Lancashire Insurance
Lancashire produces stable profit despite $44m Sandy loss
Lancashire Holdings saw an increase in gross written premium in 2012 to $724.3m (£475.8m) compared to $632.3m the year before. Its net operating profit slightly increased to $220.3m (2011: $219m) over 2012, and its combined operating ratio was reasonably…
Lancashire Holdings unveils capital management division
Lancashire Holdings has created a capital management division, which will be led by Simon Fascione.
Some European insurers still value for money, says Westhouse
Despite the broader pan-European insurance sector delivering among the worst total returns over the past decade, some management teams are still adding value, Westhouse said in a note today.
Market moves: Chartis and Antares dominate recruitment space
The recruitment space was dominated by Chartis and Lloyd’s insurer Antares this week. Chartis welcomed four new staff to its team, while Antares recruited an energy underwriter and two aviation specialists.
Lancashire records 48.9% Q3 combined ratio
Lancashire has reported a marginal increase in the combined ratio and a fall in net operating profits in its Q3 results.
'Crippled infrastructure' hampers Sandy recovery
Assessing the scale of devastation wrought by Superstorm Sandy has been hampered by disruptions in fuel supply, communications and power, according to insurance firms on the ground.
Lancashire launches Saltire sidecar
Bermudian insurer and reinsurer Lancashire Holdings is to create a new sidecar, Saltire Re I.
Analysts predict 'superstorm' Sandy will strike primary insurers hardest
Lloyd's will avoid major losses relating to 'superstorm' Sandy, if early estimates that the primary insurers will absorb the bulk of the losses are correct.
Lancashire's head of marine goes to Argenta
Argenta Holdings subsidiary Argenta Syndicate Management has appointed Vincent Leonardi as marine underwriter at Argenta Syndicate 2121.
Argenta recruits marine underwriter for Syndicate 2121
Argenta Syndicate, a subsidiary of Argenta Holdings, has appointed Vincent Leonardi to marine underwriter at Argenta Syndicate 2121.
Lancashire reports hike in profit to $102.6m
Lancashire has reported a 35.5% increase in gross written premium to $514.8m in the first half of the year, compared with $379.8m in the same period in 2011, reporting growth across three of its four main classes of business.
Benign weather and rate rises result in record reported profits for insurers
Insurers have reaped the rewards of benign weather and rate rises in catastrophe hit regions, but analysts warn the worst could be yet to come.
Lancashire profits soar despite $34m Costa Concordia claims costs
Lancashire Holdings has reported Q1 gross written premiums up 36% to $234m (2011: $172m), and said that pre-tax profit was up more than fivefold to $46.5m (2011: $8.4m), despite Costa Concordia claims totalling $34.1m.
Lancashire renews $350m of finance
Lancashire Holdings has arranged a $350m five-year letter of credit and revolving facility with Lloyds TSB for Lancashire Insurance Company.
Lancashire secures $75m additional capital for Japan renewals
Lancashire Holdings has said it will be able to deploy $75m additional capital for the 1 April Japanese market renewals after securing the extra capital from its Accordian sidecar investors.
Lancashire reveals $35m exposure to Costa Concordia
Lancashire Holdings has revealed, based on an industry loss of $850m, its exposure to the January Costa Concordia cruise ship loss is estimated to be approximately $35m net of reinsurance and reinstatement premiums.
Accordian Re gains new capacity for Japanese market
Lancashire Holdings has secured additional capital of $75m (£48m) for Accordian Re to focus on the 1 April Japanese market renewals.
Lancashire CEO Brindle "cautiously optimistic" for 2012 after $219m year end profit
Lancashire has reported an 8.2%, or $56.8m, drop in gross written premium to $632.3m in 2011.
Lancashire "best placed" for price rises
Lancashire Holding’s decision to increase its reserves for the Japan earthquake and Thai floods removes uncertainty that exists with other firms and makes it a good buy, according to analysts at Jeffries.
Lancashire increases Japan quake loss estimate by 56%
Lancashire Holdings has increased its estimated exposure to the Tohoku earthquake by $42.2m, or 56%, to a net loss estimate of $117.3m (£74.8m).
Marine hull insurers await rating impact in wake of cruise ship sinking
The Costa Concordia cruise ship disaster has been called the largest insurance loss in maritime history with some suggesting it could be “bigger than the Titanic”.
Market moves: All change at Mondial and Marsh
This week insurers were, once again, the main recruiters with the majority of high profile appointments.
Lancashire raises Fascione in Bermuda
Lancashire Holdings has promoted Simon Fascione to chief underwriting officer of the company's Bermuda operation, Lancashire Insurance Company.
Garratts promotes Claire Porter
Commercial broking specialist Claire Porter has been promoted to associate director at Lancashire-based insurance brokers and risk advisors Garratts.