Reinsurance News
Lancashire Group
Prudent use of reinsurance helped Lancashire reduce Q3 losses
10th October 2018
Specialty insurance and reinsurance group Lancashire Holdings Limited recently reported a $30 million net loss within its marine book of business, but analysis from Peel Hunt highlights how the company's prudent use of reinsurance mitigated its exposure to third-quarter loss events. Lancashire announced recently that it expects to record a ... Read the full article
Lancashire appoints two to replace Sylvain Perrier
11th September 2018
Lancashire Holdings Limited has announced the appointment of James Irvine as the Chief Underwriting Officer (CUO) for Lancashire Insurance Company Limited in Bermuda, effective October 1st, 2018. At the same time, the firm has announced that Ben Readdy has been appointed as Group Chief Actuary for Lancashire Holdings Limited, effective January ... Read the full article
Price increases slow but sanity is returning to the market: Lancashire CEO
26th July 2018
Alex Maloney, the Group Chief Executive Officer (CEO) of Lancashire Holdings Limited, has said that while the firm has been able to take advantage of rate increases across most lines of business, pricing continues to decline from the peak witnessed at the January renewals. The specialty insurance and reinsurance group has ... Read the full article
Lancashire appoints Sally Williams to Non-Exec Director role
20th July 2018
Specialty insurer and reinsurer Lancashire Holdings has announced the appointment of Sally Williams as Non-Executive Director, effective early 2019. “We are delighted to welcome Sally to Lancashire as a Non-Executive Director. Sally has significant regulatory, risk and accounting experience with a particular knowledge of the insurance and insurance distribution markets,” said ... Read the full article
Rates won’t strengthen further, but equally won’t go backwards: Lancashire CEO
16th May 2018
Group Chief Executive Officer (CEO) of Lancashire Holdings Limited, Alex Maloney, doesn't expect rates for the firm's book to get any stronger from here unless loss activity picks up, but also doesn't see rates going backwards. Lancashire Holdings has now reported its first-quarter 2018 results, reporting minimal loss activity and positive ... Read the full article
It’s not a hard market, just a better one, says Lancashire Holdings
19th February 2018
Despite 2017 catastrophe losses driving rate increases at the January 1st, 2018 renewals season, the shift in demand and supply remains insufficient to push the sector into a hard market, according to Paul Gregory, Lancashire Holdings Group Chief Underwriting Officer (CUO) and Chief Executive Officer (CEO) of Lancashire Insurance Company ... Read the full article
Tom Milligan set to retire as Lancashire board Non-Executive Director
16th February 2018
Lancashire Holdings has announced that Tom Milligan will retire as a Non-Executive Director from the Lancashire board with effect from March 31st, 2018. After serving in the role for the last three years, Milligan will not stand for re-election at the 2018 annual general meeting. Peter Clarke, Lancashire’s Chairman, said; “I would ... Read the full article
Market has “turned a corner” but 2018 will still be challenging: Lancashire CEO
15th February 2018
The re/insurance market has "turned a corner" following the major catastrophe losses of 2017, but despite this the CEO of Lancashire Holdings expects 2018 will be another challenging year for the industry. Lancashire reported a negative year for 2017, with return on equity falling to -5.9% for the year. But the ... Read the full article
Lancashire to take advantage of more positive 2018 as market shifts
2nd November 2017
On the back of a very challenging third-quarter for reinsurers, Lancashire Holdings expects to take advantage of a return to more disciplined underwriting practices and improved pricing that reflects true risks and exposures. Like numerous insurers and reinsurers, Lancashire reported a loss for the third-quarter of 2017, as the combined impacts ... Read the full article
Lancashire puts Harvey, Irma, Maria & Mexico quake losses at up to $212m
9th October 2017
Lancashire Holdings' aggregate net losses from Hurricanes Harvey, Irma and Maria and the two Mexico earthquakes are estimated to be between $106 million to $212 million, net of reinsurance, and including reinstatement premiums. These losses include the carrier's exposures through its Bermuda, UK and Lloyd's operations' exposures as well as Kinesis ... Read the full article
Lancashire makes three senior promotions
1st September 2017
Lancashire Holdings Limited, an international provider of specialty insurance and reinsurance solutions, has announced three internal senior promotions. This includes the promotion of James Irvine to Deputy Chief Underwriting Officer (CUO) for Lancashire Insurance Company Limited (LICL) in Bermuda, effective September 1st, 2017. Irvine joined the firm in 2010 and is currently ... Read the full article
“Cracks” beginning to appear in re/insurance market: Lancashire CEO, Maloney
9th May 2017
Persistent rate reductions, a continued oversupply of capacity and minimal loss activity isn't expected to materially change the outlook of the re/insurance market, but cracks are starting to appear in the space, according to the Chief Executive Officer (CEO) of Lancashire Holdings, Alex Maloney. Specialist Bermuda and London insurance and reinsurance underwriter, Lancashire ... Read the full article
Reinsurance market is “creaking” as softening persists: Lancashire CEO
3rd April 2017
The testing, softening reinsurance market is "creaking" as interesting developments start to take shape and movements in the market begin to unfold, underlining the need for discipline in the current environment, says Lancashire Holdings Chief Executive Officer (CEO), Alex Maloney. Discussing the potential for a hard market in the coming months ... Read the full article
Reinsurance operating at margins of profitability: Lancashire CEO
17th March 2017
Specialty insurer Lancashire said the carrier was bracing for a market cycle reversal with the reinsurance industry operating on the margins of profitability and slowing price declines indicating an upturn on the horizon. Lancashire Group Chief Executive Officer (CEO), Alex Maloney, said; “I firmly believe that the insurance business is cyclical. ... Read the full article
Lancashire appoints Andrew McKee CEO of Cathedral Underwriting
27th January 2017
Lancashire Holdings, the Bermuda and London specialty insurance and reinsurance company has, announced the appointment of Andrew McKee (previously CEO of MS Amlin at Lloyd's) as the new CEO of its Cathedral Underwriting business at Lloyd's of London. With effect from 26th June 2017, and subject to regulatory approvals and Lloyd's ... Read the full article
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