- 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.