Trisura Group Ltd. ('Trisura' or 'Trisura Group') (TSX: TSU), a leading international specialty insurance provider, today announced financial results for the third quarter of 2020.

David Clare, President and CEO of Trisura, stated, 'In the third quarter Trisura generated net income of $6.5 million - over 150% greater than Q3 2019 - driven by strong results in Canada, continued profitability in the U.S., and investment gains. In Canada, disciplined underwriting and consistent investment returns generated an industryleading 20% return on equity. Our U.S. business maintained its trajectory of growth, binding a new record of $171.0 million of quarterly gross premiums and generating $3.7 million in net income.

Highlights

Gross and net written premiums growth of 109.5% and 72.4% in Q3, supported by momentum in our U.S. operations and continued growth in Canada.

Net income of $6.5 million in the quarter grew 157.0% compared to prior year, driven by strong underwriting in Canada, continued profitability in the U.S and investment gains.

Consolidated LTM ROE of 11.7%, which includes dilution from the equity raises in September 2019 and May 2020, compared to 1.9% at Q3 2019.

Book value per share of $26.86, a 24.5% increase from December 31, 2019, driven by the equity raise in May and supported by positive net income.

EPS - diluted of $0.62 in Q3 2020 was impacted by share-based compensation as a result of rising share price but compared favourably to $0.37 in Q3 2019.

Premiums grew in our Canadian business by 58.9% in Q3 2020. Exceptional surety performance contributed to achieving a 91.5% combined ratio and a 20.0% LTM ROE.

Continued growth in our U.S. business, producing $171.0 million in GPW in the quarter and $3.7 million in net income, and reaching a 9.7% LTM ROE despite two significant capital injections.

Sufficient capital in our US operations supported an increase in A.M. Best size category from size VII to size VIII.

About Trisura Group

Trisura Group Ltd. is an international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company in Canada, Trisura Specialty Insurance Company in the US and Trisura International Insurance Ltd. in Barbados. Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol 'TSU'. Further information is available at http://www.trisura.com/group. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group Ltd. are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group's SEDAR profile at www.sedar.com.

Contact:

Tel: 416 607 2135

Email: bryan.sinclair@trisura.com