Conduit Capital, an investment holding company with stakes in insurance and investment businesses, said a turnaround in its performance was “pleasing” and had continued into its new financial year.

The Johannesburg-based company brought in a new management team at its insurance business, Constantia Insurance Group (CIG), in February 2020. CIG has since delivered 10 consecutive months of underwriting profits and a combined ratio of 99.8% in the six months to December 31, down from 111.3% in the prior comparable period, according to a Thursday trading update. A combined ratio is a profitability measure used by insurance companies and is calculated by dividing total incurred losses and expenses by total earned premiums...

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