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Daily Insurance Industry News
Sunday 26th of May 2019
October 30, 2007

Lancashire Holdings Profits Up On Year

by Stewart Douglas

Story link: Lancashire Holdings Profits Up On Year

Insurer Lancashire Holdings has today unveiled strong profitability for the third quarter ended September, as a result of its continued growth through exsting markets and growing leverage in expanding sectors.

Additionally the firm reported strong performance over the nine months to September as compared to previous three quarterly and year end figures, as well as announcing the launch of a widespread repurchase programme to buy back company securities from investors.

In the third quarter report announced today, Lanacashire reported a growth over the last year of almost 30% when measured in terms of profitability per share, reflecting its ongoing drive to improving commercial affairs.

At the same time it reported an increase in gross premiums written, i.e. revenues, were up over 40% over the course of the nine months to September on the year previous to a fraction under $600 million, improving the net written ration to 48.4%.

The period also saw a managed loss ratio of 26.8%, reflecting an improved efficiency in claims management over the period, with the year end share price growth up by around 22% highlighting overall expansion in the company.

Meanwhile flagship net income increased 100% on the quarter last year, up twice that on the nine months to September on the year as a measure of the rapid rate of expansion and growing success of the company over the period.

Speaking today on the results, CEO of the Lancashire Holdings Group said that they were delighted with the level of performance over the last quarter and indeed over the nine months of the year so far. Additionally he urged shareholders to be mindful of the ongoing drive for further growth and leverage to heighten profitability

 

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