Pelagos Insurance Capital Limited · NYSE:PLGO
Pelagos Insurance Capital — Q1 2026 Earnings Presentation
13 slides from Pelagos Insurance Capital's earnings presentation, May 14, 2026
Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation
Slide 2: Basis of Presentation
Basis of Presentation Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” which include all statements that do not relate solely to historical or current facts and which may concern our strategy, plans, targets, projections or intentions and a
Slide 3: Pelagos Insurance Capital: At a Glance
Pelagos Insurance Capital: At a Glance A strategic capital allocator and expert risk selector in specialty insurance and reinsurance, committed to long-term partnerships. Highlights Gross Premiums Written(1) Retro & Whole Account INSURANCE 1% REINSURANCE $2.3 bn $13.7 bn $3,925m (81%) $910m (19%) Sh
Slide 4: 2026 First Quarter Key Takeaways
2026 First Quarter Key Takeaways • We delivered strong results and are driving consistently higher book Gross Premiums Written value per diluted share. This performance demonstrates the strength and $ in billions CAGR: +16% flexibility of our capital allocator model. Our combined ratio for the quart
Slide 5: 2026 First Quarter Highlights
2026 First Quarter Highlights Q1 2025 Q1 2026 Key Quarterly Highlights Gross Premiums Written $1,723M $1,840M • Gross premiums written growth of $118 million or 7% from the first quarter of 2025, driven by new underwriting partners across the portfolio. Net Premiums Earned $603M $569M • Combined rat
Slide 6: Insurance
Insurance Gross Premiums Written Underwriting Ratio(1) $ in millions $3,756 $3,539 89.7% 81.9% 84.0% $2,960 77.3% 70.0% 71.2% $2,413 31.8% 29.4% 29.0% 26.3% 27.2% 27.0% $1,436 $1,267 51.0% 57.9% 52.5% 55.0% 42.8% 44.2% 2022 2023 2024 2025 Q1 2025 Q1 2026 2022 2023 2024 2025 Q1 2025 Q1 2026 Loss Rati
Slide 7: Reinsurance
Reinsurance Gross Premiums Written Underwriting Ratio(1) $ in millions 183.8% 21.6% $961 $865 97.4% $605 $619 $456 22.4% 162.2% $404 50.0% 36.5% 38.9% 75.0% 26.3% 17.3% 27.2% 23.6% 9.3% 15.3% 23.7% 24.8% (7.5)% 2022 2023 2024 2025 Q1 2025 Q1 2026 2022 (2) 2023 2024 2025 Q1 2025 Q1 2026 Loss Ratio Po
Slide 8: High Quality and Diversified Investment Portfolio
High Quality and Diversified Investment Portfolio Asset Allocation Net Investment Income & Realized and Unrealized Gains on Other Investments(1) As of March 31, 2026 6% 6% $50.6 $49.2 $50.6 $46.5 $44.2 Agency MBS Fixed Income 7% 4% Funds Hedge Funds Other ABS <1% Private Credit Funds 15% U.S. Treasu
Slide 9: Strong Capital Position and Disciplined Approach to Capital Allocation
Strong Capital Position and Disciplined Approach to Capital Allocation Capital Strength and Balance Sheet Scale Capital Management Inception to Date Capital Management Highlights As of March 31, 2026 ($ in millions) As of March 31, 2026 ($ in millions) • Committed to a strategic and disciplined appr
Slide 10: Why Invest in Pelagos Insurance Capital
Why Invest in Pelagos Insurance Capital Expert capital allocator and risk selector with a leading diversified specialty insurance and reinsurance portfolio Expanding network of experienced long-term underwriting partners provides differentiated access points to attractive risks which best fit our st
Slide 11: Appendix
Appendix CAPITAL
Slide 12: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation This Presentation includes certain financial measures that are not calculated in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”) including operating net income, operating EPS, operating return on average common equity, and
Slide 13: pelagosinsurancecapital.com contact details
W: pelagosinsurancecapital.com T: +1 441 279 2590 Wellesley House South 4th Floor, 90 Pitts Bay Road, Pembroke HM 08 Bermuda
Pelagos Insurance Capital Limited Common Shares — Q1 2026 Earnings Presentation on 6ix