Lancashire

The CEO said the carrier’s hurricane exposure has remained static in the last few years.

CEO Alex Maloney hailed the results as the “best ever half-year performance” for the carrier.

The CEO said the carrier had identified several areas in its portfolio as having room to grow.

The carrier also named Philip Broadley as chair of the board.

The carrier said it remains on track to hit a mid-80s combined ratio at the end of FY 2024.

The short-term disruption of relisting may be justified by the long-term benefits.

The unit has hired Everest’s Chris Curtin and Axa XL’s Brian Quinn.

Hiscox, Beazley and Lancashire all delivered one-off capital returns while swerving casualty issues.

In August 2023, Lancashire announced it was planning to launch in the US.

The carrier reported an undiscounted combined ratio of 82.6% in 2023.

Operating entity Lancashire Insurance Company Limited, based in Bermuda and the US, has a long-term ICR of a+ while parent company Lancashire Holdings Limited has a long-term ICR of bbb+.

Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.