Reinsurance News
Lancashire Group
Hurricane Ian has tipped the balance; expect severe dislocation for 2023 renewals: Lancashire CUO
3rd November 2022
Even prior to the 2022 wind season, specialty re/insurer Lancashire Holdings expected catastrophe-exposed lines to harden considerably for next year, and according to Group Chief Underwriting Officer (CUO), Paul Gregory, Hurricane Ian has "tipped the balance". Speaking recently during an earnings call to discuss Lancashire's 9M 2022 results, Gregory and ... Read the full article
Lancashire Group makes slew of hires and promotions
11th October 2022
Lancashire Group has made a raft of hires and appointments. The firm said in a LinkedIn post that it had hired Angus Roberts to be its new head of airline, while Francis Lobo has been appointed as head of engineering. The news of Roberts’s hire first broke a few months ago and ... Read the full article
Lancashire grows premiums by 35% in H1 2022 as combined ratio strengthens
27th July 2022
Lancashire Holdings Limited has announced an almost 35% rise in gross premiums written (GPW) for the first half of 2022 to $938.1 million, as the company's underwriting performance strengthened with a lower combined ratio of 78.2%. Alongside the growth in GPW, Lancashire has reported net premiums written (NPW) growth to over ... Read the full article
Lancashire Insurance says aviation losses from Russia-Ukraine ‘manageable’
31st March 2022
Lancashire Insurance says that its exposure to the Russia-Ukraine conflict is ‘manageable’. Speaking on a conference call hosted by Berenberg in London at the weekend, the firm said that its exposure to Russia-Ukraine was manageable and that its worst-case scenario remains an earnings event, not a balance sheet one. According to Lancashire, ... Read the full article
Lancashire happy with business mix, 2022 outlook remains positive: CEO Maloney
15th February 2022
Non-catastrophe, capital light lines are lowering the volatility of Bermuda-based Lancashire Holdings' results, even in challenging years, according to its Chief Executive Officer (CEO), Alex Maloney, who further explained that the company’s outlook is positive for 2022. During Lancashire's 2021 results call, Maloney noted that he expects the company to grow ... Read the full article
Lancashire grows substantially in P&C reinsurance but losses dent 2021 result
11th February 2022
Bermuda-based Lancashire Holdings Limited has reported its highest ever gross premiums written (GPW) in 2021 at $1.2 billion, although the firm has fallen to a comprehensive loss for the year on the back of significant catastrophe losses and some unrealised investment losses. Year-on-year, Lancashire's GPW rose by an impressive 50%, as ... Read the full article
More lines hitting rate adequacy but discipline remains paramount: Lancashire execs
29th July 2021
After several years of rate increases, underwriting conditions remain favourable with more lines of business achieving rate adequacy, but this shouldn’t be viewed as an invitation to relax underwriting discipline, according to executives at specialty insurance and reinsurance group, Lancashire Holdings. Announcing its first half 2021 financials yesterday, Lancashire reported ... Read the full article
Lancashire reports strongest ever Q1 premium; up to $45m of Uri losses
29th April 2021
Lancashire Holdings Limited has announced its strongest ever first quarter premiums for 2021 as gross premiums written (GPW) increased by 46.1% year-on-year to $354.8 million, with a renewal price index of 112%. The growth in premiums written was largely a result of growth in the property and casualty (P&C) reinsurance segment ... Read the full article
Lancashire sees GWP rise 15.2% to $814mn in 2020
10th February 2021
Specialty re/insurance underwriter Lancashire saw gross premiums written increase by 15.2% year on year to $814.1 million in 2020. Meanwhile the firm’s combined ratio was confirmed at 107.8%, a figure which included the impact of COVID-19. Overall profit after tax was $4.2 million while Lancashire’s investment portfolio generated returns of 3.9% for ... Read the full article
Jan 1st renewals to be one of the hardest markets in years: Lancashire CEO
6th November 2020
Alex Maloney, the Chief Executive Officer (CEO) of Lancashire Holdings Limited, believes that the January 1st, 2021 reinsurance renewal season is going to be one of the hardest markets witnessed in years. In response to a lengthy soft market state, heavy catastrophe losses and low interest rates, exacerbated by the impacts ... Read the full article
Lancashire reports increases in premium rates and new business volumes
5th November 2020
In announcing its trading statement for the first nine months of the year, Lancashire Holdings Limited has reported a 14% increase in gross premiums written (GPW) to $658.7 million, and a group renewal price index (RPI) of 112% for the period. Lancashire attributes the year-on-year rise in GPW to increases in ... Read the full article
Lancashire to expand into hard market, venture into casualty lines: CEO & CUO
29th July 2020
Lancashire Holdings, the specialty insurance and reinsurance underwriter, is targeting expansion of its book into 2021, to take advantage of the hardening and dislocated market, including into casualty risks, a new class of business to the firm. Discussing the move, CEO Alex Maloney explained that, "It feels like the time for ... Read the full article
Lancashire’s equity share placing raises £277 million
10th June 2020
Specialty insurer and reinsurer Lancashire Holdings Limited has announced the successful completion of the placing of new common shares, raising gross proceeds of approximately £277 million as the firm looks to take advantage of improved pricing. Lancashire revealed yesterday that it was looking to raise fresh capital with an up ... Read the full article
Lancashire targets up to $365m equity capital raise
9th June 2020
Lancashire Holdings Limited, the specialty insurance and reinsurance underwriter, has joined the ranks of companies seeking to take advantage of market conditions by raising fresh capital, with an up to $365 million target for a new equity share placing. Lancashire follows other specialty players including RenaissanceRe, Hiscox and Read the full article
Lancashire expected to go for growth, Morgan Stanley analysts say
2nd June 2020
Analysts at Morgan Stanley are expecting Lancashire Holdings Limited to take advantage of the hardening market and expand its footprint, while at the same time improve profitability on the back of better pricing. With P&C pricing anticipated to improve further in 2020 and potentially into 2021, Lancashire is well placed to ... Read the full article
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