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Profits up at Lancashire Holdings

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Bermuda-based Lancashire Holdings has announced an increase in net profit after tax for the second quarter of 2011 and the six month period ended 30 June 2011.

The global provider of specialty insurance products stated that net profit after tax for the second quarter of 2011 rose to $88.9m (£54.2m) from $84.8m in the second quarter of 2010 while for the half year they rose to $97.5m (H1 2010: $93m)

However gross written premiums for the provider that deals in property, energy, marine and aviation fell to $207.9m in the second quarter (Q2 2010: $232.1m) resulting in a total of $379.8m for the half year (H1 2010: $460.1m).

It also reported a combined

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