Lancashire beats forecasts despite bigger Costa hit

London-listed (re)insurer Lancashire reported a smaller-than-expected 4 percent drop in its second quarter profit, as generally subdued claims allowed it to comfortably absorb a sharp increase in the cost of the Costa Concordia wreck, as well as losses on its investment portfolio. Lancashire made a pretax profit of $58.3mn in the three months to 30 June, the company said today (25 July), down from $60.6mn in the same period last year, but well ahead of the $39.1mn expected by analysts.

Lancashire beats forecasts despite bigger Costa hit Insurance insider