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HAMILTON, BermudaLancashire Holdings Ltd. said it expects healthy trading conditions for most of the classes of business which it underwrites in 2007.
The Hamilton, Bermuda-based specialty insurer said that for the majority of classes it underwrites, with the exception of marine, prices are expected to remain healthy during 2007, particularly in catastrophe-exposed zones.
"Outside these zones, there may be some modest weakening but pricing is expected to remain broadly acceptable in most classes," the company said in a statement.
Richard Brindle, Lancashire's chief executive officer and chief underwriting officer commented: "In the marine sector,while we have enjoyed a low level of claims, we have consistently beendisappointed with pricing. As such, we have declined to write a large proportionof what has been presented and premiums are less than expected as a result."Lancashire writes short-tail property, energy, marine and aviation business.