Reinsurance News
Lancashire Holdings
S&P cites strengthened competitive position as Lancashire ratings upgraded to ‘A’
19th December 2025
Bermuda-based global insurer and reinsurer, Lancashire Holdings Limited, has reported that rating agency S&P Global Ratings has lifted its long-term issuer credit and financial strength ratings on the firm's core re/insurance operating subsidiaries to 'A' from 'A-'. At the same time, S&P Global Ratings has raised its long-term issuer credit rating ... Read the full article
Lancashire’s GPW up 12.7% in Q1’25
1st May 2025
Bermuda-based insurer and reinsurer Lancashire Holdings Limited reported a 12.7% year-on-year increase in gross premiums written (GPW) to $712.1 million for the three months ended 31 March 2025, up from $631.7 million in the same period last year. The reinsurance segment contributed $482.3 million to the Q1 total, up from $399.7 ... Read the full article
Lancashire expects less property cat reinsurance rate softening after LA wildfires: CUO Gregory
6th March 2025
Paul Gregory, Chief Underwriting Officer (CUO) of re/insurance company Lancashire Holdings Limited, expects there to be less property catastrophe reinsurance rate softening than initially anticipated for the remainder of 2025, following the impacts of the costly January wildfires in Southern California. Industry losses for the January 2025 Los Angeles wildfires are ... Read the full article
LA wildfires erode ‘a good portion’ of Lancashire’s annual aggregate reinsurance deductible
6th March 2025
Losses from the extremely damaging and costly Los Angeles, California wildfires have eroded "a good portion" of the annual deductible of Bermuda-based Lancashire's aggregate reinsurance cover, the company has revealed. Last month, Lancashire announced estimated, aggregate net ultimate losses from the January 2025 wildfires in California of between $145 million ... Read the full article
Lancashire’s GPW up 11% in 2024 with growth in property and specialty reinsurance
6th March 2025
Bermuda-based Lancashire Holdings Limited recorded profit after tax of $321.3 million in 2024, which is in line with the prior year, with a solid 80% combined ratio for the year as the firm's insurance and reinsurance businesses performed well. Across the Group, Lancashire gross premiums written (GPW) increased by 11% year ... Read the full article
Lancashire anticipates up to $165m in losses from California wildfires
13th February 2025
Lancashire Holdings has estimated its aggregate net ultimate losses from the recent wildfires in California at $145 million to $165 million. According to the firm, this preliminary estimate has been derived from a combination of market data and assumptions, a limited number of provisional loss advice, limited client loss data and ... Read the full article
AM Best affirms Lancashire’s credit ratings
9th December 2024
AM Best has affirmed the credit ratings for Bermuda-based Lancashire Holdings Limited and its subsidiaries, assigning a stable outlook. The agency affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) ... Read the full article
Lancashire Insurance U.S. appoints Flude as CEO, Jones to become CUO
4th December 2024
Bermuda-based Lancashire Holdings Limited has appointed James Flude as Chief Executive Officer (CEO) of Lancashire Insurance U.S., succeeding Huw Jones, who has been appointed to the new role of Chief Underwriting Officer (CUO) for Lancashire U.S. Flude, who will relocate to the U.S., currently serves as Group CUO: Insurance. He joined ... Read the full article
Market conditions continue to have solid rating fundamentals going into 2025, Lancashire CUO
6th November 2024
According to Lancashire Holdings' Chief Underwriting Officer (CUO), Paul Gregory, market conditions in almost all lines of business continues to have "very solid rating fundamentals going into 2025." "Our expectation is that the recent loss activity both highlights the value of the products that we sell, which will always help demand, ... Read the full article
Lancashire Holdings appoints Linda Ventresca as Non-Exec Director
8th August 2024
Bermuda-based Lancashire Holdings Limited has announced the appointment of Linda Ventresca, former Head of Digital at AXIS Capital, as a Non-Executive Director. An experienced senior leader in the insurance industry, Ventresca brings first-hand knowledge of the US and international insurance and reinsurance markets to her new position with Lancashire. She worked at ... Read the full article
Lancashire gets positive outlook, ratings affirmed by S&P
28th June 2024
S&P Global Ratings has revised its outlook to positive from stable for Lancashire Holdings Ltd. and its operating subsidiaries (LRE), as the firm has strengthened its competitive position over the past few years through a diversification strategy. LRE produced strong underwriting profitability in 2023, expected to continue through 2026, barring any ... Read the full article
Lancashire announces two senior appointments to its Board
3rd May 2024
Bermuda-based re/insurer Lancashire Holdings Limited has announced two senior appointments: Paul Gregory as an Executive Director on its Board and Philip Broadley as the Chair of the Board of Directors. Gregory previously held the position of Chief Underwriting Officer at Lancashire Insurance Company. With a tenure spanning 17 years at Lancashire, ... Read the full article
Lancashire’s GPW hit $631.7m in Q1, insurance revenue climbs 24.6%
2nd May 2024
Lancashire Holdings has announced that gross premiums written in Q1 of 2024 increased by 7.8% year-on-year to $631.7 million, while its insurance revenue increased by a huge 24.6% year-on-year to $422 million. As per Lancashire, the reinsurance segment contributed $399.7 million to the Q1 total gross premiums written figure, with the ... Read the full article
Lancashire’s 2023 profit soars to $321.5m as GPW hit $1.9bn
6th March 2024
Lancashire Holdings has revealed its overall profit after tax for 2023 was $321.5 million, resulting in a change in diluted book value per share of 24.7% and marking a massive improvement compared to 2022's loss of $15.5 million. The firm's 2023 gross premiums written (GPW) also increased 16.9% year-on-year to $1.9 ... Read the full article
AM Best revises Lancashire’s Long-Term ICR to stable
14th December 2023
Global credit ratings agency AM Best has confirmed that it has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR), and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Lancashire Insurance Company Limited (Hamilton, Bermuda) ... Read the full article
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