Conduit Holdings Limited Com Shs (DI) (CRE)

Sector:

Insurance

527.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 532.00
  • 52 Week Low: 430.50
  • Currency: UK Pounds
  • Shares Issued: 165.24m
  • Volume: 265,026
  • Market Cap: £870.81m

Conduit Re ends first year in line with plan

By Josh White

Date: Thursday 24 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Reinsurance underwriter Conduit Holdings reported $458.5m (£342.39m) in estimated ultimate premiums written in its preliminary results on Thursday, in line with its first year plan.
The London-listed firm said gross written premiums were $378.8m for the year ended 31 December, with net written premiums coming in at $346.2m, and net premiums earned totalling $194.2m.

It recorded an underwriting loss of $7m, and a comprehensive loss of $42m for 2021.

Looking at its ratios, Conduit said its return on equity was a negative 4%, while its net loss ratio came in at 73.2%.

Its net acquisition cost ratio was 30.4% and its other operating expense ratio was 15.8%.

Conduit's combined ratio was 119.4%, and its total investment return was a negative 0.3% for the year ended 31 December.

"To have accomplished the goals we set ourselves for our first year has been an outstanding achievement for Conduit Re," said group chief executive officer Trevor Carvey.

"For me, the highlight has been the development of our non-cat account which represents 69% of our premium income."

Carvey said the company's "selective and technical" approach to underwriting, together with favourable market conditions, had allowed it to construct a "high-quality and diversified" core portfolio in a year of significant losses for the industry.

"We have been able to minimise our exposure to the volatility of the year's external events and our hard work and discipline should reap rewards in the coming years."

At 1151 GMT, shares in Conduit Holdings were down 4.59% at 394.5p.

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CRE Market Data

Currency UK Pounds
Share Price 527.00p
Change Today 1.00p
% Change 0.19 %
52 Week High 532.00
52 Week Low 430.50
Volume 265,026
Shares Issued 165.24m
Market Cap £870.81m

CRE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.41% above the market average48.41% above the market average48.41% above the market average48.41% above the market average48.41% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Price Trend
56.92% above the market average56.92% above the market average56.92% above the market average56.92% above the market average56.92% 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
67.21% above the market average67.21% above the market average67.21% above the market average67.21% above the market average67.21% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Growth
33.29% above the market average33.29% above the market average33.29% above the market average33.29% above the market average33.29% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% 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 17-May-2024

Time Volume / Share Price
16:40 25,355 @ 527.00p
16:35 55,642 @ 527.00p
16:35 5,880 @ 527.00p
16:35 1,076 @ 527.00p
16:35 268 @ 527.00p

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