LONDON (dpa-AFX) - Insurance company Lancashire Holdings Ltd. (LRE.L, LCSHF.PK) reported Thursday that its second-quarter pre-tax profit declined to $41.5 million from last year's $58.3 million.
Profit after tax attributable to Lancashire was $44.8 million or $0.23 per share, down from $56.2 million or $0.30 per share a year ago.
Net operating profit attributable to the company declined to $43.4 million from $54.2 million last year. Operating earnings per share was $0.22, lower than $0.29 a year ago.
The company's total net revenue in the quarter grew to $195.8 million from prior year's $145.3 million.
Gross premiums written was $318.4 million, compared to $209.0 million last year. Net premiums written improved to $290.5 million from $189.1 million a year ago.
Further, Lancashire announced that its Board has declared an interim dividend for 2014 of $0.05 per common share, which will result in an aggregate payment of approximately $9.5 million.
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