Lancashire declares $182m special dividend of 75 cents a share

• Lancashire declared a special dividend of 75 cents a share, about $182m, payable on 11 December.
• Gross premiums written fell 1.1% to $1,806.0m in the nine months to 30 September, and the group put its renewal price index at 93%.
• Lancashire said it remains on track for a high-teens return on equity in 2026.

Lancashire Holdings has declared a special dividend of about $182m after gross premiums written slipped 1.1% to $1,806.0m in the first nine months of 2026, the specialty insurer and reinsurer said on 4 November.

The mix shifted. Reinsurance premiums fell 6.0% to $969.5m, which Lancashire said reflected a planned reduction in inwards property retrocession. Insurance premiums rose 5.3% to $836.5m, which Lancashire said was driven mainly by energy and marine lines and the build-out of Lancashire US. Excluding reinstatement premiums from last year's California wildfires, the group said premiums were flat.

The renewal price index was 93% for the group: 92% in reinsurance and 94% in insurance. "While pricing has moderated in some parts of the market, we benefit from a diversified portfolio and rates continued to remain adequate across much of our business," Group Chief Executive Alex Maloney said.

Hiscox described similar conditions a day earlier. In its nine-month trading statement on 3 November, it said its big-ticket businesses faced competitive market conditions and that it was "walking away from underpriced business", while group written premiums grew 9.5%, led by retail.

Lancashire said the third-quarter loss environment was relatively benign, with few catastrophe events, and that its exposure to the conflict in the Middle East was limited and within its risk appetite. Its investment portfolio returned 0.6% in the nine months, with income offset by mark-to-market losses as government bond yields rose.

The special dividend of 75 cents a share, about 56 pence at the current exchange rate, will be paid in sterling on 11 December to shareholders on the register on 13 November.

Related coverage: Hiscox says cycle management cut London Market growth by nine points; Ten new Lloyd's capital vehicles set up in October, CoverWire data shows.

Sources

• Lancashire Holdings: trading statement for the nine months to 30 September 2026 (RNS, 4 November 2026)
• Hiscox: Q3 2026 trading statement (RNS, 3 November 2026)

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