Insurer Lancashire swings to profit in 2018, expects higher rates ahead

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(Reuters) - Property and casualty insurer Lancashire Holdings Ltd swung to profit in 2018, partly helped by a rise in gross written premiums, and said it expects to see higher rates across many of its businesses.

The Lloyd's of London insurer, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, reported profit before tax of $33.6 million (26 million pounds) for the year ended Dec.31, compared with a loss of $72.9 million a year earlier.

(Reporting by Muvija M and Noor Zainab Hussain in Bengaluru; Editing by Arun Koyyur)

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