July 24, 2014 / 6:50 AM / 3 years ago

Insurer Lancashire's premiums boosted by Cathedral acquisition

July 24 (Reuters) - Property and casualty insurer Lancashire Holdings Ltd reported a 53.6 percent jump in quarterly net premiums written, helped mainly by its acquisition in late 2013 of Lloyd’s of London insurer Cathedral Capital Ltd.

Lancashire, which insures assets such as ships, aircraft and oil rigs, reiterated that it would likely return most if not all of its earnings to investors later this year.

There were no major catastrophe losses in the quarter ended June 30. The insurer earned 0.6 percent on its investments in the period, compared with a loss of 0.6 percent a year earlier. (Reporting by Richa Naidu; Editing by Ted Kerr)

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