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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:
Down 504.00p
Change Today:
-9.00p
Market Cap:
1,226.80m
Sector:
Insurance (non-life)

Lancashire Holdings swings to profit in first half

By Michele Maatouk

Date: Wednesday 28 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Lancashire Holdings said on Wednesday that it swung to a profit in the first half as gross premiums written surged.
In the six months to 30 June, the insurer swung to a pre-tax profit of $54.1m from a loss of $23m in the first half of the previous year, with gross premiums written up 40.7% to $697.2m.

Lancashire said the rating environment continues to be favourable for most of the products it sells, giving rise to a renewal price index of 111% and "considerable" organic growth.

Chief executive office Alex Maloney said: "Looking ahead, we expect the rating environment to remain positive."

Underwriting profit increased to $127.1m from $39.4m despite the impact of Winter Storm Uri in the US in the first quarter. Lancashire said it did not incur any other significant losses and had positive reserve releases of $53.6m during the period, while its loss reserves for Covid-19 remain stable.

Lancashire's combined ratio - which measures an insurer's profitability - improved to 80.7% from 106.9%.

"It has always been our strategy to write more business and deploy more of our capital when market conditions dictate, and these results amply demonstrate our persistent focus on delivering on our strategic aims," Maloney said.

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LRE Market Data

Currency UK Pounds
Price 504.00p
Change Today -9.00p
52 Week High 763.00p
52 Week Low 494.80p
Volume 534,788
Shares Issued 243.41m
Market Cap 1,226.80m
Beta 0.93

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 6
Sell 0
Strong Sell 0
Total 16
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 05-Aug-21 06-May-21
Paid 03-Sep-21 04-Jun-21
Amount 5.00¢ 10.00¢

Trades for 26-Nov-2021

Time Volume / Share Price
16:35 82,042 @ 504.00p
16:29 650 @ 506.01p
16:28 1,432 @ 506.50p
16:28 1,216 @ 506.50p
16:28 1,010 @ 506.50p

LRE Key Personnel

CEO Alex Maloney
CFO Natalie Kershaw