Conduit Holdings Limited (CHL) has provided an update on its performance for the year ending 31 December 2023. The company, which is the ultimate parent company of Conduit Re, a Bermuda-based reinsurance business, anticipates its comprehensive income for the year to exceed current consensus forecasts. This positive variance is primarily attributed to substantial investment portfolio valuation gains resulting from a reduction in interest rates in the second half of 2023. CHL's investment strategy remains unchanged from previous reports.
CHL is set to announce its preliminary results for the year on 21 February 2024. The company's media contacts and investor relations details have been provided for further inquiries. Conduit Re, a subsidiary of CHL, is a Bermuda-based reinsurance business with global reach, licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited, with a stable outlook.
For those interested in learning more about Conduit Re, the company's website and LinkedIn page have been shared. The announcement contains inside information for the purpose of the Market Abuse Regulation (EU) No 596/2014. The information has been supplied by Euroland.com.
This update provides insight into CHL's positive performance and its subsidiary, Conduit Re's, strong financial standing, offering a glimpse into the company's future prospects and financial stability.