Lancashire Holdings News

European Insurers Enjoy Big Profits After Premium Hikes

Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …

Lloyd’s Insurers Don’t Expect Large Claims From Baltimore Bridge Collapse

Lloyd’s of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore’s Francis Scott Key Bridge in March that caused widespread disruption, they said on Thursday. Some estimates for the total insured losses from …

Lancashire Launches US Excess & Surplus Lines Carrier

Lancashire Insurance, a subsidiary of Lancashire Group, has been launched as an excess and surplus insurer in the US, expanding the company’s international footprint. Lancashire Group, the Bermuda-based Lloyd’s insurer, explained that Lancashire Insurance US (LUS) operates under a delegated …

Airlines Face Doubling in War Insurance Premiums After Sudan Losses: Sources

Airlines could end up paying twice as much for insurance they need to protect themselves against losses triggered by war after a bruising year wiped out aviation war insurers’ revenue for 2023, industry sources say. Aircraft were destroyed at Khartoum …

Lloyd’s Insurer Lancashire Sees Manageable Russia-Ukraine Losses

Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk tolerance levels. Lancashire was continuing …

Lloyd’s Insurer Lancashire Holdings Raises US$352M to Target Hard Market Opportunities

Lancashire Holdings Ltd. has completed an equity capital raise of approximately £277 million (US$352 million) through the placement of new common shares. The Lloyd’s insurer said it intends to use the proceeds of the placing to fund organic growth and …

Insurer Lancashire to Use Lloyd’s EU Hub in Brussels After Brexit

Property and casualty insurer Lancashire Holdings Ltd will use insurance market Lloyd’s of London’s European Union hub in Brussels after Britain leaves the European Union, its top boss told Reuters. “We have negotiated with Lloyd’s and we will write businesses …

Lancashire Reports Q3 Loss of $136.4M on High Natural Catastrophe Claims

Lancashire Holdings Ltd reported a third-quarter pretax loss after what looks set to be the costliest quarter ever for insurers and reinsurers due to natural catastrophes, but said it was seeing some evidence of an increase in pricing. The property …

Lloyd’s Insurers’ Stocks Fall on Possible Claims from Hurricane Harvey

Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry. The storm, which which made landfall as a category 4 hurricane and then drifted …

Waiting List for Insurers to Get Seats on Lloyd’s Underwriting Floor Hits Record

The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for about 160 so-called …