Insurance revenue climbs to £1bn for Canopius in half-year results

Canopius’ net insurance revenue climbed 42% to £1.05bn ($1.39bn) in the first half of 2025, according to the firm’s latest financial results.

In the half-year posting, the insurer also said it had seen insurance contract written premium reach £1.82bn ($2.41bn), up from £1.39bn ($1.84bn) in the second half of 2024.

Undiscounted combined operating ratio (COR), which had stood at 91.3% in the prior period, also improved, reaching 89.7%.

Likewise, discounted COR improved, moving to 84% from its previous rate of 85.4%.

Canopius’ UK business made up the majority of the group’s written premium, accounting for some £1.29bn ($1.7bn) of the £1.82bn ($2.41bn) total, with the UK seeing a 27% growth between periods.

The firm said the uplift came despite “seeing rate pressure in a competitive environment” in the UK.

Rate pressure

Neil Robertson, group chief executive at Canopius, said: “At Canopius, we are guided by a clear strategic vision focused on delivering attractive, sustainable returns by expanding in areas where we have a competitive edge or differentiated capabilities.”

He continued: “Despite rate pressure emerging across parts of our portfolio, the breadth of our business and the momentum we have generated in recent periods has been reflected in material premium growth at strong levels of rate adequacy. We were again able to demonstrate growth and profitability across our business regions in the UK, US, Bermuda and APAC.

“The group is well placed to capitalise on the strong fundamentals of our industry. The ongoing enhancement of our operational capabilities combined with our disciplined underwriting approach continues to position us well to take further advantage of emerging opportunities and sustain our profitable growth.”