Reinsurance News
Lancashire Holdings
Lancashire to appoint Philip Broadley as Chair and Non-Exec Director
9th November 2023
Bermuda-based re/insurer Lancashire Holdings Limited (LHL), has announced the appointment of Philip Broadley as a Non-Executive Director of LHL, effective November 8, 2023. Broadley has also been appointed as the LHL Chair designate, a position Lancashire expects to take effect immediately following the company’s 2024 AGM - to be held on ... Read the full article
Lancashire expects positive rate environment to persist as H1 2023 GPW rises 26%
10th August 2023
Bermuda-based Lancashire Holdings Limited has reported a 26.2% rise in gross premiums written (GPW) for the first half of 2023 driven by growth in both its reinsurance and insurance segments, as the firm highlights a positive rate environment which it expects to persist through the remainder of the year. Across its ... Read the full article
Lancashire Holdings CEO expects aviation portfolio growth by year end
4th May 2023
Alex Maloney, the Chief Executive Officer (CEO) of Lancashire Holdings Limited, expects the re/insurer's aviation portfolio to grow by the year end. “We're overall pretty confident that we'll be able to grow our aviation portfolio at the end of the year,” Maloney said in Lancashire's recent first-quarter earnings call. He explained that ... Read the full article
Bryan Joseph joins Lancashire Holdings as Non Exec Director
28th April 2023
Bermuda-based re/insurer Lancashire Holdings Limited has appointed Bryan Joseph as a Non-Executive Director and a member of both the Audit and Underwriting and Underwriting Risk Committees. Overall, Joseph brings more than four decades of industry experience towards his new role. He began his career working at Legal & General. Throughout his extensive career ... Read the full article
Lancashire reports highest Q1 gross written premiums
27th April 2023
Bermuda-based re/insurer Lancashire Holdings Limited has announced a 22.7% rise in gross premiums written (GPW) for the first quarter of 2023 to $586.2 million from $477.9 million, the highest the group has delivered in a first quarter. The GPW in the insurance segment grew 29.4% to $216.9 million in Q1, driven ... Read the full article
Lancashire appoints Argo’s Alison Gaudette as Group Sustainability Manager
4th April 2023
Lancashire Insurance Group has appointed Alison Gaudette as its first Group Sustainability Manager. Within her new role, Gaudette will report to Lancashire’s Group Chief Risk Officer, Louise Wells. Gaudette joins the firm from Argo Group, where she most recently held the role of Sustainability Manager. Before she held that role, she served ... Read the full article
Lancashire grows reinsurance premiums by 50%, improves underwriting
10th February 2023
Bermuda-based re/insurer Lancashire Holdings has reported that its gross written premiums increased by 34.9% to $1,652 million over 2022, including premium growth of 50% for its reinsurance business. The company also recorded underwriting profit of $150.8 million for the year, compared with $96.0 million in 2021, on a combined ratio of ... Read the full article
AM Best revises Lancashire’s outlook to negative and affirms credit ratings
2nd December 2022
Global credit rating agency AM Best has revised the outlook to negative from stable 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 Holdings Limited and subsidiaries. According to the announcement, these ratings ... Read the full article
Lancashire may reduce cat exposure if retro pricing proves high: analysts
2nd December 2022
Analysts at Jefferies have suggested that Bermuda-based re/insurer Lancashire Holdings could look to reduce its gross catastrophe exposure next year, if the company is unable to purchase retrocession cover at a good price. Jefferies expects Lancashire's net catastrophe exposure to remain broadly flat in 2023, albeit with net premiums still growing ... Read the full article
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 Holdings sees gross written premiums up by 34.3%
3rd November 2022
Lancashire Holdings has released its result for the first nine months of this year, saying that gross written premiums grew by over a third in this time to reach $1.3bn. A statement from the firm also said that it expected to see net losses from Hurricane Ian in the region of ... 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
Illogical to decline potential cat opportunity: Lancashire CEO Maloney
5th November 2021
Alex Maloney, Chief Executive Officer (CEO) of Lancashire Holdings, confirmed yesterday that the specialty re/insurer intends to maintain its catastrophe footprint for 2022, stating that it would be "counter to our DNA" to retreat from an improved underwriting opportunity. In announcing its results for the first nine months of the ... Read the full article
Lancashire P&C reinsurance premiums up 85%
4th November 2021
Lancashire Holdings Limited has reported gross written premiums (GWP) of $503.4 million within its property and casualty (P&C) reinsurance segment for the first nine months of 2021. This is $231.7 million, or 85.3%, higher than the $271.7 million that the segment recorded for the 9M period last year. This huge level of ... Read the full article
Lancashire sees nat cat losses of up to $185m, political violence losses of $40m
21st October 2021
Lancashire Holdings Limited has announced estimated net losses from natural catastrophe events of between $165 million and $185 million for the third quarter of 2021, as well as losses of $40 million from its exposure to large loss events in its political violence portfolio related to the unrest in South ... Read the full article
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