30th Apr 2026 11:37
(Alliance News) - Lancashire Holdings Ltd on Thursday said it is on track for annual results in line with guidance.
The Hamilton, Bermuda-based insurer said gross written premiums fell 6.1% in the first quarter to USD668.4 million from USD712.1 million a year prior.
"Excluding the impact of reinstatement premiums related to the California wildfires, the underlying reduction in gross premiums written was just 1.2%," Lancashire said.
Insurance revenue grew 2.1% to USD468.6 million from USD458.9 million.
Lancashire said it has only a "limited exposure" to the Middle East conflict.
Chief Executive Officer Alex Maloney said: "Clearly, the period has seen very significant geopolitical volatility leading to wider economic uncertainty. Lancashire’s exposure to the current events in the Middle East is limited and well within our risk appetite.
"Lancashire has had a positive start to 2026, holding fast to our core principle of active cycle management. With the strong first quarter, we are on track to deliver results in line with our guidance for the year."
Lancashire shares fell 0.6% to 569.50 pence each in London on Thursday morning.
By Eric Cunha, Alliance News news editor
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