Conduit Holdings Limited (CRE.L), a Bermuda-based reinsurance company, on Wednesday posted a rise in earnings for the first-half.
For the six-month period to June 30, the company posted a comprehensive income of $98.1 million or $0.62 per share, higher than $78.6 million or $0.49 per share, recorded for the same period last year.
Tangible net assets per share were $6.69 or 5.28 pounds, up from $5.72 or 4.50 pounds last year.
Results of operating activities stood at $98.7 million as against previous year's $79.2 million.
Net reinsurance and financial result rose to $117.3 million from $94.1 million a year ago.
Net investment result was $23 million, compared with $22.6 million in 2023.
Reinsurance service result was up $99.7 million, from last year's $80.7 million.
Total capital and tangible capital available was $1.05 billion, compared with $0.92 billion a year ago.
Reinsurance revenue rose to $382 million from previous year's $278.7 million.
Gross premiums written stood at $737.8 million, higher than $542.2 million in 2023.
On 30 July, the Board declared an interim dividend of $0.18 per share, which will be paid on September 5 to shareholders of record on August 16.
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