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Lancashire hindered by financial market volatility

Uncertainty in financial markets dragged on performance
February 10, 2023
  • Improved combined ratio
  • Negative investment return

Lancashire (LRE) had to endure a series of severe weather events during FY 2022 which sent the specialty insurance and reinsurance group into a statutory loss. The winds haven’t stopped blowing, but losses have narrowed appreciably in the period under review, with progress on the underwriting front evident in a combined ratio (incurred losses divided by earned premium) of 98 per cent, down from 107 per cent in the corresponding period.

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