Odyssey Group, part of Fairfax Financial Holdings, has released its financial statements for Q1 2023, revealing a rise in its combined ratio year-on-year.
The Group has reported a combined ratio of 96.4% for Q1 2023, which is higher than the Q1 2022 of 93.7%.
Odyssey reported gross premiums written of $1.5 billion in Q1 of 2023.
This is a 6.5% increase in the gross premiums written from Q1 of 2022, which was $1.4 billion.
The Group also reported net premiums written of $1.4 billion for the quarter.
This is a 6.8% increase in the net premiums written from Q1 of 2022, which was $1.3 billion.
For full-year 2022, the firm’s gross written premium were $6.8 billion, so according to the Q1 reports of 2023, the group seems to be in line with their expectations of growth this year.
Fairfax Financial Holdings Limited, Odyssey’s parent, announced its Q1 2023 financial results where the company saw net earnings of $1.3 billion in Q1 2023 compared to net earnings of $588.7 million in Q1 2022.
