Lancashire Holdings Ltd reported a solid third quarter with continued growth and disciplined underwriting, posting a 7.4 per cent year-on-year increase in gross premiums written to $1.8 billion and a 7.8 per cent rise in insurance revenue to $1.4 billion. The Bermudian-headquartered company also announced a special dividend of 75 cents per share, amounting to $182 million, reflecting what it described as a robust capital position and positive operating performance.

Alex Maloney, group chief executive, said the results demonstrate “the strength and resilience of our business model,” noting that Lancashire grew in line with market opportunities while maintaining discipline, even after challenges such as the California wildfires earlier in the year.

The group’s total investment return reached 5.6 per cent year-to-date, supported by falling yields, tightening credit spreads and gains from private investment funds.

Lancashire also confirmed the minority buy-out of Syndicate 2010, giving the company full control of the syndicate for the 2026 underwriting year. Mr Maloney said the transaction was “a significant milestone for the business, offering new opportunities and strategic flexibility”.

The reinsurance segment grew 9.6 per cent to $1.03 billion, with strong performance in aviation, marine and energy treaty lines, while the insurance segment rose 4.7 per cent to $794 million, led by its American franchise and growth in energy liability and property insurance. The group’s Renewal Price Index averaged 96 per cent, suggesting mild market softening but overall healthy pricing.

Mr Maloney added that Lancashire’s “exceptionally strong” capital base allows it to both reward shareholders and invest in future underwriting opportunities. He credited the company’s workforce for its performance, saying employee engagement survey results showed the group’s culture “continues to be valued by our colleagues”.