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TRISURA GROUP LTD . PRESS RELEASE TRISURA GROUP REPORTS THIRD QUARTER 2021 RESULTS - TORONTO , Nov 4 , 2021 Trisura Group Ltd. ( “ Trisura ” or “ Trisura Group ” ) ( TSX : TSU ) , a leading international specialty insurance provider , today announced financial results for the third quarter of 2021 . David Clare , President and CEO of Trisura , stated , “ Our business performed very well in the quarter , recording earnings of $ 16.1 million , an increase of 145.7 % over last year . Continued growth and strong underwriting , supported by investment gains , generated a 20.4 % return on equity , despite the early stage of several new initiatives . Expansion of market share , maturation of our platform and new products drove premium growth of 68.9 % over 2020. In Canada , focused and specialized underwriting resulted in a 79.3 % combined ratio . Our US business bound a record $ 260.5 million of gross premiums in the quarter , supporting $ 7.0 million in net income and significant deferred fee income . Our balance sheet remains well - funded to support future growth with a debt - to - capital ratio of 17.7 % . " Highlights EPS of $ 0.38 in Q3 2021 compared to $ 0.16 in Q3 2020. Q3 2021 Adjusted EPS of $ 0.41 compared to $ 0.15 in Q3 2020 . Book value per share of $ 8.49 increased by 26.3 % from September 30 , 2020 , driven by significant earnings and unrealized gains in the investment portfolio . Gross and net written premiums grew by 68.9 % and 62.1 % in Q3 2021 supported by continued growth in Canada and strong momentum in US fronting . Quarterly net income of $ 16.1 million grew 145.7 % compared to prior year , a result of both growth and strong underwriting in Canada , increasing fee income from the US , and appropriate asset liability matching in our Reinsurance business . ROE of 20.4 % compared to 11.7 % in Q3 2020 , exceeding our mid - teens target despite significant growth . GPW in Canada increased by 110.3 % in Q3 2021. Strong underwriting performance across all lines contributed to a 79.3 % combined ratio for the quarter and a 31.2 % ROE . New fronting arrangements in Canada contributed $ 46.4 million in the quarter and $ 101.9 million YTD .