man with headset working on computer

Trisura Group Ltd. Overview

Trisura is a leading specialty insurance provider operating in the Surety, Corporate Insurance, Warranty, Program and Fronting business lines of the market. Our operating subsidiaries include Canadian and US specialty insurance companies. Our Canadian specialty insurance subsidiary started writing business in 2006 and has a strong underwriting track record over its 19 years of operation. Our US specialty insurance company has participated as a highly reinsured entity in the non-admitted markets since early 2018 and is licensed as an excess and surplus lines insurer in Oklahoma with the ability to write business across 50 states. Our US specialty insurance company can also write business on an admitted basis in 49 states and the District of Columbia. We continue the process of applying for licenses in the remaining state.

Trisura has an experienced management team, strong partnerships with brokers, program administrators and reinsurers, and a specialized underwriting focus. We plan to grow by building our business in the US and Canada, both organically and through strategic acquisitions. We believe we can capitalize on favourable market conditions through our multi-line and multi-jurisdictional platform.

Reports & Filings

Events

Press Releases

Stock Information

  • Ticker Symbol

    TSU

  • Transfer Agent

    TSX Trust Company

Credit Ratings

Issuer and financial strength ratings have been assigned to Trisura Group Ltd. (“Trisura”), its operating subsidiaries and its securities by AM Best and DBRS. The ratings are reflective of Trisura’s well-capitalized balance sheet, its notable growth and strong financial performance, and its established position in the Canadian specialty and US programs market, including extensive relationships in the brokerage and reinsurance industries. The ratings also help to indicate Trisura’s ability to meet its obligations to policyholders, investors, and others.

Financial Strength Ratings (FSR)
AM Best
DBRS

Trisura Guarantee Insurance Company

A- (Excellent) Stable

A (low) Positive

Trisura Specialty Insurance

A- (Excellent) Stable

A (low) Positive

Trisura Insurance Company

A- (Excellent) Stable

A (low) Positive

Bricktown Specialty Insurance Company

A- (Excellent) Stable

Not rated

First Founders Assurance Company

A- (Excellent) Stable

Not rated

Issuer Credit Rating (ICR) / Issuer Rating
AM Best
DBRS

Trisura Group Limited

Not rated

BBB Positive

Senior Unsecured Notes Trading
AM Best
DBRS

Trisura Group Limited

Not rated

BBB Positive

Debt

Senior Unsecured Notes

CUSIP

89679AAA8

ISIN

CA89679AAA84

Principal Amount

C$75 million

Issue Date

June 11, 2021

Maturity Date

June 11, 2026

Coupon Dates

June 11 / December 11

Coupon

2.641%

All ratings are current as of June 11, 2025. Ratings information is provided via independent third-party resources. Trisura and its affiliates do not guarantee the accuracy, adequacy, completeness, or availability of ratings information. Additional information and the latest ratings are available on the web sites of the respective rating agencies. A rating is not a recommendation to buy, sell, or hold securities or to insure, and is subject to revision or withdrawal at any time by the rating agency. For further information on these ratings, please refer to the annual information form of Trisura dated February 28, 2025 and available on SEDAR+.

A focus on ESG

Trisura believes that acting responsibly toward all stakeholders is fundamental to operating a productive, profitable and sustainable business. This underlies our philosophy of conducting business with a long-term perspective in a sustainable and ethical manner.

Environment

Climate change is one of the greatest challenges of our times. Countries, including United Kingdom, United States, Germany, Italy, France and Japan, have committed to achieving net-zero emissions by 2050. Canada has made intensive efforts to target 40-50 percent emission reduction by 2030. Climate-related risks are strategically relevant to our business over time.

Although Trisura’s property exposure is primarily related to fronted programs, physical and weather-related risks have an impact on the property-exposed business that Trisura retains, and we continue to adapt our business to the impacts of climate change through enhanced catastrophe modelling, adjustments to pricing practices related to severe weather, continuing to refine how we select property-exposed business and structure appropriate reinsurance coverage.

Social

We recognize the importance of taking responsibility for charitable efforts, both globally and within the communities in which we operate.

We value our employees, actively seek opportunities to develop them and to ensure they are engaged. We are committed to fostering, cultivating, and preserving a culture of diversity and inclusion. Equity and inclusion are imperative to our business. To that effect, Trisura has also engaged a service provider to assist with the development of an equity framework, which we intend to implement.

Governance

The Board has ultimate oversight of ESG strategy, which includes oversight of climate related risks and opportunities. The Board receives regular updates on Trisura's ESG initiatives throughout the year.

The Governance Committee is responsible for implementing the board diversity policy, monitoring progress towards the achievement of its objectives and recommending to the Board any necessary changes that should be made to the policy. The Board committed to meeting the gender diversity target of at least 30% of Directors identifying as women; with the election of Sacha Haque at our 2024 annual meeting of shareholders the Board has exceeded this target with 4 out of 9 Directors identifying as women.

Please refer to our Management Information Circular and Management Discussion and Analysis for more detailed ESG-related disclosure.

Man holding a coffee mug

Corporate Governance

The Board of Directors is responsible for oversight of risk management and internal control systems and policies. The Board of Directors has established Board of Directors level risk committees at group and subsidiary levels, whose members are largely independent of management. These committees meet quarterly to oversee and challenge the development and effectiveness of risk management frameworks and priorities and to review risk reporting.

The Group Risk Management function, under the direction of the Group Chief Risk Officer, promotes sound and effective risk management across the Company by (i) ensuring the effective processes are in place to identify, assess, monitor, manage and report the risks to which the Company is or might be exposed, (ii) facilitating the setting of risk tolerances, limits and appetite by the Board and (iii) providing comprehensive and timely information on material risks which enables the Board and the Risk Committee to understand the overall risk profile of the Company. The Group Chief Risk Officer liaises with Risk Officers at subsidiary levels to develop consistency of approach with respect to risk identifying, assessing, monitoring, managing and reporting tailored to the operations of the subsidiaries.

All Risk Officers at group and subsidiary levels report directly to their relevant risk committees. In addition, there are management level risk and underwriting committees at group and subsidiary levels with escalation processes to Board of Directors level committees.

Trisura Group Ltd. Board of Directors

Trisura Group Ltd. Risk Committee

Trisura Group Ltd. Audit Committee

Trisura Canada Risk Committee

Trisura US Audit and Risk Committee

Group Risk Management Function

Entity Level Risk Management Functions

Entity Level Management Underwriting and Risk Committees

Contact Investor Relations

For information regarding Trisura Group Ltd. please contact:

Bryan SinclairSenior Vice President
Trisura Group Ltd.
416-607-2135
bryan.sinclair@trisura.com

Transfer Agent TSX Trust Company
416-682-3860
1-800-387-0825 shareholderinquiries@tmx.com