Conduit Holdings Ltd. · LSE:CRE
Conduit — Q1 2022 Earnings Presentation
12 slides from Conduit's earnings presentation, May 11, 2022
Slide 1: Conduit Holdings Limited Q1 2022 Trading Update
Conduit Holdings Limited Q1 2022 Trading Update 11 May 2022
Slide 2: Forward looking statements
Forward looking statements Important note: This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", “goals”
Slide 3: First quarter of 2022 highlights
First quarter of 2022 highlights Continued build of a high-quality reinsurance franchise focused on selective underwriting, with excellent support from clients and brokers: Estimated ultimate premiums written of $296.9 million, an increase of 49.1% on the first quarter of 2021 estimated ultimate
Slide 4: Ukraine-Russia conflict
Ukraine-Russia conflict The first-quarter of 2022 was the sixth first quarter in a row where weather-related insured losses have exceeded $10 billion1); Conduit had minimal exposure to these natural catastrophe events As regards the escalating crisis in Ukraine and the Russian invasion on 24 Februar
Slide 5: Improving pricing environment
Improving pricing environment Marsh Global Insurance Pricing Change Conduit Re pricing experience Reinsurance pricing dynamics remain strong, with 22.0% 20.0% continued risk-adjusted rate increases across our portfolio 19.0% 18.0% 14.0% 15.0% 14.6% Inflation remains topical, given continued supp
Slide 6: Strong growth across all divisions
Strong growth across all divisions Gross Premiums Written Conduit Re 177.5 Property Pricing and terms and conditions continue to improve in 83.8 our target markets, particularly at primary level, hence $M $M +115% +90% the focus towards ground-up Quota Share (QS) “Pure Play Reinsurer” status con
Slide 7: First quarter of 2022, financial highlights
First quarter of 2022, financial highlights $M Q1 2022 Q1 2021 Strong growth driven by continued positive rate Est. Ultimate Premiums Written 296.9 199.1 increases and franchise momentum Gross Premiums Written 177.5 82.6 Total capital and tangible capital of the Group on 31 March 2022 was $0.9 b
Slide 8: High quality investment portfolio
High quality investment portfolio Asset Allocation as of 31 March 2022 Credit Quality as of 31 March 2022 U.S. Agency MBS/CMBS, 9% BBB U.S. Municipal Bonds and Non U.S. Govt 14% Bonds/Agencies, 1% Corporate Bonds, 43% Portfolio Duration: Non-Agency Structured 2.5 years AAA Products, 24% Average Cred
Slide 9: Unique risk profile focused on underwriting
Unique risk profile focused on underwriting Unique risk profile focused on Underwriting Business Objectives 1. Pure play reinsurer, single location and single balance sheet 1. Profitability: focus on U/W to deliver mid-teens ROE 2. Balanced and diversified approach 2. Solvency: maintained comfortabl
Slide 10: Conduit Re delivers on its focused growth strategy
Conduit Re delivers on its focused growth strategy First quarter 2021 affected by Ukraine-Russia conflict and expectations of tightening monetary policy Thanks to our “Pure-Play” reinsurer status, our teams enjoy excellent support from both clients and brokers Conduit Re remains on a positive
Slide 11: Q1 2022 Trading Update Q&A
Q1 2022 Trading Update Q&A We CONDUIT RE 11
Slide 12: conduitreinsurance.com
Enquiries please contact: Haggie Partners David Haggie / Caroline Klein +44 (0) 207 562 4444 conduitre@haggie.co.uk Antonio Moretti Investor Relations +44 (0) 7935 708 723 Antonio.Moretti@conduitre.bm conduitreinsurance.com 12