LONDON (dpa-AFX) - Lancashire Holdings Limited (LRE.L), a provider of insurance and reinsurance products, reported Friday that its fiscal 2021 loss before tax was $56.8 million, compared to last year's profit of $5.9 million.
Loss per share was $0.26, compared to prior year's profit of $0.02.
Underwriting profit declined to $69.0 million from $77.0 million a year ago.
In the year, gross premiums written increased 50 percent to $1.23 billion from last year's $814.1 million. Net premiums written grew to $816.1 million from $519.4 million last year.
Further, Lancashire announced that its Board of Directors has declared a final dividend for 2021 of $0.10 or around 0.07 pounds per common share, subject to a shareholder vote of approval at the AGM to be held on April 27.
Looking ahead, Alex Maloney, Group Chief Executive Officer, said, 'Despite the disappointing returns of the past year, we are fully energised by the prospects for 2022 and profitable growth remains our main goal.'
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
