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Highlights : LANCASHIRE HOLDINGS LIMITED Lancashire Holdings Limited ( " Lancashire ” or “ the Group " ) announces its results for the six months ended 30 June 2021 . ● 28 July 2021 Hamilton , Bermuda Gross premiums written increased by 40.7 % year on year to $ 697.2 million , with a positive renewal price index of 111 % . Excellent underwriting performance , with a combined ratio of 80.7 % ( or 65.7 % excluding Winter Storm Uri ) . Further hiring of new teams , continuing to build out Lancashire's book of business . Successful long - term debt refinancing in the first half of 2021 . Interim dividend of $ 0.05 per common share , in line with our dividend policy . Financial highlights ( $ m ) Gross premiums written Net premiums written Underwriting profit Profit ( loss ) before tax Comprehensive income ( loss ) ¹ Change in FCBVS2,3 Financial ratios Total investment return Net loss ratio Combined ratio Per share data Fully converted book value per share Dividends per common share for the financial year Diluted earnings ( loss ) per share Six months ended 30 June 2021 697.2 427.9 127.1 54.1 33.6 2.4 % 0.3 % 38.4 % 80.7 % $ 6.33 $ 0.05 $ 0.19 30 June 2020 495.5 282.5 39.4 ( 23.0 ) ( 14.7 ) 7.2 % 1.3 % 57.4 % 106.9 % $ 6.16 $ 0.05 $ ( 0.13 ) These amounts are attributable to Lancashire and exclude non - controlling interests . 2 Defined as the change in fully converted book value per share , adjusted for dividends . See the section headed “ Alternative Performance Measures " below . 3 The change in FCBVS excluding the impact of the capital raise in June 2020 as at 30 June 2020 would have been ( 1.0 % ) . Alex Maloney , Group Chief Executive Officer , commented : " I am particularly pleased with the Group's strong premium growth of 40.7 % in the first half of the year . It has always been our strategy to write more business and deploy more of our capital when market conditions dictate , and these results amply demonstrate our persistent focus on delivering on our strategic aims . The Group achieved a growth in FCBVS of 2.4 % for the half year , absent the one off debt redemption costs , the growth in FCBVS would have been 3.5 % . The rating environment continues to be favourable for most of the products we sell , giving rise to a renewal price index of 111 % and considerable organic growth . Importantly , we are starting to reap the benefit of the cumulative rate increases we have achieved over the past three years on our profitability . This is illustrated by our combined ratio of 80.7 % for the half year .