Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 9, 2024

Article Excerpt

TRISURA GROUP LTD., $40.49, symbol TSU on Toronto, took its current form on June 22, 2017, when Brookfield Asset Management Inc. (now Brookfield Corp.) spun off its specialty insurance business as Trisura. Investors received one Trisura share for every 170 Brookfield shares they held. Trisura provides specialty insurance and services not available through traditional insurers. Claims under these policies are less frequent but can be much higher. The company cuts that risk with reinsurance contracts. Trisura uses that coverage, purchased from another insurance provider, to insulate itself (at least in part) from the risk of a major claims event. The company has two main businesses: Trisura Specialty, which includes U.S. Surety and Corporate insurance lines (31% of revenue), and Trisura US Programs, which provides several different specialty forms of insurance in the U.S. market (69%). In the quarter ended June 30, 2024, the company’s revenue jumped 16.2% to $772.2 million from $664.4 million a year earlier. Excluding one-time items, its earnings rose by 20.1% to…