Lancashire Q3 and 9M profits on the rise

Lancashire Holdings Limited has reported its financial results for the third quarter and first nine months of 2012.

Quarterly return on equity rose from 3.6% to 5.7%, with 9M return on equity up from 10.4% in the corresponding period last year to 13.2%.

In Q3 gross written premiums fell from $142.9m to $113.5m, and net written premiums fell from $133.6m to $109.8m.

Quarterly pre-tax profits dropped marginally from $79m to $78m, but profits after tax rose from $75.7m to $78.8m.

In the first nine months of 2012 gross written premiums rose from $522.7m to $628.3m, and net written premiums increased slightly from $462.7m to $475.4m.

Pre-tax profits for the year-to-date improved from $178.4m to $185.1m, and profits after tax increased from $173.2m to $182.5m.

Group Chief Executive Officer Richard Brindle began his response to the firm’s latest results by sending his thoughts and those of others at the firm to the people in the Caribbean and North America affected by Sandy.

Brindle went on to say that the third quarter had been relatively quiet regarding natural catastrophes and described Lancashire’s latest results as strong.

Tags: , ,

Category: Financials, Insurance News