Lancashire Group delighted analysts with net profit of $93mn and a 77.4 percent combined ratio for the first half of 2010, defying the string of unprecedented losses that produced yawning combined ratios for many of its peers.
Analyst Eamonn Flanagan of Shore Capital described the results as "stunning", commenting, "the combined ratio was remarkable and highlights how good an underwriter this group is". In addition, the results were also boosted by first half reserve releases of $56.1mn.
The group's reduced...
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