Lancashire

Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.

Reforms to the UK listing regime may enhance prospects of an insurance firm opting to IPO in London in future, but several broader problems, including liquidity issues, will also affect such a decision, according to industry sources.

Montgomery Aviation and Rise Aviation Limited, along with EOS Aviation, have launched fresh legal battles against Convex and Lancashire.

Lancashire said positive rate momentum in the market was benefitting nearly all of its business lines, including its reinsurance portfolio.

Simon Fraser stepped down from Lancashire’s board after nine years of service.

The carrier recorded an unrealised investment gain of 1.5% compared with a loss of 2.3% in the same quarter last year.

Alison Gaudette will report to group chief risk officer Louise Wells.

The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector. 

CEO Alex Maloney is predicting more growth for Lancashire in 2023 considering the strong cat market and improving rate conditions across the carrier’s book.

The carrier increased its Ukraine reserves to $65.8mn while reporting a combined ratio of 97.7%.

Moves to push down London broker commissions highlights the options open to write reinsurance platforms in other markets.

Considering Hurricane Ian's impact, rate hardening will only accelerate, CEO Alex Maloney said.