• gross premium up by approx 41% compared to last year - ability to grow to this extent thanks to earlier capital raising;
• underwriting profit $127m ($39.4m in HY1 2020);
• their renewal price index at +111%;
• a low combined ratio of 80.7% which but for Uri would have been 65.7%;
• reserve releases $54m approx. (-$5.1m in HY1 2020) thanks to IBNR releases;
• reserves for Covid stable at $41.6m net.

The Press Release and and slides from the presentation to analysts available here.

Classes of business

• property and casualty reinsurance grew the most at 73% thanks new business and rate increases in the hardening market;
• property and casualty insurance grew 30% approx mainly in the D&F (direct and facultative) property area and an improving political risks class;
• aviation class saw the highest renewal prices at 113% and so new business added in aviation hull and liability;
• energy up too as market is "dislocated" except in exploration and production ("upstream") energy;

The cumulative rate increases achieved over the past three years has fed through into these numbers. Much lower first half loss ratio assisted considerably at 38.4% (22.6% absent "Uri").

Lancashire expects the rating environment to remain positive and they will retain profitable earnings for future growth.