LONDON (dpa-AFX) - Lancashire Holdings Limited (LRE.L), a provider of insurance and reinsurance products, Thursday reported 11.8 percent year-over-year growth in its gross premiums written for the first quarter.
The Group's gross written premiums for the quarter totaled $242.8 million, up 11.8 percent from last year's $217.2 million.
The company noted that approximately $35.0 million of COVID-19 claims are estimated for the quarter, including the impact of reinsurance and reinstatement premiums.
Group Renewal Price Index or RPI for the quarter was 108 percent, compared to 103 percent last year.
Total investment return, including unrealised gains and losses, was negative 1.9 percent in the quarter, compared to positive 1.8 percent in the year-ago period.
Lancashire noted that at its AGM on Wednesday, its shareholders approved its final dividend for the year 2019 of $0.10 per share, which the board had recommended in February 2020.
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