Business
Q2 2024 Earnings Release
Q2 2024 Earnings Release.
About this update from Lancashire Holdings Limited
[{"type":"text","content":"\n\n \n \n\n\n\n\nLANCASHIRE HOLDINGS LIMITED RECORD HALF-YEAR PERFORMANCE WITH EXCELLENT PROFIT GROWTH OF 26% TO $200 MILLION 8 August 2024Hamilton, Bermuda Lancashire Holdings Limited (“Lancashire” or “the Group”) today announces its results for the six months ended 30 June 2024. Highlights:• Profit after tax of $200.8 million resulting in a change in DBVS of 14.0%.• Gross premiums written increased 8.3% year-on-year to $1,282.2 million. Insurance revenue increased 18.5% year-on-year to $854.1 million.• Insurance service result of $222.8 million, discounted combined ratio of 73.0%, undiscounted combined ratio of 82.2%. • Total investment return of 2.3%, including unrealised gains and losses.• Interim dividend of 7.5 cents per common share. \t\t\t\t\t\t\t\t\tFor the six months ended\t\t\t\t\t\t\t\t\t30 June 2024\t\t\t\t\t\t\t\t\t30 June 2023\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t$m\t\t\t\t\t\t\t\t\t$m\t\t\t\t\t\t\t\t\t\t\t\t\tHighlights \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\tGross premiums written1\t\t\t\t\t\t\t\t\t1,282.2\t\t\t\t\t\t\t\t\t1,184.0\t\t\t\t\t\t\t\t\t\t\t\t\tInsurance revenue\t\t\t\t\t\t\t\t\t854.1\t\t\t\t\t\t\t\t\t720.9\t\t\t\t\t\t\t\t\t\t\t\t\tInsurance service result\t\t\t\t\t\t\t\t\t222.8\t\t\t\t\t\t\t\t\t188.8\t\t\t\t\t\t\t\t\t\t\t\t\tNet investment return\t\t\t\t\t\t\t\t\t75.2\t\t\t\t\t\t\t\t\t63.2\t\t\t\t\t\t\t\t\t\t\t\t\tProfit after tax\t\t\t\t\t\t\t\t\t200.8\t\t\t\t\t\t\t\t\t159.2\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\tFinancial ratios \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\tNet insurance ratio1\t\t\t\t\t\t\t\t\t 65.2%\t\t\t\t\t\t\t\t\t 62.8%\t\t\t\t\t\t\t\t\t\t\t\t\tCombined ratio (discounted)1\t\t\t\t\t\t\t\t\t 73.0%\t\t\t\t\t\t\t\t\t 71.4%\t\t\t\t\t\t\t\t\t\t\t\t\tCombined ratio (undiscounted)1\t\t\t\t\t\t\t\t\t 82.2%\t\t\t\t\t\t\t\t\t 79.2%\t\t\t\t\t\t\t\t\t\t\t\t\tTotal investment return1\t\t\t\t\t\t\t\t\t 2.3%\t\t\t\t\t\t\t\t\t 2.2%\t\t\t\t\t\t\t\t\t...