LONDON (dpa-AFX) - Lancashire Holdings Limited (LRE.L) reported that its first-quarter gross premiums written increased by 46.1% year on year to $354.8 million. The company said its growth was driven by the improved market conditions. We have increased revenue across many of our core lines as well as achieving faster than expected momentum in some of its newer business lines.
The company noted that its net losses recorded for the first quarter of 2021 in relation to Winter Storm Uri, including the impact of reinsurance and inwards and outwards reinstatement premiums, were estimated in the range of $35 million to $45 million.
The Groups total ultimate loss estimates net of reinsurance and the impact of inwards and outwards reinstatement premiums for COVID-19 related losses remained unchanged during the first quarter of 2021
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