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Lancashire posts surprise profit despite COVID-19 losses

Feb 10 (Reuters) - Insurer Lancashire on Wednesday posted a surprise profit for the year as a recovery in its investment portfolio cushioned a hit from coronavirus-linked claims.

The UK-listed company, which underwrites property, energy and aviation lines, reported a pretax profit of $5.9 million for the 12 months ended Dec. 31 versus $119.5 million a year earlier.

Analysts were expecting a loss of $16 million, according to Eikon data from Refinitiv.

Reporting by Muvija M in Bengaluru; Editing by Devika Syamnath

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