LONDON (dpa-AFX) - Bermuda-based insurance company Lancashire Holdings Ltd. (LRE.L) on Thursday posted higher pre-tax profit for the full year, helped by strong underwriting and investment returns. Insurance revenues also rose 16 percent from last year.
The company reported profit before tax of $336.7 million for the full-year 2024, higher than $332.7 million a year ago.
Profit for the year dipped slightly to $321.3 million or $1.30 per share from $321.5 million or $1.32 per share last year.
Insurance revenues in fiscal 2024 increased to $1.77 billion from $1.52 billion in the prior year.
Gross premiums written during the year came in at $2.15 billion, up 11.3 percent from $1.93 billion a year ago
The company's Board of Directors have declared a final dividend of $0.15 or 0.12 pound per share, to be paid on June 13 June to shareholders of record on May 16.
The Board of Directors has also declared a special dividend of $0.25 or 0.20 pound per common share, to be paid on April 11 to shareholders on the register at the close of March 14. This brought the total year-end dividend to $0.40 per share.
On the LSE, the stock is trading at 586.00 pence, down 6 percent.
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