Lancashire produces stable profit despite $44m Sandy loss
Lancashire Holdings saw an increase in gross written premium in 2012 to $724.3m (£475.8m) compared to $632.3m the year before. Its net operating profit slightly increased to $220.3m (2011: $219m) over 2012, and its combined operating ratio was reasonably stable at 63.9% (2011: 63.7%).
The insurer and reinsurer reported a net loss arising from superstorm Sandy of $44.5m, after reinsurance and reinstatement premium and insisted it remains well capitalised "to ensure we are prepared
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