Canopius Group posts 24% profit rise to $222m in H1 2025

Thanks to higher premium volumes and improved underwriting.

Canopius Group reported a 24% year-on-year (YoY) increase in profit after tax to $222m for the first half of 2025, supported by higher premium volumes and improved underwriting margins.

Insurance contract written premium rose 31% YoY to $2.41b, whilst net insurance revenue increased 42% YoY to $1.39b. 

The group’s net combined ratio improved to 89.7% on an undiscounted basis, compared to 91.3% a year ago. 

On a discounted basis, the combined ratio was 84.0%, versus 85.4% in the first half of 2024.

Canopius also reported an annualised return on opening tangible equity of 24.5%, up from 23.9% YoY. 

Its tangible net asset value rose to $2.04b from $1.81b at the end of 2024.

Group CEO Neil Robertson said the company remains focused on underwriting discipline and sees continued opportunities to expand in segments where it holds a competitive advantage.