Continuing a trend from the previous six months, Lancashire Holdings has reported growth in gross premiums written and insurance revenue issued for the nine months ended September 30.
The group recorded gross premiums written of US$1.8 billion, a 7.4% increase year-on-year, while insurance revenue rose 7.8% to US$1.4 billion. The group renewal price index stood at 96% for the period.
Comparatively, for the first half, Lancashire reported gross premiums written of US$1,356.2 million, up 5.8% from the same period last year, and insurance revenue of US$930.1 million, an increase of 8.9%.
Total investment return for the year to date was 5.6%, including unrealised gains and losses. Lancashire also announced the completion of a minority buy-out of Syndicate 2010, following approval from Lloyd’s of London.
The board also approved a special dividend of US$0.75 per common share, amounting to an aggregate distribution of approximately US$182 million, reflecting the group’s capital position and operating performance.
Group chief executive officer Alex Maloney (pictured above) said, “Lancashire delivered a strong third quarter, continuing to grow in line with market opportunities while maintaining a disciplined and selective approach to underwriting.”
He noted that the group’s performance over the first nine months, including the impact of the California wildfires, “demonstrates the strength and resilience of our business model.” The company previously said the estimated range for California wildfire losses in 2025 remained unchanged at US$145 million to US$165 million, with the loss spread across multiple classes.
Maloney said the results highlight the value of Lancashire’s strategy and the benefits of a diversified portfolio across product lines and geographies. He observed that market dynamics remain robust, with some classes experiencing the beginning of softening from recent highs, but overall pricing remains healthy across most of the book. The group’s results were also supported by investment returns of 5.6% for the year to date.
Reflecting on the earnings, Maloney confirmed the special dividend and described the minority buy-out of Syndicate 2010 as a significant milestone, providing new opportunities and strategic flexibility for the business.
“Our capital position remains exceptionally strong. We are returning capital to shareholders, investing in our syndicate platform, and continuing to pursue attractive underwriting opportunities through the remainder of the year and beyond,” Maloney said.
