Trisura Group (TSU) investor relations material

Strategic evolution and growth milestones

• Achieved CAD 1 billion book value 1.5 years ahead of 2027 target, marking a significant scale milestone.

• Expanded from a Canadian specialty insurer to a North American player, with U.S. Surety practice nearly matching Canadian operations.

• Compounded book value at a 25% CAGR over five years, enhancing credibility and market reach.

• Specialty focus and U.S. expansion differentiate the platform, allowing more independent navigation of insurance cycles.

• Highly reinsured lines and specialized Surety business provide resilience and unique market opportunities.

Recent changes and operational priorities

• Scale has enabled entry into larger market segments and new products, especially in the U.S.

• Prioritizing mid-teens growth in net premiums for primary lines, with momentum in Surety and Corporate Insurance.

• Moving up-market in Canada and expanding product suite in Corporate Insurance.

• Broader balance sheet and broker reach support expansion into larger market segments.

Specialty platform outlook and segment dynamics

• Targeting 15% net premium growth in specialty lines over the next 12–24 months.

• Recent licensing in major U.S. states enables further growth, with local teams being established.

• Surety and Corporate Insurance expected to sustain mid-teens growth; Warranty to grow at low to mid-single digits.

• Canadian Fronting faces competitive pressures, with stabilization expected through 2027.