Announcement • Jul 31
Trisura Group Ltd. to Report Q2, 2026 Results on Aug 06, 2026 Trisura Group Ltd. announced that they will report Q2, 2026 results at 4:00 PM, US Eastern Standard Time on Aug 06, 2026 Announcement • May 02
Trisura Group Ltd. to Report Q1, 2026 Results on May 07, 2026 Trisura Group Ltd. announced that they will report Q1, 2026 results After-Market on May 07, 2026 Announcement • Apr 02
Trisura Group Ltd. Announces Board Changes Trisura Group Ltd. announced the appointment of Chris Sekine to its Board of Directors and the retirement of Robert Taylor. In addition, The company announced that Chris Sekine is expected to stand for election to the Board of Directors at this year’s Annual Meeting of Shareholders. Mr. Taylor served as the Chairman and a director of Trisura Guarantee Insurance Company from 2013 to 2017. As a co-founder of Trisura Guarantee Insurance Company, Mr. Taylor served as the CEO of the company from its inception in 2006 until 2012.Mr. Sekine served as President and CEO of Trisura Guarantee Insurance Company from 2018 to 2024 and has been with the Company since its inception in 2006 when he established the Company’s Surety line of business. In 2025 Mr. Sekine transitioned from day-to-day operations to serve as Executive Director on the board of Trisura Guarantee Insurance Company and Chair of the Board of First Founders Assurance Company. He has over 30 years of experience in the surety and insurance industry, has held senior executive roles in the Canadian operations of two large international insurers as well as having served as a board member for the Surety of Association of Canada. Announcement • Mar 12
Trisura Group Ltd., Annual General Meeting, Jun 02, 2026 Trisura Group Ltd., Annual General Meeting, Jun 02, 2026. Announcement • Mar 11
Trisura Group Ltd. announced that it expects to receive CAD 200 million in funding Trisura Group Ltd. announced that it will issue senior unsecured notes for principal amount of CAD 200 million in funding on March 10, 2026. The Notes will be direct unsecured obligations of Trisura and will rank equally with all other unsecured and unsubordinated indebtedness of Trisura. The Notes will bear interest at a fixed annual rate of 4.015% until maturity on March 17, 2031. The transaction is expected to closing of the offering of the Notes is expected to occur on March 17, 2026, subject to customary closing conditions. Announcement • Feb 06
Trisura Group Ltd. to Report Q4, 2025 Results on Feb 12, 2026 Trisura Group Ltd. announced that they will report Q4, 2025 results After-Market on Feb 12, 2026 Announcement • Oct 31
Trisura Group Ltd. to Report Q3, 2025 Results on Nov 06, 2025 Trisura Group Ltd. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Announcement • Aug 01
Trisura Group Ltd. to Report Q2, 2025 Results on Aug 07, 2025 Trisura Group Ltd. announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Announcement • Apr 25
Trisura Group Ltd. to Report Q1, 2025 Results on May 01, 2025 Trisura Group Ltd. announced that they will report Q1, 2025 results After-Market on May 01, 2025 Announcement • Mar 24
Trisura Group Ltd., Annual General Meeting, Jun 03, 2025 Trisura Group Ltd., Annual General Meeting, Jun 03, 2025. Announcement • Feb 07
Trisura Group Ltd. to Report Q4, 2024 Results on Feb 13, 2025 Trisura Group Ltd. announced that they will report Q4, 2024 results After-Market on Feb 13, 2025 Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: CA$0.76 (vs CA$0.32 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.76 (up from CA$0.32 in 3Q 2023). Revenue: CA$761.5m (up 2.0% from 3Q 2023). Net income: CA$36.1m (up 143% from 3Q 2023). Profit margin: 4.7% (up from 2.0% in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Nov 01
Trisura Group Ltd. to Report Q3, 2024 Results on Nov 07, 2024 Trisura Group Ltd. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: CA$0.57 (vs CA$0.58 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.57. Revenue: CA$631.4m (down 6.8% from 2Q 2023). Net income: CA$27.1m (up 1.2% from 2Q 2023). Profit margin: 4.3% (up from 4.0% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Insurance industry in Europe. Announcement • Jul 26
Trisura Group Ltd. to Report Q2, 2024 Results on Aug 01, 2024 Trisura Group Ltd. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Recent Insider Transactions • Jun 23
Insider recently sold €1.4m worth of stock On the 20th of June, Chris Sekine sold around 49k shares on-market at roughly €28.64 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.4m more than they bought in the last 12 months. Announcement • Jun 15
Trisura Group Ltd. Announces Executive Appointments Trisura Group Ltd. announced senior management appointments across the organization. Richard Grant – Chief Underwriting Officer – Richard has been with Trisura Canada since its inception leading the Corporate Insurance practice and most recently as Trisura Canada's COO. Richard’s expanded responsibilities now include strategic leadership and oversight of underwriting and program structuring decisions across North America. His role will also include oversight of reinsurance and the development of its nascent US Corporate Insurance business. Phillip Shirtliff – Chief Risk Officer – Joining the company from Manulife Financial, Phillip will lead Trisura’s risk function and enterprise risk management across the organization working closely with local risk officers. An actuary by background, Phillip formerly led Manulife Canada’s insurance risk function, as well as a team responsible for global model risk management. Chris Sekine – Chris has led Trisura Canada for the past five years and the company is excited to announce that he will be transitioning to an executive director position on the board of Trisura Canada at the end of the year. He will continue to have responsibility for strategic initiatives and ongoing involvement in growth, reinsurance and distribution. As part of its established succession planning the Canadian CEO position will shift to Richard Grant in the new year, in his capacity as Chief Underwriting Officer and with support from its Canadian senior management team. Allison Kenworthy – Chief Financial Officer, Trisura US – Allison joined the company in 2023 from Nautilus Insurance Group. Since joining her impact and leadership continues to improve its infrastructure and will be an important contributor in the continuing development of its US Surety and Corporate Insurance platforms as well as ongoing expansion of US Fronting. Micah Gautreaux – General Counsel, Trisura US – Micah recently joined from Horace Mann Insurance Company to lead its US legal function, providing support for both US Fronting and its growing US Surety and Corporate Insurance platforms. Announcement • Jun 06
Trisura Group Ltd. Elects Sacha Haque as Directors Trisura Group Ltd. at annual meeting of shareholders held on June 3, 2024, the company elected Sacha Haque as directors. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: CA$0.77 (vs CA$0.30 in 1Q 2023) First quarter 2024 results: EPS: CA$0.77 (up from CA$0.30 in 1Q 2023). Revenue: CA$645.4m (down 4.9% from 1Q 2023). Net income: CA$36.4m (up 161% from 1Q 2023). Profit margin: 5.6% (up from 2.1% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Apr 24
Trisura Group Ltd. to Report Q1, 2024 Results on May 02, 2024 Trisura Group Ltd. announced that they will report Q1, 2024 results After-Market on May 02, 2024 New Risk • Apr 12
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €900k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Significant insider selling over the past 3 months (€900k sold). Announcement • Apr 05
Trisura Group Ltd. Announces Board Changes Trisura Group Ltd. announced the appointment of Lilia Sham to its Board of Directors and the retirement of Greg Morrison. In addition, Trisura announced that Sacha Haque is expected to stand for election to the Board of Directors at this year’s Annual General Meeting. Ms. Sham and Ms. Haque have enjoyed long and successful careers in the financial services industry. Ms. Sham most recently led iA Financial’s Strategy and Corporate Development team and previously was head of Corporate Development at Intact Financial. Ms. Haque has been the President of Imperial Windsor Group and the R. Howard Webster Foundation since 2023 and previously served as Partner, General Counsel and Secretary at Sagard, following a senior legal position with Power Corporation of Canada. Announcement • Mar 27
Trisura Group Ltd. (TSX:TSU) acquired First Founders Assurance Company. Trisura Group Ltd. (TSX:TSU) acquired First Founders Assurance Company on March 26, 2024.
Trisura Group Ltd. (TSX:TSU) completed the acquisition of First Founders Assurance Company on March 26, 2024. Announcement • Mar 23
Trisura Group Ltd., Annual General Meeting, Jun 03, 2024 Trisura Group Ltd., Annual General Meeting, Jun 03, 2024. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: CA$1.44 (vs CA$0.64 in FY 2022) Full year 2023 results: EPS: CA$1.44 (up from CA$0.64 in FY 2022). Revenue: CA$2.84b (up 38% from FY 2022). Net income: CA$66.9m (up 141% from FY 2022). Profit margin: 2.4% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Combined ratio: 81.1% (up from 80.7% in FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Feb 03
Trisura Group Ltd. to Report Q4, 2023 Results on Feb 08, 2024 Trisura Group Ltd. announced that they will report Q4, 2023 results After-Market on Feb 08, 2024 Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: CA$0.32 (vs CA$0.53 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.32 (down from CA$0.53 in 3Q 2022). Revenue: CA$735.5m (up 424% from 3Q 2022). Net income: CA$14.8m (down 38% from 3Q 2022). Profit margin: 2.0% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 65% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Oct 27
Trisura Group Ltd. to Report Q3, 2023 Results on Nov 02, 2023 Trisura Group Ltd. announced that they will report Q3, 2023 results After-Market on Nov 02, 2023 Announcement • Sep 19
Trisura Group Ltd. Names Terry Michalakos As Senior Vice President, North American Surety Trisura Group Ltd. announced the appointment of Terry Michalakos as Senior Vice President, North American Surety. Terry will support company's surety teams across North America to underwrite strategic opportunities, especially as Trisura looks to participate in surety bond requirements in support of the substantial infrastructure commitments announced in both Canada and the US. Terry is known in the North American surety marketplace as a seasoned executive, most recently leading surety for the 2nd largest surety writer in Canada. With close to 25 years of industry experience, Terry has a deep understanding of surety across all industry segments in Canada, the United States, and other parts of the world. With underwriting expertise supplemented by experience as a broker, Terry is sensitive to the needs of Trisura’s distribution partners and has proven adept at identifying opportunities for mutual growth. Announcement • Aug 22
Trisura Group Ltd. has completed a Follow-on Equity Offering in the amount of CAD 50.008 million. Trisura Group Ltd. has completed a Follow-on Equity Offering in the amount of CAD 50.008 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,520,000
Price\Range: CAD 32.9
Discount Per Security: CAD 1.316
Transaction Features: Regulation S; Rule 144A New Risk • Aug 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Announcement • Aug 12
Trisura Group Ltd. (TSX:TSU) signed an agreement to acquire US Surety Company. Trisura Group Ltd. (TSX:TSU) signed an agreement to acquire US Surety Company on August 9, 2023. Regulatory approval is pending. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: CA$0.58 (vs CA$0.49 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.58 (up from CA$0.49 in 2Q 2022). Revenue: CA$612.0m (up 384% from 2Q 2022). Net income: CA$26.8m (up 33% from 2Q 2022). Profit margin: 4.4% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 51% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • May 12
First quarter 2023 earnings released First quarter 2023 results: Revenue: CA$647.0m (up 491% from 1Q 2022). Net income: CA$14.0m (down 34% from 1Q 2022). Profit margin: 2.2% (down from 19% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 05
Trisura Group Ltd. to Report Q1, 2023 Results on May 11, 2023 Trisura Group Ltd. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 11, 2023 Recent Insider Transactions • Apr 05
President recently sold €163k worth of stock On the 31st of March, David Clare sold around 8k shares on-market at roughly €21.79 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €792k. David has been a net seller over the last 12 months, reducing personal holdings by €241k. Recent Insider Transactions • Mar 27
Insider recently sold €792k worth of stock On the 22nd of March, Michael Beasley sold around 37k shares on-market at roughly €21.31 per share. This transaction amounted to 93% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.8m more than they bought in the last 12 months. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: CA$0.57 (vs CA$1.52 in FY 2021) Full year 2022 results: EPS: CA$0.57 (down from CA$1.52 in FY 2021). Revenue: CA$526.1m (up 51% from FY 2021). Net income: CA$24.7m (down 61% from FY 2021). Profit margin: 4.7% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 64% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jan 28
Now 21% undervalued Over the last 90 days, the stock is up 5.1%. The fair value is estimated to be €36.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 563% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Announcement • Jan 05
Trisura Group Ltd. to Report Q4, 2022 Results on Feb 09, 2023 Trisura Group Ltd. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 09, 2023 Recent Insider Transactions • Nov 17
Insider recently sold €1.4m worth of stock On the 9th of November, Chris Sekine sold around 44k shares on-market at roughly €32.31 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.0m more than they bought in the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Janice Madon was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: CA$0.53 (vs CA$0.39 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.53 (up from CA$0.39 in 3Q 2021). Revenue: CA$141.2m (up 54% from 3Q 2021). Net income: CA$23.7m (up 48% from 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: CA$489 (vs CA$0.41 in 2Q 2021) Second quarter 2022 results: EPS: CA$489 (up from CA$0.41 in 2Q 2021). Revenue: CA$125.5m (up 46% from 2Q 2021). Net income: CA$20.2m (up 20% from 2Q 2021). Profit margin: 16% (down from 20% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 519%, compared to a 22% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: CA$0.51 (vs CA$0.47 in 1Q 2021) First quarter 2022 results: EPS: CA$0.51 (up from CA$0.47 in 1Q 2021). Revenue: CA$110.1m (up 71% from 1Q 2021). Net income: CA$21.1m (up 9.0% from 1Q 2021). Profit margin: 19% (down from 30% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 457%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Janice Madon was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €26.20, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 10x in the Insurance industry in Germany. Total returns to shareholders of 484% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €40.64 per share. Reported Earnings • Feb 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CA$1.52 (up from CA$0.83 in FY 2020). Revenue: CA$349.9m (up 59% from FY 2020). Net income: CA$62.6m (up 93% from FY 2020). Profit margin: 18% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 457%, compared to a 15% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.9%. The fair value is estimated to be CA$37.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% per annum over the last 3 years. Earnings per share has grown by 70% per annum over the last 3 years. Buying Opportunity • Jan 20
Now 20% undervalued Over the last 90 days, the stock is up 4.7%. The fair value is estimated to be CA$39.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% per annum over the last 3 years. Earnings per share has grown by 70% per annum over the last 3 years. Reported Earnings • Nov 06
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$91.7m (up 60% from 3Q 2020). Net income: CA$16.1m (up 146% from 3Q 2020). Profit margin: 18% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has increased by 97% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 05
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$86.7m (up 76% from 2Q 2020). Net income: CA$16.9m (up 156% from 2Q 2020). Profit margin: 20% (up from 13% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 14
Independent Director recently sold €725k worth of stock On the 12th of May, Barton Hedges sold around 7k shares on-market at roughly €104 per share. In the last 3 months, there was an even bigger sale from another insider worth €2.6m. Insiders have been net sellers, collectively disposing of €4.2m more than they bought in the last 12 months. Reported Earnings • May 06
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$64.9m (up 42% from 1Q 2020). Net income: CA$19.3m (up 131% from 1Q 2020). Profit margin: 30% (up from 18% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 16% share price gain to CA$96.00, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 11x in the Insurance industry in Germany. Total returns to shareholders of 510% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €97.57 per share. Recent Insider Transactions • Mar 11
President recently sold €2.6m worth of stock On the 3rd of March, David Clare sold around 32k shares on-market at roughly €81.47 per share. This was the largest sale by an insider in the last 3 months. David has been a seller over the last 12 months, reducing personal holdings by €2.5m. Is New 90 Day High Low • Feb 22
New 90-day high: €80.50 The company is up 58% from its price of €51.00 on 24 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €80.22 per share. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improved over the past week After last week's 27% share price gain to CA$78.50, the stock is trading at a trailing P/E ratio of 37x, up from the previous P/E ratio of 29.2x. This compares to an average P/E of 12x in the Insurance industry in Germany. Total returns to shareholders over the past three years are 407%. Reported Earnings • Feb 12
Full year 2020 earnings released: EPS CA$3.33 (vs CA$0.69 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$220.8m (up 62% from FY 2019). Net income: CA$32.4m (up CA$27.4m from FY 2019). Profit margin: 15% (up from 3.7% in FY 2019). The increase in margin was driven by higher revenue. Combined ratio: 85.5% (down from 87.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 57% per year whereas the company’s share price has increased by 58% per year. Is New 90 Day High Low • Feb 05
New 90-day high: €59.50 The company is up 2.0% from its price of €58.50 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €70.43 per share. Recent Insider Transactions • Dec 23
Insider recently sold €625k worth of stock On the 17th of December, Brian Lawson sold around 11k shares on-market at roughly €54.86 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €751k more than they bought in the last 12 months. Announcement • Dec 01
Trisura Group Ltd. Appoints George R. James as Chief Underwriting Officer, Surety, for the Organization’s New U.S. Surety Platform Trisura Group Ltd. announced the appointment of George R. James as Chief Underwriting Officer, Surety, for the organization’s new U.S. surety platform. This appointment will be effective January 4, 2021. George will lead Trisura’s entry into the U.S. surety market and head its U.S. surety operations. George is a seasoned surety leader with 25 years of experience, extensive market knowledge and deep-rooted relationships across the United States. George’s career includes 14 years in executive leadership positions at International Fidelity Insurance Company (“IFIC”), including the role of Executive Vice President and Chief Underwriting Officer. Recent Insider Transactions • Nov 26
Insider recently sold €138k worth of stock On the 19th of November, Richard Grant sold around 3k shares on-market at roughly €53.55 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €139k more than they bought in the last 12 months. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS CA$0.64 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CA$55.9m (up 32% from 3Q 2019). Net income: CA$6.54m (up 159% from 3Q 2019). Profit margin: 12% (up from 6.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year whereas the company’s share price has increased by 46% per year. 
