Lancashire boss in no doubt "the market has turned"

Lancashire has reported a net operating loss of $105.7m ($119.4m after tax) for the third quarter of 2008.

During the same period it recorded gross written premiums of $124.6m, net written premiums of $120.3m, a loss ratio of 152.5% and a combined ratio of 178.2%.

For the nine months to 30 September 2008

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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