LONDON (dpa-AFX) - Lancashire Holdings Limited (LRE.L) reported pre-tax profit of $33.6 million for the full year ended 31 December 2018, compared to loss of $72.9 million in the prior year. Earnings per share were $0.19, compared to loss of $0.36 per share last year.
Net operating profit for the year was $39.8 million, compared to net operating loss of $86.0 million in the prior year. Operating earnings per share was $0.20, compared to operating loss per share of $0.43 last year.
Net premiums written for the year increased to $417.7 million from $398.0 million in the prior year. However, total net revenue declined to $442.6 million from $478.8 million a year ago.
Alex Maloney, Group CEO, said, 'Whilst the trading environment remains challenging, there are now some signs of an improved rating environment in many of our specialty lines, which account for over half our business. Encouragingly, the pricing trends remain positive across most of our business lines.'
Lancashire said its Board has declared a final dividend for 2018 of $0.10 per common share per common share. The dividend will be paid in Pounds Sterling on 27 March 2019 to shareholders of record on 22 February 2019.
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