Trisura Group (TSU) Status Update summary

Quarterly performance and operational highlights

• Achieved an 83% combined ratio and 18% operating ROE, reflecting strong profitability and a solid start to the year.

• Primary lines such as surety, corporate insurance, and warranty showed continued growth and were key contributors.

• Investment income growth complemented robust operating results.

U.S. programs and specialty business evolution

• U.S. programs business has matured, with growth now focused on high-potential, long-term partners rather than rapid expansion in program count.

• Fee income remains stable, with ceded fees to earned premium consistently in the high 4% range, expected to be modeled at 5%.

• Ongoing portfolio in U.S. programs continues to deliver 16%-17% top-line growth and healthy earned premium increases.

Risk management and reserving improvements

• Reduced exposure to concentrated CAT property risks and agent-owned reinsurers, strengthening risk management.

• Expanded infrastructure, capital, and diversification, resulting in a more sophisticated and resilient platform.

• Enhanced actuarial resources and processes, especially in the U.S., to ensure robust reserving and risk oversight.