Alex Maloney
Chief Executive Officer
Replay available
Lancashire Holdings Limited (LRE) Q2 2025 Earnings Call
Lancashire Holdings Limited (LSE: LRE) Q2 2025 earnings conference call, held 2025-08-06. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
Matthew Narbon
Deputy Chief Underwriting Officer
Natalie Kershaw
Chief Financial Officer
Vash Kozelia
Analyst, Goldman Sachs
Shanti Kang
Analyst, Bank of America Merrill Lynch
Joseph Lins
Analyst, Autonomous
Cameron Hassan
Analyst, J.P. Morgan
Ivan Bokhmert
Analyst, Barclays
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Lancashire Holdings Limited.
Replay transcript excerpt
WEBVTT 00:00:01.938 -- 00:00:05.003 Welcome to the Lancashire Q2 2025 00:00:05.003 -- 00:00:10.110 earnings conference call. The speakers today will be Alex Maloney, Natalie Kershaw, 00:00:10.110 -- 00:00:13.095 and Matthew Narbon. I'll now turn the call over to Alex. 00:00:13.095 -- 00:00:15.616 Please go ahead. 00:00:16.760 -- 00:00:20.185 Good afternoon, everyone. Thank you for joining our call today. 00:00:20.185 -- 00:00:24.051 You will notice in the operator's introduction that Matt is presenting the underwriting 00:00:24.051 -- 00:00:29.059 portion of our call today. This is because Paul is on sabbatical, which is one of 00:00:29.059 -- 00:00:31.570 the benefits of working in Lancashire. 00:00:31.570 -- 00:00:35.497 After 10 years of being with us, you can take a well-deserved short break, which is what 00:00:35.497 -- 00:00:37.480 Paul is doing. 00:00:37.480 -- 00:00:41.628 So today, I will give some highlights on the progress the business has made so far this 00:00:41.628 -- 00:00:46.717 year. Matt, our Deputy Chief Underwriting Officer, who some of you know, 00:00:46.717 -- 00:00:49.381 will then focus on the underwriting trends. 00:00:49.381 -- 00:00:54.206 Natalie will cover the financials, and then we then go to Q&A. 00:00:54.588 -- 00:00:59.836 I want to start by saying that the first half of 2025 was very much the demonstration 00:00:59.836 -- 00:01:02.941 of our strategy in action. 00:01:02.941 -- 00:01:08.008 Even with the sizeable industry loss of California wildfires in Q1, we end 00:01:08.008 -- 00:01:13.113 the first half with an annualised ROE of about 15%. 00:01:13.296 -- 00:01:19.907 In fact, Q2 was our most profitable second quarter ever in our history. 00:01:19.907 -- 00:01:23.765 You can see that the work we have been doing since 2018 00:01...