Latest Financials From Canopius

The latest set of financials from Canopius for you;

Canopius Group, a leading international specialty and P&C (re)insurer, has announced its financial results for the half-year ended June 30, 2025.

Key highlights include:

• Insurance Contract Written Premium increased 31% to $2.41bn (1H24: $1.84bn)
• Net insurance revenue increased 42% to $1.39bn (1H24: $0.98bn)
• Group net combined ratio (undiscounted) of 89.7% (1H24: 91.3%)
• Group net combined ratio (discounted) of 84.0% (1H24: 85.4%)
• Profit after tax increased 24% to $222m (1H24: $179m)
• Tangible Net Asset Value (TNAV) increased to $2.04bn (YE 2024: $1.81bn)
• Annualised Return on Opening Tangible Equity (ROTE) of 24.5% (1H24: 23.9%)

Neil Robertson, Group Chief Executive Officer, said:

“At Canopius, we are guided by a clear strategic vision focused on delivering attractive, sustainable returns by expanding in areas where we have a competitive edge or differentiated capabilities. Our relentless focus on underwriting and execution has created strong business momentum that has again allowed us to deliver both attractive growth rates and robust underwriting profitability.

The Group is well placed to capitalise on the strong fundamentals of our industry. The ongoing enhancement of our operational capabilities combined with our disciplined underwriting approach continues to position us well to take further advantage of emerging opportunities and sustain our profitable growth.”

Continued momentum in top-line and bottom-line performance

“The year has started well. Despite rate pressure emerging across parts of our portfolio, the breadth of our business and the momentum we have generated in recent periods has been reflected in material premium growth at strong levels of rate adequacy. We were again able to demonstrate growth and profitability across our business regions in the UK, U.S., Bermuda and APAC.

The California wildfires in January were a significant though not outsized event for Canopius, but there were many smaller catastrophe events during the period, and this led to higher catastrophe losses relative to the prior half year. However, attritional loss experience is stable, with positive reserve experience on both current and prior years.

Our balance sheet has strengthened once again this half year. The investment return from our high-quality investment portfolio continues to trend positively as our business grows and we continue to maintain a prudent reserving position and have a robust capital surplus.”

Focusing on the enhancement of our value proposition

“To deliver lasting value to our customers and shareholders, we remain committed to driving excellence and consistency across our business. In recent years, we’ve accelerated our progress, building a more diverse and resilient enterprise through the disciplined execution of our strategic priorities.

“As market competition intensifies, we continue to apply a disciplined and selective approach to capital allocation with a strongly held commitment to pricing integrity across all parts of the Canopius Group. We are confident in our ability to navigate the remainder of 2025 and to further enhance our value proposition.”