Conduit Holdings Limited Com Shs (DI) (CRE)

Sector:

Insurance

 510.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 539.00
  • 52 Week Low: 430.50
  • Currency: UK Pounds
  • Shares Issued: 165.24m
  • Volume: 228,296
  • Market Cap: £842.72m

Gross premiums rise in strong quarter for Conduit

By Josh White

Date: Wednesday 15 May 2024

LONDON (ShareCast) - (Sharecast News) - Conduit Holdings reported a 28.3% increase in gross premiums written in its first quarter on Wednesday, reaching $356.8m for the three months ended 31 March.
The company said reinsurance revenue also surged, by 35.1% year-on-year, to $181.1m.

It said the overall portfolio risk-adjusted rate change for the quarter stood at 3%, net of claims inflation, indicating favourable market conditions.

Despite market fluctuations, Conduit Re reported no event loss, either individually or in the aggregate, significantly impacting its operations during the quarter.

The firm said its exposure to the Baltimore Bridge collapse remained within expectations for an event of such nature.

Conduit Re maintained a high-quality investment portfolio with an average credit quality of AA, a duration of 2.5 years, and a book yield of 3.9%, with market yield reaching 5.3% as of 31 March.

Looking ahead, market conditions were still historically favourable, benefiting Conduit Re's underwriting portfolio.

The company said its conservative investment strategy aimed to protect capital to support underwriting, with a diversified platform allowing capital allocation to deserving opportunities.

Its outlook includes a low 80s undiscounted combined ratio and continued growth across all segments, driven by new business, high retention, and improving rates.

"Conditions remain supportive for our focused and disciplined deployment of capital," said chief underwriting officer Greg Roberts.

"Our mature relationships with non-admitted and E&S carriers remain a cornerstone of our strategy as we continue to grow in that space.

"Rating levels are generally strong, and the overall trading environment remains in a very good place and continues to be an 'underwriters' market'."

At 0948 BST, shares in Conduit Holdings were up 0.51% at 510.6p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

CRE Market Data

Currency UK Pounds
Share Price 510.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 539.00
52 Week Low 430.50
Volume 228,296
Shares Issued 165.24m
Market Cap £842.72m

CRE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.82% above the market average48.82% above the market average48.82% above the market average48.82% above the market average48.82% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Price Trend
72.82% above the market average72.82% above the market average72.82% above the market average72.82% above the market average72.82% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Income
68.98% above the market average68.98% above the market average68.98% above the market average68.98% above the market average68.98% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Growth
34.29% above the market average34.29% above the market average34.29% above the market average34.29% above the market average34.29% above the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average

CRE Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Mar-24 17-Aug-23
Paid 24-Apr-24 08-Sep-23
Amount 18.00¢ 18.00¢

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 37,432 @ 510.00p
16:35 68 @ 510.00p
16:35 751 @ 510.00p
16:35 1,319 @ 510.00p
16:35 453 @ 510.00p

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