Thankfully we are nearing the end of what has been a challenging year. Regardless of your traditions, we will all spend the holiday season differently this year. What will remain consistent is the holiday spirit and it being a time for hope, rest and reflection. There is much hope for 2021 as vaccines should be made available to many. Please encourage your friends, family and colleagues to remain resilient and to be patient as there is light at the end of the tunnel.
As Trisura looks to 2021, we are committed to our brokers and striving to be a step above. This past summer many of our brokers graciously completed our survey and provided us with valuable insights. Your message to us was clear:
- You trust Trisura and rely on us for consistency, strong personal relationships, enthusiasm, our willingness to listen and collaborate, being solutions focused and remaining a broker-only company;
- We must remember our roots and maintain the identity that has brought success as we continue to grow our specialty lines company, while keeping an entrepreneurial spirit that cares and provides unparalleled service;
- You want more of Trisura, which includes capacity, products and great people.
As we create our roadmap for the future, your insights will form the foundation of our plans. Although 2020 has been a challenging year on many fronts, for Trisura it was transformative in many ways. The pandemic sharpened our focus, and my great colleagues at Trisura soldiered on and continued to deliver. We raised a significant amount of capital to facilitate the growth of our business, increased our revenue base in Canada by almost 60% through the third quarter, planned and announced our January 2021 entry into the U.S. surety market and facilitated new insurance capacity in Canada through unadmitted reinsurers, all while delivering an industry-leading combined ratio of 85%.
Last year at this time (pre-covid) I shared a passage entitled “Man in the Arena,” which was an address delivered by Theodore Roosevelt in 1910. In 2020 I have replaced the word man with person. As a reminder, it goes like this:
It is not the critic who counts; not the person who points out how the strong person stumbles, or where the doer of deeds could have done them better. The credit belongs to the person who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends themself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if they fail, at least fails while daring greatly, so that their place shall never be with those cold and timid souls who neither know victory nor defeat.
I can think of no better time to recite this passage. For Trisura, this passage rings true; especially during the pandemic. I hope it helps to inspire you as it has for us. Our team stayed in the arena and you can always count on us being there, helping you succeed and striving to create an exceptional experience.
Thank you for continuing to place your trust in Trisura and in our people.
There is much to look forward to in 2021 and I am hopeful there are better times ahead. May the holiday season provide you with some respite. From our families to yours, we wish you a happy and safe holiday season and good health and success in 2021.