Lancashire profits soar despite $34m Costa Concordia claims costs
Lancashire Holdings has reported Q1 gross written premiums up 36% to $234m (2011: $172m), and said that pre-tax profit was up more than fivefold to $46.5m (2011: $8.4m), despite Costa Concordia claims totalling $34.1m.
The company said that the bulk of the increased premiums came from its property retrocession book. Property gross premiums written increased by 54.9%.
Lancashire said: "In the first quarter of 2011 we
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