Conduit Holdings Ltd, the Bermudian-based reinsurer listed on the London Stock Exchange, reported an 8.5 per cent increase in gross premiums written to $1.04 billion for the first nine months of 2025, with growth across its property, casualty and speciality segments.

Neil Eckert, chief executive, said Conduit is repositioning parts of its portfolio “to drive more consistent returns” while strengthening retrocession coverage to reduce volatility. He added that Stephen Postlewhite will soon join the company as chief underwriting officer, and Nicholas Shott has been appointed an independent non-executive director.

Mr Shott brings more than 30 years of experience in financial services, including senior roles at Lazard, where he served as vice-chairman of European investment banking and head of United Kingdom investment banking. He has also held non-executive positions with several FTSE-listed companies, including Phoenix Group Holdings.

Conduit’s interim chair, Rebecca Shelley, said Mr Shott’s “financial expertise and strategic insight will be invaluable to the board”, while Mr Eckert added that the director’s broad experience “will be an asset to Conduit as we continue to improve our resilience and long-term value”.

Conduit’s investment portfolio grew to $2 billion, achieving a 5.4 per cent return over the period, driven by strong income and lower treasury yields. The company also announced the resumption of its $50 million share buyback programme, paused during peak hurricane season, and reaffirmed mid-single-digit return-on-equity guidance for 2025.

By segment, casualty premiums rose 20.2 per cent to $268.7 million, property grew 6 per cent to $568.3 million and speciality increased 2.2 per cent to $202.1 million. Reinsurance revenue climbed 12.6 per cent to $662.4 million.

Mr Eckert noted that market conditions “remain adequate” though some rate softening is expected. The company continues to favour short-duration, highly-rated investments, with fixed maturities comprising 90.8 per cent of the portfolio and average duration of 2.8 years.

A third-quarter interim dividend of 18 cents per share was paid in September, totalling nearly $30 million.