	0.51	0.47	0.46	2.05	1.83	2.37	1.92
Operating Net Income Per Share (Diluted) ($ per share)(2)(3)	0.68	0.65	0.68	0.54	0.67	0.56	0.57	0.50	0.46	0.45	2.01	1.80	2.34	1.88
Net Gains (Losses)	(11,379)	(462)	(12,276)	(8,132)	8,708	6,867	2,215	(4,112)	(3,723)	(1,441)	(24,117)	17,790	9,658	(8,802)
Movement in Yield Curve(4)	2,061	(23)	(436)	2,071	(1,204)	(2,314)	4,726	255	(421)	(1,316)	1,602	1,208	3,279	(2,239)
Non-recurring Items(5)	4,226	3,874	3,714	23,744	15,375	(6,629)	14,691	81,473	-	-	11,814	23,437	47,181	81,550
Net Credit Impairment Losses	324	150	1,830	(926)	258	(376)	149	-	-	-	2,304	31	(895)	-
Impact of SBC	1,030	393	2,923	1,589	(1,949)	1,815	(3,370)	3,991	441	194	4,346	(3,504)	(1,915)	1,484
Tax Impact of Above Items		878	180	1,000		(3,791)	(4,302)	(138)	(3,774)		(17,378)	595	691		2,057		(8,214)	(12,005)		(15,425)
Non-operating Results	(2,860)	4,112	(3,245)	14,555	16,886	(775)	14,637	64,229	(3,108)	(1,872)	(1,993)	30,748	45,303	56,568
2.2 - Underwriting Results
Trisura Specialty
Loss Ratio(3)	18.9%	19.6%	15.6%	20.6%	10.4%	18.7%	14.6%	19.8%	16.2%	14.1%	18.1%	14.4%	16.1%	16.3%
Combined Ratio(3)	85.6%	89.8%	81.8%	85.8%	75.0%	82.9%	80.7%	83.4%	81.8%	79.9%	85.8%	79.3%	81.1%	80.7%
Trisura US Programs
Loss Ratio	86.0%	67.7%	71.9%	202.7%	103.6%	52.5%	86.3%	75.4%	73.2%	71.9%	75.7%	78.2%	99.6%	71.4%
Operating Loss Ratio(3)(6)	75.1%	66.7%	67.1%	123.0%	70.7%	70.9%	70.7%	74.4%	73.6%	73.0%	69.9%	70.8%	87.6%	72.2%
Fronting Operational Ratio(3)	95.0%	85.5%	89.6%	143.0%	117.2%	78.6%	111.1%	242.8%	83.9%	81.2%	90.2%	101.0%	109.6%	128.3%
Operating Fronting Operational Ratio(3)(6)	87.4%	84.6%	84.9%	100.4%	86.0%	83.1%	82.9%	82.6%	84.1%	81.8%	85.7%	84.2%	90.2%	81.0%

This is a non-IFRS financial measure. See Section 10, Non-IFRS Financial Measures and Other Financial Measures for details on composition and an explanation of how it provides useful information to an investor. (2) Operating Net Income includes the portion of finance income/expense relating to the change in yield curve. (3) This is a non-IFRS ratio. See Section 10, Non-IFRS Financial Measures and Other Financial Measures for details on composition, as well as each non-IFRS financial measure used as a component of this ratio, and an explanation of how it provides useful information to an investor. (4) Impact of movement in yield curve within Finance expenses (income) from insurance and reinsurance contracts. (5) Non-recurring items are items not expected to reoccur in the long term course of business, such as the write-down of reinsurance recoverables, loss from run-off programs, loss on sale of structured insurance assets, and Net loss (gain) from life annuity.(6) These metrics exclude the impact of the 2023 run-off and the Q4 2022 write down on reinsurance recoverables to better reflect our US operations.

2 - Financial Highlights

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2 - Financial Highlights			2024						2023					2022		2024		2023	2023		2022
(in 000s of CAD, except otherwise noted)	Q3		Q2		Q1	Q4		Q3		Q2	Q1	Q4		Q3	Q2	Q3 YTD		Q3 YTD	Annual		Annual
2.3 - ROE and Book Value
Consolidated
Retuon Equity (Last Twelve Months)(1)(2)	16.7%		14.4%		15.3%	12.2%		2.8%		4.9%	4.1%	6.5%		19.9%	19.2%	16.7%		2.8%	12.2%		6.5%
Operating Retuon Equity (Last Twelve Months)(1)(2)
18.6%		19.6%		20.0%	20.0%		20.2%		19.2%	20.6%	19.6%		N/A	N/A	18.6%		20.2%	20.0%		19.6%
Book Value
747,381		695,186		662,214	619,429		598,686		529,680	512,458	493,651		537,028	367,002	747,381		598,686	619,429		493,651
Book Value Per Share(3)
15.64		14.56		13.89	13.02		12.58		11.53	11.15	10.76		11.71	8.87	15.64		12.58	13.02		10.76
Trisura Specialty
Retuon Equity (Last Twelve Months)	26.5%		28.4%		28.8%	29.1%		28.8%		26.7%	28.4%	29.8%		30.6%	31.6%	26.5%		28.8%	29.1%		29.8%
Operating Retuon Equity (Last Twelve Months)
24.9%		27.5%		28.1%	29.2%		29.7%		28.4%	28.2%	27.8%		N/A	N/A	24.9%		29.7%	29.2%		27.8%
Book Value
463,137		427,214		333,674	289,784		261,096		240,846	229,711	210,864		196,547	188,644	463,137		261,096	289,784		210,864
Book Value Per Share	9.69		8.95		7.00	6.09		5.49		5.24	5.00	4.60		4.28	4.56	9.69		5.49	6.09		4.60
Trisura US Programs

Retuon Equity (Last Twelve Months)	9.1%		2.5%		4.1%	(1.0)%		(18.2)%		(12.8)%	(16.0)%	(12.1)%		13.6%	13.9%	9.1%		(18.2)%	(1.0)%		(12.1)%
Operating Retuon Equity (Last Twelve Months)
15.0%		14.9%		14.3%	13.6%		15.2%		14.3%	13.6%	13.4%		N/A	N/A	15.0%		15.2%	13.6%		13.4%
Book Value
318,865		302,711		289,779	270,207		279,180		279,276	269,807	241,557		264,018	248,097	318,865		279,180	270,207		241,557
Book Value Per Share	6.67		6.34		6.08	5.68		5.87		6.08	5.87	5.26		5.76	6.00	6.67		5.87	5.68		5.26

2.4 - Capitalization
Debt-to-Capital Ratio(1)	11.6 %	12.4 %	10.2 %	10.8 %	11.1 %	12.4 %	12.8 %	13.2 %	12.3 %	22.2 %	11.6 %	11.1 %	10.8 %	13.2 %

MCT Ratio (Canada)(4)	263 %	267 %	259 %	251 %	246 %	224 %	240 %	N/A	N/A	N/A	263 %	246 %	251 %	N/A
Premiums to Capital - US(3)	5.6	x	7.6	x	6.2 x	6.1	x	6.8	x	7.2 x	6.4 x	6.5	x	7.1 x	7.2 x	6.2	x	6.7 x	6.7	x	6.2	x

This is a non-IFRS ratio. See Section 10, Non-IFRS Financial Measures and Other Financial Measures for details on composition, as well as each non-IFRS financial measure used as a component of this ratio, and an explanation of how it provides useful information to an investor. (2) Q1, Q2 and Q3 2022 balances for ROE and Operating ROE have not been restated to conform with adoption of new accounting standards as it is not feasible to do so. (3) This is a supplementary financial measure. See Section 10, Operating Metrics or slide 1.2, Important Definitions for additional detail. This includes 25 million USD surplus note in Trisura US Programs. (4) This measure is calculated in accordance with the Office of OSFI's Guideline A, Minimum Capital Test.

3 - Shareholder Information

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3 - Shareholder Information		2024				2023			2022		2024	2023	2023	2022
(in 000s of CAD, except otherwise noted)	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q3 YTD	Q3 YTD	Annual	Annual
3.1 - Shares Outstanding/Traded
End of Period (000s of shares)	47,779	47,746	47,673	47,579	47,579	45,959	45,959	45,881	45,871	41,359	47,779	47,579	47,579	45,881
Weighted Average (000s of shares)	47,755	47,697	47,596	47,579	46,671	45,959	45,997	45,874	45,226	41,278	47,683	46,174	46,529	43,416
Average Daily Volume Traded at Quarter End (30 Day, # of Shares)	147,592	123,096	130,620	139,551	233,838	158,537	261,436	159,391	108,146	120,654	147,592	233,838	196,155	159,391
3.2 - Common Share Performance

Common Share Price at Quarter End ($ per share) Change Q/Q and Y/Y

Period High ($ per share)

Period Low ($ per share)

Volume-Weighted Average Price ($ per share) Change Q/Q

Market Capitalization at Quarter End

Change Q/Q and Y/Y

3.3 - Ratings

43.19	41.38	41.65	34.00	30.13	37.57	33.09	45.29	33.41	33.33	43.19	30.13	34.00	45.29
4.4%	(0.6%)	22.5%	12.8%	(19.8%)	13.5%	(26.9%)	35.6%	0.2%	(3.0%)	43.3%	(9.8%)	(24.9%)	(5.0%)
46.38	45.37	44.20	34.65	37.93	38.37	46.17	47.17	41.60	36.22	46.38	46.17	46.17	48.05
39.27	40.19	33.30	29.34	30.13	29.58	30.93	33.73	30.83	29.77	33.30	29.58	29.34	29.28
41.92	42.38	38.90	31.98	33.38	34.51	37.82	42.41	35.69	33.31
(1.1%)	8.9%	21.7%	(4.2%)	(3.3%)	(8.8%)	(10.8%)	18.8%	7.2%	(12.3%)
2,063,575	1,975,729	1,985,580	1,617,686	1,433,555	1,726,680	1,520,784	2,077,961	1,532,545	1,378,490	2,063,575	1,433,555	1,617,686	2,077,961
4.4%	(0.5%)	22.7%	12.8%	(17.0%)	13.5%	(26.8%)	35.6%	11.2%	(2.8%)	43.9%	(6.5%)	(22.2%)	5.7%

Financial strength ratings - principal Canadian operating subsidiary A.M. Best Rating (Since 2012)

DBRS

Financial strength ratings - principal US operating subsidiary A.M. Best Rating (Since 2017)

DBRS

Senior Unsecured Notes rating - Trisura Group Ltd.

DBRS

(Excellent)

A- (Excellent) A- (Excellent)

(Excellent)

A- (Excellent)

(Excellent)

A- (Excellent)

(Excellent)

A- (Excellent) A- (Excellent)

(Excellent)

A- (Excellent)

(Excellent)

A (low)

(Excellent)

A- (Excellent) A- (Excellent)

(Excellent)

A- (Excellent)

(Excellent)

A- (Excellent)

(Excellent)

A- (Excellent) A- (Excellent)

(Excellent)

A- (Excellent)

(Excellent)

A (low)

BBB

4 - Comprehensive Income and Loss

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4 - Comprehensive Income and Loss			2024					2023				2022		2024	2023	2023	2022
(in 000s of CAD, except otherwise noted)		Q3	Q2	Q1		Q4	Q3	Q2	Q1		Q4	Q3	Q2		Q3 YTD		Q3 YTD	Annual		Annual
4.1 - Comprehensive Income and Loss
Gross Premiums Written	767,756	956,118	723,014	739,195	769,944	801,756	660,456	664,802	644,820	642,215	2,446,888	2,232,156	2,971,350	2,433,217
Net Premium Written	205,703	230,265	161,757	173,194	173,155	137,818	113,064	137,594	106,414	145,933	597,725	424,037	597,231	498,111
Net Premium Earned	185,459	163,296	149,493	140,849	152,718	155,911	138,097	115,605	111,996	102,671	498,248	446,726	587,575	418,621
Fee Income	24,277	22,905	27,475	22,926	21,604	19,810	23,174	20,124	18,855	16,311	74,657	64,588	87,514	73,517
Net Underwriting Income	22,679	22,048	26,082	(7,581)	16,832	33,157	9,092	(59,004)	22,706	23,239	70,809	59,081	51,500	12,379
Insurance Revenue	807,645	772,249	744,266	754,953	730,714	664,420	639,100	595,742	550,861	464,643	2,324,160	2,034,234	2,789,187	2,014,915
Insurance Service Expenses	(702,514)	(582,657)	(580,940)	(615,167)	(562,419)	(567,217)	(500,443)	(474,120)	(547,859)	(407,172)	(1,866,111)	(1,630,079)	(2,245,246)	(1,742,601)
Net Expense and Income From Reinsurance Contracts Assets		(69,539)	(158,187)	(127,878)		(135,627)	(143,546)	(57,491)	(121,942)		(175,384)	25,588	(30,019)		(355,604)		(322,979)	(458,606)		(243,128)
Insurance Service Result	35,592	31,405	35,448	4,159	24,749	39,712	16,715	(53,762)	28,590	27,452	102,445	81,176	85,335	29,186
Net Investment Income	16,252	16,902	16,753	16,206	13,493	11,899	10,071	9,479	6,583	5,077	49,907	35,463	51,669	25,162
Net Gains and Losses(1)	11,379	462	12,276	8,132	(8,708)	(6,867)	(2,215)	4,112	3,723	1,441	24,117	(17,790)	(9,658)	8,802
Net Credit Impairment Losses and Reversals		(324)	(150)	(1,830)		926	(258)	376	(149)		-	-	-		(2,304)		(31)	895		-
Total Investment Income	27,307	17,214	27,199	25,264	4,527	5,408	7,707	13,591	10,306	6,518	71,720	17,642	42,906	33,964
Finance Income and Expenses From Insurance Contracts	(29,356)	(5,493)	(36,658)	(27,716)	(11,521)	(10)	(36,628)	(7,400)	(622)	3,782	(71,507)	(48,159)	(75,875)	4,582
Finance Income and Expenses From Reinsurance Contracts		25,130	3,894	32,800		23,511	10,623	(277)	31,902		7,000	903	(2,603)		61,824		42,248	65,759		(2,765)
Net Insurance Finance Income and Expenses		(4,226)	(1,599)	(3,858)		(4,205)	(898)	(287)	(4,726)		(400)	281	1,179		(9,683)		(5,911)	(10,116)		1,817
Net Financial Result		23,081	15,615	23,341		21,059	3,629	5,121	2,981		13,191	10,587	7,697		62,037		11,731	32,790		35,781
Net Insurance and Financial Result	58,673	47,020	58,789	25,218	28,378	44,833	19,696	(40,571)	39,177	35,149	164,482	92,907	118,125	64,967
Other Income	816	837	5,345	727	847	902	5,178	733	663	855	6,998	6,927	7,654	6,593
Other Operating Expenses	(11,056)	(10,060)	(15,012)	(10,346)	(7,094)	(10,075)	(5,432)	(9,742)	(8,097)	(6,997)	(36,128)	(22,601)	(32,947)	(29,171)
Other Finance Costs		(998)	(711)	(614)		(565)	(643)	(601)	(600)		(588)	(823)	(642)		(2,323)		(1,844)	(2,409)		(2,644)
Income and Loss Before Income Taxes	47,435	37,086	48,508	15,034	21,488	35,059	18,842	(50,168)	30,920	28,365	133,029	75,389	90,423	39,745
Income Tax Expense	(11,347)	(9,945)	(12,075)	(3,714)	(6,650)	(8,252)	(4,866)	9,458	(6,696)	(7,422)	(33,367)	(19,768)	(23,482)	(11,950)
Net Income and Loss Attributable to Shareholders		36,088	27,141	36,433		11,320	14,838	26,807	13,976		(40,710)	24,224	20,943		99,662		55,621	66,941		27,795
Other Comprehensive Income and Loss		14,340	3,370	8,939		8,452	1,826	(9,871)	5,921		(3,953)	(297)	(22,403)		26,649		(2,124)	6,328		(47,707)
Comprehensive Income and Loss	50,428	30,511	45,372	19,772	16,664	16,936	19,897	(44,663)	23,927	(1,460)	126,311	53,497	73,269	(19,912)

(1) Net Gains and Losses include Foreign Exchange Gains and Losses, and derivative gains and losses that are also included in Section 7 - Corporate and Other.

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Disclaimer

Trisura Group Ltd. published this content on November 07, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 07, 2024 at 22:02:43.510.