Q1 profit halves at Lancashire

Pre-tax profits at Lancashire almost halved in the first quarter
to $26.5mn, following a deterioration in the investment result and
a decline in net earned premium.
Net earned premium for the quarter fell 11 percent to
$137.2mn.
While net investment income was largely flat at $7.6mn, the
quarter was impacted by $1.4mn in other investment losses and
$7.9mn of net realised losses.
This compared to a combined net gain of $4.8mn from other
investment results a year earlier.
Total net...