Lancashire Holdings Limited · LSE:LRE
Lancashire — Q1 2024 Earnings Presentation
8 slides from Lancashire's earnings presentation, 2024
Slide 1: Investor Presentation: Q1 2024 Trading Statement
Investor Presentation: Q1 2024 Trading Statement I lancashiregroup.com
Slide 2: Safe harbour statements
Safe harbour statements NOTE REGARDING FORWARD-LOOKING STATEMENTS CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELLED LOSS SCENARIOS) MADE IN THIS RELEASE OR OTHERWISE THAT ARE NOT BASED ON CURRENT OR HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
Slide 3: Q1 2024 summary
Q1 2024 summary Very strong start in Q1 – guidance affirmed for 2024 • Gross premiums written increased 7.8% to $631.7 million. • Insurance revenue increased 24.6% to $422.0 million. • Group Renewal Price Index (RPI) of 104%. • Investment portfolio return of 0.9%. • Strong balance sheet and robust c
Slide 4: Continued focus on writing profitable business
Continued focus on writing profitable business Gross premiums written ($m) and cumulative RPI (%) for the first quarter 2020 to 2024 160% 600.0 150% 500.0 • Reinsurance: Property was the most significant contributor to growth with 140% strong new business and RPIs. Exposure 400.0 increases on renewa
Slide 5: Investments: conservative portfolio structure – quality focus
Investments: conservative portfolio structure – quality focus Asset Allocation Credit Quality total investment portfolio and managed cash fixed maturities and managed cash Other government Private investment funds bonds and debt AA, 38% 3% 6% A, 23% US government bonds and agency debt 24% Duration A
Slide 6: Remaining strongly capitalised
Remaining strongly capitalised Decrease Increase Note: Applying a stress scenario which incorporates a net loss catastrophe event (representative of our 1 in 100 Gulf of Mexico wind PML at $300.5 million) at 31 December 2023 our ECR ratio would be approximately 283%. Incorporating the Group’s capita
Slide 7: Outlook
Outlook • There is no change to our long-term strategy. No change to 2024 guidance Disciplined growth is important to balance returns over the longer term. This approach to growth will allow Lancashire to mitigate the weaker years through portfolio optimisation and we expect this to enhance returns
Slide 8: Contacts
Contacts Investor Relations Media Jelena Bjelanovic Peter Krinks FTI Consulting Lancashire Holdings Limited Lancashire Holdings Limited 200 Aldersgate, 20 Fenchurch Street, 20 Fenchurch Street, Aldersgate Street, London, EC3M 3BY London, EC3M 3BY London, EC1A 4HD E Tom.Blackwell T +44 (0) 20 7264 40