Financial
Results

Key Financial Highlights

(In $ millions, except for per share data and ratios) For the year ended 31st December 2019 For the year ended 31st December 2018
Gross written premium 811.3 691.1
Net earned premiums

324.0

289.0
Loss ratio(1) 40.1% 29.1%
Combined ratio(2)

86.9%

77.5%
Steady state combined ratio(3) 66.9% 78.2%
Total investment return(4) 4.0% 1.1%
Fully diluted book value per share(5) 8.02 7.80
Return on Equity(6) 8.3% 6.2%
Steady State Return on Equity 13.5% 15.5%
Preferred equity 242.2 242.2
Common equity 1,118.0 963.2
Total Shareholders’ Equity 1,360.2 1,205.4
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