| Combined ITIC, ITIC Europe and TIMIA Financial Highlights for the year ended 31st May 2025 | Year end 2025 | Year end 2024 |
|---|---|---|
| US$ '000s | US$ '000s | |
| Gross premiums written | 76,427 | 71,906 |
| Reinsurance premiums (excess loss) | (5,524) | (5,229) |
| Claims incurred less excess loss reinsurance recoveries | (24,255) | (26,472) |
| Operating expenses | (26,859) | (25,514) |
| Operating result for the year before continuity credit, investment result and exchange result | 19,789 | 14,691 |
| Continuity credit | (18,770) | (15,660) |
| Operating result for the year before investment result and exchange result | 1,019 | (969) |
| Combined ratio (pre continuity credit) | 74% | 80% |
| Combined ratio (post continuity credit) | 99% | 101% |
| Investment result (realised and unrealised) | 28,987 | 31,247 |
| Taxation | (681) | (650) |
| Surplus for the year | 29,325 | 29,628 |
| Free reserves brought forward at 1st June | 259,642 | 230,014 |
| Free reserves carried forward at 31st May | 288,967 | 259,642 |
| Free reserves: | ||
| Assets under management including accrued interest | 373,216 | 343,913 |
| Other net assets | (5,857) | (8,298) |
| Less: Outstanding claims reserves net of reinsurance recoveries | (78,392) | (75,973) |
| Free reserves carried forward at 31st May | 288,967 | 259,642 |
Gross Premium Income
The following graph shows the growth in premium income of ITIC for the years ended 31st May:
Free Reserves Development
The reserves of the combined club at 31st May continue to grow through a strong investment performance and stable underwriting
Be The Difference
An environment consistent with our ambition.
Find out more
Get a quote
Fill in the relevant proposal form to receive a quote
Talk to our experts
Contact us at ITIC.
+44 (0)20 7204 2928