Conduit Holdings Ltd (LSE:CRE)

Q4 2025 Conduit Holdings Ltd Earnings Call Transcript

Feb 18, 2026 / 12:00 PM GMT

Release Date Price: £3.81 (-6.05%)

Transcript

Key Points

Positve

Conduit Holdings Ltd (STU:CHO) achieved a double-digit ROE of 11.1% despite a challenging start to 2025.
Gross premiums written increased by nearly 7% year-on-year, reaching $1.24 billion.
The company delivered a strong investment performance with a 6.7% return, contributing $119.5 million of income.
Net tangible assets per share increased by 11.9%, including dividends, reaching $7.14 or GBP5.30 per share.
Conduit Holdings Ltd (STU:CHO) returned $59.4 million to shareholders through dividends and repurchased 2.7 million shares for $12.5 million.

Negative

The company's undiscounted combined ratio increased to 101.5% from 97.1% in the prior year, impacted by the California wildfires.
Risk adjusted rates reduced by 3% for the year, with a 5% rate decline in both property and specialty segments.
Specialty gross premiums written decreased by 4% due to more competitive market conditions.
The company experienced a larger loss than expected from the California wildfires, impacting the overall financial performance.
The cost of retrocession increased, reflecting a more comprehensive program to cover secondary perils.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRE.L - Conduit Holdings Ltd
Q4 2025 Conduit Holdings Ltd Earnings Call
Feb 18, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, everyone. Welcome to Conduits full year 2025 results presentation. We appreciate your time today as we discuss our performance for the year.

Joining me on the call are Neil Eckert, Chief Executive Officer, Elaine Whelan, Chief Financial Officer.

Please note our disclaimer language on slide 2.

I will now turn the call over to our CEO Neil Eckert.

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Unidentified_2 [2]
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Thanks Brett. Welcome to our presentation. As Brett mentioned, I'm joined by Elaine Whelan, our CFO.

Today's presentation will cover our

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