Insights
Lancashire 3Q25 trading statement
Posted 06/11/2025 – Insights
Lancashire plc has released its trading statement for 3Q25 ending 30th September 2025.
Main highlights
- Gross premiums written increased by 7.4% to $1,825m (Q3 2024: $1,700m)
- Insurance revenue increased by 7.8% to $1,400m (Q3 2024: $1,298m)
- Total investment return of 5.6% year to date (Q3 2024: 5.0%)
- Special dividend of $0.75 per common share announced amounting to approximately $182m
- Minority buyout of syndicate 2010 achieved
- Group Renewal Price Index (RPI) of 96% (Q3 2025: 102%)
Alex Maloney, Group Chief Executive Officer, commented:
“Lancashire delivered a strong third quarter, continuing to grow in line with market opportunities while maintaining a disciplined and selective approach to underwriting. Our performance over the first nine months of the year – particularly in light of the California wildfires early on – demonstrates the strength and resilience of our business model.”
The group’s divisional figures and rate change for 3Q25 are as follows:
Reinsurance division
- Gross premiums written increased by 9.6% to $1,031m (3Q 2025: $941m)
- RPI of 97% (Q3 2024: 101%)
Insurance division
- Gross premiums written increased by 4.7% to $794m (3Q 2024: $759m)
- RPI of 96% (Q3 2024: 102%)
Alpha comment
This is a positive set of results from Lancashire and a good special dividend announcement for shareholders. Lancashire appears to believe there is still a good potential margin within the business, given the growth achieved from both the insurance and reinsurance divisions despite some rate decreases. As a reminder, Lloyd’s members provided support to Lancashire syndicate 2010, on which Lancashire has completed a minority buyout. There will, therefore, be no private capital supporting the syndicate for 2026.
