by Kyle Morris
Lancashire Holdings Ltd said on Thursday that written gross premiums increased significantly in the first nine months of 2022 and it has a strong balance sheet and a strong capital position.
The Bermuda-based, UK-listed insurance company said written gross premiums rose 34.3% annually to $1.3 billion.
Broad positive conditions are set to continue into 2023, it said. It added that a significant increase in rates and improvement in terms and conditions can be seen further due to recent events.
“We believe that we are well prepared to manage inflationary pressures and able to deal with past inflationary and deflationary changes within many of our product lines. Inflation will also present further opportunities for us as customers provide additional cover. Want to buy,” said chief executive Alex Maloney.
Shares of the company were down 10.50 pence, or 2.0%, at 516.50 pence at 0804 GMT.
Write to Kyle Morris at [email protected]
Credit: www.marketwatch.com /