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Lancashire Holdings reports year-on-year increase in gross premiums written

Lancashire Holdings reports year-on-year increase in gross premiums written | Insurance Business UK

Lancashire Holdings reports year-on-year increase in gross premiums written

Lancashire Holdings has announced that its total number of gross premiums written increased by 13.8% year-on-year to US$578.0 million for the first nine months of the year.

The results were achieved despite net loss estimates of US$33.2 million from Hurricane Dorian and Typhoon Faxai. However, the group said that its exposures to recent catastrophe loss events have been comfortably within its expectations.

Read more: Lancashire posts lower profit in the first half

“Once again the Atlantic and Pacific wind seasons have produced loss events which have disrupted lives and livelihoods, with tragic consequences,” said Alex Maloney, group chief executive officer of Lancashire Holdings. “Lancashire’s products help our clients and ultimate insureds manage these volatile risks and to rebuild after such moments of disruption.”

Property gross premiums written increased by 19.0%, while energy gross premiums written decreased by 11.9%. Meanwhile, gross premiums for marine (30.8%) and aviation (59.6%) also increased. The Lloyd’s segment increased by 15%.

The group also reported strong investment performance, generating a total investment return of 4.1%