Push to energy lifts Lancashire

Lloyd’s of London insurer Lancashire Holdings yesterday beat forecasts with its first-half pre-tax profit as it escaped a big hit from the Gulf of Mexico oil spill and Chile’s earthquake, while rates for energy-sector insurance rose.

Lancashire reported a first-half pre-tax profit of $94.6m (£59.6m), compared with $148.2m in the same period last year after it profited from better energy rates.