The group also saw its combined operating ratio rise to 85.6% from 72.7% in Q1 2016. Gross premiums written dropped to $196.5m from $230.8m. Profit before tax rose however by 8% from $26.5m to $28.7m. Alex Maloney, group CEO, said: “In what continues to be a difficult market we have had a good first quarter delivering a Return on Equity of 2.7%. Lancashire has always placed underwriting discipline at the core of its strategy. “At the 2017 January renewal season we were able to both renew and s
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