Trisura Group Ltd. (TSX:TSU)

Model N Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Investments in Debt Securities	1,201	1,025	530.38	582.73	383.38	299.45
Investments in Equity & Preferred Securities	78.9	69.7	50.07	135.51	192.5	107.88
Other Investments	11.84	14.34	7.5	47.14	5	5
Total Investments	1,627	1,435	890.16	765.38	641.14	492.76
Cash & Equivalents	247.81	270.38	604.02	406.37	341.32	136.52
Reinsurance Recoverable	2,638	2,771	2,004	1,528	1,389	676.97
Other Receivables	22.37	18.12	30.88	38.11	276.91	170.59
Deferred Policy Acquisition Cost	-	-	-	-	304.58	188.19
Property, Plant & Equipment	42.42	13.4	12.32	15.07	13.75	10.46
Goodwill	-	11.51	-	-	-	-
Other Intangible Assets	-	4.48	4.33	4.46	3.36	3.45
Other Current Assets	18.43	15.24	13.97	17.74	16.66	8.59
Long-Term Deferred Tax Assets	44.74	44.04	16.31	17.94	9.22	8.58
Other Long-Term Assets	1.65	9.03	8.86	6.01	3.98	10.62
Total Assets	4,642	4,592	3,584	2,799	3,000	1,707
Accrued Expenses	31.85	38.53	36.2	36.22	48.11	31.36
Insurance & Annuity Liabilities	3,488	3,546	2,770	2,165	-	-
Unpaid Claims	-	-	-	-	897.01	487.27
Unearned Premiums	-	-	-	-	1,117	692.99
Reinsurance Payable	-	-	-	-	408.11	151.71
Current Portion of Long-Term Debt	75	-	-	-	-	11.46
Current Portion of Leases	-	2.75	2.57	2.63	2.24	1.57
Current Income Taxes Payable	-	6.72	15.13	-	10.25	4.56
Long-Term Debt	59.77	98.27	75	75	75	16.1
Long-Term Leases	23.2	6.55	7.13	9.11	7.44	7.23
Long-Term Deferred Tax Liabilities	-	0.69	-	2.84	-	-
Other Current Liabilities	0.63	1.61	-	-	-	0.15
Other Long-Term Liabilities	120.8	105.45	59.04	14.32	76.15	12.48
Total Liabilities	3,799	3,807	2,965	2,305	2,642	1,417
Common Stock	480.02	481.8	481.02	430.26	285.04	285.73
Additional Paid-In Capital	10.43	9.8	7.49	5.74	3.5	1.33
Retained Earnings	328.61	262.49	143.57	101.81	66.69	4.13
Comprehensive Income & Other	23.97	31.18	-12.66	-44.17	3.57	-1.33
Total Common Equity	843.02	785.27	619.43	493.65	358.79	289.86
Shareholders' Equity	843.02	785.27	619.43	493.65	358.79	289.86
Total Liabilities & Equity	4,642	4,592	3,584	2,799	3,000	1,707
Filing Date Shares Outstanding	47.57	47.62	47.44	45.78	41.17	41.08
Total Common Shares Outstanding	47.57	47.62	47.44	45.78	41.17	41.08
Total Debt	157.97	107.57	84.7	86.74	84.68	36.35
Net Cash (Debt)	89.83	162.8	519.32	319.63	256.64	100.17
Net Cash Growth	-69.60%	-68.65%	62.48%	24.54%	156.20%	115.66%
Net Cash Per Share	1.85	3.36	10.98	7.22	6.10	2.53
Book Value Per Share	17.72	16.49	13.06	10.78	8.72	7.06
Tangible Book Value	843.02	769.28	615.1	489.2	355.43	286.42
Tangible Book Value Per Share	17.72	16.16	12.97	10.68	8.63	6.97
Machinery	-	6.19	4.43	3.88	3.57	3.19
Leasehold Improvements	-	4.37	2.99	2.98	2.95	1.58

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.