Recent Financial Statements from Canopius Group
Canopius Group, an international specialty and P&C (re)insurer, recently announced its financial results for the half-year ended June 30, 2025. The latest results demonstrate continued growth and underwriting profitability, building on a record-breaking 2024 performance.
One of the most significant highlights is the increase in Insurance Contract Written Premium, which rose 31% to $2.41 billion compared to the first half of 2024. This growth is a testament to Canopius' expanding business operations.
Net insurance revenue also saw a substantial increase, rising 42% to $1.39 billion from $0.98 billion in the first half of 2024. This growth indicates a stronger financial position for the company.
The Group net combined ratio improved for both the undiscounted and discounted calculations. The undiscounted ratio stood at 89.7%, a decrease from 91.3% in the first half of 2024, while the discounted ratio was 84.0%, down from 85.4%. These improvements suggest a more efficient use of capital.
Profit after tax also increased by 24% to $222 million, up from $179 million in the first half of 2024. This growth is a positive sign of the company's financial health.
Tangible Net Asset Value (TNAV) also saw an increase, reaching $2.04 billion from $1.81 billion at year-end 2024. The Annualized Return on Opening Tangible Equity (ROTE) was 24.5%, up from 23.9% in the first half of 2024. These figures indicate a strong performance in asset management.
It's important to note that Canopius experienced higher catastrophe losses in the first half of 2025 compared to the prior half year due to various events. However, the company remains committed to driving excellence and consistency across its business and maintaining a disciplined and selective approach to capital allocation.
In addition to these financial results, Canopius Group has also announced a new partnership with Group-IB, a leading creator of cybersecurity technologies. This partnership strengthens Canopius' cyber insurance offering with further advanced threat intelligence capabilities.
As of August 2025, the full-year 2025 results have not yet been published. The figures presented here offer a promising outlook for the company's performance in the second half of the year.
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