04:35 PM EST, 02/13/2025 (MT Newswires) -- Trisura Group ( TRRSF ) on Thursday reported a big increase in net income for the fourth quarter as insurance revenues increased.

The specialty insurance provider said it earned $19.25 million, or $0.40 per share, in the quarter, up 71% from $11.3 million, or $0.23, in the year-prior period. The company said the rise came on growth in the business, higher net investment income, as well as a lower loss ratio.

Operating income of $38.2 million, or $0.79, rose 47%, for the same reasons.

Insurance revenue increased by 5.2% to $794.2 million, led by strength in the company's primary lines; Surety, Corporate Insurance and Warranty. "Importantly, these are the lines that have the highest underwriting margin," the company said.

Chief executive David Clare in a statement noted the "strong" operating net income supported the company's highest ever annual operating net income of $135.8 million, driven by growth, strong underwriting, and higher net investment income.

Clare also noted growth, strong earnings, unrealized gains and the impact of foreign exchange lifted book value by 27% to $785 million, a record high. Profitability from core operations continued, resulting in a 19% Operating return on equity, he noted.

Trisura ( TRRSF ) shares closed down $0.02 to $33.71 on the Toronto Stock Exchange.