- Property and casualty insurer Lancashire Holdings reported a sharp jump in profit as premiums continued to grow.

For the year ended 31 December, pre-tax profit rose to $119.5m from $33.6m as gross premiums written increased by 10.7% on-year.

The jump in premiums was led by aviation gross premiums written, which increased 61.2% and the company's r Lancashire syndicates segment, in which premiums climbed by 15.8%.

The net loss ratio for 2019 was 30.8% compared to 40.0% for the same period in 2018.

'With a year of below-average industry losses compared to prior years and a strong investment performance, we are pleased to return to strong levels of profitability, with a return on equity of 14.1% for the year, with all of the Group’s platforms contributing to that return. Our combined ratio was 80.9% and our investment return was 4.9%,' Lancashire said.

At 9:57am: [LON:LRE] Lancashire Holdings Limited share price was +14.25p at 786.25p

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