Lancashire reports $2.8mn loss for 2022 as it increases Ukraine reserves

10 February 2023

Lancashire Holdings has taken a step towards profitability, reporting a $2.8mn pre-tax loss for 2022, up from the $56.8mn pre-tax loss reported in 2021.

The carrier also increased its Ukraine-related reserves to $65.8mn, up from $22mn, which it said covered multiple classes.

Combined ratio: The carrier posted a nearly 10-point improvement on its combined ratio in 2022.

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