SEPOY.net
No Result
View All Result
Thursday, July 17, 2025
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
No Result
View All Result
SEPOY.NET
No Result
View All Result
Home Business

Conduit Holdings announces H1 2022 figures

Nicholas by Nicholas
July 27, 2022
in Business
0



Conduit Holdings Limited (CHL or Conduit Holdings) had a bountiful six months in 2022, somewhat offset by the persistence of the COVID-19 pandemic, geopolitical issues, extreme weather events, and other challenges.

READ ALSO

FireSmart expands into New Brunswick

Canadian small businesses underestimate cyber risk, study finds 

Conduit Holdings saw a whopping 49.1% year-on-year (YOY) increase in estimated ultimate premiums written from $333.1 million in the first half of 2021 (H1 FY21) to $496.7 million in the first half of 2022 (H1 FY22).

Meanwhile, its gross written premiums (GWP) jumped by 70.7% (YOY) from $210.3 million in H1 FY21 to $359 million in H1 FY22 – an unsurprising result, given the company’s performance since the beginning of the year, reporting a 114.9% year-on-year (YOY) increase in gross written premiums (GWP) for the first quarter.

Conduit Holdings group CEO Trevor Carvey said the business is normalizing despite the challenges this year, with its combined ratio trending towards its target of a mid-80s steady state. The business is also in an excellent position, he said, to continue capitalizing in its chosen markets.

“We are seeing strong demand for our offering, and we continue to take a highly selective approach to our underwriting in a market which is exhibiting increasingly strong fundamentals,” Carvey said.

However, like other companies facing a difficult market, Conduit Holdings reported a comprehensive loss of $61.4 million due to:

  • $24.6 million estimated loss in relation to Ukraine (net of reinsurance and reinstatement premiums), including an estimate of the impact of potential aviation claims;
  • Net unrealised loss on investments of $54.3 million, reflecting the mark to market adjustment, driven by expectations of rising interest rates; and
  • Interim dividend of $0.18 (approximately 15 pence) per common share declared.

On the bright side, Conduit Holdings is still in a significant growth phase as premiums continue to earn through to the income statement.

“Conduit has quickly built a reputation for underwriting discipline and focus, as well as great service. We have now passed $1 billion of ultimate premiums written since IPO, and it is great to see the validation of our underwriting and approach,” Carvey said.

Tags: CHL financial results H1 2022Conduit Holdings financial results 2022Conduit Holdings financial results H1 2022

Related Posts

FireSmart expands into New Brunswick
Business

FireSmart expands into New Brunswick

July 16, 2025
Canadian small businesses underestimate cyber risk, study finds 
Business

Canadian small businesses underestimate cyber risk, study finds 

July 16, 2025
Court rejects insurer’s bid to dismiss case that went dark 6+ years ago
Business

Court rejects insurer’s bid to dismiss case that went dark 6+ years ago

July 16, 2025
2025 Community Impact Grant: Supporting Healthier, Greener & Stronger Communities
Business

2025 Community Impact Grant: Supporting Healthier, Greener & Stronger Communities

July 16, 2025
25% of Canadians report being affected by extreme weather in last year: poll
Business

25% of Canadians report being affected by extreme weather in last year: poll

July 15, 2025
Are brokers legally responsible if AI spits out bad information to clients?
Business

Are brokers legally responsible if AI spits out bad information to clients?

July 15, 2025
Next Post

Dispute over compensation for the 1972 Olympic attack

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About

Sepoy.net is a perfect place for people who want daily updates on news related to business, technology, entertainment, health, cryptocurrency etc.

Contact: hello@sepoy.net

Major Categories

News

Business

Tech

Economy

 

Recent Posts

  • Double bubble Position Enjoy important hyperlink Free Revolves
  • Ming Dynasty Position: Multipliers queen of the nile video slot in the China!
  • Best Crypto & Bitcoin Gambling enterprises 2025 Fast & Fabulous Bingo casino games Safer Earnings

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy

© 2023 Sepoy.net

No Result
View All Result
  • Home
  • Business
  • News
  • Health
  • Tech
  • Science
  • Lifestyle
  • Travel

© 2023 Sepoy.net