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Interim Results

Lancashire pre-tax profits rise

03 November 2016 09:07

Lancashire Holdings reports a return on equity of 3.1% in the third quarter - compared with 2.6% a year ago.

Return on equity for the nine months was 10.5% against 9.3% last time.

Gross premiums written totalled $108.2m in the third quarter compared with $120.4m a year ago while pre-tax profits rose to $42.9m from $32.9m a year ago.

Group chief executive Alex Maloney said: "The group's results for the third quarter have once again been strong. Our RoE of 3.1% for the quarter and 10.5% for the year to date demonstrate our ability to deliver excellent results through the insurance cycle and during challenging market conditions. These results are a tribute to the quality of our people throughout the Group and an illustration of the fruits of disciplined underwriting and prudent risk selection."

At 9:07am: (LON:LRE) Lancashire Holdings Ltd share price was +52p at 761p

Story provided by StockMarketWire.com

Related Company: LRE

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