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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 738.00p
Change Today:
2.50p
Market Cap:
1,789.72m
Sector:
Insurance (non-life)

Lancashire Holdings profits jump, combined ratio improves

By Michele Maatouk

Date: Thursday 13 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Lancashire Holdings posted a jump in full-year profit on Thursday and an improvement in its combined ratio.
In the year to the end of December, pre-tax profit surged to $119.5m from $33.6m the year before, while the combined ratio - which measures an insurer's profitability - improved to 80.9% from 92.2%. Analysts had been expecting pre-tax profit of $76m and a combined ratio of 89.9%.

Broker Peel Hunt said higher-than-expected reserve releases and lower-than-expected catastrophe losses explain most of the underwriting beat.

The company delivered a return on equity of 14.1%, up from 2.4% in 2018 and a total investment return of 4.9% versus 0.8% the year before.

Lancashire said 2019 was hit by catastrophe activity in the form of hurricane Dorian and typhoons Faxai and Hagibis. The company's net losses recorded for these events was $52.1.m.

Chief executive Alex Maloney said: "Our results reflect the measured pricing improvement that we have witnessed during the course of the year and our disciplined underwriting approach, with top line premium growth and a strong contribution from our investment portfolio.

"These are pleasing results and are early evidence of the transition to the harder stage of the cycle within insurance markets. However, whilst Lancashire has achieved a profitable underwriting performance with a combined ratio of 80.9% for the full year, we are still of the belief that further pricing improvement is needed in many lines of business before the market returns to a more sustainable environment."

At 0840 GMT, the shares were up 6.2% at 819.50p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

LRE Market Data

Currency UK Pounds
Price 738.00p
Change Today 2.50p
52 Week High 850.00p
52 Week Low 528.00p
Volume 562,232
Shares Issued 242.51m
Market Cap 1,789.72m

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 27-Nov-2020

Time Volume / Share Price
16:35 428,656 @ 738.00p
16:29 271 @ 730.00p
16:29 5 @ 728.50p
16:29 8 @ 728.50p
16:29 9 @ 728.50p

LRE Key Personnel

CEO Alex Maloney
CFO Natalie Kershaw