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Prices & Quotes - UK Markets - Lancashire Holdings Limited (LRE)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 744.00p
Change Today:
10.50p
Market Cap:
1,804.27m
Sector:
Insurance (non-life)

Canaccord downgrades Lloyd\'s insurers Beazley, Hiscox and Lancashire

By Michele Maatouk

Date: Monday 08 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Canaccord Genuity cut its stance on Hiscox, Beazley and Lancashire on Monday as it took a look at the UK insurance sector and said first-quarter commentary points to more challenges.
The broker downgraded Hiscox to \'sell\' from hold\', keeping the price target at 1,580p. It cut Beazley to \'hold\' from \'buy\', keeping the 610p price target and downgraded Lancashire Holdings to \'hold\' from \'buy\' with an unchanged price target of 725p

Canaccord maintained its \'buy\' rating on Hastings, but reduced the price target to 225p from 235p and kept Sabre at \'hold\' while trimming the price target to 305p from 310p. It kept Direct Line at \'sell\' with a 280p price target.

\"For the Lloyd\'s insurers (Beazley, Hiscox and Lancashire), there were positive comments about rating momentum (albeit not a hard market), much improved investment returns but some negatives re higher attritional loss activity and loss creep (especially around Typhoon Jebi), all of which will impact reserve releases,\" it said.

\"For personal lines insurers (Direct Line, Hastings and Sabre), the continued pressure on pricing that means, for most, any rate rises achieved are not as yet keeping up with, let alone surpassing, current (high) claims inflation. This suggests the resultant turn in UK motor rates could well be pushed out to Q4 19/Q1 20.\"

Canaccord said it expects Beazley and Hiscox to take a more cautious stance on both 2018-19 claims and reserve movements, especially on casualty/Typhoon Jebi, which will impact 2019.

\"We see a similar theme at Lancashire, albeit without the prior year loss creep, plus it does not have large casualty exposures,\" it added.

At 1100 BS, Beazley shares were down 0.8% at 562p, Hiscox was 0.6% lower at 1,758p and Lancashire was 0.3% lower at 701.50p.

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LRE Market Data

Currency UK Pounds
Price 744.00p
Change Today 10.50p
52 Week High 850.00p
52 Week Low 528.00p
Volume 334,328
Shares Issued 242.51m
Market Cap 1,804.27m

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 13
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LRE Dividends

  Latest Previous
  Interim Final
Ex-Div 13-Aug-20 07-May-20
Paid 11-Sep-20 05-Jun-20
Amount 5.00¢ 10.00¢

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 191,631 @ 744.00p
16:29 84 @ 739.00p
16:29 169 @ 740.50p
16:29 11 @ 740.50p
16:29 300 @ 740.50p

LRE Key Personnel

CEO Alex Maloney
CFO Natalie Kershaw