Investment strategy to remain defensive.
Lancashire Holdings Ltd has said Hurricanes Gustav and Ike will have a combined net negative impact of about $150 million on its financial results.
The insurer said Hurricane Gustav is expected to contribute less than $5 million to the total estimate. Of the total $150 million impact, about $125 million relates to offshore losses.
Lancashire also said its estimated annualised total investment return is a positive 1.2 percent for the nine months to end-September.
Chief financial officer and chief risk officer Neil McConachie said the company's investment strategy will remain very defensive for the foreseeable future.
