The insurer increased its loss estimate for Covid-19 to $42m
Lancashire has fallen to a $23m (£17.5m) loss before tax for the first six months of 2020 after the insurer increased its Covid-19 loss estimate to approximately $42 million, up from approximately $35 million, net of reinsurance and reinstatement premiums.
This meant that the impact of Covid-19 added 17.4 percentage points to the insurer’s loss ratio, which stands at 57.4% for the first half of 2020, compared to 34.5% for the same period in 2019.
Read more…
This article is usually available exclusively to subscribers.
For a limited period, you can enjoy all the benefits of an online subscription free for 14 days. Sign up now to read this article in full and to enjoy unlimited access to premium online content, a digital edition of the latest issue, plus an online archive of back issues.
Also, as a registered user, you will be able to -