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Conduit Re reports higher H1 2026 reinsurance revenue and improved ratio
Reinsurance revenue rose 5.2% to $455.9 million, while Conduit Re’s undiscounted combined ratio improved to 92.6% from 122.1% in the prior-year period.
Bermuda-based reinsurer Conduit Re said it generated $455.9 million in reinsurance revenue in the first half of 2026, up 5.2% from $433.3 million in the same period of 2025. The increase reflected renewals, selective growth opportunities, changes in business mix, and an earn-out tied to premiums from prior underwriting years, according to Reinsurance News.
By line of business, the Property segment contributed $241.4 million of H1 2026 reinsurance revenue, higher than the prior-year period, while the Casualty segment generated $143 million, also up year on year. Specialty revenue was $71.5 million versus $75.6 million in H1 2025. Gross premiums written fell to $789 million, down 1.8% from $803.3 million.
Conduit Re reported an undiscounted combined ratio of 92.6% for the six months ended 30 June 2026, improving from 122.1% a year earlier. The company attributed the change primarily to a more benign natural catastrophe environment, and it said losses related to Middle East conflict events were not material, either individually or in aggregate.
In financial results, Conduit Re posted an investment result of $25.3 million, a return of 0.9%, as growth in net investment income was largely offset by unrealised investment losses linked to rising Treasury yields. Comprehensive income was $80.3 million, equating to a 7.8% return on equity, Reinsurance News reported, citing CEO Neil Eckert on progress during the period.