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TRISURA GROUP LTD . PRESS RELEASE TRISURA GROUP REPORTS FIRST QUARTER 2021 RESULTS - TORONTO , May 5 , 2021 Trisura Group Ltd. ( " Trisura ” or “ Trisura Group ” ) ( TSX : TSU ) , a leading international specialty insurance provider , today announced financial results for the first quarter of 2021 . David Clare , President and CEO of Trisura , stated , " Trisura's momentum continued in the first quarter of 2021 , with net income of $ 19.3 million , an increase of 130.8 % over the prior year . Strong underwriting performance and premium growth , supported by investment gains , contributed to a 16.1 % return on equity , meeting our mid - teens target ahead of plan . Premium growth was significant , increasing 82.6 % over the prior year , while disciplined underwriting in Canada contributed to an industry - leading 65.3 % combined ratio . Our US business sustained its trajectory of growth , binding a new record $ 224.7 million of gross premiums , and generating $ 6.4 million in net income . Reinsurance contributed to earnings through appropriate asset liability matching . Our balance sheet is well - funded to support future growth , with flexibility afforded by our 8.0 % debt - to - capital ratio and a newly achieved investment grade rating . " Highlights ✓ EPS of $ 1.84 in Q1 2021 compared to $ 0.94 in Q1 2020 . ✓ Book value per share of $ 30.04 , an increase of 6.4 % from December 31 , 2020 , driven by strong earnings . ✓ Gross and net written premiums growth of 82.6 % and 86.4 % in Q1 2021 was supported by continued momentum in US fronting and growth in Canada . Quarterly net income of $ 19.3 million grew 130.8 % compared to prior year , driven by strong growth and underwriting in Canada , growing profitability in the US , improved asset liability matching in our Reinsurance business and investment gains . ROE of 16.1 % compared to 6.8 % in Q1 2020 , meeting our mid - teens target despite dilution from our equity raise May 2020 , and achieved in the context of significant growth . GPW in Canada increased by 73.7 % in Q1 2021. Strong underwriting performance across all lines contributing to a 65.3 % combined ratio and a 27.4 % ROE . US premium and fee income growth , which reached $ 224.7 million and $ 9.5 million in the quarter , contributed to improved net income of $ 6.4 million and a 13.2 % ROE despite an increase in the capital base .