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Insurer Lancashire premiums grow in Q1; flags $35m of coronavirus-related claims

By BFN News | 08:56 AM | Thursday 30 April, 2020


Insurer Lancashire holdings reported a rise in gross premiums in the first quarter and estimated about $35m of Covid-19 claims for the quarter. For the three months ended 31 March 2020, gross premiums written increased by 11.8% year on year to $242.8m and net investment return fell 1.9% in the quarter, 'The January 2020 renewal season saw an increase in our year on year premium income of about 12% and an RPI of 108%. This is evidence of improved market discipline and, with the recent stress to many insurance industry balance sheets, we consider that the need for improved risk pricing will continue during 2020,' the company said. On 29 April, shareholders approved the final dividend for the year 2019 of $0.10 per share. At 8:56am: (LON:LRE) Lancashire Holdings Limited share price was +13p at 609p Story provided by StockMarketWire.com

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