Lancashire announces that on 28 July 2020 its Board of Directors declared an interim dividend for 2020 of $0.05 (approximately £0.04) per common share, which will result in an aggregate payment of approximately $12.1 million. The dividend will be paid in Pound Sterling on 11 September 2020 (the “Dividend Payment Date”) to shareholders of record on 14 August 2020 (the “Record Date”) using the £ / $ spot market exchange rate at 12 noon London time on the Record Date.
Other financial highlights:
- Resilient business model and operational capabilities despite COVID-19 global disruption; high productivity maintained.
- Gross premiums written increased by 15.3% year on year to $495.5 million, ahead of rate, with the Group Renewal Price Index of 111%.
- Strong underlying underwriting performance, with a combined ratio of 88.9% absent the COVID-19 loss estimate (106.9% including COVID-19).
- Investments rebounded in Q2, resulting in total net investment return of 1.3% for the six months ended 30 June 2020.