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(Corrects currency in paragraph 2 to dollars from pounds)
May 1(Reuters) - Property and casualty insurer Lancashire Holdings Ltd posted a 47 percent rise in first-quarter gross premiums written, helped by its acquisition last year of Cathedral Capital Ltd.
The British underwriter, which insures oil rigs, ships and aircraft, said gross premiums written rose to $316.7 million in the three months ended March 31 from $214.9 million a year earlier. ($1 = 0.5922 British Pounds) (Reporting by Noor Zainab Hussain in Bangalore; Editing by Robin Paxton)