Conduit Re's comprehensive income in the first half of 2024 was up 24.8 per cent year-on-year at $98.1 million, which compares with $78.6 million in 2023.

Gross premiums written were $737.8 million, a 36.1 per cent jump from the 2023 first-half figure of $542.2 million.

Net reinsurance revenue was $338.2 million, up 39.3 per cent.

The net investment result was $23 million, up slightly on the 2023 first-half figure of $22.6 million.

Trevor Carvey, chief executive officer, said: "In another active period for industry loss events we are pleased to have produced an RoE [return on equity] of 9.9 per cent for the half year.

"Our 36.1 per cent premium growth reflects our well-established distribution channels and our maintenance of underwriting discipline.

"Property and specialty, in particular the non-catastrophe exposed lines, again attracted our attention and capital deployment.

"In casualty, while industry underwriting margins are tighter in our view, our casualty book is continuing to support our balanced underwriting portfolio."

Neil Eckert, executive chairman, added: "Our results represent the team's continued ability to grow our underwriting business successfully.

"Progression across earnings, premium and assets under management has been substantial and supports the delivery of increasing shareholder value."