Lancashire FY profits nearly double
Lancashire Holdings, the Bermudian insurer and reinsurer, reported that full-year pretax profits nearly doubled over the course of the year, thanks to two straight years of low losses.
Pretax profits for the year rose to $391.9m from $159.5 in 2006, and net written premiums for the year rose to $666.8m from $547.5m.
However, analysts at Merrill Lynch noted that the 22.5% decrease in
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