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Aug 10, 2023

Lancashire group 30 June results and trading statement

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The Lancashire group released its earnings and trading update today.

The full press release is available here as well as slides.

Gross premiums of US$1,184m compared to US$938m last year at the same time.

The profit after tax was US$159.2m compared to last year's US$31m.

Growth was driven by the following:-

• Growth primarily driven by the continued build out of casualty reinsurance lines.
• Strong new business growth in specialty reinsurance.
• Significant rate increases in property reinsurance.

Lancashire's renewal premium index for the reinsurance segment stands at 123% up from 107%.

Losses in the first half of the year were immaterial at US$50m and the investments made returns of US$63m.