Life Insurance

Trisura Group confirms shareholder results



Trisura Group confirms shareholder results | Insurance Business America















It’s a green light for the nominees


Insurance News

By
Paul Lucas

It was a massive thumbs up for the nominees at this year’s annual meeting of shareholders for Trisura Group.

The Toronto-based specialty insurance provider, which also serves the US market, has revealed the results of its meeting, held on June 3 – one that saw all of its nine nominees that were originally proposed for election to the board by shareholders subsequently elected. It issued the following proxies from shareholders in regards to the election:













Director Nominee

Votes For

%

Votes Withheld

%

David Clare

33,530,663

98.25%

597,786

1.75%

Paul Gallagher

32,118,368

94.11%

2,010,081

5.89%

Sacha Haque

33,658,204

98.62%

470,245

1.38%

Barton Hedges

33,599,955

98.45%

528,494

1.55%

Anik Lanthier

33,601,593

98.46%

526,856

1.54%

Janice Madon

33,594,631

98.44%

533,818

1.56%

George E. Myhal

30,614,846

89.70%

3,513,603

10.30%

Lilia Sham

33,659,553

98.63%

468,896

1.37%

Robert Taylor

32,840,051

96.22%

1,288,398

3.78%

 

The shareholder announcements come on the back of the group’s first quarter 2024 results, which were released in early May.

Those results pointed to a significant increase in net income – climbing to $36.4 million. This was largely attributed to growth in business along with an improvement in US fronting. The firm also pointed to higher net investment income – overall, net income enjoyed a 16% year-on-year rise.

“Trisura demonstrated strong performance in the quarter with operating net income of $33.2 million, or $0.68 per share, driven by continued growth, profitable underwriting and higher investment income,” said David Clare, Trisura’s president and CEO at the time.

“Continued expansion of market share and distribution partners drove insurance revenue growth of 16.5%. In Canada, disciplined underwriting resulted in a combined ratio of 81.8%, while in US fronting continued growth and an improved loss ratio resulted in a strong insurance service result and improved fronting operational ratio.”

Have something to say about the Trisura’s recent performance? Leave a comment below.

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