Provides specialty insurance, surety bonds and fronting insurance programs in Canada and the US.
In fronting, it issues policies on behalf of managing-general agents and passes most of the risk to reinsurers, keeping a fee and a small share, so growth in premium volume matters more than underwriting results there. Its surety business writes performance bonds for contractors and carries more classic insurance risk. Based in Toronto.
Products and services
Surety bonds (Canada)
Specialty/program insurance (Canada)
US fronting insurance platform
Customers
Construction/commercial surety clients
MGAs and program administrators (US fronting)
Where it sits in the supply chain
Financial services
Specialty insurance
Surety + program/fronting insurance
What could go right
Growth of the US MGA/fronting insurance market
Surety demand tied to construction activity
What could go wrong
Reinsurance/counterparty concentration risk in fronting model
Regulatory scrutiny of fronting arrangements
Moat: narrow (regulatory licence, distribution). Licensed fronting/surety carrier relationships with MGAs are hard to replicate quickly.
SizeTrisura (TSU.TO) is a Canada Financials company (Specialty Insurance) with a market value of $1,000M, the 249th largest of 420 Canada companies the cockpit tracks. Shares closed at C$29.58 on 6 Nov 2026.
Performance Over six months the shares fell 31.4%, against +1.3% for the median peer and +5.2% for the Canada market (cap-weighted) — 2nd lowest of 8 in its peer set.
Growth Revenue grew 0.5% over the last twelve months (peer median +3.0%); the operating margin is 82.7% (peer median 17.7%).
Valuation It trades at 1.39× book value against a peer median of 0.86× (3rd most expensive of 8).
Price implies The share price implies a return on equity of about 8.0%; Trisura delivers 16.9%, so the price asks less than the business earns today.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
Relative performance
Six months, rebased to 100: Trisura against the median of its 7 peers (local-currency closes).
Trisura financials
Reported figures in CAD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Performance: 6-month against 1-month return
Up and to the right = strong over both horizons. Trisura is the large dot.
Fundamentals: return on equity against price-to-book
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Trisura is the large dot.
Capital: ROE delivered against the ROE the price implies
Above the diagonal = the price asks for a higher return on equity than the business earns today. Trisura is the large dot.
Trisura competitors and peer comparison
Head to head with its named competitors (TSU.TO vs IFC.TO vs DFY.TO)
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
Trisura against its 7 peers (data as of 6 Nov 2026)
Measure
TSU.TO
Peer median
Rank in peer set
1-month return
-27.1%
+1.0%
lowest of 8
6-month return
-31.4%
+1.3%
2nd lowest of 8
Return on equity
16.9%
9.4%
3rd highest of 8
Price / book
1.39×
0.86×
3rd most expensive of 8
Trailing P/E
9.2×
10.8×
3rd cheapest of 7
ROE the price implies
8.0%
8.8%
4th least demanding of 8
ROE delivered
16.9%
9.4%
3rd highest of 8
Peer table
Peer set: Industry: the same industry and sector in any market, nearest in size
Named competitors: Intact Financial (IFC.TO), Definity Financial (DFY.TO), James River Group (private or unlisted). The cockpit's measured peer set (industry) also includes Helia (HLI.AX), Conduit (CRE.L), Stewart Information Services (STC), Tiptree (TIPT), Investors Title (ITIC), Coface (COFA.PA).
Is Trisura expensive compared with its peers?
On price / book it trades at 1.39× against a peer median of 0.86×, 3rd most expensive of 8 in its peer set. The share price implies a return on equity of about 8.0%; Trisura delivers 16.9%, so the price asks less than the business earns today.
How has Trisura stock performed?
Over six months to 6 Nov 2026 the shares returned -31.4% against +1.3% for the median peer; over one year -21.4%.