Conduit Holdings Ltd. · LSE:CRE
Conduit — Q4 2021 Earnings Presentation
11 slides from Conduit's earnings presentation, Jan 19, 2022
Slide 1: January 2022 Renewals Trading Update
Conduit Holdings Limited January 1 2022 Renewals Trading Update 19 January 2022
Slide 2: Forward looking statements
Forward looking statements Important note: This announcement may include certain statements and indicative projections that are, or may be deemed to be, "forward-looking statements". These forward-looking statements are not based on current or historical facts and are forward looking in nature and m
Slide 3: Presentation team
Presentation team Neil Eckert Trevor Carvey Greg Roberts Tristan McDonald Executive Chairman Chief Executive Officer & Head of Property Strategy and Investor Chief Underwriting Officer Relations
Slide 4: Market background
Market background 2021 catastrophe losses c$110-120 billion (4th highest in history) >$500 billion catastrophe losses over 5 years (2017-2021) Significant ILS capacity withdrawn and/or trapped following impact of loss year(s) Inflation concerns – economic and social – affecting replacement c
Slide 5: Key highlights
Key highlights Estimated ultimate premiums bound of c$262.6 million (+70% vs 2021: c$154.4 million (1)) Strong momentum in both pricing and terms and conditions in most classes; outlook for 2022 remains strong – Conduit net rate increase of +5% (net of claims inflation, exposure changes and othe
Slide 6: Balanced and diversified
Balanced and diversified Est. Ultimate 2022 % 2021 (1) % Change premiums bound ($ m) ($ m) (%) Property 109.3 41% 79.7 52% + 37% Casualty 85.5 33% 24.7 16% + 246% Specialty 67.8 26% 50.0 32% + 36% Total 262.6 100% 154.4 100% +70% Headline ultimate premiums written $262.6 million, a 70% increase vs
Slide 7: Conduit market experience
Conduit market experience A late renewal season for reinsurers with rate rises most evident on loss-impacted accounts and favourable changes in terms and conditions: total property cat market price increase estimates +9-11% (GC and Howdens) less capacity apparent for lower attaching property exc
Slide 8: Conduit Re renewal book net rate changes
Conduit Re renewal book net rate changes Net rate change (% change yoy) 2022 Property +8% Casualty +4% Specialty +2% Total weighted by class +5% Net rate changes include impact of: – claims inflation – underlying exposures – other key terms and conditions Overall weighted portfolio 1 January ren
Slide 9: Ahead of expectations and market momentum continuing into 2022
Ahead of expectations and market momentum continuing into 2022 Ultimate written premiums bound up 70% year on year; ahead of management expectations Momentum in pricing and terms and conditions remains strong in core classes and expected to continue through 2022 Quota share approach remains hi
Slide 10: Questions
—_—_—\ Questions
Slide 11: conduitreinsurance.com
Enquiries please contact: Haggie Partners David Haggie / Caroline Klein +44 (0) 207 562 4444 conduitre@haggie.co.uk Tristan McDonald Investor Relations +44 (0) 7976 968 940 tristan.mcdonald@conduitre.uk conduitreinsurance.com 11