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Trisura Group Q1 Operating Earnings, Insurance Revenue, Beat Forecast

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-- Trisura Group (TSU.TO) said after trade on Thursday said its first-quarter operating earnings and revenue rose, beating estimates.

Operating net income rose to $37.9 million, or $0.78 per share, from $34.2 million, or $0.70, in the prior-year period. The consensus estimate among analysts surveyed by FactSet expected $0.76 per share.

Insurance revenue of $779.64 million beat the $750 million forecast, while net insurance revenue grew 12% to $193.6 million. Underwriting income, which measures the profitability of an insurer's core business, edged up 2.2% to $30.5 million, the company said.

Combined ratio for the quarter deteriorated slightly, to 84.3%, from 82.7%.

Trisura shares closed down $0.30 to $43.15 on the Toronto Stock Exchange.

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