As the traditional company market rated (re)insurer operating through its Bermuda and London subsidiaries, Lancashire underwrites a substantial part of the Group's core portfolio and has the ability to respond nimbly in post loss situations.

Carrying substantial capital headroom, above both regulatory and rating agency requirements, allows the Lancashire operating companies to respond quickly to new opportunities. The daily underwriting call and the fortnightly risk and return committee ensure that the companies are continually attuned to market developments, and have an unfiltered view of the underwriting environment.

Lancashire Insurance Company (UK) Limited writes mostly direct insurance with a leading presence in the energy, terrorism, political risk, marine hull and AV52 markets from London.

Lancashire Insurance Company Limited, based in Bermuda, facilitates the acceptance of larger risks, both on its own account and as a reinsurer of the direct writers in the Group at Lancashire Insurance Company (UK) Limited and Lancashire Syndicates Limited. It writes the larger reinsurance and retrocession risks often of worldwide or super-regional cedents.

Lancashire Strategy

Lancashire executes its strategy by concentrating on three strategic priorities that enable it to meet its goal of maximising risk-adjusted returns: underwriting comes first; effectively balance risk and return; and operate nimbly through the cycle. These strategic priorities enable Lancashire to serve its clients and brokers with significant capacity across the cycle, not just in the core business the Group aims to renew every year, but also in times or in areas where capacity is scarce.

Lancashire’s lines of business and further information on these are as follows:

aviation

Lancashire is a major aviation writer with substantial capacity and writes a comprehensive book of Excess AV52 with worldwide trading patterns and attachment points that vary between $50M and $250M.

As with all classes of business, we offer consistency, broad coverage, timely response and commitment to our core accounts through the cycle.

energy

Lancashire is a major energy writer with substantial capacity covering Upstream, Downstream and Onshore Operational and Upstream Construction All Risks business.

We cover Upstream Operational (Physical Damage/Control of Well of Production Income/Third Party Liability) and Upstream Construction All Risks (Physical Damage/Third Party Liabilities) business. We have the ability to offer standalone catastrophe coverage for wind, earthquake and flood as well as standalone business interruption coverage.

We cover Downstream and Onshore Operational (Physical Damage/Business Interruption) business. 

We can write on either a quota share or excess basis for Upstream, Downstream and Onshore Operational and Upstream Construction business.

As with all classes of business, we offer consistency, broad coverage, timely response and commitment to our core accounts through the cycle.

Marine

Lancashire offer a range of coverages within our marine portfolio: marine hull, total loss only, mortgagees interests insurance, mortgagees additional perils, excess protection & indemnity, marine war and builder’s risks.

We prefer to write high-profile accounts, cruise vessels and liquid natural gas carriers. We also offer a limited amount of capacity for marine reinsurances, both excess of loss and retrocession including the International Group.

As with all classes of business, we offer consistency, broad coverage, timely response and commitment to our core accounts through the cycle.

Property

Lancashire offers a number of property products including:

Reinsurance solutions

Worldwide Property Catastrophe Excess of Loss (XOL) and Territorial Specific Retrocession. Our Catastrophe XOL Account focuses on traditional established market placements for reinsured's across the globe.

Specialty solutions

  • Industry Loss Warranty with PCS, Perils, Sigma and Nat Cat as acceptable indexes.
  • Multi Peril Crop Insurance on a Stop Loss Basis.
  • Terrorism: Reinsurance of Pools, Direct & Facultative, Sovereign Obligors. Our terrorism department underwrites a wide range of risks from energy, utilities and manufacturing to retail, real estate, leisure and entertainment and hotels. We write on either a primary, excess or quota share basis and bring significant capacity to those risks which require meaningful limits of cover. We also underwrite full political violence cover including war and strike, riot and civil commotion.
  • Political Risk and Soveriegn Obligors: Lancashire offers political risk insurance products including confiscation, expropriation, nationalisation, deprivation, political violence including war and terrorism, and currency inconvertibility/ non transfer. Lancashire also provides contract frustration cover (CF) against sovereign and quasi sovereign entities. Lancashire does not offer insurance for private credit risk.
  • Energy including Nuclear Power.

This list is of course not exhaustive and we can consider reinsuring other specialty short tail niche lines of business upon request. As with all classes of business, we offer consistency, broad coverage, timely response and commitment to our core account through the cycle.

Lancashire Insurance Company (UK) Limited ("LUK")

Financials

Lancashire Insurance Company (UK) Limited - Financials 2019 

Lancashire Insurance Company (UK) Limited - Financials 2018

Lancashire Insurance Company (UK) Limited - Financials 2017

Governance

Terms of Reference - Board (PDF)

Terms of Reference - Audit Committee (PDF)

Terms of Reference - Executive Management Committee (PDF)

Terms of Reference - Regulatory Reporting Oversight Committee (PDF)

Terms of Reference - Remuneration Committee (PDF) 

Regulatory Reporting

Solvency and Financial Condition Report - 31 December 2019

Solvency and Financial Condition Report - Appendix 1 - Public QRTs - 31 December 2019

Solvency and Financial Condition Report - 31 December 2018

Solvency and Financial Condition Report - Appendix 1 - Public QRTs - 31 December 2018

Solvency and Financial Condition Report - 31 December 2017

Solvency and Financial Condition Report - Appendix 1 - Public QRTs - 31 December 2017

Customer Complaints

Lancashire is committed to providing a professional service to maintain fair outcomes for our customers at all times. If you are dissatisfied or have any complaints about your policy or the handling of a claim you should, in the first instance, contact Steve Yeo on the following details:

By telephone: +44 (0)20 7264 4029

Email: steve.yeo@lancashiregroup.com

Write to: Claims & Complaints

Lancashire Insurance Company (UK) Limited
20 Fenchurch Street
London
EC3M 3BY

If you were sold this product online or by other electronic means and within the European Union (EU) you may refer your complaint to the EU Online dispute Resolution (ODR) platform. Upon receipt of your complaint the ODR will escalate your complaint to your local dispute resolution service – this process is free and conducted entirely online.

Should you remain dissatisfied, you may, if eligible, refer your complaint to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is an independent service in the UK for settling disputes between consumers and businesses providing financial services.

The FOS’s contact details are as follows:

Financial Ombudsman Service
Exchange Tower
London
E14 9SR

Email: complaint.info@financial-ombudsman.org.uk

Telephone: +44 (0)300 123 9 123

Website: www.financial-ombudsman.org.uk