Lancashire Holdings announces special dividend of $0.75

Lancashire Holdings announced a special dividend of $0.75 per share for the nine-month period ending September 2026, matching last year’s distribution. The payment represents approximately an 8% yield.

The company reported flat written premiums for the nine-month period when excluding reinstatement premiums, with implied growth of 5% in the third quarter. Insurance revenue increased 1% over the nine months, with 2% growth implied in the third quarter.

Rate changes showed improvement to negative 7% for the nine-month period, compared to negative 8% at the half-year mark.

Lancashire experienced a relatively benign loss environment in the third quarter, with limited exposure to catastrophe events. The company’s exposure to the Middle East conflict remained within its risk appetite parameters.

Investment returns reached 0.6% for the nine-month period, down from 1.2% at the half-year point. The book yield stood at 4.6% while the reinvestment yield increased to 5.3% from 4.7% at the half-year. Asset duration remained unchanged at 2.2 years.

The company maintained its full-year return on equity guidance in the high-teens range. Market consensus estimates stand at approximately 19%.

Lancashire had previously guided for full-year premiums to remain broadly stable.