Lancashire rewards investors with $124mn special dividend
Short-tail specialty (re)insurer Lancashire Holdings continued its active capital management after delivering a combined ratio of 43.5 percent for the third quarter and a nine-month ratio of 60.7 percent.
Nevertheless, Lancashire's pre-tax profits fell 26.6 percent to $79.0mn as the firm suffered a total investment loss on a negative year-on-year swing of $45mn.
Lancashire was able to report its strong underwriting result despite modest loss creep on first-half cats, including the Japan and New Zealand earthquakes.
In line with its...
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