)
Conduit (CRE) investor relations material
Conduit H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Gross premiums written increased 6.9% year-on-year to $1.24 billion, with strong growth in casualty and stable property and specialty performance.
2025 was a transitional year with significant management changes, including a strengthened executive team and new board chair.
The company absorbed the largest catastrophe loss in its history from California wildfires, impacting the combined ratio by 15.3 points.
Delivered comprehensive income of $116.8 million and an ROE of 11.1%, marking the third consecutive year of double-digit ROE.
Focused on portfolio rebalancing, reducing volatility, and maintaining capital discipline through share buybacks and dividends.
Financial highlights
Gross premiums written rose to $1.24 billion, up 6.9% year-on-year.
Comprehensive income was $116.8 million, with an ROE of 11.1%, down from $125.6 million and 12.7% in the prior year.
Net tangible assets per share increased 11.9% to $7.14, including dividends.
Investment return was 6.7%, generating $119.5 million of income; book yield at 4.2%.
Diluted EPS was $0.74, down from $0.79 in 2024.
Outlook and guidance
Growth expected to moderate in 2026 as the market softens, but pricing remains broadly adequate.
Entering 2026 with a more resilient portfolio and enhanced retrocession program to reduce volatility.
Focus remains on profitability and underwriting quality over top-line growth amid competitive market conditions.
Ongoing share buyback program and commitment to returning capital to shareholders.
Next Conduit earnings date
Next Conduit earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)