We are now in a stronger position than ever before, with the ability to use all the underwriting levers at our disposal to effectively manage volatility and deliver a better risk and return profile for investors.
 

Download our Annual Report 2024

2024 at a glance

People


 

426

colleagues across our offices


 

Top 10

employer in Bermuda


 

50% 50%

Male and female

gender split of Group Executive
Committee


 

100%

permanent employees eligible to be
considered for RSS awards

Purpose


 

$511.3m

gross losses paid in 2024


 

$0.9m

donated through the Lancashire Foundation


 


 

30+

charities supported through the Lancashire Foundation


 

100%

of calculated GHG emissions offset from our own operations

Performance


 

$354.2m

paid in dividends to our shareholders


 

$321.3m

profit after tax


 

23.4%

change in DBVS


 

5.0%

total investment return


 

Leadership statements

Non-Executive Chairman's statement

"It is an exciting time for Lancashire and the results for 2024 demonstrate that the growth and diversification strategy of the past five years has been the right one."

 

Philip Broadley
Non-Executive Chair

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Group Chief Executive Officer's statement

"We have utilised our capital more efficiently, diversified our underwriting portfolio to reduce volatility, and broadened our talent base by attracting good people who fit our culture."

 

Alex Maloney
Group Chief Executive Officer

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Group Chief Financial Officer's statement

“Lancashire’s strong financial performance in 2024 clearly demonstrated the benefits of our growth and diversification strategy."


 

Natalie Kershaw
Group Chief Financial Officer

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OUR PURPOSE

1. Deliver bespoke risk solutions that protect our clients and support economies, businesses and communities in the face of uncertain loss events.

 

2. Manage our risk exposures and capital resources to generate returns for our investors.

 

3. Support our people and work with our stakeholders, fostering a positive, sustainable and open business culture to the benefit of society.

KEY PERFORMANCE INDICATORS

We have maintained our emphasis on underwriting discipline and maximising risk adjusted returns through product diversification. The benefits of the strategic changes we have made to the business are now evident.

Download KPIs
Strategic overview

Our strategy has always been to actively manage the market cycle and grow when the conditions are right. After investing in the business over the past few years, we are now achieving results that support more sustainable outcomes across the cycle.

Download Strategic overview
PERFORMANCE

The delivery of a strong and consistent profit after tax of $321.3 million has resulted in an excellent return on equity. This reflects the Group's impressive expertise in both underwriting and investment management during the year, notwithstanding multiple catastrophe and large loss events.

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TCFD Report

Our TCFD report offers a snapshot of our efforts in responding to the challenges and opportunities of climate-related issues. Through our insurance underwriting guidelines and modelling capabilities, we have a pragmatic approach to underwriting potential perils and identifying mitigation factors to offset future risks.

Download our 2024 TCFD Report