Lancashire shuts fac door
Lancashire Group is trimming its book by some 10 percent by
exiting the property direct and facultative (D&F) and onshore
energy markets with immediate effect.
In a circular seen by sister publication Inside
FAC, group chief underwriting officer Alex Maloney
cited a host of factors for the decision, including the heavy cat
losses incurred during 2011, the impact of recent US tornadoes and
rising reinsurance costs.
The circular stated that the company had already been reducing
exposures to these lines...
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