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Jul 25th, 2012 Comments: 0

Insurer Lancashire hit by wider Costa Concordia loss

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Reuters
(Reuters) – British insurer Lancashire said it expected to return cash to shareholders this year as it reported a 33 percent drop in its quarterly profit, blaming bigger payouts related to the Costa Concordia shipwreck and dwindling investment returns. Lancashire, which insures heavy-duty assets such as oil rigs, ships and aircraft, made a pretax profit of $60.6 million in the three months to June

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