Allied World scrapes up underwriting profit

Allied World fell 23 percent short of analyst consensus
expectations with operating earnings per share of $0.53 in the
first quarter in what is likely to be the firm's final set of
results as a public company following its agreed sale to Fairfax
Financial.
The headline combined ratio slipped by 3.2 points to 99.2
percent, the company said late today as the expense ratio tracked
out by 1.5 points to 33.3 percent and the loss ratio widened by 1.7
points...