Conduit Re
Conduit Re is a Bermuda-based, LSE-listed (CRE) pure-play multi-line reinsurer providing proportional and excess of loss Property, Casualty, and Specialty reinsurance solutions globally to Lloyd's Syndicates, monoline specialists, and insurance companies, with $1.24bn GPW in FY2025.
- Company typePublic
- Founded2020
- HeadquartersHamilton, Bermuda
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Conduit Re does
Conduit Re is a Bermuda-based, pure-play multi-line reinsurer founded in December 2020 and listed on the London Stock Exchange (LSE: CRE) following an approximately $1 billion IPO that was the largest startup listing in LSE history at the time. The company provides proportional and excess of loss reinsurance across three core product lines — Property (catastrophe, per risk, pro rata/quota share, aggregate), Casualty (general liability, professional indemnity, D&O, healthcare/medical malpractice, environmental, financial institutions, transactional), and Specialty (aviation, marine, energy, engineering & construction, environmental, political violence/terrorism, renewables, specie & fine art, war) — to a global client base that includes Lloyd's Syndicates, monoline specialists, and regional and multinational insurance companies, distributed both directly and via brokers.
The company's technical platform centers on certified catastrophe modeling using Verisk AIR (CEEM) and Moody's RMS (CCRA), supported by an in-house actuarial and exposure-management team that handles short-tail pricing and portfolio analytics. All staff are co-located at the company's Pembroke, Bermuda headquarters (Ideation House, 94 Pitts Bay Road), enabling cross-functional collaboration across underwriting, risk, claims, and actuarial functions. The technology stack is conservative and vendor-leveraged rather than proprietary-AI-led, and the firm carries no disclosed patents or AI/ML products.
Conduit Re generates revenue through reinsurance premiums (written as excess of loss or proportional/risks-attaching contracts and recognized over the contract term) plus net investment income from a conservative AA-credit-quality fixed maturity and cash portfolio (2.8-year duration, 4.2% book yield). In FY2025, the company wrote $1,243.0 million of gross premiums (+6.9% YoY), generated $897.1 million of reinsurance revenue (+10.2% YoY), delivered 11.1% return on equity, maintained a 252% BSCR ratio on $1.10 billion of total capital, and holds an A- (Excellent) Financial Strength Rating from A.M. Best.
Conduit Re firmographics
Firmographics- Name
- Conduit Re
- Legal name
- Conduit Holdings Limited
- Website
- https://conduitreinsurance.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Conduit Re is a Bermuda-based, LSE-listed (CRE) pure-play multi-line reinsurer providing proportional and excess of loss Property, Casualty, and Specialty reinsurance solutions globally to Lloyd's Syndicates, monoline specialists, and insurance companies, with $1.24bn GPW in FY2025.
- Ownership category
- akta.pro rank
Conduit Re industry classification
Industry- Product category
- Reinsurance
- NAICS
- Reinsurance Carriers (524130), Insurance Carriers (5241)
- SIC
- Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Reinsurance Pool / Facility Treaty Participation (FSAOAEAL)
- akta.pro secondary industries
- Casualty Facultative Reinsurance (FSAOAFAB), Facultative Professional Liability Reinsurance (FSAOAFAG)
Keywords
Where Conduit Re is headquartered
LocationHeadquarters
- HQ city
- Hamilton
- HQ country
- Bermuda
Offices1 record
Markets served
Conduit Re business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Reinsurance Premiums: Conduit Re generates revenue primarily through reinsurance premiums written across Property, Casualty, and Specialty segments. Premiums are written as excess of loss and proportional (quota share) contracts. For excess of loss contracts, premiums are recorded based on minimum and deposit premium. For proportional contracts on risks attaching basis, premiums are written over the term of the contract in line with underlying exposures.
- Net Investment Income: Investment returns from a conservative fixed maturity and cash portfolio generate additional revenue. The investment portfolio maintains AA credit quality with 2.8 year duration and 4.2% book yield.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom reinsurance contracts negotiated based on risk profile and coverage requirements |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Conduit Re product offering
Product offeringCore offering
Conduit Re is a Bermuda-based pure-play multi-line reinsurer providing proportional and excess of loss reinsurance solutions across Property, Casualty and Specialty lines. The company serves Lloyd's Syndicates, monoline specialists, and regional and multinational insurance companies on a worldwide or region-specific basis, offering stand-alone to multi-class protections with a willingness to embrace complex risks.
Product overview
Conduit Re is a Bermuda-based multi-line reinsurer offering three core reinsurance product lines: Property, Casualty, and Specialty. The company provides proportional and excess of loss reinsurance solutions to clients globally, including Lloyd's Syndicates, monoline specialists, and regional and multinational insurance companies. Their Property segment covers catastrophe, per risk, pro rata/quota share, and aggregate protections. Their Casualty segment focuses on liability lines including general third-party liability, professional liability, D&O, and healthcare/medical malpractice. Their Specialty segment encompasses aviation, marine, energy, engineering, environmental, political violence, renewables, and war risks.
Differentiator
Problem solved
Functional benefit
Products and services
- Property Reinsurance Property reinsurance offering covering Property Catastrophe, Property Per Risk, Property Pro Rata (Quota Share), and Property Aggregate coverages for global insurance clients.
- Casualty Reinsurance Casualty reinsurance covering General Third-Party Liability, Environmental and Energy Liability, Healthcare/Medical Malpractice Liability, Professional Liability, Directors and Officers Liability, Financial Institutions Liability, and Transactional Liability.
- Specialty Reinsurance Specialty reinsurance covering Aviation, Contingency, Energy, Engineering & Construction, Environmental, Marine, Political Violence/Terrorism, Renewables, Specie & Fine Art, War, and Event capped QS of above XL lines.
Quantifiable outcome
- 6.9% growth in gross premiums written to $1,243.0 million in 2025
- +4 more outcomes
Companies that use Conduit Re
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles1 record
Conduit Re technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Conduit Re partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and supporting.
- Haggie PartnerscorePR Advisors to Conduit Re providing media relations, press release distribution, and communications support.
- Bermuda Monetary AuthoritycoreRegulatory authority that licenses and supervises Conduit Reinsurance Limited as a Class 4 insurer.
- United Nations Environment Programme Finance Initiative (UNEP FI)supportingConduit Reinsurance Limited is a member of UNEP FI, demonstrating commitment to environmental principles and sustainable finance.
- A.M. BestcoreCredit rating agency that assigned Conduit Reinsurance Limited a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of a- (Excellent).
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Conduit Re competitors and assessment
Company assessmentDirect peers
- Hamilton Insurance Group: Bermuda-based specialty insurer and reinsurer with Property, Casualty and Specialty lines. Comparable Bermuda domicile, scale, and multi-line treaty offering.
- RenaissanceRe: Bermuda-headquartered specialty reinsurer with leading Property Catastrophe and Specialty franchises. Directly comparable in business mix (Property, Casualty, Specialty) and Bermuda domicile.
- Lancashire Holdings: Bermuda-domiciled specialty insurer and reinsurer focused on Property, Marine, Energy and Aviation lines. LSE-listed (LSE: LRE) and a close functional peer given shared Bermuda roots, similar specialty focus, and comparable leadership pedigrees (Conduit's CFO came from Lancashire).
- AXIS Capital Holdings: Bermuda-based specialty insurer and reinsurer offering Property, Casualty, Professional Lines, and Specialty lines. Highly comparable multi-line Bermuda platform with overlapping product and customer set.
- PartnerRe: Global multi-line reinsurer offering Property, Casualty, Specialty and Life & Health reinsurance. Comparable diversified treaty and facultative offering across similar cedent base.
- Aspen Insurance Holdings: Specialty insurer and reinsurer with Property, Casualty, Marine, Energy and Aviation lines. Several Conduit executives previously worked at Aspen, making it an unusually close functional and human-capital peer.
- Validus Holdings: Bermuda-based multi-line reinsurer offering Property Catastrophe, Property Specialty, Casualty and Marine/Energy. Closely comparable multi-line Bermuda platform; several Conduit employees previously worked at Validus Re.
Broad incumbents
- Everest Group: Global multi-line reinsurer and insurer with significant Bermuda operations and a broad Property, Casualty and Specialty portfolio. Closest large-cap direct comp to Conduit Re's diversified treaty reinsurance model.
- Arch Capital Group: Bermuda-based multi-line insurer and reinsurer with Property, Casualty, Mortgage and Specialty lines. Comparable diversified platform and Bermuda domicile.
Regional players
- Hiscox: LSE-listed specialty insurer and reinsurer with significant Bermuda operations. Comparable specialty lines (Marine, Energy, Professional Liability) and LSE listing create an overlap in investor base and product set.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Conduit Re social profiles
Digital presenceConduit Re financial estimates
Financial estimateRevenue estimate
Valuation estimate
Conduit Re leadership team
Management profileNumber of profiles
Profiles4 records
Conduit Re subsidiaries and ownership
Company hierarchySubsidiaries2 records
Conduit Re funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Conduit Re M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Conduit Re
What does Conduit Re do?
Conduit Re is a Bermuda-based pure-play multi-line reinsurer providing proportional and excess of loss reinsurance solutions across Property, Casualty and Specialty lines. The company serves Lloyd's Syndicates, monoline specialists, and regional and multinational insurance companies on a worldwide or region-specific basis, offering stand-alone to multi-class protections with a willingness to embrace complex risks.
Is Conduit Re a public or private company?
Conduit Re is a public company. It is classified as public and is currently operating.
When was Conduit Re founded?
Conduit Re was founded in 2020. It employs 11 to 50 people.
Where is Conduit Re based?
Conduit Re is headquartered in Hamilton, Bermuda.
How does Conduit Re make money?
Two revenue lines are on record. Reinsurance Premiums are the primary driver. The others are net Investment Income.
Who are Conduit Re's main competitors?
Direct peers on record are Hamilton Insurance Group, RenaissanceRe, Lancashire Holdings, AXIS Capital Holdings, PartnerRe, Aspen Insurance Holdings and Validus Holdings. Broad incumbents are Everest Group and Arch Capital Group. Hiscox is listed as a regional player.
Does Conduit Re have an API?
No public API is recorded for Conduit Re.
What industry is Conduit Re in?
Conduit Re's product category is Reinsurance. Its primary akta.pro industry code is FSAOAEAL, Reinsurance Pool / Facility Treaty Participation, with a secondary code of FSAOAFAB, Casualty Facultative Reinsurance. Its NAICS code is 524130 and its SIC code is 6399.