Log In

Company said turnaround was primarily because of a decrease in selling, general and administrative expenses

Latest results show growth in underwriting profit, investment returns and gross written premiums

Q2 adjusted earnings before interest, taxes, depreciation and amortisation was $59.9 million

Company reported sales in the quarter of $1.6 billion, down $141.3 million, or 8.1 per cent year-on-year

The company’s annualised operating return on average equity was 22 per cent

Gross premiums written were $957.2 million, growth of 25.3 per cent from Q2 2022

The company declared its 78th consecutive quarterly dividend of $0.24 per share

To date in 2023, Borr has been awarded seven new contracts and six extensions to existing contracts representing 2,613 days and $376 million of potential revenue

The company expects revenue growth in the second half of the year as all 13 of its ships will be in operation

Insurance company benefits from sustained hard market conditions, producing another set of exceptional results across all key measures in the second quarter of 2023

The company said its acquisition of Argo Group remains on track to close in the second half of 2023

Holding company includes Build America Mutual, Ark, Kudu Investment Management and MediaAlpha