The outlook for 2007 trading conditions for Lancashire Holdings is attractive, says the company, with favourable pricing and terms of 2006 anticipated to remain healthy through the new year, particularly in catastrophe-exposed zones.

“Lancashire has enjoyed a very successful year so far. We are extremely pleased to have developed relationships with a high quality base of insurance clients across all segments; relationships we aim to develop further in years to come,” said Richard Brindle, chief executive officer and chief underwriting officer. “As 2006 has progressed we have made large strides in broadening our underwriting team, creating a sophisticated risk management toolkit and in building support functions to efficiently service the workflow.”

He continued: “In the marine sector, while we have enjoyed a low level of claims, we have consistently been disappointed with pricing. As such, we have declined to write a large proportion of what has been presented and premiums are less than expected as a result.”

Brindle also commented that Lancashire is positioning itself to trade efficiently through all market cycles. “We aim to achieve this through active sector selection, by nurturing client relationships and by maintaining a nimble capital structure. We will also maintain the underwriting discipline that is embedded in our culture.”