Lancashire announces that its Board of Directors has declared a final dividend of $0.10 (approximately £0.08) per common share, subject to a shareholder vote of approval at the AGM to be held on 26 April 2023, which will result in an aggregate payment of approximately $23.8 million. On the basis that the final dividend is approved by shareholders at the AGM, the dividend will be paid in Pounds Sterling on 2 June 2023 (the “Dividend Payment Date”) to shareholders of record on 5 May 2023 (the “Record Date”) using the £ / $ spot market exchange rate at 12 noon London time on the Record Date.
Other financial highlights include:
- Gross premiums written increased by 35% year-on-year to $1.7 billion; Group RPI of 108%.
- Combined ratio of 97.7%, demonstrating the benefit of growth and diversification.
- Total net investment return of negative 3.5%, primarily driven by unrealised losses
- Strong start to 2023 at 1 January renewals.
