London · Delayed Price · Currency is GBP · Price in GBX Lancashire Holdings Earnings Call Transcripts
Fiscal Year 2026
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Premiums and insurance revenue grew 2.1% year-over-year, with a benign loss environment and positive investment returns. High teens ROE guidance for 2026 is reaffirmed, supported by disciplined underwriting, stable top line, and strong capital management.
Fiscal Year 2025
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Resilient 2025 results featured a 93.1% combined ratio, 7% investment return, and nearly 21% ROE, despite major catastrophe losses. Capital strength enabled $296.5 million in shareholder returns, with high teens ROE expected for 2026 amid a more competitive market.
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Premiums and insurance revenue grew robustly year-on-year, supported by disciplined underwriting and a diversified portfolio. Capital strength enabled a special dividend and strategic buyout of Syndicate 2010, while outlook remains confident despite expected rate softening and rising competition.
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Record Q2 profitability and strong H1 results led to upgraded ROE guidance in the high teens for 2025, despite significant catastrophe losses. Capital position remains robust, with disciplined growth and selective expansion across segments, while market conditions stay favorable.
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Premium growth reached 7% in Q1 2025, with insurance revenue up 8.7% year-over-year and investment returns of 1.9%. Guidance for low single-digit premium growth and mid-teens ROE is maintained, with strong capital and risk management supporting continued expansion, especially in the U.S.
Fiscal Year 2024
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Delivered a 23.4% ROE in 2024 with 11.3% premium growth and strong underwriting despite high catastrophe losses. 2025 guidance targets mid-teens ROE, factoring in California wildfire losses, with low single-digit premium growth expected and robust capital strength maintained.
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Strong nine-month results with 16.8% revenue growth and a $0.75 special dividend, despite $110–$140 million in catastrophe losses. Combined ratio and ROE are expected at the top end of guidance, with robust capital supporting continued growth into 2025.
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Delivered record H1 results with 14% ROE and 26% profit growth, driven by strong underwriting and investments. Affirmed full-year guidance for a mid-80s combined ratio and 20% ROE, with continued growth in US E&S and specialty lines. Maintains robust capital and expects higher H2 catastrophe exposure.