CA - Trisura Group Non-GAAP EPS of C$0.61 revenue of C$639.1M

2023-05-11 17:26:15 ET

• Trisura Group press release ( OTCPK:TRRSF ): Q1 Non-GAAP EPS of C$0.61.
• Revenue of C$639.1M (+58.4% Y/Y).
• Book value per share ^{( 3 )} of $11.15 increased 25.4% from March 31, 2022, driven by our July 2022 equity raise, strong Canadian earnings and foreign currency movements, but diluted by the write down on reinsurance recoverables and unrealized losses on investments.
• ROE of 4.1% compared to 18.7% in Q1 2022, below our mid-teens target as a result of the write down on reinsurance recoverables and losses associated with the run-off program. Operating ROE of 20.6% exceeded our target, demonstrating the strength of our core operations despite significant growth and a larger capital base.

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