Conduit ‘passed first test’ after $28.6mn Q3 cat costs

03 November 2021

Conduit incurred $28.6mn in cat losses during Q3 stemming from Hurricane Ida and European flood, as it expanded gross written premium (GWP) to $291.2mn for the first nine months of the year.

In a Q3 trading update, the start-up said losses from the two major events equated to 2.9% of its net tangible assets, with $15.8mn

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