Lancashire has expanded its United States speciality insurance platform into three new product lines, as the group continues its multiyear strategy of diversifying beyond its traditional property, energy and marine businesses.

Lancashire Insurance US has launched financial lines and inland marine and environmental liability offerings, doubling the operation's underwriting capabilities from three product areas to six.

The company has appointed three senior underwriters to lead the new divisions. Jason Rubman joins as senior vice-president, financial lines, from Axis Capital, while Lauren Berry has been named senior vice-president, inland marine, after previously leading inland marine and ocean marine programmes at Hudson Insurance. Janice Nunziata joins as senior vice-president, environmental liability, from Everest.

The expansion comes two years after Lancashire launched its US operation, which serves the commercial excess and surplus market through delegated authority arrangements with Lancashire's London-market insurance carrier and Lloyd's managing agent.

The move is part of the company’s wider diversification strategy in recent years as more speciality insurers look to balance thier catastrophe-exposed business with a broader mix of casualty and speciality lines.

In its most recent annual report, Lancashire said a diversification programme launched in 2018 had helped reduce earnings volatility and improve capital efficiency across the group.

Alex Maloney, group chief executive said the expansion showed the success of the US operation since its launch.

“This significant expansion of Lancashire Insurance US is testament to the strength of our franchise and the success of the US operation to date,” Mr Maloney said.

“These new product lines will add further strength to the group as we continue to invest in our business to maintain our underwriting momentum in line with the market opportunity.”

James Flude, CEO of Lancashire Insurance US, said the company had built strong market partnerships during its first two years and was positioned for further growth.