Lancashire Holdings Ltd

Lancashire Holdings reported a 30% year-over-year increase in profit after tax to $142 million for the first half of 2026, with an annualized return on equity of 19.6% and an undiscounted combined ratio of 91%. Insurance revenue was flat compared to the first half of 2025, while the operating expense ratio edged up to 9.2% from 8.8%. Investment income held steady at $78 million, and prior year reserve releases totaled $22 million, though this was partly offset by deterioration on the Baltimore Bridge claim. Large and catastrophe risk losses amounted to $60 million, including impacts from the Middle East conflict. The company declared an interim dividend of $0.075 per share, representing an aggregate payment of approximately $18 million.