In a move which has taken the market by surprise, Lancashire Group has decided to exit the property direct & facultative (D&F) and onshore energy markets, Inside FAC can reveal.
In a circular seen by Inside FAC, group CUO Alex Maloney pointed to a host of factors for the decision, including the impact of recent US tornados and rising reinsurance costs:
The circular stated: "As you are aware, our strategy for the property direct & facultative and on-shore energy accounts...
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