Lancashire Q2 profits up 21% on low losses

Lancashire Group profits exceeded analyst expectations in the
second quarter after a benign period for losses helped push pre-tax
profit up by 20.8 percent to $38mn.
The results surpassed a consensus of 10 analysts, whose average
prediction was that Lancashire would make $30mn in pre-tax profit
over Q2.
The company's combined ratio improved by 10.8 percentage
points in Q2 to 69.8 percent, driven by a quiet quarter for
catastrophe losses.
The insurer's loss ratio dropped by 16.5 percentage points