(Alliance News) – Lancashire Holdings Ltd declared on Thursday to be on track to publish annual results in line with its forecasts.
The Bermuda-based insurer in Hamilton said its gross premiums written declined by 6.1% in the first quarter, amounting to USD 668.4 million compared to USD 712.1 million a year earlier.
Excluding the impact of reinsurance premiums related to wildfires in California, the underlying decrease in gross premiums written is only 1.2%, Lancashire said.
Insurance revenues increased by 2.1%, rising from USD 458.9 million to USD 468.6 million.
Lancashire stated that it only has ‘limited exposure’ to the conflict in the Middle East.
Chief Executive Alex Maloney stated: ‘Clearly, the period has been marked by very high geopolitical volatility, resulting in increased economic uncertainty. Lancashire’s exposure to current events in the Middle East is limited and fits perfectly with our risk appetite.’
‘Lancashire had a positive start to 2026, remaining true to our fundamental principle of active cycle management. Thanks to this strong first quarter, we are able to deliver results in line with our annual targets.’
Lancashire’s shares rose 0.6% to 569.50 pence each in London on Thursday morning.
By Eric Cunha, Chief Editor of Alliance News
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