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Daily Insurance Industry News
Monday 15th of October 2018
November 4, 2011

Lancashire reports Q3 results

by Richard Kilner

Story link: Lancashire reports Q3 results

Lancashire Holdings Limited has reported its financial results for the third quarter and first nine months of 2011.

Net profits in the third quarter declined from $106m to $75.7m, year-on-year, and was also down from the $88.9m made in Q2 2011.

Quarterly gross written premiums increased from $135m to $142.9m, with net premiums down, year-on-year, from $134m to $133.6m.

Net operating profits in Q3 were also down, from $97.4m in 2010 to $87.7m.

In the first nine months of the year net profits fell from $199m to $173.2m, with operating profits falling from $183.1m to $180.9m.

Gross written premiums in the first nine months dropped from $595.1m to $522.7m, and net premiums fell from $556.2m to $462.7m.

Group Chief Executive Officer Richard Brindle described the firm’s quarterly performance as solid and said that Lancashire remains well-equipped to cope with uncertain times.

 

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