(Reuters) – Property and casualty insurer Lancashire Holdings Ltd (LRE.L) on Thursday reported a 48.5 percent slump in first-quarter pretax profit, and appointed Heather McKinlay as chief financial officer for its Cathedral arm.
The company, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, said pretax profit fell to $ 26.5 million in the quarter ended March 31, from $ 51.5 million a year earlier.
Lancashire last year announced the departure of Cathedral’s CEO and CFO.
(Reporting by Noor Zainab Hussain and Aastha Agnihotri in Bengaluru; Editing by Sunil Nair)
